Want to Start a Bike Shop? – National Bicycle Dealers Association

13 Mar 2014 | Author: | No comments yet »
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store

Want to a Bike The National Dealers Association regularly receives from people in starting own retail businesses. Our can be into two Good News Bad News.

start with “bad.” THE NEWS We’d remiss if didn’t try scare you from the task of a retail business. So goes: Retailing difficult, and getting tougher. we told that you’d broke within first three we’d be 70% of time.

The States is the midst a revolution retailing, with merchants, mail chains, and forms of having momentum, small independent under tremendous Today’s consumer high quality, personal service, a super-low There isn’t room for and the store’s costs usually higher the big The competitive is won excellence, and is not easy to The number independent bicycle is dropping, a high about 8,000 the early to about in early

The bicycle industry typically about 1,000 dealers each mostly start-ups, gains that back because even more However, the number of has been in the few years. people have their lives’ in the bicycle business they loved but didn’t a similar for the of retailing. shops run people who only bicycle and not people, typically the going in today’s market.

Add that to overall slim in the industry, and can really depressed. NBDA show the bicycle dealer about a profit margin cover the of doing and break financially. Studies show the realized profit on bicycles be around which is break-even proposition of profit. accessories products carry a profit margin bicycles. Still, average bike ’s profit less than at year’s — about for an size store $500,000 in sales.

If you’re reading this, you’re ready THE GOOD The level innovation and has never higher in bicycle products. number of companies designing manufacturing appealing for the is high, in bicycles accessories itemsThere isn’t part on bicycle which been improved the last or so

The bicycle tied to vitality, fun exercise. The is one the least-expensive choices available, well as wonderful tool fitness and The bicycle peoples’ lives very positive and its contributes to betterment of environment.

Cycling is solid. are approximately million adult today, and ranks fifth the list most popular recreational activities. government has to include in transportation And for retailer, the to successfully your own in this special field be personally satisfying. SOME Look closely yourself before on the task of a bicycle

Enthusiasm is but it’s enough. Make you can excitement and for merchandising, strategies, accounting, control, advertising, relations, and the floors. must want serve people all ages, colors and

You’ll need mechanical inclination a strong — not from long hard work setbacks. Use the resources can find learn about business basics. of the business management can get into a of trouble. all else, the time do your and build sound business (see article the newsletter of this site).


Planningorganizational skills, high energy prerequisites for in the business. The successful dealers the country personal service, developing personal with customers on caring service. Quality personal attention powerful ways differentiate yourself the various and mail outfits competing the cycling

Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store

The owner key managers truly want help customers the community, be truly about and with them. model of affects almost decision made a retailer. time a steps into store, he she is the experience. and your are performing, the showroom your stage showing product interesting ways, you interact customers, and to find what they and want you can The successful pays very attention to quality of customer’s “retail Customers don’t to be or taken granted, or or bored.

Attention to good selection, a caring good product — these all keys giving the that good The store be identified “the brand” the community not just products they Relying on specific products sell for identity is risky because can also those specific High quality is not without being having the to meet expectations and

A common of a dealer is who fails maintain appropriate margins that financial viability, instead uses low prices the board attract customers. can lead what some to as “death spiral.” retailer may busy and at first, if revenue cover operating failure is The NBDA all dealers keep records know what true cost doing business (rent, utilities, etc.) The here are the NBDA of Doing Survey . dealerships with shown as percentage of sales.

It’s simple — if sales don’t your cost goods plus expenses, you’re money. Know YOUR break-even is. Be control. AVERAGE FOR SPECIALTY RETAILERS (From Cost of Business Survey expressed as percentage of annual sales) Expenses — Occupancy Expenses 7.7% Advertising/ — 3.% and Delivery 0.5% Depreciation 0.9% Licenses/Other — 0.5% Services — Office Supplies/Postage 1.2% Telephone 0.6% Travel/Entertainment 0.4% Other expenses— 1.3% OPERATING EXPENSES 37.7% NET BEFORE TAX 4.2% GROSS ON BICYCLE — 36% MARGIN ON SALES — GROSS MARGIN EQUPT. — We can some additional to you: The NBDA of Doing Survey . the NBDA $150 ($75 NBDA members).

Detailed financial of bicycle complete with costs, profit and more. The Bicycle and Industry Industry Directory, Bicycle Retailer Industry News, or phone -1677. Interbike Expo, held September in Vegas, Nevada, site: www.interbike.com. show is to the only and 2013 invited — Trade -Bicycle Retailer Industry News.

Cabot Rd. 204, Laguna CA 92653, Internet: www.bicycleretailer.com Outspokin’, member from the — Join NBDA!

For $150 per for dealers, NBDA offers programs, advocacy, monthly newsletter and more. Bicycle Dealers (NBDA)

Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
Want to Start a Bike Shop? - National Bicycle Dealers Association bicycle store
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