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@liamdude5 This is why you outline everything that will be done (scope of work) in the contract ahead of time. I’ve been a customer unhappy with my painting contractor before and it sucks because even at 50%, a deposit is risk. All service businesses will have picky customers and if you’re gut...

@paulsimmonds60 Hmm. Wonder if it’s possible to do showfloor demos and sell on an order by order basis. Call it special order and ask them to wait 2 weeks/3 weeks max. I’m definitely more interested in pushing accessories online over bikes. There are so many new products every year. Need to...

@seekinggodjesus Dang hopefully that product is still good to sell. Have you tried offloading it on eBay/craigslist?

@seekinggodjesus Good point. I have some savings and will not be taking a salary for the first year. GF starting her career will help too as I’ve been supporting both of us for the past 4 years. It could be her turn for a couple ;)

@dannyboy237 Yeah EVs like onewheels/boostedboards would go well with bikes. Nice idea!

@dannyboy237 For sure. I’ve heard of beer bars and coffee bars to get people to come around. That would be really cool. This shop is located in a college town + military base town that sits between two major cities on the state line. Also I’m interested in carrying a few brands that no one else...

@andy1947 Haha maybe. I’m just not that into working for others. I got super lucky with my current job and it sounds crazy to be looking for something else but I know I’ll regret not giving entrepreneurship a fair shot in my later years. If I could somehow float both until the bike...

@andy1947 I think a lot of bike shops don’t know how to navigate growing an online business. I bring IT experience working for a fortune 100 in marketing/IT (MarTech), have a web development background, and a solid understanding of digital marketing. It’s going to take a ton of work to break...

@victory4me Great comment. Appreciate the advice! I know it’s not the same thing as having actually been an owner but I do have some business education - I majored in management information systems and minored in entrepreneurship. About half my classes were general business classes (accounting...

@morganlee Eh, I’ve thought about that, too. I think working from home will be more widespread going forward and people will feel sedentary without some form of activity. Maybe cars will be less necessary, especially in larger metro areas where commuting is common. My niche is mid to high end...

@iazlover Good point. The owner mentioned briefly on the phone that they need to keep cash to carry them through the winter. Also as I customer I know covid has affected bike shops near me. Service is up but parts and bikes are hard to source right now. Might be biting off too much jumping in...

@i4e Very good point. I need this guy for sure. I honestly wouldn’t mind letting him manage the store/paying him a bit more if I could run the e-commerce business on the side. I’ve asked him in the past if he’d be interested in moving to my town to start another shop and he said probably not. I...

@bojan There’s a good mechanic there that I’ve been in contact with for the last couple of months that I would trust to manage the shop with me, if he’s interested. I would definitely be there everyday for the first year to learn the business inside and out. Good point though. The shop was a...

@xavier1777 This is extremely helpful. Thank you so much for this!

I’m meeting with a business owner tomorrow to discuss buying his bike shop in a smaller town 45 minutes away from me. I have a background in marketing/IT and plan to explore opening an e-commerce channel for parts/accessories. I’m in my late 20’s and never owned a brick & mortar business w/...