I've been in the bike retail business on and off for 27 years and this is what I have learnt. The best way to make a retail shop work these days is to have a real point of difference to your local competitors. Having a high level of experience in repairing modern bikes (lots of training for your staff) knowing where to source the correct parts, having the right tools to do the job (very important) and charging a price that goes with the quality of service you provide, are the best tools to have to making any shop profitable, as well as not carrying to much stock. You're not going to get really rich running a bike shop, but you make a lot of people happy along the way and it's generally a fun environment to work in. Maybe do a little stock market dabbling on the side for some extra fun coupons!
Oct. 24, 2017, 6:12 p.m. - Doug Hamilton
I've been in the bike retail business on and off for 27 years and this is what I have learnt. The best way to make a retail shop work these days is to have a real point of difference to your local competitors. Having a high level of experience in repairing modern bikes (lots of training for your staff) knowing where to source the correct parts, having the right tools to do the job (very important) and charging a price that goes with the quality of service you provide, are the best tools to have to making any shop profitable, as well as not carrying to much stock. You're not going to get really rich running a bike shop, but you make a lot of people happy along the way and it's generally a fun environment to work in. Maybe do a little stock market dabbling on the side for some extra fun coupons!