So you want to start up your own Toronto bicycle shop and you have decided that the best bike shop Toronto is going to be a bicycle store that specializes in just bicycles. Now, it’s time to look at the options available to you and figure out how you are going to get there.
First Things First
The first thing you need to do is find a place to put your store. This could be a small place or a large warehouse, if you are a very big guy or gal, or perhaps a rather large structure for many employees, depending on how many bicycles you plan to sell and if they come from many different locations. Most likely the best business to start with is an indoor shop, unless you plan to sell only through bicycles.
Once you have chosen the area where you will get your merchandise, the next step is to begin looking for your first wholesale supplier. You should know how much money you can make before you decide on any suppliers.
By this time you should have found several wholesale suppliers. A few should already be doing business with you, while others may be offered by other people as a favor. You will also want to have some stock on hand so that you can sell new and used bicycles.
Working With Bike Suppliers
Make sure that you check out every supplier for information on their terms and conditions, and especially for free samples. If the suppliers don’t have anything of value for you, you can probably stay away from them.
Once you have the wholesale supplier, you must then sign a contract with them. If you do not sign this contract, you cannot sell for them.
You will need to take the necessary steps to meet legal requirements of a business. You will need to get a license, a certificate of authority, and take the necessary steps to protect your products. You will need to secure resell rights to your product. Many times this can be done for a small amount of money, but if you pay more you may end up having to pay more taxes or taking care of the law.
Advertising a Bicycle Shop in Toronto
The best bicycle shop will likely advertise their business in the local newspaper. They may also ask for a percentage of the sale to help pay for advertising.
You will need to keep track of your deliveries and be sure that the quality of your goods is good. You can’t let customers complain about their bicycles or you will lose customers.
In summary, the best bicycle shop is the one that has all the above items ready to go and ready to sell. You may need to do the research yourself, but you should be able to find a supplier that you can work with easily.