Insane Bicycle Mechanic
Join Date: Mar 2008
Location: other Vancouver
Mentioned: 4 Post(s)
Tagged: 0 Thread(s)
Quoted: 75 Post(s)
Originally Posted by CNY James
you better know your stuff & be willing to put the work in. Unlikely that any of us here are really in any position to tell you whether or not you would be successful in your area, we dont know the specifics & few of us own/have owned a bike shop. Put together a business plan, maybe enroll in a business plan contest. Nothing ventured, nothing gained. Just keep in mind the competition isnt just from other local shops, online shopping is your competitor too.
Put together the plan, and then look it over with critical eye. Then show it to your best friend, your banker, and your insurance agent. Then start looking at the "what if's": what do you do if things don't go your way? What happens if you get too many customers?
The problem I see in a lot of small businesses (not just bike shops) is that people forget it's a business
. It's there to make you money, enough to support itself at least. If it's an endless money hole, you better have some other source of income and have the guts to pull the plug before you empty your life savings, get a divorce, and move into a cardboard box.
I spent 12 years in the bicycle business and I'm smart enough to know that running a small business is not what I want to do when I grow up. I like riding and I love all the little parts that go whiring and clicking and spinning- if I had to run a business to get my bike fix I'd go mad.
Comcast nuked my web page. It will return soon..