Are mobile bike shop franchises a good idea?
The need for quality bike mechanics is on the rise, along with entrepreneur culture so I thought it would be helpful to make a video giving my thoughts on starting with a mobile franchise like Velofix.
Anyone that knows me, knows I am a huge believer in mobile bike repair but when you run the numbers, going with a franchise simply does not make sense. You will easily spend $100,000 or more to open a franchise instead of starting your own, independent brand. Beyond the initial start up costs, these franchises take 10% or more of your gross which makes this tight margin industry even more difficult to be successful in.
Check out the video above to get more of my thoughts on the subject.
Anyone that knows me, knows I am a huge believer in mobile bike repair but when you run the numbers, going with a franchise simply does not make sense. You will easily spend $100,000 or more to open a franchise instead of starting your own, independent brand. Beyond the initial start up costs, these franchises take 10% or more of your gross which makes this tight margin industry even more difficult to be successful in.
Check out the video above to get more of my thoughts on the subject.
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