Due to a drastic increase in rent, Cherry Cycles will be moving this fall. As with many other shops, Cherry Cycles is at the mercy of real estate and retail shifts. Recently CNN stated that this year an estimated 12,000 small business are estimated to close, twice as many closed in 2017 due to trends towards online sales. Small bike shops are especially having a hard time staying in business. In the Twin Cities alone, 7 shops this year will have closed their doors. According to Bicycling Retailer and Industry News, the US has lost 42 percent of bike shops since the industry’s height in 2001. Unfortunately, too many folks aren’t buying enough in store or getting enough routine maintenance for bike shops to stay in business. I also have had difficulty, stocking the large quantity of diverse inventory necessary and investing copious amounts of time to set up, sell, and provide follow up for new and used bikes. Meanwhile competing with online sales is daunting. I’ve worked to sustain my mission of a welcoming shop with technical training and fitting expertise while staying small to maintain my mental and physical health. Successes were grand but not financially advantageous. You should know that its going to be okay. Though I’ve met so many awesome people over the last 8 years, honestly, I’m relieved to be taking a step back to reflect, plan, and consider.
To those of you who are disappointed that I am not jumping straight into another retail spot, I want to apologize. I didn’t meant to get your hopes up for a long term shop, though I too wish it could have been sustainable. When asked how the shop was going, I never meant to mislead anyone by saying fine and good. Maybe it was the Minnesota nice in me, or the brute strength and ignorance, but having only $2k and no credit to get any loans, I invested years of working under minimum wage to sustain the shop. As individuals asked for particular inventory, I rushed to stock it. I felt guilt and shame at all the suggestions of what I could and should be doing with the shop. My impostor syndrome, feeling not like a real business owner, made me feel like I had to do everything all the time even though I was just one person. Also, in hindsight, fear held me back. I didn’t recognize it at the time; I thought I was being responsible and financially prudent. I didn’t want to advertise because I feared I’d be overwhelmed. I didn’t want to take on staff because I feared I wouldn’t be able to pay them on time (this has happened at shops in town). I didn’t build up a reputation for myself, because I feared the cult of the owner (those who say, “oh, I know the owner.”) I was worried that my gender would be judged by my failings. These feelings I’ve cut away and can proudly say that I’ve been in the same location for 8 years and have been happy to serve folks at this Loring Park location. Now I’m minimizing my inventory and thinking about a dream future.
Potential options include, but are not limited to, a nook or cranny for a service shop in Loring Park, North Loop, or Camden to fill the bike shop voids, a bike pick up and delivery service, or a repair and/or fitting space in downtown be it on a 14th floor or in a basement; hell OR high water! After a winter sabbatical, March will be dedicated to completing repairs and builds. Hopefully come April the shop will be open again for service in a new location, if not, bikes will be repaired and competed by appointment with pick up up and delivery within 4 miles from 55403.
HOW is this Loss your Gain?
In trying to cut down storage costs during the off season, Cherry is offering you a chance to get that full bike shop experience at a discount. Middle of August, Cherry Cycles purchased 12 brand new bikes to make sure to have a variety of hybrids and single speeds in every size, less than two weeks later and learned of the move. These new bikes are now going at a discount!
Place an order for a customized used or new bike ($400-$1,800) to be completed by April.
Used bicycles, as well as overstock inventory such as pumps, lights, and locks can be yours for a low rate between now and December…while supplies last!