The SHOCKING Truth About Owning a Bike Shop. Is Owning a Bike Shop Right for You? or Should You Open a Bike Shop in Today’s Market? or Can You Make Money Owning a Bike Shop?
Also, check out this guy’s experience, less than one year of owning a bike shop:
@gograva
And:
@ReCyclesBikes_
https://youtu.be/VgNQuzqizdo?si=qTdzJaKiQMgcusvW
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Featured in this video:
Kool Stop Replacement Brake Pads for Shimano Deore LX Cantilever Holder/Full Set of 4 Pads
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🛠️ Shop Tools to Parts That I Use in the “Garage Shop”: https://www.amazon.com/shop/iknowaguybicycles
🚿 15% Off Lithium Products that I used in this video: https://lithiumautocare.com/?ref=IKnowAGuyBicycles
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The dream of owning a bike shop often stems from a deep passion for cycling, but the reality involves much more than just bikes. The modern bike shop operates in a complex and competitive landscape. Margins on new bike sales can be tight, requiring a high sales volume or a strong focus on higher-end models to generate significant profit. The rise of direct-to-consumer brands and online retailers has intensified competition, necessitating a robust online presence and a strong emphasis on customer service and in-store experience. Diversification of revenue streams is crucial, with successful shops often relying on a combination of new bike sales, repairs and service, parts and accessories sales, and potentially even rentals or organized rides/events. Managing inventory, staffing, and customer relationships effectively are essential for long-term success. While the passion for cycling can be a powerful motivator, a solid business plan, strong financial management, and adaptability to changing market trends are critical for anyone hoping to thrive in the bike shop industry.
See What I Use To Refurbish Bikes (Affiliate):
Tools I Use Daily:
🛠️ Workstands and Tools: https://iknowaguybicycles.com/guys-picks/workstands-tools/
🚿 Polishing/Cleaners/Lubes: https://iknowaguybicycles.com/guys-picks/polishes-lubes-and-cleaners/
🛞 Tubes & Tires: https://iknowaguybicycles.com/guys-picks/tubes-tires/
🚲 On-the-Road Accessories: https://iknowaguybicycles.com/guys-picks/tubes-tires/
My passion for bikes started when my parents opened a shop in the 1980s called Parker Bikes (we were located in Parker, Colorado). My love for cycling has continued since then, in my work and with my hobbies of road cycling and mountain biking. After my parents’ shop closed, I worked for other bike shops (including Lee’s Cyclery in Fort Collins), where I built and sold bikes, fixed and tuned up bikes, and managed inventory.
I love working on bikes and want to share my passion for cycling with others. So, next time you’re talking cycling with someone and wondering how to get started or where to go from here, you can think, “I know a guy!”
Recommended playlists:
✅This Old BikeChannel: https://www.youtube.com/@This_Old_Bike
✅This Old Bike | Hanging Out With The Guy
✅Buying & Selling Tips
✅What I Use in the SHOP
✅Top 20 issues to watch out for when buying Used Bikes: https://www.youtube.com/playlist?list=PLdfUXv0-z1u44u8bKyttGxyOE7y58dZga
✅Top 5 Checklist: https://youtu.be/JG-OeRTm1ps
Where to find me:
🩷 Website: https://iknowaguybicycles.com
❤️ “The Guy’s” T-Shirts: https://i-know-a-guy-bicycles.myspreadshop.com/
🧡 Bikes: https://iknowaguybicycles.com/product-category/bikes/
💛 Parts: https://iknowaguybicycles.com/product-category/accessories/
💚 Facebook: https://www.facebook.com/IKnowAGuyBicycles
💙 Instagram: https://www.instagram.com/iknowaguy_bicycles/
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📬 Attention Companies: If you are interested in working with me, don’t hesitate to get in touch with me here at justin@iknowaguybicycles.com