Exciting business opportunity

[winjim]

Over the weekend I noticed that due to retirement, my LBS is currently "to let". Cue much daydreaming about packing in the day job to become my own boss and working with bikes for the rest of my career. This has led me to two conclusions.

1. I really don't know enough about bikes.
2. I don't know anything at all about running a business.

Shame. It's a bike shop with a long and illustrious history, I hope it gets taken over by someone who can make a good job of it.

 

[I like Skol]

The fact that the shop premises are 'To Let' as a premises rather than as a business for sale with premises on a lease, kind of suggests that the business is not really viable and may have just been running the last few years as a pass-time for the owner to reach retirement, rather than as a profit generating entity in it's own right.

There is nothing to stop you or anyone from setting up a similar bike shop in a suitable premises, but I don't expect it to be the utopia you are dreaming of, in fact, far from it.

 

[Cyclist33]

Why not set it up as a banana and hypnosis parlour instead?

 

[winjim]

The fact that the shop premises are 'To Let' as a premises rather than as a business for sale with premises on a lease, kind of suggests that the business is not really viable and may have just been running the last few years as a pass-time for the owner to reach retirement, rather than as a profit generating entity in it's own right.

This, I suspect, is the case. The shop is half empty, has about three bikes in it, and last time I was in I had to wait a fortnight for some spokes which I could have ordered overnight delivery online. I don't think the location helps, it's right next to the footy stadium so closes on Saturday afternoons. It is a real shame because as I say, it is quite a famous shop, and we have brand new Evans, EBC and Giant stores on the other side of town, and my other LBS has just been refurbished so cycling generally is doing well.

Edit: It does say "bike shop to let" rather than just "to let".

 

[Booyaa]

What shop is it Jim? I'm at a loss to think what one it is.

 

[winjim]

What shop is it Jim? I'm at a loss to think what one it is.

Tony Butterworth in Sheffield.

 

[jay clock]

Walk away, You will likely not be getting the name and goodwill, you will just be starting a new LBS in what sound like a poor location!

 

[Cyclist33]

Possibly the fact that there's an Edinburgh bicycle coop about a hundred yards away that opened in 2008 hasn't helped Butterworths.

 

[winjim]

Possibly the fact that there's an Edinburgh bicycle coop about a hundred yards away that opened in 2008 hasn't helped Butterworths.

That's the other Butterworth!

 

[John the Monkey]

I hear the best way to make a small fortune running an LBS these days is to start out with a large fortune.

 

[SpokeyDokey]

This, I suspect, is the case. The shop is half empty, has about three bikes in it, and last time I was in I had to wait a fortnight for some spokes which I could have ordered overnight delivery online. I don't think the location helps, it's right next to the footy stadium so closes on Saturday afternoons. It is a real shame because as I say, it is quite a famous shop, and we have brand new Evans, EBC and Giant stores on the other side of town, and my other LBS has just been refurbished so cycling generally is doing well.

Sentiment & business don't always mix well.

 

[Vapin' Joe]

The best way to fall out of love with your hobby is to make it your business.

 

[Moodyman]

I think a new independent is going to struggle against chains or more established independents.

I love my bikes because they're fastidiously looked after and pampered, but I detest working on friends a family bikes.

 

[Scotchlovingcylist]

I think the internet has helped kill the local business, overnight delivery is often still cheaper than going to the lbs and waiting three days.
I imagine most of the people who still use their local shops is because of loyalty and the fact they have been well established within a community which if you reopen under a new guise you will not be.

 

[Dave 123]

@winjim
You know nothing of bikes and business....

BUT

You employ a spanner person, then.......

if you dress as the slutty, busty eye candy behind the counter then surely nobody will be able to resist?