New Bike shop in Devon

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mightyquin

Active Member
Where is the shop? I take it it's in Exeter?

My brother bought a retail business in Devon a few years ago (not bikes!) and he's doing very well down there. I'll pop in when I'm visiting him! A serviced/refurb secondhand bike could be on the shopping list....
 

Nozzer

Well-Known Member
Location
Gloucester
I used to own a golf shop in Bristol and was very customer orientated. My advice would be free coffee, a place for people to chat and mingle is invaluble, the longer there, more likely to spend. Always be friendly even when you dont want to be, try to remember peoples names/faces, goes a long way. The pump is a good idea. I used to sell lots of second hand golf clubs, one thing to be wary of is the VAT content. It is different with second hand goods, ie you only pay vat on the profit. So you will have to make a note of each bike bought, what you paid and what it sold for and pay vat on the profit. Its a pain in th arse but the vat man is not to be messed with!! Try not too spend tto much on advertising to start with, find your market, advertise with the local schools, college, uni's etc. You will make far more money on accesories so make profit but dont get greedy! People always like a bargain! Also, if you can do small repairs wjile people wait rather than book it in, that goes a long way aswell, the amount of people who wanted new golf grips while they waited was massive, they were always impressed and nearly always bought extra things while waiting! Obviously you will have to gear the repair man up for that!

Oh, dont be shy on securing the place, the reason im not in my shop now is 8 burglaries in 6 months, insurance only paid up for the first one! lost business / house in the end:sad:
Cant think of anything else at the mo!
 

TVC

Guest
What's so wrong with the business model you described in your first post, large student population, buy, refurbish and sell cheap previously owned funky bikes. Think about skate shops as your inspiration rather than top end bike outlets. Just an idea.
 

nosherduke996

Well-Known Member
Location
Newdigate,surrey
Also it might be worth looking into cycle hire for holiday makers, Mtb & road bikes. This could include a pick up and delivery service to local camping sites and so on.
 

Fab Foodie

hanging-on in quiet desperation ...
Location
Kirton, Devon.
What's so wrong with the business model you described in your first post, large student population, buy, refurbish and sell cheap previously owned funky bikes. Think about skate shops as your inspiration rather than top end bike outlets. Just an idea.
Agreed.
As an example, Warlands in Oxford deal in S/H bikes, mostly studenty steeds as well as new basic commuter steeds, Brommies and other folders, tandems etc. Good basic kit, old-fashioned friendly service and basic functional but quality accesories and a good mechanic:
http://www.warlands-cycles.co.uk/

I guess primarily 'bikes as transport' is their primary market.

I also agree with free pump for tyres etc and particularly the 'not being condescending' bit, sooo important.
 

markharry66

Über Member
Also a local bike shop near me used to arrange ride on a Sunday when they were closed its great way of getting people to remember your business
 
OP
OP
D

davethebike

New Member
Hi Mark
thanks for the feedback, it is a bit of a mind field with new bikes with so many being available,however not all would be happy to supply us so will probably have one decent brand and a cheaper but good brand with selection and push well with decent second hand bikes, a bit of vintage and retro as well is where we think it will go. will keep in touch and let you know how its going.
regards
dave


Good luck with the venture!

Theres nothing wrong with selling low end new and second hand bikes. If your shop has a reputation for supplying cheap and cheerful bikes stick with it. Maybe you won't get the keen cyclists in the shop very often, but if you're looking to make money rather than lifelong friends then stick to the proven plan. (you can also enjoy the warm feeling of keeping all those older bikes out of the land fill and introducing new cyclists to the future of transportation)
 
OP
OP
D

davethebike

New Member
did consider hire, a few insurance implications from a liability point of view but still looking at it now, camp sites holiday parks a great idea.
will keep you updated
regards
david
Also it might be worth looking into cycle hire for holiday makers, Mtb & road bikes. This could include a pick up and delivery service to local camping sites and so on.
 
OP
OP
D

davethebike

New Member
Hi
did think about doing a bike/skateboard shop as lots of both in exeter, just wasnt sure if others had tried and failed and more profit in newer bikes. will prob do a few decent ones and a good selection of well priced ones for the whole family to start and see where it goes. been in there a few times when people asking for new bikes but current owner doesnt have any. we think that decent second hand bikes will be good and a bit of retro collectable would work ok. will keep you up to date with our progress.
regards
dave
What's so wrong with the business model you described in your first post, large student population, buy, refurbish and sell cheap previously owned funky bikes. Think about skate shops as your inspiration rather than top end bike outlets. Just an idea.
 
