Local bike shop
Discussion
The PH vultures are circling
It’s very rare that a successful small business is advertised for sale in my experience
It’ll remain in the family or go to an employee on a payment plan
Most for sale (small businesses) are dead ducks..
They want a premium for non existent goodwill and generally lease premises so there’s little value there.
I don’t blame the owners, they’ve put everything in, have to find a job and often have a value based on there efforts.
Your best off starting from scratch or waiting for a closure or distress sale.
It’s very rare that a successful small business is advertised for sale in my experience
It’ll remain in the family or go to an employee on a payment plan
Most for sale (small businesses) are dead ducks..
They want a premium for non existent goodwill and generally lease premises so there’s little value there.
I don’t blame the owners, they’ve put everything in, have to find a job and often have a value based on there efforts.
Your best off starting from scratch or waiting for a closure or distress sale.
Thankyou4calling said:
The PH vultures are circling
It’s very rare that a successful small business is advertised for sale in my experience
It’ll remain in the family or go to an employee on a payment plan
Most for sale (small businesses) are dead ducks..
They want a premium for non existent goodwill and generally lease premises so there’s little value there.
I don’t blame the owners, they’ve put everything in, have to find a job and often have a value based on there efforts.
Your best off starting from scratch or waiting for a closure or distress sale.
From my experience it would appear as if you're right in most cases, I have found a couple that seemed to be genuine retirement sales but the others have been hoping for a naive person with more money than sense.It’s very rare that a successful small business is advertised for sale in my experience
It’ll remain in the family or go to an employee on a payment plan
Most for sale (small businesses) are dead ducks..
They want a premium for non existent goodwill and generally lease premises so there’s little value there.
I don’t blame the owners, they’ve put everything in, have to find a job and often have a value based on there efforts.
Your best off starting from scratch or waiting for a closure or distress sale.
Current option is interesting but valued quite high IMO & for the money I'm thinking I'd be just as well to start from scratch in a different location, obviously need to do a lot of work to get paperwork right & get (leased) premises fitted out etc but would probably work out cheaper.
One of the significant issues of mom and pop businesses is that the owners put a high value on “Goodwill”
Unfortunately there is pretty much no value in this.
Open next door, 2% cheaper and your loyal customers will go there.
So you are often left with a shop with out of date fittings, stock that you buy which you could get on SOR and a heap of customers who were promised something by the previous incumbent.
These things usually end in tears.
Customers have zero loyalty, shop fittings have zero value.
Unfortunately there is pretty much no value in this.
Open next door, 2% cheaper and your loyal customers will go there.
So you are often left with a shop with out of date fittings, stock that you buy which you could get on SOR and a heap of customers who were promised something by the previous incumbent.
These things usually end in tears.
Customers have zero loyalty, shop fittings have zero value.
Owners bit of a t
t misdescribing a dead duck. If the OP or another went for it it would have been a stitch up. Same as when someone tries selling a broken car misdescribed.
I know someone who almost bought a restaurant, she bailed at the last moment as found a better investment and the restaurant closed down shortly after. The owner wasn't retiring or moving away ...
t misdescribing a dead duck. If the OP or another went for it it would have been a stitch up. Same as when someone tries selling a broken car misdescribed.I know someone who almost bought a restaurant, she bailed at the last moment as found a better investment and the restaurant closed down shortly after. The owner wasn't retiring or moving away ...
I have no interests in bicycles or bike shops but I do have an interest in musical instruments and music shops, and there are many similarities between the two types of business. I notice there are a good many music shops for sale including a well established one near me and I'm not surprised that it remains unsold.
I can well imagine that there would be people who would go into such a shop and try out a number of instruments and leave without buying anything. They could then order it for less online, and then try it out at home for a while knowing they as they had bought it mail order could send it back if they didn't like it after all.
I expect coffee shops etc will do ok for the time being but specialist B&M shops that don't have a strong mail order side must be staring in to the darkness.
I can well imagine that there would be people who would go into such a shop and try out a number of instruments and leave without buying anything. They could then order it for less online, and then try it out at home for a while knowing they as they had bought it mail order could send it back if they didn't like it after all.
I expect coffee shops etc will do ok for the time being but specialist B&M shops that don't have a strong mail order side must be staring in to the darkness.
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