Money in motorcycles?
Discussion
I'm getting well and truly fed up with the grind of being a man in a suit. Talking to my girlfriend earlier (who is also a biker) and we started chatting about what would make us happy and fulfilled workwise. There are no major motorbike dealers in Bath, which is the city closest to where I live, and so far as I'm aware there are only two very small second hand bike shops and one breaker. There are lots of empty former petrol stations around the city. Does anybody have any experience of running a bike shop? WOuld it be as great a life as I imagine it to be, or a surefire route to bankruptcy and misery? I have precisely no experience of the retail sector, although I do have almost 24 years' experience of being a biker. Somebody tell me that this is a stupid idea and I should forget it immediately!
go for it or you'll never know if it would work. all advice is from someone with no idea & shouldnt be trusted.
as an aside, recently (few months ago) a bike shop opened near me as a franchise of 'top bikes' i believe. he sells chinese 125s & 2nd hand bigger bikes, seems to be doing quite well We already had a big established (but shit) bike shop in the town.
as an aside, recently (few months ago) a bike shop opened near me as a franchise of 'top bikes' i believe. he sells chinese 125s & 2nd hand bigger bikes, seems to be doing quite well We already had a big established (but shit) bike shop in the town.
It is a stupid idea. Forget it at once.......
Mind you, IF you did want to do it then FFS open on Sundays. The old Carnells stores were heaving on summer Sundays, with bikers meeting there, getting a bite to eat, buying accesories and throwing a leg over new models.
Make it a destination for bikers, rather than just another shop.
My sensible head says you'd probably be better off organising bike tours, off road events or something like that.
Mind you, IF you did want to do it then FFS open on Sundays. The old Carnells stores were heaving on summer Sundays, with bikers meeting there, getting a bite to eat, buying accesories and throwing a leg over new models.
Make it a destination for bikers, rather than just another shop.
My sensible head says you'd probably be better off organising bike tours, off road events or something like that.
There is always money to be made from bikes if you have the right personality for it.
There are several elements to running a shop;
Buying – offering as little as possible for each and every bike, often offending the seller with your offer.
Selling – selling your latest acquisition for as much as you think you can get away with.
Customer service – kissing up to the general public no matter how rude or wrong they are.
Accounts – having a good understanding of the fundamentals of business like cash flow, VAT, PAYE, profit etc.
Employer – dealing with lazy sales and service staff who do as little as possible for as much of your money as possible
Depending on your savings you will need to have a regular income coming in while the shop finds its feet until it builds up a decent bank balance.
Most of the money in used bike sales is in the buying, so if you’re good at haggling you’ll be fine.
If you’re going for a main dealership be very careful. You will have to invest a lot up front to purchase their minimum level of stock and basic staff levels etc. This means you’ll be gambling with a massive amount of money straight away. Unless you are minted I’d avoid this route for a few years.
If you have the personality for it, can get on with anyone, can take 5h1te from the public and work all hours, 7 days a week, you will love it
Think long and hard though because it will be all consuming.
Feel free to email/PM me if you want any pointers
I’ve been out of the game for a few years now, but the principles will never change.
There are several elements to running a shop;
Buying – offering as little as possible for each and every bike, often offending the seller with your offer.
Selling – selling your latest acquisition for as much as you think you can get away with.
Customer service – kissing up to the general public no matter how rude or wrong they are.
Accounts – having a good understanding of the fundamentals of business like cash flow, VAT, PAYE, profit etc.
Employer – dealing with lazy sales and service staff who do as little as possible for as much of your money as possible
Depending on your savings you will need to have a regular income coming in while the shop finds its feet until it builds up a decent bank balance.
Most of the money in used bike sales is in the buying, so if you’re good at haggling you’ll be fine.
If you’re going for a main dealership be very careful. You will have to invest a lot up front to purchase their minimum level of stock and basic staff levels etc. This means you’ll be gambling with a massive amount of money straight away. Unless you are minted I’d avoid this route for a few years.
