Loco summed what it is like to work in your own shop to a tee there! For a real life real time example I’m sat in the shop, worked up, waiting for something to do looking wistfully out at the sunshine!
I could be riding but I have to be here. You also need to think of the working hours with at least one late opening a week. If you don’t open both days at the weekend there is no point in even being there.
As a workshop based bike shop which looks like it’s to be the only model which might survive this dip we are in, I’m still at the mercy of the weather, the internet, saturation of new bike sales. Etc,etc…..
It’s very tricky trying to maintain a work life balance. If your a single man with a lot of energy, drive and passion then I would say go for it but with only the money you can afford to lose if it doesn’t take off. If you are in a secure relationship have a long talk with your partner about the demands opening up a new business will take. If you have kids I would say forget it as you will just not have the time to see them. Opening up and establishing a successful shop is more than a full time job. Premises (without which you can’t get a trade account) initial shop kit out and stock loading, a second set of bills (c tax, utilities, insurances) advertising or promotion to get your self out there. Web maintainence..
A solid well researched business plan is essential.
Well, enough of this doom and gloom I’m going to close for an hour and take the dog for a walk.
You need a shop dog too.