I need some advice...
#11
RE: I need some advice...
never owned a business myself but i work at one that is something like what i want and i understand how it all works. and i already said i would like to have a restaraunt but i dont even know how to cook. so i already understand that too. and im hoping that if i do go through with this my boss could possibly refer me to a distributor for starters.
#12
RE: I need some advice...
There is a local shop in Cape Canaaveral Florida that started in a mini-warehouse, by doing very light mechanic work at a cheap price. He built a loyal following by having low price and high quality. He has tripled in size and now he is customizing Busas and other bikes as well as doing mail order stuff. The other thing he is doing is rebuilding bikes and selling them. He made his name by stunting and at the Bithlow drags. He has done alot better than I would have guessed given his lousy location and zero marketing budget.
I guess the way he went about is way to control his costs. He figured he manage his downside risk rather than worry about his upside, it is the same old story, do what you love and are good at and the money will follow.
good luck.
I guess the way he went about is way to control his costs. He figured he manage his downside risk rather than worry about his upside, it is the same old story, do what you love and are good at and the money will follow.
good luck.
#13
RE: I need some advice...
with that kind of parts etc your looking at a LOT of money just to get hooked up with distributors (I seem to remember Parts Unlimited having like a $2,000 buy in or something and that just gets you an account to order parts) There are several other distributors also so that alone is a ton of money. If your wanting to sell used bikes all the manufacturers have their standards for showroom size, layout, etc plus the cost of bikes, parts, labor, service dept (that a sh*t load of tools btw tire changers stands ramps lifts fully loaded tool chests certified mechanics etc etc)
unfortunately until you get into high volume bike sales you won't make jack on them, parts are basically the same way because these days your competing with online shops that sell massive volumes and don't need to make much profit per item
its a tough business to get into and most shop owners will tell you that if you do manage to get a good business going you won't make much money until you sell it. Also remember that your looking to start a business that will take up ALL of your time.
also if you have stunting in your parking lot your looking at a lot of liability
I'd guess you'd need damn near $1 mil to get started which will take a LONG time to make back especially if there are any established dealerships in the area that locals are comfortable with
I like your idea though and have considered doing something similar but my plan would be to start with a small building selling used bikes and doing only basic maint. and tire changes then working up to something bigger over time
unfortunately until you get into high volume bike sales you won't make jack on them, parts are basically the same way because these days your competing with online shops that sell massive volumes and don't need to make much profit per item
its a tough business to get into and most shop owners will tell you that if you do manage to get a good business going you won't make much money until you sell it. Also remember that your looking to start a business that will take up ALL of your time.
also if you have stunting in your parking lot your looking at a lot of liability
I'd guess you'd need damn near $1 mil to get started which will take a LONG time to make back especially if there are any established dealerships in the area that locals are comfortable with
I like your idea though and have considered doing something similar but my plan would be to start with a small building selling used bikes and doing only basic maint. and tire changes then working up to something bigger over time
#15
#18
RE: I need some advice...
Atlanta, Georgia. If you haven't been to Atlanta in the past 5 years you are in for a serious surprise. The city has over 4 million people, but cycle shops are few and far between. I lived on the northwest side of the city and I had to ride over an hour to get to a shop that I actually liked visiting. There are million dollar houses on every corner, and I used to see riders all hours of the day every day of the week. You've gotta check it out.
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