Bicycle Shop Owner Salary Overview Salaries Related Industries 44k Avg Base Salary USD Find out what you should be paid Use our tool to get a personalized report on your market worth What s this Location United
Published October 6 2021 by Ray Keener A version of this article ran in the September issue of Bicycle Retailer Industry News I proposed partnering on a three part series to Jay Townley and Rick Vosper after reading that the Bicycle Industry Employers Association guarantees a 32 000 a year job to mechanics who complete their training When it comes to personnel costs the average wage for employees working in retail bicycle shops is around 12 to 15 per hour This can vary depending on the location experience level and overall responsibilities of the employees It s important for shop owners to ensure they offer competitive wages to attract and retain skilled staff members
Bicycle Shop Owner Salary
Bicycle Shop Owner Salary
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According to the latest statistics the annual revenue for bicycle shop business owners ranges from 100 000 to 5 million with an average of 500 000 This demonstrates the potential for a lucrative business in this thriving industry Several factors contribute to the variations in income for bicycle shop business owners This means that while some fail to cover their costs when they sell a bike for a 36 percent profit margin others make some money on a similar transaction Payroll the biggest expense The average store pays 25 4 percent of gross for owner and employee salaries compared to 22 5 percent for high profit stores
New bicycles are 47 to 50 percent of the total annual revenue 1 of the typical American bike shop When this data was analyzed it clearly showed that over the last 15 years the typical American bike shop has not made a net pre tax profit on the sale of new bicycles 2 If your bike shop is the exception congratulations What about store managers They earn 40 301 per year And storeowners The average bike shop owner earns 49 877 per year This is well above the national average for all workers but this is not easy work by any means
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Net margins Bicycle shops typically have an average net margin ranging from 5 to 15 In simpler terms if your bicycle shop earns 15 000 per month your net profit might be around 1 500 representing 10 of the total revenue We ll use the same example for consistency It s simple math 1 million in sales equals 200 000 in owner s compensation and profits compared to total revenue or profits of 20 percent Defining profitability is dificult Some IBDs continually invest with store remodels upgraded tools and many carry too much inventory by choice
In 2020 the global bicycle industry was valued at 49 99 billion and is expected to grow at a CAGR of 7 5 from 2021 to 2028 source Grand View Research This is impressive growth and it s proof that opening a retail bicycle shop could be a profitable business venture Salaries Interviews Insights Career Path How much does a Bicycle Shop Manager make Updated Oct 29 2023 Experience All years of Experience All years of Experience 0 1 Years 1 3 Years 4 6 Years 7 9 Years 10 14 Years 15 Years Industry All industries All industries Legal Aerospace Defense Agriculture Arts Entertainment Recreation
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Bicycle Shop Owner Salary - On average the annual salary of a bicycle mechanic in the United States ranges from 25 000 to 40 000 However it is important to note that this can vary significantly depending on your expertise and the type of establishment you work for Factors that Influence Bicycle Mechanic Salaries