Need some help!!!

christy02

Hi all,

I am currently in the final year of a business degree and am doing a Business plan as part of my final year project.
As I do a lot of cycling, I would like to set up my business around a LBS.
However I have a USP that I feel will add value...

So the bike shop would obviously sell bikes and equipment, with the option of upgrading or changing components to suit the buyer.

On top of that there will be an area where cyclists can come and rent a bay and work on their bikes with stands and tools that they need. They would be able to try parts etc and get advice from the shop mechanic as and when he would be available.

Thinking around 15 euro per hour + any parts that they need to buy. I could fit 10 bays into a relatively small area as a bay would not need to be that big.

Just wondering if this is something that would be of interest to the cycling community?
I feel that I would use it once the shop was accessible and had parking etc.

How much would you be willing to pay?

Any other features that you would like to see or a service available at the LBS?

Really appreciate any feedback that I receive.

Thanks
Chris

LpPepper

Great idea Chris - something that would be nice to see and also very handy! However, be aware that a certain large bike store in Dublin 24 which will be opening a bigger store in the coming months will have something similar to your idea, from what I've been told, just something to be aware of.

But yes, great idea for a LBS!

christy02

Interesting to know that. Just to point out won't be actually opening the bike shop (yet anyway). Just seeing if it is viable as a project for college.

eeeee

You can use the tools and workshop in Rothar for €5 per hour, plus pay for parts you may need. I've used it a good few times.

Good idea though, as someone who has fcuk all tools of their own if it was cheaper per hour I'd use it.

christy02

Thanks for that. Haven't seen rothar. Need to take a look at that.
More like 5 euro an hour so.

christy02

Any other ideas that you guys might look for in a lbs?

Bloggsie

bike mechanic online, if the onsite mechanic is unavailable the ability to skype or online chat with one while you are doing the work may be another asset.

or I am totally misunderstanding what you are attempting to do and you can ignore me as some numpty who is off his nut!

good luck with your project.

christy02

Bloggsie that is a cool idea. Thought is that shop mechanic would give advice but not do the work for you.
Small coffee shop as well that would allow groups or individuals to stop in on cycles.

Location is key for that though.

smacl

christy02 wrote: »

Thinking around 15 euro per hour + any parts that they need to buy. I could fit 10 bays into a relatively small area as a bay would not need to be that big.

It is a nice idea, but you'd need to figure out whether the occupancy of the bays would pay for their rent. It could be worth visiting somewhere like Rothar at different times to see what type of usage their facility got and whether it earned sufficient revenue.

Just a thought, but a more mobile operation targeting businesses that encourage bike usage might be a better ploy. Something like a pop up bike maintenance stall that visited different locations with lots of bike use on a regular basis might do better. Anywhere you've got a number of companies with large well used bike racks in the same location would do the trick, particularly where they're not in close proximity to a bike shop. I'd guess this would be true of a number of the industrial estates around the town, as well as hospitals, business campuses etc... The difference here is that you are going to the customer, and you're avoiding much of the heavy rent burden.

tomasrojo

smacl wrote: »

Just a thought, but a more mobile operation targeting businesses that encourage bike usage might be a better ploy. Something like a pop up bike maintenance stall that visited different locations with lots of bike use on a regular basis might do better. Anywhere you've got a number of companies with large well used bike racks in the same location would do the trick, particularly where they're not in close proximity to a bike shop.

That sounds good to me, though I wouldn't use it myself, as the sort of maintenance repairs a mobile unit would do would be the stuff I'd at home anyway. Plenty of people don't like doing maintenance/repairs though, and plenty don't have time either.

What smacl has in mind is a bit like the mobile dry cleaners that call round to offices in business parks and IFSC? (Did I imagine that?)

nak

christy02 wrote: »

Bloggsie that is a cool idea. Thought is that shop mechanic would give advice but not do the work for you.

That would eventually make them redundant unfortunately.

smacl

nak wrote: »

That would eventually make them redundant unfortunately.

