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Learn how to start a bicycle shop and serve the customers what they want and you will be successful. However, you must first be able to get the bicycles and the bicycle parts at a very low price and then sell them at a higher price to cover all your expenses and make a profit of at least 30%. To do this, it will require you to develop personal selling and managerial skills.
Contact a local commercial real estate agent in your area to help you start your bicycle shop. Inform the agent that you are looking for a high traffic area that has a building that can be used to start a bicycle shop. Tell the agent that when he finds the building, you will need for him to hold the building for 90 days so that you can get your licenses, permits and insurance along with your business plan.
Take care of the paperwork by going to your local city or county office and apply for a permit or a license to operate a bicycle shop. Apply for your state’s Department of Revenue tax ID number. Call (800) 829-4933 and apply for your Federal tax ID number.
Network with bicycle manufacturers to help you start your bicycle shop and call them and negotiate pricing for bicycles and bicycle parts. Do this procedure with several bicycle manufacturers and try to get the lowest price as possible. Go back to the real estate agent and rent or lease the building for your bicycle shop.
Order bicycles and bicycle parts to get your bicycle shop up and running. Purchase about 10 bicycles just to start out and keep several manufacturers catalogs on hand so customers can see what is available from your shop. Ask customers what they want and do your best to get it for them and you will be successful running your bicycle shop.
Here is a list of bicycle manufacturers to help you get started at this link: