Open a bike shop ??

sprintkid

I keep toying with the idea of opening a bike shop, am I mad or not :shock: ? Is it such a good idea in this day and age of the internet?? :?

andyp

There's a famous phrase - how do you make a small fortune in the cycling industry? Start with a large one!

I personally don't think your mad, especially given the current boom in cycling, but suggest you do some serious market research first to find an area where you're likely to thrive.

A good LBS is worth it's weight in gold so there is definitely a market out there but you've got to get your market proposition just right for any shop to do well.

Welsh Pirate

Its something that I have long thought about and would like to do someday.

There will always be a need for a good quality LBS, the challenge is to become established as one and be able to shift sufficient stock to make a living from it.

You could use an internet site to generate turnover to run alongside a LBS - Fat Bird's Don't Fly and Pearsons are two such shops which do just that.

It would be one hell of a challenge, but in the right area, there is no reason why it couldn't succeed!

BeaconRuth

I know of two local bike shops that have been started from scratch in the last 5 years and which are frequented by my clubmates. Both appear to be thriving by being extremely helpful and knowledgeable and by gaining the confidence of keen cyclists who become regular customers and pass on the recommendation to friends. Neither is particularly trying to address the kiddies, non-regular-cyclist market. I'm guessing (but don't know) that it's hard to be all things to all cyclists, but if you do specialise and you are VERY good at what you do, you can carve out a niche. Here's one great example of an LBS which has built up an excellent reputation from scratch amongst experienced cyclists in the last couple of years:

http://www.echelon-cycles.co.uk/

Ruth

nickcuk

I don't know about selling bikes but there seems to be a surge in bike repairs / maintenance / set-up / upgrades. Get a decent workshop, stock a load of good spares and see how it goes !

sprintkid

Thanks for all the comments guys. I've got to say I'm seriously thinking about it. I even checked out rental prices on a few shop's today. So watch this space.

Monty Dog

Don't expect to get rich in the bike trade - maybe pride and satisfaction. Work on your reputation and service - that's why people come back and particularly being able to offer a good servicing operation. The thing that kills the small trader is cash-flow - unless you've got a generous benefactor, go easy on the stock and only buy what you know what you can sell - try not to be too temped by the generous discounts distributors offer for bulk orders and commitments at the beginning of the season. Finally, reliable and trust-worthy staff are essential - sadly I know of a number of places who went bust because of staff and their mates helping themselves.

fossyant

I'd love a bike shop...go for it, but do your research first...

emaichael

Welsh Pirate wrote:

Its something that I have long thought about and would like to do someday.

There will always be a need for a good quality LBS, the challenge is to become established as one and be able to shift sufficient stock to make a living from it.

You could use an internet site to generate turnover to run alongside a LBS - Fat Bird's Don't Fly and Pearsons are two such shops which do just that.

It would be one hell of a challenge, but in the right area, there is no reason why it couldn't succeed!

make sure the shop is near a cafe, you will get lots of cyclists on club rides using the cafe, then popping into your shop maybe, for a quick browse, or a chat, etc. business will boom
stock the lycra etc for the clubs to buy (maybe with there logos etc on,

nickcuk

Perfect combination = a cycle-friendly cafe / bike repair shop / 'massage' parlour / off-license / handbag shop (for the ladeeees )

knedlicky

I have a good friend with a bike shop, and know another two ‘acquaintances’ with one. My impression is that it’s hard work to meet ends meet, as assistants you need keen and capable apprentice-type lads who are satisfied with little money, or interested family members with same financial disinterest.
You might also need to be prepared to orientate yourself partly around what isn’t your main interest, e.g. lots of trekking and city bikes, and kids’ bikes, maybe even things/sports only marginally related, like rollerskates/inline-skates or other outdoor activities.
You might nonetheless flop in your bed more satisfied with your life, so good luck I you go ahead.