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Some Business Lessons Learned
The two large scale lessons Bike Bros tought were that were that you have to commit then you have to persevere. By commitment I mean this. For me, if it had been somehow possible to try Bike Bros as a part-time business while still being employed elsewhere, I don't think - actually I'm sure I would have folded the business somewhere in year 2 or 3. Those early times in the Bike retail business, and I assume most businesses, offer very little positive reinforcement for even the best of ideas. The momentum hasn't started. Every customer counts soooo much - both the few measly dollars they may spend and the potential word-of-mouth they may represent. Perseverance; in my case was a euphamism for "being trapped in a situation and not having a way out besides turning things into a success." I had no way out. I had put my relationship to a serious test. I'm certain everyone I knew thought I was nuts and that my "too small to make money" operation had a death sentence from day one. They were, for the most part, absolutely right. My original business was too small. I got by because I'm a damned good bike mechanic and when pushed I can work loooong hours. Of course, no business can relly on working 80 hours a week but in this world where time = money; If you don't have the money to get to the next level, you spend your time instead. One thing I have to mention is the importance of support. Andrea hated my business for the first 3 years. Coming to visit me, which she did almost every day, was tough for her. Everything about being in the shop made her question our future, my future and her own future. If this man she chose to be with could be so stupid to think this crazy little business could ever offer any financial stability - she must be nuts. These are the things I'm certain she was thinking - BUT - But she gave amazing support. She helped with numerous projects to lay the showroom out better, then create more storage, then lay the shop out better again, then tweak the work area, then totally redo the entire shop and over and over. Love and support are crucial! |
Bike Bros.For most of the time between 1985 and 1998 I was employed in the bicycle industry. I worked in bicycle shops, performed in bike stunt shows, worked doing a few different functions for a bike manufacturer/distributor and even had a couple little businesses (Bicycle Works - mobile bicycle repair, Skid Products - manufacturer of clothing and bmx parts). During that time I finished high school, put in a couple years towards a university science degree then went to SAIT and did an Industrial Engineering Technology diploma *with honors* oooh. Through all that education I was addicted to bicycles and worked with bikes. I saw what worked and what didn't. I saw shops with great owners fail and shops with not-so-great owners succeed. I saw businesses get some momentum then sputter. I learned. 
I opened Bike Bros in 2003. I had told Andrea, my better half, on many occasions that as much as I dreamed to own a bicycle shop I had seen far too many people lose lots of money in the business. My obsession was too intense to fight I guess. The first 3 years were TOUGH. Shutting down and re-entering the work world would have been by far the easiest option. Years 4 and 5 started to show that this little bike shop's concept was working. Inventory levels had finally reached levels where reasonable levels of sales were possible. What once seemd like a dream - to have the shop that drew people from far and wide because of what the shop sold and how customers were treated was becoming a reality. More recently, years 6 and 7 is more about trying to keep a fun environment with staff who enjoy their jobs - to combine that with keeping production levels reasonable and having the customer experience remain one of surprise because of the care and detail experienced at Bike Bros. I'm writing this at the end of 2009. We are preparing to move into a larger space and to step up the overall quality of the shop experience in a BIG way by doing so. This is the 2nd move and 3rd expansion in 7 years. Following your passions or dreams or whatever you call it can work out. Just be prepared to experience some extremely trying times! |
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