SOLD
Business Overview
Due to personal circumstances, the owners of the hugely successful SportsPower Singleton are looking for a fast sale and will consider all reasonable offers.
Located in the beautiful Hunter region of NSW, SportsPower Singleton is an exceptional opportunity to purchase a profitable growing sports retail business.
The premises look exceptional in every facet, featuring a modern and intentional fit-out, with an extensive range of footwear, clothing, equipment, and accessories from leading brands such as Nike, Adidas, Asics, New Era, and many more.
The business has continued to see significant increases in turnover over the past 3 years, resulting in:
FY20 $619,051.82
FY21 $681,048.40
FY22 $811,140.00
FY23 - Year-to-date revenue is up over 40% from the same time last year.
The current lease is in place until November 2023 with a favourable 2 x 5-year option to renew, securing the incoming vendor until at least 2033.
With a low-staff business model, this is an excellent business for an owner-operator to purchase a profitable business whilst retaining a great work/life balance.
Adjusted Net Profit for FY22 was $244,696.18
The owner is prepared to assist with an extensive handover if required, which can include 12 months of mentoring for the owner.
The vendors are highly motivated to sell and all reasonable offers will be considered, so enquire today and submit your interest, this opportunity will not stay on the market long.
Features
Growing revenue year-on-year
Modern fit-out
Excellent location on a busy main street
Favourable lease terms with a 2 x 5-year option
Low staffing requirements
Support/mentorship for the new owner
Financials
NET Revenue: $811,140
Cost of Goods: $405,570
Gross Profit: $405,570
Other Income: $27,277
Expenses: $188,151
EBITDA/Net Profit: $244,696
Approximate stock value $250K