Opening a bike repair shop is a great way to make money in the automobile industry but it is only possible when you have excellent repairing skills. Bike repair services are in need for various bike related issues including small tire punctures, tire replacement and repair. Here are the five important steps to get you started with a bike repair shop in your locality.
Market Research and Planning
Make sure you won’t underestimate the need for research as it is the best way to understand your local market and demand for your bike repair services. You will be identifying your target customers who are mostly commuters, cyclists. Also draft a business plan that should outline your services, pricing strategies and location.
Legal and Financial Setup
There are three important leaps you should make and they are business registration and making sure to obtain any mandatory permits and licenses from your city authority. You also will have to open a business account in your nearest bank to make sure your finance remain seperate. In addition, you should obtain an insurance coverage like liability insurance as it would help protect your business from any untoward incidents in the future.
Location and Equipment
This step would get you involved in two important leaps. You will be required to pick a suitable location for your shop and a good one has good visibility and accessibility. Invest some amount of money buying quality tools and equipment for bike repairs and maintenance. Also make sure to create a workspace that has an organized storage to keep your parts and tools.
Marketing and Branding
The marketing strategies should not only be economical but also effective when it comes to getting your word out in the target market. You should create a memorable brand for your shop, which includes a logo and a signage. You also will need to develop an online presence via a website and create social media to get to more potential audience. In addition, you should give offers and discounts to attract initial customers toward your business.
Skills and Training
You will be making sure that you and your employees posses the necessary mechanical skills for repairing bikes of people. You also will to stay updated with latest industry trends and adapt to the tecnologies while making sure to provide training and certifications. Lastly, don’t forget to offer excellent customer services as that would help you build a loyal client base.