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Which makes me think bike shops don't really make money.
I think this is the elephant in the room. Bikes are still considered toys, not serious transportation, and in a time of economic difficulties most people don’t want to spend money on expensive toys.
Make the venue a nice destination and collaborate with other services.
This is my conclusion too. Shopping-turned-experience will become more and more important as online shops replace physical retail. Most bike shops were struggling before and will be struggling again after covid, but the few ones that were doing well provided a combination of good location, quality products, attentive service, and a good/great customer experience.
Eseman-
I think this is the elephant in the room. Bikes are still considered toys, not serious transportation, and in a time of economic difficulties most people don’t want to spend money on expensive toys.
Leisure can be as profitable as essential goods. I’d argue there is maybe more potential. It’s optional spending. Look how pet shops and veterinary services have exploded in the last few years whilst private medical hasn’t. It’s related to changing lifestyle and priorities and good marketing.
We can measure ‘serious transportation’ as business for bike shops as it largely continued (with key workers and those avoiding public transport). A lot of shops scraped-by on this as they couldn’t get any bikes to sell. Correct me if I’m wrong but IME the average dispassionate commuter will buy the cheapest wheel etc, only once the old one is unridable. That’s fine but a relatively low ‘basket’ value at the till.
Compare that to ‘non-serious’ cycling products sold; entry level bikes for leisure and smart trainers. These are £700 purchases. Those take little time to sell and have flown out.
I’m not suggesting ^ these are the markets. I’m trying to show people will happily spend on leisure.
miro_o
Which makes me think bike shops don't really make money. Which is why I like the cafe with some mechanics in the corner model.
Maybe a couple of restored vintage* bikes in the window.
ofcourse these are just my idle net musings, good luck and best wishes to anybody who'll actually pony up to run a bike shop!
*second hand