William OLeary
Austin, TX (USA)
Role(s):
Founder/Owner/Principal
Spoke-n-Gear
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Startup
Location:
Austin
Industry:
Sports/Recreation
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
There's a store front at 8th & Congress that has been vacant for at least the past 7 years. Congress Ave is THE major street in Austin where thousands of cyclists ride on any given day, and having a bike shop right in the heart of downtown would be extremely lucrative. There are hundreds of pedicab riders, bicycle couriers, hundreds of commuters, and hundreds more cyclists that pass through this intersection daily. Bike shops make a majority of their sales on accessories like tubes, chains, tires, clothing, and repairs. And this would be the main focus of a bike shop at this location, as well as carrying at least 1-2 lines of bikes. Recent county tax appraisal on the space was estimated at $130,000, but the space would need at least $50,000 in repair & remodeling which could be handled in house. Then figure in about another $60,000 in inventory, and another $75,000 in general operating expenses.