Taking full advantage of my degree earned over five years I took a job at a bike shop a few months ago. I’m planing on only working here while I work on my MBA, then I’ll upgrade to used car salesman. Trey, Chris, and I spent a large portion of our time in junior high and high school mountain biking. None of us had enough money to buy nice bikes, but we made due. We rode at Southside quite often and had a great time doing it.
The shop that I’m working in now deals mostly with high-end bikes that cost on average $1,500 to $2,000. When I first took the job I figured that maybe one customer would come through daily. I could not imagine that there were a lot of people that were willing to spend that much money on a bicycle. A few weeks after starting my job I was quite surprised to learn that we average $10,000/day in bike sales. This got me feeling good.
If the US economy is so poor, how are people are still able to spend $2,000 on a bicycle? The economy can’t be that bad right? That’s what I thought until yesterday.
Let me backtrack for a moment. Living in Denver puts me 5 hours away from one of, if not the best mountain biking locations in the world. People literally fly from all over the globe to come and ride at Moab, Utah.
So yesterday a young girl, probably around 21-23 came in the shop. She was eying a $500 used road bike that was on the rack outside. She came in and asked to see the bike. As soon as we walked outside and she pointed out the bike it was obvious that the bike was much large for her. After talking for a moment I pointed out how big the bike was in relation to her size. She immediately told me that she didn’t care. She lives in Melbourne, Australia and with the exchange rate and scarcity of bicycles, she would be able to sell the bike for at least double what she paid for it. So in a matter of a minute and a half she purchased a $500 used bicycle.
Then today I’m opening the store at 9:30. About 9:45 two gentlemen with Scottish accents come into the shop. They are on there way from Scotland to Moab and want to buy a bike. After a few minutes of looking, one of the gentlemen settles on a $1600 Trek Fuel Ex 6. While ringing the gentleman up I asked him what kind of bike he rides in Scotland. He said that he rides a similar style bike. I found it odd that this guy would come all the way to Denver to buy the same kind of bike he already has at home. When asking him why he didn’t just bring his bike with him, he told me that he can buy this bike in the US, have it shipped home, sell it, and still make more than double what he paid for the bike and the shipping.
I didn’t think the economy was doing well, but I didn’t know that it was as bad off as it is. Now we all know as soon as we get our $600 check everything will be fine again… thank god for the genius of the Administration. If you’re waiting for a conclusion to this just be patient…