If I as an experienced bike mechanic were to start a bike shop with another long-time friend of mine who is one of the best bike mechanics I have ever known… what would we have to do or have in terms of money and inventory. Tools, stand and store are ready, we just don’t know how to go about setting up accounts with vendors and then how much to buy. How does all that work?
I don’t want to come off as being a jerk - but a thread like this was on the forum last week - and unfortunately - I think the general consensus will be - that if you have to ask here - then you shouldn’t open the store - I’ll try to find the thread for you and re-post.
The best wrenches in the business don’t often make the best store owners - yet sometimes they do.
The best store owners in the world don;t often make good wrenches - that’s why they employ them
I agree, if you have to ask you are in over your head. I decided not to open my own martial arts school based on 3 years of research into what it would take to do this and be sucessful. I currently work for a very sucessful gentleman who owns 2 schools that are doing well. We both looked at areas I could open in, traffic flow, current trends in the industry, intial start up costs, customer demographics, competeing activities in a given area, and my own personal expectations. Consequently, I decided I would end up being 50 grand in debt with nothing to show. I am an excellent instructor, but I don’t think I could make a school go in the local market. Do your research, take some business classes and get in touch with local entrepenauers (?), then make a decision.
<<The best wrenches in the business don’t often make the best store owners - yet sometimes they do.>>
This is true for any profession.
The second part of the sentance is redundant. You played with the words often and sometimes. Therefore, I have concluded that 146 might be the number of miles you are able to cover. Cetainly not your I.Q.
gee thanks - to put it in more simple terms for you - there is always an exception to the rule!!!
How’s that sound?
It may just be that not only is our friend here a great wrench - he may just have what it takes to be a good store owner.
I do not know him and from his short post - I am certainly not going to jump to conclusions that just because he is a great wrench - he won’t be a great store owner.
So Pluto - go find Minnie and Mickey - it must be almost time for your glass of milk and midday nap
Thanks SAC!!
These past few days have been killing me!
I recommend you read the book - The Flying Scot (Graeme Obree). I find it as one of the most inspirational cycling books and very insightful. One of the things that Obree did a few times in his life is starting a bike shop. From the time trial bikes he has built and designed there is no doubt he was a very good bike mechanic (or wrench as you call it). He almost always failed in his business ventures.
<<go find Minnie and Mickey - it must be almost time for your glass of milk and midday nap>>.
You are confusing me with Goofy.
Pluto -
you seem to be communicating from Uranus today.
are you lost?
If you heard Demerly state it, owning a bike shop is the worst thing to ever have saddled upon you.
Don’t do it.
I gave an example of a great cyclist, an innovator and yet could not run a bike shop. Why speaking from another planet. But perhaps you meant it in a positive way. Pluto is not only much smaller and less massive than every other planet, it is also smaller and less massive than seven moons of other planets. However, Pluto is larger than any minor planet in the main asteroid belt, and was larger than any other object discovered in the trans-Neptunian Kuiper belt until 2003 UB313 in 2005. So comparing Pluto to Uranus is probably a good thing.
But I am not sure about Uranus. Sounds like a combination of urine and anus.
No, that is a significant misinterpretation of everything I have written about being a bike shop owner. A more balanced and fair summary of what I have written and said about being a bike shop owner would contain these points: Being a bike shop owner is demanding in terms of time and dedication. It is best suited for someone who is not adverse to risk. It is best suited for a person who is used to extremely long hours, thinking outside the box, has thick skin and a strong desire to succeed. A strong enthusiasm for the sport is probably important to keep you motivated during the times when “just getting a job” is appealing. It is a relatively low income job. If you want to maintain an upper middle class lifestyle be certain your financial assets are in place before you begin and do not rely on the store for income. A military career or military service is excellent preparation for owning a small business. It is similar to running a war in a third world country with little or no support and constant exposure to adversity. You either love this sort of thing and aren’t cut out for anything else, or you won’t cut it. You’ll know in six months. I worked a “job” on several occasions and went to school for computer science. I didn’t care for it. I enjoyed being in the mlitary where the demands were high and so were the rewards. Same goes for the bike business. When you do a nice job building a cool bike and someone looks perfectly positioned on it you go home with a big smile on your face becasue you just did something unique and unusual. That is good. Not all compensation is monetary.
I have read your complaints about the hours, the fact that you drive an old, crappy car, and that you make no money on bicycles. I also read about how it is a horrible thing to even ask for a discount on anything. This is why I have interpreted you saying that owning a bike shop is the worst thing to ever happen.
Just an observation.
An experienced mechanic with little business experience should team up with someone who has business experience…partnership.
I have vast experience starting and running start-up businesses.
And with ANY business I highly recommend you work and learn in someone else’s business before venturing out on your own…in otherwords, learn on someone else’s dollar. However, don’t just work in their business as a mechanic…you must work in their business in EVERY area of their business…“LEARN” their entire business from mechanic, to sales clerk, the manager, to bookkeeper as if it were a college class (but take it more serious than college!).
Persistance and patience is what makes a business succeed…one must never give up. Hey, that’s kind of like competing in an Ironman…