Posts Tagged ‘Hill Abell’

All boomed out

December 18, 2020

After a long and oddly fruitful year, some bike-shop owners are deciding it’s time to step away from the table while they’re still winners, according to Bicycle Retailer and Industry News.

My man Steve Frothingham reports that the year was both good and bad for a lot of businesspeople. Good, in that they moved a ton of product, made a bunch of money, and dug out from under a mountain of debt; bad, in that it left them fried, dyed and whipped to the side.

“We’ve done well, I don’t want to mislead anybody,” said one retailer. “It just did start to feel like we were in the store-running business instead of the bicycle business. I realize that the store-running business is where the industry is going, but maybe our talents are better used elsewhere.

“And I have to say, we’re just exhausted.”

Some are changing their business models. Others are selling outright, in some cases to Trek. That’s the route Hill Abell and Laura Agnew took with Bicycle Sport Shop in Austin, Texas.

The two announced the sale yesterday, then spoke with Ken Herman at the Austin American-Statesman.

Bicycle Sport Shop had been suffering a downturn until The Bug® turned bicycles into a must-have item.

As a consequence, 2020 has been “absolutely phenomenal, which allowed us to pay down all of our debt and to actually pay our people more,” Abell said. “So it’s been a really good year for the biking industry if you’re a decent operator.”

Despite the banner year, Abell and Agnew were still looking for a way out, and found it in Trek. The four Bicycle Sport Shop locations will close Jan. 17 and reopen a few days later as Trek stores. The store-running business, as the fella says. So it goes.

Anybody else seeing their favorite local shop go corporate … or just go?