[Closed] Bike shop for sale in Harrogate, should I buy it?

Think of the public sector pension...... 😆

Looks shit I wouldn't bother

you've got to ask 'why is the person who owns it selling up in the first place'

depends how many shops are in the area

You cant be that serious about buying it or you wouldnt have put it out in the open for someone else to buy on a whim.

I know there is blazing saddles also in Harrogate, are these the only two?

I'd do some research on the location first, I used to go past the shop but never been in.
Looks like a small facelift and clearout with some more reasonable opening hours could see you increase the revenue easily.

I'd deffo look into it further!

[i]you've got to ask 'why is the person who owns it selling up in the first place'[/i]
That was the 1st thing I thought of. 'other business interests' apparently.

[i]Think of the public sector pension[/i]
Oh yes, can't wait to have my pants taken down. 😉

ask if you can see their books. if they are serious about selling they will oblige. that way you can see if its worth it unless they've been fiddling them to sell it quicker!!

As far as 'decent' shops go youv'e got Boneshakers & the Specialized shop next to Cotswold. (Isn't Blazing Saddles in Hebden Bridge, which is 2 billion light years away?)
I've been in Psychlosport, bumped into the owner (Pete?) at Glentress a few years ago.

Stif Cycles also nearby

Good luck whatever you decide.

i bought a bike from Pete in the past, and rode with him a couple of times.
sad to see the shop go under.
buy it, and i will come and do your spannering.......... 8)

Around £23,000 after rent without factoring in for insurance, light & heat, consumables and all the rest of the expenses that you will incur running the shop. I wouldn't touch it with a barge pole but I'm thinking with my head rather than my heart.

Well, I reckon you'll do a better job than that cowboy! (wouldn't take much).

I went in to fix my drivetrain. I went to collect and he couldn't remember what he had done let alone the original problem. He quoted £30 for a half service. Hmmm I thought I didn't ask for that. I paid and walked off to find the same problem.

I took it back and he asked if I was calling him a liar! Talking truth I thought, anyhow he wouldn't give me my money back unless I left it over night for him to "undo his work" to get it back to the original state! Ha I laughed but thought I’ll try tomorrow. I returned and he said I have left it how it was I'll charge you £15. I said I don't think so pal. I finally got my £30 quid back and my bike in its broken state! What a joke.

Sorry couldn't resist the rant.

It's been on the market for a while. I don't believe other business interests for one moment.

It probably does have potential but not early retirement material?

I would not spend that much.
If you are cool with a longer start up term / duration consider starting your own.
You see:
£55k gets you a lot of fresh new stock. New stock, sellable stock.
I did five years of working my day job and bikemongering in the evening, sometime an evening that went from 7pm to 2am. And then back to the day job after five hours sleep.
The high street is suffering
Web is growing.
But what do you get for £55k? Spend £10k on stock, build a website, rent the shop round the corner for £5k pa and you have saved your self almost £40 grand.
Get yourself on the night shifts in the prision and run the shop by day. Or get your Mrs to chip in... Sleep on the shop sofa, wash at the shop sink. And hey you are still better off than your "clients" at the prison.
Nothing comes easy.

Or buy the Bikemongery (tm) for £250,000. 🙂

I didn't realise there were so many bike shops in Harrogate, Spa Cycles being the only one I was aware of (which may be a bit of a niche) but they have a loyal following I think.

Remember Essel you'll end up with no cycling time.

But what do you get for £55k?

Well...in theory you're getting a brand with some sort of proven track record. It says that the gross profit is about £28k so that should include salaries for staff so a 50% return on investment PA? I'm sure that's not right!

how about we all chip in and buy it as a collective

everyone has to put in a day a month spannertime

I've ridden with pete, he was a nice chap.

£28k dwindles once the chancellor has taken money for his wars and cycle lanes.

I don't want to shit on a guy selling his business. And all of the detail would be flushed out when you look into it. But do the maths, in full.

[i]Remember Essel you'll end up with no cycling time[/i]
Right! (I don't get enough time as it is)

Don't think I'll bother.

No. Don't do it.