Company history/background
Since 2012 we are developing cycling in the central Algarve, Portugal. More and more people are buying and renting bikes. Also the government is now busy to activate cycling around the whole country.
Tourisme in the Algarve is growing very well and that include cycling holidays as well. These developments make that all parts of our shop are growing year after year. We sell, rent and repair all kind of bikes and work through the whole Algarve.
Company activities
Our business is well known as a bike-shop with north European brands and specialised in E-Bikes. We supply mostly Dutch and German brands with a good margin. As specialist of repairing E-Bikes people are coming from all over the Algarve. Besides the E-bikes we sell and rent a various of recreational bikes as well. Mountainbikes, trekking-bikes kids-bikes and citybikes.
Rentals are for 80% Cycling holidays booked by touroperators based on long term contracts. The store is run by the owners and two employees. Everybody speaks fluent in English. The turnover is been all the years in double figures and the showroom / stock is expending fast. The shop is open the whole year and specially around summer it's the busiest time. At the end of the year the shop is always closed for 2 weeks.
Unique selling points
As announced before we are really specialist in E-Bikes. We had our education in Holland, are certified by BionX, Shimano and Bosch. There is no other shop who have so many e-bikes in stock or for rental. Our location in the middle of the Algarve is also ideal for our clients. There are enough possibilities to grow further. Add extra staff, intensive marketing and especially invest in online sales. We do have a nice website and easy to find but we have not really invested in sales yet. Bookings for rentals are possible through the website and is growing. Another possibility is try to sell more cycling holidays to other touroperators like in England, Germany, Zwitserland etc.
Other
For a young dynamic couple with interest in sales and technique, the right energy the drive to work in the beautiful Algarve, this is a fantastic opportunity to start their own business and put their own face on the shop.
The shop can be taken over “going concern” so you don’t have to be a pioneer. The owner like to work for 2-3 days because he can not sit down. Health problems are the mean reason we are looking for a new owner. You don’t have to be a bike mechanic but of course you need some passion to succeed. If you have good internet skills you can easily make some more business. All necessary licenses are present and also an english speaking accountant. There are a few ways to buy the shop. It can be buying shares or only Assets and Liabilities. Cash is needed because banks are not very helpful financing businesses. Price going concern is 1x turnover of 2017 witch is € 332.000,-
General information
- MBI candidate
- Strategic acquisition