Mt Kisco Bike Shop (2024)

FAQs

How much does the average bike shop owner make? ›

The average bike shop owner earns $49,877 per year.

Call in the morning so there's a better chance of calling a shop with no customers in it. Tell them what you are looking for, see if they have your size, etc. You might aim at a lower model and see if they want to walk you up to a higher one by making you a better offer.

With a market size of $6.9 billion and 7,000 companies across the US, the average revenue for a bike shop is $985,000 per year. Yet, remember that this is only an average and the annual turnover of a bike shop can differ depending on the location and size of the shop.

Check that local bike shop first because they often have used bikes with good deals. Don't get a cheap, no-name bike that's going to fall apart in less than a year. Get a good quality name-brand bike, but just buy a used one so that it's cheaper.

Margins at successful stores goes hand-in-hand with pricing. There's an art to pricing items and services. There are many price-sensitive items that you can generally price at the retail price a supplier sets. These items most likely are bikes and other high-profile items.

What started out as a profit margin of around 15 percent is now 5 percent—and it might be even lower if “flooring” costs are factored in. Some models have higher margins and some lower, but it's the total picture that dealers have to look at.

How much does a budget mountain bike cost? The bikes on this list range from $380 to $1,820. That sounds like a lot, but consider that mountain bikes often run between $2,000 to $10,000, or even more.

A high margin would be 40-45% (66-80% markup), low end would be around 20% margin (25% markup) in my experience (as an employee). so for a $500 bike a 40% margin is $200, $300 original cost to the shop. In markup terms, a $500 bike that costs $300 wholesale is 200/300 = 66% markup. Keep in mind this is not profit.

For some, one bike is enough. But for the vast majority of “serious” cyclists, three bikes should take care of everything.

Fishing and cycling are among the ultra-rich's top ten favorite ways to spend their time, according to new research by wealth intelligence firm New World Wealth and investment migration consultancy Henley & Partners.

Why buy from a bike shop? ›

Often, these are cheap, knockoff products, which can create safety and reliability issues, too. Bicycles sold at bike shops come with full warranties. And, most problems are resolved in-house. Plus, shops stand behind their bikes and products with experienced mechanics and riding experts.

This is when people may be looking for the ultimate gift. In January dealers are looking to clear stock from their inventory and discounts may be offered. The best time to buy a bike is February. There is a decreased consumer demand and it is a short month for sales quotas.

The best way to get a bike that will last you 5-10 years is to invest in yourself. Spend a little more or look for quality used bikes. Bikes cost between $100 and up to $11,000. On average you should aim to spend between $1000 and $2500 on a bike.

When do bike shops have sales? Bikes are like cars: New models arrive on the bike-shop sales floor each year, typically in the fall as the riding season winds down. This is the best time to look for deals, because shops don't want soon-to-be-year-old inventory lingering through the slower winter months.

But flipping a bike is fantastically rewarding. Yes, it's a gamble, but it's breathing life back into something old and neglected. It's also profitable if you play your cards right, and it's just fun to do — you can make one little corner of the world a little brighter and fatten your wallet at the same time.

National Economic Impact Studies

Today, bicycling dealership and repair is a $5.5 billion national industry(1) that continues to grow. With a projected annual growth of 0.7 percent from 2021-2026, the bicycle industry is expected to exceed $5.7 billion in revenue within five years(2).

MARKET OVERVIEW

The Global Bicycle Market Size was valued at USD 76.33 billion in 2021 and is expected to reach at a CAGR of 6.5% from 2022 to 2030. The global bicycle market is projected to grow from USD 81.50 billion in 2022 to USD 128.73 billion by 2030.

Earnings by level

Pro continental cyclists: A step below the World Tour, Pro Continental teams' cyclists have a broad salary range. Their earnings start at just over $40,000, with the potential to reach up to $200,000. The minimum wage for this level is set at around $44,000.