Maybe, though the reverse could also be true. People like the idea of doing the work, but when it actually comes down to it I'd guess a fair proportion couldn't actually be arsed and would chuck the mechanic a few bob to do the job. You'd also get those who make a mess of it and need the mechanic to redo the bad job, or simply run out of time and enthusiasm.

christy02

Like the mobile bike rack idea. Will look to see how that would work as well.

Definitely going to visit rothar. Their fees are quite low though as they are staffed by volunteers mainly.

Would having cafe facilities be an advantage if it was near a used bike route? Would groups call while on cycles? I would as I don't like using garages when in my cycling gear. Like minded people would be good.

petethedrummer

A bike shop that was actually open at peak commuting times (especially mornings) would be nice.

nak

petethedrummer wrote: »

A bike shop that was actually open at peak commuting times (especially mornings) would be nice.

I know of at least one that opens at 8.30 and closes at 6.30.

Qualitymark

Not sure what an LBS is, or a USP. Is LBS a "local bicycle shop"? If so, what about going and talking to people who've opened them recently? There are a couple of nice Venezuelan fellows who have opened a shop beside the Hospice in Harold's Cross recently enough that their advice would be apposite.

Could you take a franchise and start selling SpyBike (whose tech support is cat, so it would be good to have a local supplier/tech support)? Even if you didn't make anything on it, it would act as a loss leader.

As you say, location is key; with the current feeding frenzy by landlords and the Corpo, shops seem to be opening and closing like Finnegan's Wake these days -

one steps out,
one steps in again,
one steps in,
one steps out again…

stecleary

christy02 wrote: »

Would having cafe facilities be an advantage if it was near a used bike route? Would groups call while on cycles? I would as I don't like using garages when in my cycling gear. Like minded people would be good.

I wouldn't imagine it a visible add on to a LBS, midweek the numbers just wouldnt be there and at weekends the location would be all wrong. Coffee stops are usually about 40/50k away from starting points, too far out for the bike shop side of the business to be profitable, and people generally don't do coffee before or after a group spin

mossym

christy02 wrote: »

Like the mobile bike rack idea. Will look to see how that would work as well.

.

already being done. can guess it's not UL you are in as there is a mobile mechanic there a few times a month.

https://www.facebook.com/Gary-Sheehan-Mobile-Bike-Repair-638192062936285/

smacl

Qualitymark wrote: »

Not sure what an LBS is, or a USP

A USP is a unique selling point, and provides a reason why a potential customer might come to you rather than your competitor. Other reasons including price or quality of service. LBS is local bike shop.

Qualitymark

smacl wrote: »

A USP is a unique selling point, and provides a reason why a potential customer might come to you rather than your competitor. Other reasons including price or quality of service. LBS is local bike shop.

Ah, thanks. Business jargon decoded!

tomasrojo

If you have a USP you can make a killing when you IPO. Just don't get caught taking EPO.

com1

Qualitymark wrote: »

Not sure what an LBS is, or a USP. Is LBS a "local bicycle shop"? If so, what about going and talking to people who've opened them recently? There are a couple of nice Venezuelan fellows who have opened a shop beside the Hospice in Harold's Cross recently enough that their advice would be apposite.

Could you take a franchise and start selling SpyBike (whose tech support is cat, so it would be good to have a local supplier/tech support)? Even if you didn't make anything on it, it would act as a loss leader.

As you say, location is key; with the current feeding frenzy by landlords and the Corpo, shops seem to be opening and closing like Finnegan's Wake these days -

one steps out,
one steps in again,
one steps in,
one steps out again…

Was that not Lanigans Ball?

OP opening hours would be important particularly if you are providing servicing / maintenance. (Early mornings late nights and Sundays)

You could look at becoming a cytech certification site - courses and certification. Could be worth gauging interest - I know I would be interested (I am considering going to the UK but if there was a course available here all the better)

Qualitymark

com1 wrote: »

Was that not Lanigans Ball?

Yes!

