How to Start a Bicycle Sales & Repair Business – Business plan format

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How to Start a Bicycle Sales & Repair Business – Business plan format

Love biking? Why not start a business combining it with your passion for these metallic happiness. Share your love and care for like-minded people. With cycling trend on the rise, your business definitely has a considerable market. Now the question is how to succeed in this venture? Possibly through a tight planning and execution.

Dealership Opportunities

First and foremost task is to find out about the dealership opportunities. You will need good contacts and a flair for impressing and networking, so that you get the dealership of your favorite bicycle brand. Getting in touch with suppliers is a good idea. One must also take into account the popularity trends and various requirements for bike consumers. You might also think about dealership for other biking products like, jackets, gloves and cycling parts.




Inventory

Next, you’ll need a well-stocked inventory. For as many types of riders are out there, there is a corresponding number of different kinds of cycles. From fixed gear bikes and single speed road frames, to hybrid and touring cycles , mountain bikes;  there’s a kind of ride for everyone. Stocking them all and offering them at a competitive price can be a good strategy.

Training for employees

Another crucial point is to train your employees about latest cycling technology, fashion, and news. You must make efforts to offer a well-informed, friendly staff. Not every customer who enters your shop will have an idea about what kind of bike is right for them, few may not even realize there’s more than one kind of cycle. Offering informed service  will prove to be the best form of advertising for your business through absolutely free word of mouth recommendations.

Location of the shop

The next step is renting a space for your bicycle shop. Make sure that it is visible. You don’t want to open a shop in an area where there is poor visibility. Take into account competing shops nearby. You might want to scout around before zeroing on a space for your bicycles.

Repair part of the business

If you’re going to sell and repair cycles, having an experience maintenance team during business hours will help attract customers to your store. By considering to open a bicycle repair shop which runs alongside your business can also generate more income.  A team of employees cross-trained in both sales and repairs could be a specialty of your business.





Technology

Involving technology in any business is a necessity today. Bike shop POS systems can help keep track of what jobs are left open, and if certain repairs need specialized parts or if someone asked for specific items to be used / replaced it can be recorded in the system. Another customer service that you must try at your store is warranty. Offering a limited or extended warranty on new bikes also helps bring in return customers.

Tip Getting dealership gets tough and only those who have got good networking sills are able to get dealership of trusted bicycle brands. So take into account all the pros and cons while opening a bicycle shop.

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