Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company by Cope Kevin

Author:Cope, Kevin [Cope, Kevin]
Language: eng
Format: epub, mobi, pdf
ISBN: 9781608322473
Publisher: Greenleaf Book Group Press
Published: 2012-03-03T14:00:00+00:00

Austin’s Cycle Shop

Austin needed to make sure the new store and the acquired shop were set up to maximize revenue inize reven and profit. The key, he knew, was identifying what customers in these neighborhoods were looking for.

He regularly surveyed his own customers, but the needs of his new customers would be different because the demographics of the neighborhoods were very different. In his current shop, he mostly catered to sport cyclists, so he carried high-performance bikes. Near the college campus, he’d be dealing with a younger demographic made up of people who didn’t have as much cash to spend. He reviewed the sales history for the acquired shop and his assessment was confirmed. The inventory of high-performance bikes had a poor turnover rate, but the lower-cost models had strong sales numbers. He decided to keep a few high-performance models on hand but to focus his inventory on a range of affordable bicycles. He would also begin selling scooters, because they were very popular with college students.

In the new shop, he would be in the middle of a highly residential neighborhood. He spent some time in the new neighborhood, watching families who were out and about. Cycling among families seemed common, and so he knew he would need to sell kids’ bikes. It was a fairly affluent neighborhood, and there was a broad range of higher-end kids’ bikes that were highly adjustable and designed to last for a long time. He had also seen some innovative baby carriers from his suppliers that he thought would be good sellers. And it seemed like touring bikes would be a good idea for the adult inventory, with some high-performance bikes and parts on hand for the local fanatics.

One thing that surprised him was the number of scooters he saw in the neighborhood. He hadn’t anticipated that. He decided that he would also offer scooters at the new store, which would give him greater leverage in negotiating with suppliers.

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