PARK CITY, Utah (BRAIN) — Park City Bike Demos, a retailer offering rental and paid-demo bicycles that are available for sale, is selling the business’s assets for $120,000. The money will be used to pay the company’s debtors. While the sale will not include any inventory, it does include a low-cost lease on the shop’s 2,800 square-foot space, the business name, website, and other assets. With an asking price of nearly $750,000, previous attempts to numerous parties to sell the business in its entirety were unsuccessful.
Andre Shoumatoff founded Park City Bike Demos in 2015 in two former bread trucks turned demo rigs that traveled to customers and trailheads to allow riders to demo bikes from several brands before buying. Its model was designed around discounts and extended payment terms that most brands offer for rentals and demo bikes to retailers. The business later moved into a brick-and-mortar store in Park City, providing demos from about 12 different companies, including Felt, BMC, Devinci, Transition, Knolly, Stromer, Argon 18, Faraday, and others.
“The only exception we had to ask of brands is that they allowed us to sell our demos and rentals year round, instead of at the end …read more