How to Start a Bike Shop
Running a bike shop requires the owner to have some knowledge about the cycling industry in order to achieve success. There are many different types of cycling shops, such as mountain biking, racing and BMX. The owner should decide which type of shop is the best one to open for the area where the business will be located.
- Obtain a business license to run your bike shop. Decide on a location for the shop and establish a bank account for your business. Call a local accountant to help you with the tax structure. Contact an insurance agent to discuss the best type of coverage for your shop.
- Hire employees for your bike shop. If you intend to start out small, only hire a few employees to start. You can then add more staff once your business starts to grow. Decide the hours of operation for your shop and create a work schedule for you and your staff.
- Purchase inventory for your bike shop. Finance the purchase through your suppliers or work with a local bank. Once you receive your inventory, set up your shop to display the various bikes and equipment to your customers. If you also intend to perform bicycle repairs, set up a work area in the back of the store. Purchase the tools and supplies you will need for the repair portion of your business.
- Advertise your bike shop when you are almost ready to open for business. Purchase ad space in a local newspaper and design some flyers to pass out around town. Put an ad in the Yellow Pages as well to help promote your shop.
- Create a website to market your bike shop. List the major bike brands you will offer and upload pictures of the best models. Design a coupon for online visitors to use at your bike shop to help achieve a successful launch for your business.