How to Start a Bicycle Shop
If you have a passion for biking, learning how to start a bicycle shop could well be the business idea for you. As the owner of a bicycle shop, you will have the opportunity to sell bicycles to other biking enthusiasts and, in doing so, contribute to the health, fitness, and general pleasure and happiness of others. Many people are looking into how to open a bike shop, as recent statistics show that there are about 45 million adult “cyclists” today, and cycling ranks fifth on the list of most popular outdoor recreational activities. If you would rather run this business from home, opening an internet bicycle shop is also a wonderful online business idea.
You will, of course, need to have some storage space for your inventory if you choose to go the online route. After learning how to open a bicycle shop, you’ll be serving a passionate crowd, so you’ll want to know the different makes and models and understand which bike to recommend to each rider. Moreover, you’ll also be contributing to the betterment of the environment, as many people have started turning to bicycling as a cheaper and more environmentally friendly alternative to their car, at least for getting around locally.
Selling Bicycles Idea
In addition to selling bicycles, you can also offer biking accessories such as pumps, helmets, spare parts, and so on. By doing so,o you’ll greatly enhance your profits as the margins on accessories are generally quite high. You can also offer bike repair services if you operate in a storefront. Added to all this, no special qualifications or training are required to open a bicycle shop. Passion and enthusiasm are the only requirements, as the success of your bicycle shop will to a great extent depend on the excellent customer service that you and your staff will provide to your clients. If you can do that, you’ll have a great chance of building a profitable business selling bikes and serving others who share your love for biking.
A Day in the Life of a Bicycle Shop Business Owner:
If you operate a storefront, you’ll typically want to be ready to open up your store by around 9 a.m. or so. Throughout the day, people will enter your shop and you’ll provide excellent, enthusiastic, and informative customer service as you help your clients select and buy the best bicycles and accessories for their needs. A typical day would end around 6 p.m., at which time you’d close up your shop, ensuring that it’s tidy and ready to open for business again the next day. Yo,u can of course hire staff to serve customers and open and close your bike shop for you.
Other typical daily activities will include keeping an eye on your stock and ordering new bicycles and accessories to keep stock levels high. If you operate an online bicycle shop, your hours do not have to be so concrete. You will check orders each day and contact customers with any questions. You will coordinate shipping of bicycles and accessories to your customers and deal with manufacturers and distributors to keep a good supply on hand of the most popular bicycles.
About Your Customers:
Your customers will be people looking to buy new bicycles, or parts and accessories for the bikes they already own. Additionally, if you run a storefront business, your customers may come to you for your help repairing their bikes if you choose to offer a repair service.
What You Need to Start:
- A bicycle shop business plan
- Marketing plan
- Storefront or website
- Inventory (a range of bikes, biking accessories, etc.)
- Staff (if you have a physical store)
- Business license and insurance
- CA computer with finance software
The Good:
- If you have a passion for biking, you’ll be doing work you love all day.
- You’ll be contributing to the betterment of the environment, as many people are buying bikes as an alternative to using their cars.
- No special qualifications are needed.
- You’ll be helping people become healthier and more fit.
- Cycling ranks fifth on the list of most popular outdoor recreational activities, so you’ll be serving a hungry crowd.
The Bad:
- Passion and enthusiasm are requirements as bicycle retailing can be very competitive, so the outstanding customer service you provide will be the key to you standing out from larger stores.
- You will need to be very committed and work hard to make your bike shop a success, at least in the beginning.