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.

Yes customer retention Ben, very important, give it try.

/\ x100,000
On the relying on workshop thing…
I’d average 25-28k a year on labour in a busy shop (1st services and pdi’s cut into workshop time and are unaccredited) and another 65-70k in parts.
Obviously the labour is at 100% margin (minus consumables) vs the parts at 35%ish…. if you’re not price matching (and about 10% if you do).But that’s all I had to do 9 hours a day.No dealing with suppliers,accounts,wages,rent,booking in/handovers.It also includes 3 months every year where you do a LOT of sweeping up/tidying trying to keep busy.3 months where you don’t get to stop for food,start early and finish late and work your days off (the other 6 months it’s fairly normal).
I’ve also done the running a shop single/double handed and if I got to do a couple of hours actually fixing bikes instead of everything (that does’nt get you paid directly) else I was doing well.
I left the bike biz last year after 12 years.I can’t realistically see any future in me returning.

Yes customer retention Ben, very important, give it try.

Yes customer retention Ben, very important, give it try.

I do okay with that, but hopefully without freaking people out too much 😀

Loco summed what it is like to work in your own shop to a tee there!

Not my words but ring fairly true tbh, they were actually from the advert Ben Cooper linked to a few post up.

As a contrary opinion, though, I work about 35-40 hours a week, and make an okay living at it – it’s also very family-friendly as I can take time off whenever I want.

Find a niche, and you don’t really have to be open all hours.