OP
OP
D

davethebike

New Member
Hi thanks for the advice, some good points mentioned. sorry about the burglaries and problems after, i have had some quotes for insurance but will have to check the points you mentioned. i'll keep you up to speed with my progress.
thanks and regards
dave
I used to own a golf shop in Bristol and was very customer orientated. My advice would be free coffee, a place for people to chat and mingle is invaluble, the longer there, more likely to spend. Always be friendly even when you dont want to be, try to remember peoples names/faces, goes a long way. The pump is a good idea. I used to sell lots of second hand golf clubs, one thing to be wary of is the VAT content. It is different with second hand goods, ie you only pay vat on the profit. So you will have to make a note of each bike bought, what you paid and what it sold for and pay vat on the profit. Its a pain in th arse but the vat man is not to be messed with!! Try not too spend tto much on advertising to start with, find your market, advertise with the local schools, college, uni's etc. You will make far more money on accesories so make profit but dont get greedy! People always like a bargain! Also, if you can do small repairs wjile people wait rather than book it in, that goes a long way aswell, the amount of people who wanted new golf grips while they waited was massive, they were always impressed and nearly always bought extra things while waiting! Obviously you will have to gear the repair man up for that!

Oh, dont be shy on securing the place, the reason im not in my shop now is 8 burglaries in 6 months, insurance only paid up for the first one! lost business / house in the end:sad:
Cant think of anything else at the mo!
 
OP
OP
D

davethebike

New Member
Hi
thanks for the confidence booster, it is in exeter on the topsham road that is one of the main roads into the city, pop in and ill get the coffee on when your passing, you never know there may be a bike with your name on it waiting for you...lol
regards
dave
Where is the shop? I take it it's in Exeter?

My brother bought a retail business in Devon a few years ago (not bikes!) and he's doing very well down there. I'll pop in when I'm visiting him! A serviced/refurb secondhand bike could be on the shopping list....
 
OP
OP
D

davethebike

New Member
Thanks, we cant wait to get to ket the keys, all paperwork signed now just waiting for the solicitors and we all know what they are like.
think we will sell a few new bikes and a lot more second hand ones, but quite a choice of them, the current owner seems to only look at ones that seem cheap, where as i wouldnt have a problem spending more on some more know better brands and build the profile of the shop to a better level.
thanks for the input, every little helps.
regards
dave

Good luck with the venture!

Theres nothing wrong with selling low end new and second hand bikes. If your shop has a reputation for supplying cheap and cheerful bikes stick with it. Maybe you won't get the keen cyclists in the shop very often, but if you're looking to make money rather than lifelong friends then stick to the proven plan. (you can also enjoy the warm feeling of keeping all those older bikes out of the land fill and introducing new cyclists to the future of transportation)
 
OP
OP
D

davethebike

New Member
had a look on their site, thanks. all input is useful. do you know any accessory wholesalers to the trade??? found a few but there are probably a ton of them i don't know of. agreed about the condescending bit, could never do it, not in my nature which will hopefully stay with me for ever. shop has a good mechanic which i'm planning to keep on, invaluable, especially as i'm the novice. anyway, keep in touch as any help and advice always welcomed.
regards
dave
Agreed.
As an example, Warlands in Oxford deal in S/H bikes, mostly studenty steeds as well as new basic commuter steeds, Brommies and other folders, tandems etc. Good basic kit, old-fashioned friendly service and basic functional but quality accesories and a good mechanic:
http://www.warlands-cycles.co.uk/

I guess primarily 'bikes as transport' is their primary market.

I also agree with free pump for tyres etc and particularly the 'not being condescending' bit, sooo important.
 
OP
OP
D

davethebike

New Member
thanks for the idea, we will open sundays as shop is actually on the cycle path so don't want to miss a opportunity as its always busy when i ride past.

Also a local bike shop near me used to arrange ride on a Sunday when they were closed its great way of getting people to remember your business
 
OP
OP
D

davethebike

New Member
Thanks for the support, cant wait to get the keys, should be in next week or so now so getting close. Shop will be in Exeter on the main road into the city just 5 mins from junction 30 M5, will give you full details when in the shop
regards
dave
Sounds very exciting,living in one of Britains best areas plus running a cycle shop.....you lucky so and so !!! Good luck and like everyone else says,customer service is the best way to keep customers.Where abouts are you opening,will try to come over and say hello if i do my mad ride down to Cornwall again !!!
 
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