Little end of year update for you folks
It's been great running the bike shop since March. Have had some lovely bikes in and out of the door including a fair few used reconditioned ones as well as repairs. Seem to be getting a reasonable amount of roadies seeking me out now which was my goal from the outset.
Repairing and building bikes has been the easy part; running a business is far from easy! I have an empty bank account mainly due to reinvesting in the shop all year but furthermore I think that my prices have been too low. I am getting better at this realising now that I do not have to compete 100% with internet prices thus make only a meagre amount on a part, although I try to keep competitive and generally below rrp. The embarrassment of asking people to pay for me to fix their bike has died off now too and I'm happy to ask for what is the going rate for repairs. Being of a gentle and generous nature (no really I am!) asking for money has been a bit of an obstacle but like I said I think I'm over that although still find myself discounting or giving my time or a small item away.
This is where the shop is at now visually:
Outside complete with Xmas bike and decs.
Nice and tidy at the moment
Reasonable amount of stock for a small shop imo
Bike display area, I can fit about 5 bikes in the shop for sale.
Bit further in
Messy shelves! Not good....
View of stock from another angle
The only natural light the shop gets, it literally is cave like.
Kettle and drinks! Coffee machine has not made it round here yet, sorry Richard (more on that later)
So what are the plans for next year? I want to focus more on road and retro bikes including older 3 speed sit up and beg bikes. Got plans for a new website if I can up my communication with John on here! (Sorry John) but my really, really, really big plan is to move the shop to a new premises!
I'll keep it brief for now as nothing has been agreed other than a verbal hand shake but I'm looking to take over this shop, which has stood empty and neglected for the last 6 years:
I've had my eye on it since I moved in last year and finally tracked down the owner with a view to buy it however we agreed to a lease agreement for the time being (good job really cos I had no idea how I was going to fund the purchase!).
It's a grade 2 listed building and just down the road from our current shop (you can kinda see it in the background) and just to right of the shot above is our house! So not too far to go to work
We got to have a look inside:
Needs a bit of work as you can see but that's fine. It's a better shop space than we have now albeit still relatively small, however there is another two rooms one of which is a kitchen which we intend to set up as a refreshments area featuring our coffee machine.
Speaking with the owner he said that the rent will not be just the ground floor but for the entire building!!! So we can spread out over the 3 floors. I'm thinking that on the first floor I'd like shoes and clothing albeit that will require quite a lot of investment but it's the long term plan, especially as it needs as much tidying as downstairs. We intend to have it in a Jack Wills, Super Dry, etc style of décor. The 2nd floor I don't know my ideas haven't extended that far yet!
The one thing I'm sure of is that all of my plans will require investment so I guess I can look forward to another year of working for no financial reward (fine by me, not so much by my missus). Fingers crossed that things just keep getting bigger and better.....
Thanks for all your support and goodwill. Apologies for not getting on here as often as I would like/ used to.
Happy New Year to you all!!!