Bike riding continues to be one of the most popular pastimes in the world, so if you are considering the idea of starting a company, then a bike shop is a great idea. The great thing about starting one in Texas, especially in the burbs or smaller towns, is that there is a lot of scenery to enjoy a leisurely ride. At Austin Bike Tours and Rentals, we love to see local entrepreneurs accomplish their business goals, so we have some tips for how you can start a successful bike shop in your neck of the woods.
Find a Home (If You’re Relocating)
Are you moving to Texas to open up your bike shop? If so, welcome! The state has many great places to call home. To start, explore online housing market listings to get an idea of what the local houses cost in your area of choice and begin exploring neighborhoods that meet your budget. Also, if you’re moving with family, factor in school districts and daycare options as these will all weigh into your decision-making process. With careful planning, you can be sure that your move to Texas will be a smooth transition!
Find a Location and Get a Storefront
Since bikes take up a lot of space, you will want to find a suitable location to keep your inventory and sell or rent out your bikes to the customers. Start by finding the right location. Ideally, find a place that is near a forest preserve or a bike path so customers will be actively looking for your product. It is important that you do your research and look at where your target audience lives and works and then see what you can afford. If you lease a storefront, remember that there could be additional costs, including maintenance and taxes, so budget accordingly.
Consider Starting Your Business as an LLC
It is important to take time to figure out how you want to start and form your business. While there are several options, many people go with a limited liability corporation because it offers more flexibility and less paperwork, and you get great benefits come tax time. If you are new to the idea of an LLC then you should learn about the different services that can help you.
Many of these companies can work as a formation service, and the representatives there will look at the rules and guidelines of Texas and ensure that you are setting things up the right way. Research the companies on that list and choose one that fits your needs the best.
Find Ways to Make Your Bike Shop Unique
There are many different places where people can buy or rent bikes. There are specialty shops and also major retailers like Target and Walmart. To really attract the attention of your customers, you need to offer something extra.
For instance, you could find a way to make your bikes more affordable. Maybe you can do that by making a deal with your vendors to find more affordable prices or lower the utility bills at your store so you can afford to charge a lesser price on the bikes. Another unique idea is to offer custom bikes and parts so your customers can pick and choose their perfect model. Think about how you can stand out in a competitive market and go with it.
Provide Stellar Customer Service
Once you get your shop up and running, you can separate yourself from the herd by providing optimal customer service to your clients. That means you listen to their needs and come through on your promises and provide bikes that last the test of time. However, good customer service also means that you are there for your customers when something goes wrong. If they tell you that their bike broke or that they think they were short-changed in some way, then make sure to show empathy and provide a quick resolution that will keep them happy.
This is also important if your customers rate you on social media. When a customer posts a bad review, don’t get upset. Instead, reply back with an apology and offer a solution right there on the spot. That way, the other customers who see that post will know that your company always does what is right.
In the end, your bike shop may not be an overnight success. However, by looking for a house you love in the area, forming an LLC, finding a great location, and providing great customer service, you will see success down the road. If you would like to know more about us at Austin Bike Tours and Rentals, then contact using this form.