Almost.....

Its in a very, very seasonal area with a low population. By the time the deal would have been finalized it would have been half way through the season which ends around labor day then it would be 7 months of making NO money while paying $6500/month rent. F that.

Maybe next year.

I did score a set of Dura Ace 7400 series STI levers attached to some Italian bar with a Bianchi quill stem and also scored an Ultegra Tri-Color STI lever as well.

6500? That's a big nut for a seasonal place.

Tampa has a seasonal shop? I would think the weather is good year round there. how big is the place?

6500 a month will kill you. It helps that it is an established shop, most new bike shops don't make it.

There are few LBS that are flourishing these days around me. It's so darn hard to compete with the box stores. 15 years ago, the bike shop I used to work at would sell 50+ bikes for Christmas. Last year they sold 4..

Sounds like St Pete Bch or somewhere down the chain. Sky high rent in season, can't give it away off.

Its not in Florida and yes, $6500 is a huge chunk of change for a seasonal shop. I told my neighbor how much rent was, he paused, took a long drag from his cig and said, "65 isnt too bad, but what the F are you going to do all winter?"

The shop does $4k worth of rentals during the summer with the 2 closest shops being 12 and 17 miles away and there are NO box stores. Zero...Zip. It has ~1500 sq/ft of floor space including the work area along with a basement that jammed packed with 300 bikes.

$5.42sq.ft., and the rentals for the whole season don't cover one month of rent.

What do the locals do in the off season?

How fresh are the 300 basement bikes?

I suspect you made a good decision.

This rent reads like a deal made during the go go times prior to the great recession. Reads more to me like time to open a shop down the street.

$6500/mo x 12= $78000/1500sqft=$52/sqft. You'd have to sell one heck of a lot of bikes to cover that!

I meant to say $4k per month in rentals.....

The towns not big enough for 2 shops. I'm not going to name the town but the rents about right....

I worked it out as $78k/yr/5 month season = $17K month - $4k month in rentals = $13K/month of net profit during the season to cover the yearly rent.

The other challenge is if you have to relocate to run it. Not only do you have the cost of relocating, but perhaps walking away from a pretty lucrative gig where you are. But I am sure you worked that out, and probably had a similar gig lined up.

Perhaps you can get some rent concessions from the landlord? Shop for sale could mean the possible loss of a tenant. Landlord might want to toss a bone or two your way.

i thought you were getting out of the game.

Yeah, weren't you getting out of this biz, a month or 2 ago.

Relocations not a problem, The Tampa condo and the house near the prospective shop are both paid off. Relocation is as simple as a Southwest plane ticket. And yes, my gig in Tampa is very good, 30-35 week w/ great benefits...we've met and talked, you probably have na idea of what my $$$$ is like.

Done with flipping. Except for the few bikes I'm keeping I've been selling off everything of value. 1 or 2 more weeks of ebay'ing and I'll be cleaned out.

Let us know when you get it, so you can give deep discounts to all your bros here!

I can already do that....