Bicycle Shop Seeking Loan in Akola, India

- The business specializes in the retail, sale and distribution of bicycles, tricycles, e-bicycles, fitness equipment and battery operated children's toys. The business primarily deals with the sale of bicycles.

- Distributor of bicycles for popular brands such as Hero Cycles, Hercules, TI Cycles, BSA, Montra, SK Bikes (Gang and Huge brand).

- Sell over 1,000 cycles per month through off-line retail and wholesale operations and 100 cycles (approx 10% of volume) through e-commerce retail sites like Amazon. The business also sells around 15 e-bicycles and 10 fitness equipment (Hercules brand) per month.

- At present, the business has decided to suspend sales through Amazon and develop its own website. The company website is not live currently.

- The price of a bicycle ranges from INR 2,500 to INR 14,000. The sales are more concentrated on the lower priced bicycles.

- Have 4 primary suppliers for our bicycles.

- The business maintains 1,000 bicycles in inventory at any given point of time.

- Have a credit period of 21 days to repay suppliers. Due to the COVID-19 pandemic, the business' suppliers wants to reduce the credit period.

Bicycles, tricycles, e-bicycles, fitness equipment (exercise bikes, treadmill etc. ), bicycle spare parts and accessories, and battery operated toys for kids.

Own warehouse that that has an area of 3,200 square feet. Have a retail shop of 600 square feet that is owned and an attached property of 4,500 square feet that is rented. Currently, the business doesn't pay any rent for the property since the business owner has reached an agreement with the landlord. However, the business pays taxes on the property. All the properties are located in a market area.