Eds0123

Does anyone know how to start bicycle shop business and be successful at it?. There are bicycle shops up for sale here and there. I have 3 bicycles and I have been out of work for sometime. I like working on bicycles and owning a shop but I don't have much experience running a shop or bicycle repairs. I understand that very hard work, customer service, advertising and social media presence is crucial as well as good service and a nice clean shop floor, Please brain storm anything you might know or your experiences as a consumer, as bicycle repair technician or as a shop owner.

Thank You.

I-Like-To-Bike

I've heard that the way to own a one million dollar bicycle shop is:
Put two million dollars into it.

Good luck!

Machka 

Yeah ... put your money in the bank, and walk away from the bicycle shop business you're considering.

nfmisso

First of all, you are approaching the problem from the wrong end. A shop, any shop, is a business first - and all the entails, and whatever product is offered 2nd. Running a business is a WHOLE LOT HARDER than being an employee.

What is the market opportunity for bicycles in your area?
What is the competition?
What sort of business license and insurance are required?
Servicing bicycles means HUGE liability potential.

"I have been out of work for sometime" doesn't bode well for the local economy. And not to get personal; but marketing and salesmanship is a huge part of running a successful shop. If you haven't been able to sell yourself to potential employers.....

unabowler

Get a job at a shop, work there for a while to learn the ins and outs and see if you really want to do it.

wphamilton

If I were in your shoes, I'd be asking business people rather than bike people.

fietsbob

perhaps you can find a older shop owner ready to retire, and they can train you how to run the business , that you will buy from them.

advantage: you have all the suppliers contracts Insurance , over head and history and the community business sales data already set up ,
to help with the bank loans you will need to 'own' the business ..

there is a lot of juggling bank loans vs sales to pay them with.

Siro

In terms of cycling, I'm pretty new to the world. Regarding owning a business, I've owned several over the last 10 years. There's only one piece of advice I have to offer: if you have to ask in an online forum, you shouldn't even be considering opening/buying a business. To use a really bad analogy - would you purchase a helicopter without knowing how to fly it? If your answer is yes, you're just being unrealistic.

OldTryGuy

Ran the family bike shop for 15 years and I like the above answer the best.

Too much time for not enough $$$$$ unless you have more $$$$$ than you know what to do with.

big chainring 

I was talking to a bike shop owner of 40 years. His shop is in a converted farm house. The house was in the family for years, and paid off. He told me that if he had had to pay rent he would never have made it in the bike biz.

wahoonc

To make a small fortune in the bike shop business you must first start with a very large fortune...

I would work for someone else first...

Aaron

steve0257

Why are the bike shops for sale? Weren't they making enough money to stay open?

wahoonc

Possibly, also perhaps the owner(s) want to retire, or do something else for a change. Or maybe, like in our case there were health issues involved.

Aaron

Altair 4

First thing I would if considering opening or buying a business would be to contact the local universities to see if they offer any assistance in small business management. My wife was considering something along these lines at one time and found that there were resources out there to assist in assessing the feasibility of a small business. I can't recall the cost, but it may have even have been free as part of the Business Admin department.