Quote:
Originally Posted by John510
My 2 cents....
Research Research Research. Ask a LOT of questions to owners of other bike stores. I would even go work at one if I was you so you can learn everything.
Also, how many people ride bikes where you live? In Dublin, CA I see bikers constantly. In fact there are so many of them they get in the way. However in Hayward I never see any. So a bike store in Hayward wouldn't do nearly as well as Dublin.
Also, if you don't have assets the bank will not give you a SBA loan. You will either need home equity or equipment for them to put a lein or UCC filing.
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Thanks John, yes I get what you are saying about the demand for the product, yes there are lots and lots of bikes along this trail it really goes on for like a 100 miles or so. I plan todo lots of research on the industry, also I get what you are saying about the SBA loan, I have looked into that before for a body shop, lots of assets in that industry but yes not so much in this one so I will see where that goes. Thanks for write up you posted very good stuff there
If I go with just the bikes to start out then I won't need the loan to get it started, where I was thinking I would need more capital was getting into the whole outdoor kind of store, but as I stated before I may start with just the bikes and see about the other in the next stage of the business.