Bicycles are used by billions of people around the world as a vehicle of transport. They are the principal mode of transport in many regions of the world. They are also used for recreation, general fitness, courier services, racing, and stunts.
It was introduced in Europe in the early 19th century. Soon it started to spread all around the world. A bicycle repair business can be a reliable source of income for individuals who are passionate about cycling and bicycles.
Cycling is also a popular sport in many countries. Bicycles occasionally break down while using and most people aren’t well-versed in repairing them. A bicycle repair business fixes and refurbishes bicycles for customers when their bicycles break down.
Start a Bicycle Repair Business
Anyone who is mechanically inclined and passionate about cycling will enjoy running a bicycle repair business. You need to have basic mechanical skills for repairing bicycles.
If you want to run a bicycle repairing business successfully then you need to have in-depth knowledge of bicycles, how the different parts are assembled together and how they work.
You should be able to take apart any bicycle that comes to your shop for repairs, identify the problems, address the problems and put the bicycle back together again.
You can know the necessary skills of repairing by working at an established bicycle repairing shop for a season.
Costs of Starting the Business
The start-up costs associated with bicycle repairing business is minimal. You will need to spend money on buying essential items required for your business like open wrenches, hex keys, screwdrivers, a ratchet set, wire cutters, and adjustable pliers, all of these come under the category of basic tools.
You also need to spend on buying specialized tools like tire spoons, chain breaker, tire pump, pressure gauge, crank pulley and other essentials like work stand and truing stand. Two more things are required in your startup costs, one is a workspace and the other is replacement parts.
You can avoid spending much on these two things, find a space in your Business space that can be dedicated to your workspace, it can be your garage or basement. This will help you to avoid leasing or renting a workspace.
In case of replacement parts, including its costs in the invoices of customer payments and customers who need expensive replacement parts should provide a deposit upfront so that the deposit can be used to cover the cost of needed parts. The ongoing expenses will include employee salaries, maintenance and utility costs.
You need to have a solid business plan before starting. You should outline your business and financial goals at the outset.
There has to be an operational plan which will help you to fix the hours you wish to operate your business per week, the tools to work with both existing and the ones you need to learn, the scope of your business.
There should be a timeline to guide your business, like when will you think of expanding and reinvesting in your business. Plan according to your strength and experience, effective strategy and planning will make your business successful.
Your ideal customer will be an avid cycler who is passionate about cycling but doesn’t know how to repair it or doesn’t have enough time for doing so.
Those who are involved with cycle racing or tours with cycles require maintenance quite often since they are using their cycles a lot more than others.
Normally you will get customers belonging to all age groups starting from school going boys and girls to men and women in their 50s and 60s because cycling is the principal mode of transport and is also easy to ride.
Launching the Business
Once you have an effective business plan and the resources ready it becomes simple to launch your business. You should outline a list of services that you will offer to your clients.
The services can include diagnosing problems related to bicycles, repairing or replacing damaged parts, rebuilding or remodeling bicycles for regular use etc.
Marketing your Business
You have numerous marketing outlets in the bicycle repair business to ensure that your business is a success. You should set up connections with cycling clubs and bicycle groups before you are launching the business.
This will help you in receiving the latest news and gain potential customer leads. Prepare and distribute business cards, attend meetings, and don’t forget to list your business in cycling newsletters and classifieds.
Once you gain a foothold and establish your reputation start expanding your business with word of mouth marketing technique. Distribute pamphlets and put up banners in your locality to advertise your business.
Also, post your business in free online listings. Enhance your web presence by promoting your business in popular social media platforms.
Create a page dedicated to your business in social media sites and try to reach out to the online crowd. It will also help you to interact with your customers and receiving feedback via comments and posts.
Create a Website
You need to create a website to handle your business smoothly. Take the help of a professional to build the website. Invest some money in buying a domain. Your website is also a part of your marketing strategy. List your services on the website along with the charges.
Also, mention your vision statement on the site, this will help in increasing the reliability among clients. Upload the images of replacement parts on the site and name their brand. Dedicate a section on your website for receiving feedbacks and reviews.
Your business will face demand all throughout the year because people use cycles in all seasons and also need to repair in case of a malfunction. Research the market before you start to know the competition and find out the gaps in the market that you can exploit.
Provide quality service to the customers along with quality materials.
Hire trained and experienced mechanics who are updated in repairing new model cycles that are being launched these days. Above all, you should be able to manage and supervise the business efficiently as the owner.
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