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The company will maintain high-of-the-line inventory of bikes, elements and apparel. Other belongings embody instruments, cash register, computer, retail displays and signage. Intangibles, corresponding to expertise, relationships and site will prove to be probably the most useful components of Ride On Bikes. Ride On Bikes may be very conveniently positioned within the coronary heart of the University District in Pullman, Washington, a major location to supply the college college students with their biking needs.
- A clean and secure bike is what your clients are in search of.
- Ride On Bikes is a new firm being launched by Rick Austin.
- By visiting your native bicycle or retail store you will be able to seek out a variety of women and men’s bikes, helmets, and different biking equipment.
A low lease rate of $1 per sq. foot has been negotiated for a 5 12 months lease. Ride On Bikes is managed by Rick Austin, the corporate’s founder and sole proprietor. Rick has over 20 years of expertise in the industry, in addition to business education. Ride On Bikes also has two full-time licensed mechanics on staff and a component-time sales force to help with customer support. Use this retail bike store marketing strategy as your template to create one of the best bike store on the town that’s also a thriving, profitable business!
This has triggered a rise in demand for bicycles and equipment, the place markups are often 50% or greater. Service gross sales have also increased as more people are tuning up old bikes and often sustaining their new ones.
This is a smaller store and is inconvenient for the university students. In the nearby city of Lewiston there are two other bike retailers, which concentrate on mountain bikes. Ride On Bikes has unique distribution agreements and a preferred location for college students. These factors will permit Ride On Bikes to beat its competition.
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Sales within the bicycle trade are very cyclical, various with seasons and weather. Particularly with Ride On Bikes, sales will be slower in the summertime months because of the university, contrary to many other bike retailers. For this purpose, most sales efforts will take place through the school 12 months, especially in the fall when school is starting session and in the spring when students favor to be outdoors. More than 85% of gross sales will be made in-individual at our retail shop.
Ride On Bikes has secured an ongoing contract with the university’s security department to provide all new bikes and repair to its officers. The workers will pursue different bulk sales opportunities as well.
Ride On Bikes’ major goal market consists of scholars and faculty of Washington State University. This segment is made of 12 months olds that are energetic and participate often in out of doors activities. As the campus is relatively confined, with few college students driving, most all college students stroll or ride bikes to and from class. A secondary market consists of the rest of the inhabitants of the Quad Cities. This space is well-known for its mountain bike trails, river paths, greenbelts and road biking groups.
The 3,000 sq. foot store has over 1,600 sq. feet of retail space and 800 square toes of service space. The remaining portion of the building is used for office area and stock storage.
The staff will be motivated by sales bonuses for every bicycle offered. An aggressive advertising strategy shall be employed that will leverage the location of Ride On Bikes and the college students who’re most thinking about biking. The firm will work carefully with the college to supply bike clinics, group rides and other group-building occasions. Back-to-faculty specials and spring specials shall be offered to make it easier for students to afford a brand new bike. The company may also advertise in the student newspapers and promote events through the Activities Planning Board and space Chambers of Commerce. The newest trend is the rising demand for seashore cruisers and mountain bikes, each of which have relatively excessive margins. In addition, with gasoline costs increasing, extra people have chosen bicycles for commuting to work and faculty.