Feedback on Used Bike Business Idea

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1

Hello All, My name is Ross Hennessy and I am looking for a “proof of concept” so to speak. Over the past year, I have been building up bikes for people in my spare time. The goal of all of the builds, was to help them achieve their dream bike, without them having to shell out bike shop prices, or spend their time digging though craigslist. Below, I have the basic outline to this concept, and want your feedback on:

  • If you think this is a viable idea
  • If you would buy a bike in this manner
  • What questions, concerns or thoughts you would want to have answered BEFORE you went through with something like this.
  • Any other thoughts or feedback you have
    Thank you for you time, I appreciate any and all feedback!

My Custom Bike

Who wouldn’t want a flashy superbike? You just can’t beat the feeling of a race ready, super light bike as you crush your climb. Or maybe it’s that dream TT bike rocketing you though the field in comfort and style. However, with bike prices becoming more costly, not everyone wants to drop their whole years paycheck on the newest S-Works. And let’s face it, sifting through craigslist for a used bike can be a pain. That is where I come in.
My goal is to help you build your dream bike, at a fraction of the cost of going to a traditional bike shop. Plus, it will be exactly how YOU want it, not just how it came.
Who am I? Someone that loves bikes. I obsess over every detail and love nothing more than searching the internet looking for the best deal, on the coolest components. I am also someone that hasn’t had the biggest budget, but doesn’t let that get in my way of building up the best rigs I could get. I’ve found a passion in building badass bikes for a fraction of the cost. Being from a family of long course cyclists, I have a vast understanding of bike components and the desire to have it done just right.
What Do I do? I build super bikes, for mortal prices. I search out the best deals for the best bikes. This could mean building up a top of the line bike on lightly used parts. Or piecing together a race ready ride with new components and a used frame. Whatever you and your budget want, we can build. You tell me the dream or goal, and I do all the work to make it happen.
How does the process work?

We work together to figure out exactly what you want your bike to be, the time frame you want to have it in, and the budget for the build.
I get to work searching and building your bike. You get updates on progress, every step of the way.
Once its built up, it will be professionally inspected, tuned, packed and shipped to you, ready to ride!

What does it cost?

I work within the budget you set out. Each bike is custom built, staring from the frame, so the cost will vary depending on what you are looking to accomplish. Some examples of what to expect are below.
Once a frame that meets your expectations is located, a 20% deposit is taken and put towards the cost of the bike.

Examples of my Custom Builds - Shipped Prices ranged from 1200-5000

Felt IA 10 Custom Tri Bike

Frame: Felt IA10
Components: Etap 11 Speed
TriBars: TriRig Alpha X
Breaks: TriRig Omega
Wheels : HED Jet 6 Plus Front, HED Jet Plus Disc Rear, Tubeless
Tires: Vittoria Corsa Speed Tubeless
Power Meter: Pioneer Dual Sided Ultegra build
Bike Computer: Pioneer Cannondale Slice Custom

Frame: 2015 Cannondale Slice, Ultegra model
Components: Shimano Ultegra with 105 Crank, 11 speed
TriBars: Profile Design Aeria Ultimate w/ Hydration
Breaks: TriRig Omega
Wheels : HED H3 Plus Front, Flo Disc rear
Tires: Vittoria Corsa Speed Tubeless
Power Meter: Powertap P1 Dual Sided pedals Fuji Transonic 2.8 Custom

Frame: Fuji Transonic 2.8, Pearl White
Components: Etap 11 speed
Bars: Oval 910 Carbon
Breaks: Fuji
Wheels : HED Jet Plus 5
Tires: Vittoria Corsa Tubeless
Crank: Rotor Flo Aero Crank Kestrel Talon Custom

Frame: Kestrel Talon
Components: 105 - Long Cage 11 speed
Bars: Oval and Profile Design Mix
Breaks: 105
Wheels : HED Jet Plus 5
Tires: Vittoria Corsa Tubeless
Crank: Rotor Oval

2

Unfortunately, your target market does not exist. Or at the very least is quite small.

Some people have enough money to build whatever they want, they’re out. On the other hand, people who are on a tighter budget probably don’t want to pay a middleman. You’re essentially looking for people who value their time enough to outsource the labor of scouring craigslist/facebook/ebay/slowtwitch, but also don’t have enough money to buy new. That’s a narrow sliver of the market. Coming up with pricing/billing that values your time at a respectable hourly rate and passing that cost on to your customers simply won’t work.

I think your idea is cool but from a business perspective has very little merit. If you’re good at making these custom builds, you will do far better sourcing the parts, doing the labor, and flipping the bikes. That makes for a significantly larger market and is much more likely to generate a decent ROI.

Edit: but if you will build me up a 56cm 2018 Scott Foil with Etap and Zipp Firecrest Clincher 404s for <$2k, I will eat crow and be your first endorsement lol

3

I think it sounds like a viable idea, it won’t make you rich, but it’s your passion, and that counts for a lot. I would be curious of the prices of the the bikes you listed. How do your prices compare with bicycle blue book? What kind or mark up do you charge?

4

Agree with the other guy. I’m not sure there’s much of a market for your service. Unless you have some kind of access to unlisted bikes for sale, I would imagine your client would see the same listings you see and then buy whatever bike is listed on CL, ST, ebay, etc. and cut you out of the process. I just don’t think there’s anyone who legitimately wants a used super bike, but refuses to or can’t peruse the websites on their own. Maybe I’m weird, but I love looking at those sites for bikes even when I’m in the market for one.

5

Bike shops can do everything you cite, and they aren’t getting rich so you won’t either. If you are charging a fraction of what they charge then you are losing money.

People interested in a high zoot bike get it from a shop since they often can provide a professional fit among other things (lifetime warranty, US made or name brand frame, etc).

6

I accept your challenge!! Now… Do they have to be firecrest…?

7

Thank you guys for the feedback! I really do appreciate it!

8

Of course they have to be firecrest or what would the challenge be lol

Also, had a second idea for you. If you do decide to get into this custom bike business, a huge differentiator would be if you offer custom paint work. Allowing customers to choose new paint schemes that truly make their bikes 1 of a kind would likely demand enough of a premium to justify your time. Leveraging social media with highly customized bikes would help you build a following and keep the revenue coming in

9

I like this idea; value and uniqueness added.