I just opened a bike shop on a shoestring budget, I'm focusing on kids bikes, commuters, foldies, step thrus and a few fixies. I'm also doing art prints, vintage jerseys and books. I'm holding back on compression wear , mountain and gravel bikes. Servicing and repairs is good, going to be doing ceramic coating etc
Hi @theUntypicals it sounds like you are starting an interesting shop which I guess will have plenty of character thanks to the prints and jerseys. Ceramic coating is a great idea and a service we hadn't considered. I hope it all goes well for you, good luck!
good luck, but you need to know that you can quickly end up with huge debt in the bank. The margin in the industry is simply too low - 35% maximum, but now everyone is selling with a 50% discount and this will not change soon. Add all the monthly costs and you are fucked up. I've been there for 7 years, ended up completely broke :)
Great video/talk... I have shared with our independent mechanics, a time to work together and see IBS as a cycling community. Serve the customer, and keep them engaged. Cycling rides local and share where to ride, plus the change in market with bike sales shift, commuter bikes to grow in towns and cities and what to except for 2024... Great Cycle Trade Insights Thank you.
Hi @CycleTechUK thanks for the feedback. Agree, potentially so much change ahead and better to embrace it and work together rather than every individual fighting on their own.
I would say what you’re describing is pretty much is what I (a customer) am seeing here in Canada. Interesting, even though we’re an ocean away! Bike shops are overstocked with more entry level bikes that sold like hotcakes during the pandemic, but don’t have many buyers anymore…
Hi @Chan1881 thank you for the info. It is interesting to read that it isn't just North Wales, but shops all over the world that are having the same experiences.
Exactly, every bikeshop I walk into it's stocked full of mountain bikes. I don't know anything about them as they all look the same to me. They don't sell at all. I feel bad for the shop as I know they would be struggling.
Hi @JFomo, thanks for the interesting feedback. Let's hope that your Local Bike Shop is able to keep going and find a good way to make the most of those MTB's that aren't shifting.
I just opened a bike shop on a shoestring budget, I'm focusing on kids bikes, commuters, foldies, step thrus and a few fixies. I'm also doing art prints, vintage jerseys and books. I'm holding back on compression wear , mountain and gravel bikes. Servicing and repairs is good, going to be doing ceramic coating etc
Hi @theUntypicals it sounds like you are starting an interesting shop which I guess will have plenty of character thanks to the prints and jerseys. Ceramic coating is a great idea and a service we hadn't considered. I hope it all goes well for you, good luck!
good luck, but you need to know that you can quickly end up with huge debt in the bank. The margin in the industry is simply too low - 35% maximum, but now everyone is selling with a 50% discount and this will not change soon. Add all the monthly costs and you are fucked up. I've been there for 7 years, ended up completely broke :)
Great video/talk... I have shared with our independent mechanics, a time to work together and see IBS as a cycling community. Serve the customer, and keep them engaged. Cycling rides local and share where to ride, plus the change in market with bike sales shift, commuter bikes to grow in towns and cities and what to except for 2024... Great Cycle Trade Insights Thank you.
Hi @CycleTechUK thanks for the feedback. Agree, potentially so much change ahead and better to embrace it and work together rather than every individual fighting on their own.
I would say what you’re describing is pretty much is what I (a customer) am seeing here in Canada. Interesting, even though we’re an ocean away!
Bike shops are overstocked with more entry level bikes that sold like hotcakes during the pandemic, but don’t have many buyers anymore…
Hi @Chan1881 thank you for the info. It is interesting to read that it isn't just North Wales, but shops all over the world that are having the same experiences.
Exactly, every bikeshop I walk into it's stocked full of mountain bikes. I don't know anything about them as they all look the same to me. They don't sell at all. I feel bad for the shop as I know they would be struggling.
Hi @JFomo, thanks for the interesting feedback. Let's hope that your Local Bike Shop is able to keep going and find a good way to make the most of those MTB's that aren't shifting.
The Giant shop near me closed permanently 2 years ago, said they couldn't get bikes anymore
That was probably true 2 years ago - very different story now. A real example of boom and bust.
Please turn up the volume in the post production. This video is simply not loud enough, difficult to listen on a computer.
Thanks for the feedback. Noted and I’ll make sure I pay more attention to sound level next time.
price of bikes are getting crazy!!!!
Yep, there are some fantastic bargains out there at the moment!
E-bikes are the fastest growing segment, but bikeshops are unwilling to service or sell them.
Interesting that you say that @dukeloo. Where are you in the world? All the shops around here sell them and most are able to service them.