Skinnyone Posted June 30, 2015 Posted June 30, 2015 Like has been mentioned - unless you have a couple of bar (millions of Rondelas) stuffed in your mattress don't bother...Shop fitting alone I would hazard a guess at R500K, then but tools etc for workshop R100K (to do it properly - you are doing it properly right???) POS equipment and software another R100K. Now here come the crux STAFF (more than one) who KNOW what they are doing and share your passion of keeping the doors open, better make sure you have enough cash flow to pay them at least 3 months salary now... NOW to stock your shop, every supplier is only going to supply you on COD terms, so budget on 50-70K per (top end) bike that you want to keep and 8-20K per mid range bike...(wholesale values) then start with clothing,shoes accessories. Once done there make sure your workshop is well stocked with spares so that when you open your doors on day one you can start servicing most bikes that may roll thru your door without looking like a tool and having to say "I'll have to order that chain in"... Now pay me for my consultancy fee...How can I tell you all this? I have been involved in opening a few stores in JHB....Oh yes remember the staff thing? I have been involved in a store where the owner ran out of money 6 months in and couldn't pay me never mind the suppliers...Don't let it happen....
Jacques@ACT Posted June 30, 2015 Posted June 30, 2015 Totally, completely and utterly off-topic: are you selling the guitar on WD's? I'm the lift.Yes [emoji1]
Iwan Kemp Posted June 30, 2015 Posted June 30, 2015 Yes [emoji1] Small world. And yet I've never bumped into Beyoncè!
Allrounder Posted June 30, 2015 Posted June 30, 2015 Something i would like to see here is a new concept i came across in London when living there. Buying a new bike from a shop (think it was over a certain value) and you get free servicing for life on the bike. This was the labour only obviously and onky for the original owner. I've bought a few bikes in London before and with most of the LBS, you get free service for the first 12 months, but this shop took it one step further. The chainstores like Evans didn't do that though.My brother bought 2 bikes in UK and got the free lifetime service deal. much better than the 70 pounds per bike per service that a different shop quoted him.
Allrounder Posted June 30, 2015 Posted June 30, 2015 If you are in brackenfell, go and talk to mark at attitude cycles. I am sure he will be able to give you more info.
Maniax Posted June 30, 2015 Posted June 30, 2015 I love the free service for life concept. Now I will also start planning my shop, with the obligatory coffee roastery on the side.
DIPSLICK Posted June 30, 2015 Posted June 30, 2015 have a love for cycling, spend my fair share of cash on bikes/repairs/services, even though its not a grudge buy, going on threads here, def. not the industry i would want to be in
VicanZA Posted June 30, 2015 Posted June 30, 2015 sounds like the quickest way to hate something you once loved...
Butterbean Posted June 30, 2015 Posted June 30, 2015 If you reall want to splurge, I can sell you a microbrewery for the shop. 50L per day p your Own brew for customers:)
Skinnyone Posted June 30, 2015 Posted June 30, 2015 I am in the industry, and have been for the last 12 years, I have seen a good number of shops come and go, either thru lack of funding, bad management, theft etc... If you do it, do it for passion and have firm management in place, don't think for one minute that you can open a shop and walk away to leave someone else to run it...
BDF Posted June 30, 2015 Posted June 30, 2015 Start with a plan.You must be able to answer questions like:Do you have the skills to start and run a business?Where/When?What /Who is your target market?What do you want to sell to them?What unique thing will draw people to your LBS vs. another one?Who are your competitors, what do they do that works or does not work?What start-up capital will you need?How much working capital will you need?What is your marketing plan?What kind of staff will you need? (headcount, skills, pay etc.) and the like... Don't just dream, put plans and actions down on paper. Hold yourself accountable and do it! ...or don't... There is a price for success, a price for failure and a very high price for inactivity!
Patchelicious Posted June 30, 2015 Posted June 30, 2015 If I can give you one piece of advice: Please employ people who know what they are doing and understand their range of products. I have resorted to a default answer of, "probably not" when asked by a shop dude if he can help. The amount of times I have ended up in discussion teaching people about their own products is crazy, and I know almost nothing myself. Just 30mins ago, I was standing in a shop looking at the new Dale Evo Six, and when I asked them about the differences between the Evo HiMod and the Nano, I was told there was no difference. Luckily fellow hubber sent me a cool link just yesterday on it Point being, it's their job to know. Also waiting around a shop for 10mins to get a price on an Sworks frame is ridiculous, you should know the prices of the only two high end frames in your shop. Those shops that do well are because of knowledge!
An3 Posted June 30, 2015 Posted June 30, 2015 I am keen to learn how a typical LBS' stock keeping works.Lets consider chainrings. There are the brands: Shimano, Sram, Campag, etcthen you get the different models eg 105, Ultegra, DAThen you get different sizes Then just to complicate things every year a new model is released. (11sp etc) I cannot see how a small LBS can afford to keep stock of every single item.The only practical solution that I can think of is to keep stock of the most common sizes and to then build solid relationships with the suppliers.... and couriers.
Hackster Posted June 30, 2015 Posted June 30, 2015 Surely it's about finding a niche? Just another plain jane LBS won't cut it anymore. I've often wondered when the 'service only' model is going to take off. No need for lots of expensive stock holding, just a kickass workshop, and a small reception area. Surely a better model.
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