If you have the personality for it, can get on with anyone, can take 5h1te from the public and work all hours, 7 days a week, you will love it
Think long and hard though because it will be all consuming.
Feel free to email/PM me if you want any pointers
I’ve been out of the game for a few years now, but the principles will never change.I agree with some of mp3sm's comments. My family have been in the bike business for nearly 30 years, 25 as a main dealer, it's proper hard graft to get started and cement your foundations.
The margin on new bikes is no way as big as you would expect, it's a good suggestion to look at the used market to start things off. Business basics are a must and you need to be clear on the directions you are heading, cheap and cheerful or top end used sales (I would suggest the later would work better for Bath). Take pride in your stock, the presentation, your suppliers and how you treat the customer, bike customers are fickle things and repeat customer keeps businesses alive.
Other things to consider is if you would have a workshop, or a partnerhsip with a bike workshop. You will need something if you are buying in used bikes and putting them on the showroom.
Another point I will make is that our business would have gone under several times over if we did not offer other services, parts, clothing, workshop etc.
The margin on new bikes is no way as big as you would expect, it's a good suggestion to look at the used market to start things off. Business basics are a must and you need to be clear on the directions you are heading, cheap and cheerful or top end used sales (I would suggest the later would work better for Bath). Take pride in your stock, the presentation, your suppliers and how you treat the customer, bike customers are fickle things and repeat customer keeps businesses alive.
Other things to consider is if you would have a workshop, or a partnerhsip with a bike workshop. You will need something if you are buying in used bikes and putting them on the showroom.
Another point I will make is that our business would have gone under several times over if we did not offer other services, parts, clothing, workshop etc.
Edited by jdwoodbury on Sunday 18th November 09:03
rsv gone! said:
It is a stupid idea. Forget it at once.......
Mind you, IF you did want to do it then FFS open on Sundays. The old Carnells stores were heaving on summer Sundays, with bikers meeting there, getting a bite to eat, buying accesories and throwing a leg over new models.
Make it a destination for bikers, rather than just another shop.
My sensible head says you'd probably be better off organising bike tours, off road events or something like that.
Mind you, IF you did want to do it then FFS open on Sundays. The old Carnells stores were heaving on summer Sundays, with bikers meeting there, getting a bite to eat, buying accesories and throwing a leg over new models.
Make it a destination for bikers, rather than just another shop.
My sensible head says you'd probably be better off organising bike tours, off road events or something like that.
When I bought my SV I even bought a pre paid service unlimited for 3 yrs
The dealer has gone wallop and Suzuki wont step in with any goodwill gesture
m3psm said:
There is always money to be made from bikes if you have the right personality for it.
There are several elements to running a shop;
Buying – offering as little as possible for each and every bike, often offending the seller with your offer.
Selling – selling your latest acquisition for as much as you think you can get away with.
Customer service – kissing up to the general public no matter how rude or wrong they are.
Accounts – having a good understanding of the fundamentals of business like cash flow, VAT, PAYE, profit etc.
Employer – dealing with lazy sales and service staff who do as little as possible for as much of your money as possible
Depending on your savings you will need to have a regular income coming in while the shop finds its feet until it builds up a decent bank balance.
Most of the money in used bike sales is in the buying, so if you’re good at haggling you’ll be fine.
If you’re going for a main dealership be very careful. You will have to invest a lot up front to purchase their minimum level of stock and basic staff levels etc. This means you’ll be gambling with a massive amount of money straight away. Unless you are minted I’d avoid this route for a few years.
If you have the personality for it, can get on with anyone, can take 5h1te from the public and work all hours, 7 days a week, you will love it
Think long and hard though because it will be all consuming.
Feel free to email/PM me if you want any pointers I’ve been out of the game for a few years now, but the principles will never change.
I like the OP have also thought of doing this... found the "right" place as well There are several elements to running a shop;
Buying – offering as little as possible for each and every bike, often offending the seller with your offer.
Selling – selling your latest acquisition for as much as you think you can get away with.
Customer service – kissing up to the general public no matter how rude or wrong they are.
