There’s actually a bright side to high gas prices! It’s true. I’ve witnessed it with my own eyes. Every day, I set out on my 7-mile urban hike. And, every day I pass by my neighborhood bicycle shop. Normally, the shop’s pretty sleepy. But recently, business is booming.
More often than is acceptable, the shop’s customers crowd me out off the sidewalk. According to the shop’s owner, the business’ new life is due, in great part, to incredibly high gas prices (up to $3.67 per gallon for regular gas).
All over the country folks are re-discovering their old bikes and buying new ones. And that spells opportunity for you!
To capitalize, you can do a few things.
- Buy a bike store ($100k will get you a nice one)
- Start your own bike shop–online or brick-and-mortar
- Start your own bike repair shop (Don’t want to or can’t afford to buy your own bike store? Take advantage of twin trends (1) Folks dusting off moldy-oldies in desperate need of repair and (2) New bikers will inevitably break something)
- Rent bikes to folks not ready to invest in one of their own
- Sell bike parts online
- Sell bike gear online or off-line
- Lead bike tours for those who want to shore up their pedaling power (and their nerve for riding in traffic)
- If you already own a repair shop or sports retail store, simply pump up your inventory
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