OP opening hours would be important particularly if you are providing servicing / maintenance. (Early mornings late nights and Sundays)

You could look at becoming a cytech certification site - courses and certification. Could be worth gauging interest - I know I would be interested (I am considering going to the UK but if there was a course available here all the better)

And you could target the retro market - fancy chainguards, bicycle bells, bike handles, kickstands, etc.

And target the women cyclist market generally - for instance, I asked here for advice on helmets, was told state of the art was MIPS, but can find no bike shop that has small-woman-size MIPS helmets that I can try for size and comfort. While male cyclists undoubtedly pay more for their bicycles, I suspect that women may pay more for accessories. (I was stopped in Trinity by a young woman with tears of joy in her eyes, who said "I love your bike! It's such a happy bike!" It is a bit bedizened.)

Cycle Superstore: Philip

Bloggsie wrote: »

bike mechanic online, if the onsite mechanic is unavailable the ability to skype or online chat with one while you are doing the work may be another asset.

or I am totally misunderstanding what you are attempting to do and you can ignore me as some numpty who is off his nut!

good luck with your project.

Google had a service similar to this some years ago called helpouts. People sold services online. I used it once and really liked it but it shut down last year, is this the sort of concept you had in mind bloggsie? I personally dont know why it shut down as I thought it was a neat idea.
http://techcrunch.com/2015/02/13/google-pulls-its-helpouts-mobile-applications-from-the-app-stores/

Bloggsie

Cycle Superstore: Philip wrote: »

Google had a service similar to this some years ago called helpouts. People sold services online. I used it once and really liked it but it shut down last year, is this the sort of concept you had in mind bloggsie? I personally dont know why it shut down as I thought it was a neat idea.
http://techcrunch.com/2015/02/13/google-pulls-its-helpouts-mobile-applications-from-the-app-stores/

I wasnt aware of the google thing, I was listening to the rigthhook last week & heard the piece on the support a business thing he does each week, in which a guy had set up a company with doctors online for people who could not make appointments due to clashes of doctors available hours and their customers other commitments. You pick a time that suits & the company found a doctor(all certified no witch doctors) to deal with your enquiry.

To my mind that could work for people like me that work doing the week & have limited time at the weekends and rather than fumbling around trying to replace or repair you'd rather be out on the bike with the limited time available or going to a LBS, if the option to have a online chat or skype with a bike mechanic one evening during the week at a time that suits the customer could be a winner

Fian

Sounds like a reasonably nice idea but i suspect the market would actually be very limited.

Those who have the skills and confidence to repair their own bikes will have the tools at home.

Those who don't have the tools are unlikely to have the confidence that they will be able to repair their bike quickly and are more likely to just pay a mechanic to deal with the issue, rather than risk €15 an hour and their time on attempting to fix the bike.

I suspect that insurance would also be expensive if you are allowing untrained people access to your bays and tools you could potentially face personal injuries litigation.

You would also presumably face potential loss in terms of tools walking out the door.

Basically i think this is a service i might potentially avail of if i needed to do something that i don't have the tools for (though honestly i would be more likely to just invest in the needed tool) but i do not think it is a viable profitable business proposition.

edit: renting out specialist bike tools from a LBS would be a much more efficient solution to this problem. That is a service I would utilise and you would avoid the insurance issue and with deposits you would also avoid the loss of equipment & the overheads involved in maintaining bays, supervising them, cleaning them etc.

m5ex9oqjawdg2i

christy02 wrote: »

Thanks for that. Haven't seen rothar. Need to take a look at that.
More like 5 euro an hour so.

I would't just match the price of a competitor before knowing what they offer. Your service might be better (better tools, larger variety of tools, more space etc).

It's something I would have used myself for sure (before buying my own stand and some basic essential tools). I am currently living in Germany at the moment and some of the bike shops have a stand outside which can be used 24/7 and it's free. It's just an additional service they offer. Something similar to these,
http://www.weekendnotes.com/im/002/08/11783046121.JPG