Accounts – having a good understanding of the fundamentals of business like cash flow, VAT, PAYE, profit etc.
Employer – dealing with lazy sales and service staff who do as little as possible for as much of your money as possible
Depending on your savings you will need to have a regular income coming in while the shop finds its feet until it builds up a decent bank balance.
Most of the money in used bike sales is in the buying, so if you’re good at haggling you’ll be fine.
If you’re going for a main dealership be very careful. You will have to invest a lot up front to purchase their minimum level of stock and basic staff levels etc. This means you’ll be gambling with a massive amount of money straight away. Unless you are minted I’d avoid this route for a few years.
If you have the personality for it, can get on with anyone, can take 5h1te from the public and work all hours, 7 days a week, you will love it
Think long and hard though because it will be all consuming.
Feel free to email/PM me if you want any pointers
I’ve been out of the game for a few years now, but the principles will never change.
Doubt I'll ever do it tho
But know where to go for some pointers
Mon Ami Mate said:
..Like the idea of setting up a pub/cafe/live music venue around it and focusing on used sales...
I'd advise you to do one or the other. That last thing you want is your customers socialising on the premises.Imagine if they have a problem with the bike. Rather than sorting it out between the two of you, you'll have a shop/cafe full of customers hearing about every problem you ever have.
The theory is great, but the harsh reality of customer service is an altogether different beast
m3psm said:
Mon Ami Mate said:
..Like the idea of setting up a pub/cafe/live music venue around it and focusing on used sales...
I'd advise you to do one or the other. That last thing you want is your customers socialising on the premises.Imagine if they have a problem with the bike. Rather than sorting it out between the two of you, you'll have a shop/cafe full of customers hearing about every problem you ever have.
The theory is great, but the harsh reality of customer service is an altogether different beast
Mon Ami Mate said:
m3psm said:
Mon Ami Mate said:
..Like the idea of setting up a pub/cafe/live music venue around it and focusing on used sales...
I'd advise you to do one or the other. That last thing you want is your customers socialising on the premises.Imagine if they have a problem with the bike. Rather than sorting it out between the two of you, you'll have a shop/cafe full of customers hearing about every problem you ever have.
The theory is great, but the harsh reality of customer service is an altogether different beast
foxes near oxford
squires up leeds (ish) direction
and err cant remember the name down in horam east sussex
they seem popular so it can/does work well.
In my limited experience the best money seems to be made in boring stuff: computer programming, selling insurance, quantity surveying, etc.
I tried making money out of bikes first as a despatch rider then as a mechanic. Never made much out of either. You might make more with the added risk of owning a business but I certainly wouldn't count on it. I'm sure it can be a brilliant business but the rewards might not always be financial.
My advice: Go for it!
I tried making money out of bikes first as a despatch rider then as a mechanic. Never made much out of either. You might make more with the added risk of owning a business but I certainly wouldn't count on it. I'm sure it can be a brilliant business but the rewards might not always be financial.
My advice: Go for it!
supersingle said:
In my limited experience the best money seems to be made in boring stuff: computer programming, selling insurance, quantity surveying, etc.
I tried making money out of bikes first as a despatch rider then as a mechanic. Never made much out of either. You might make more with the added risk of owning a business but I certainly wouldn't count on it. I'm sure it can be a brilliant business but the rewards might not always be financial.
My advice: Go for it!
It's certainly not the easiest way to make a living. It is really good fun though when times are good. When people are tightening their purse strings though, the luxuries are the first things to go and the pinch is felt immediately.I tried making money out of bikes first as a despatch rider then as a mechanic. Never made much out of either. You might make more with the added risk of owning a business but I certainly wouldn't count on it. I'm sure it can be a brilliant business but the rewards might not always be financial.
My advice: Go for it!
I've also done despatch riding as well as the shop simply because it looked like the perfect job. Again, hard work to earn a living and people want their parcels no matter how cold, dark and wet it is
I'd still love to make money from something I love but have resigned myself to the "normal" route now. Good luck though to all those who do try. All big businesses start somewhere so don't ever be told it can't be done
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