COVID-19 has been a boon for the bicycling industry, one that nobody anticipated. Ridership and sales are up across the board. While this is great news for bicycle manufactures, it has come with some challenges. Here I summarize how I have had to change my business in order to adapt to the new reality of manufacturing delays, backorders and the financial pressures they create. Thank you in advance for your understanding and support in these difficult times.
I have changed my deposit process to allow me to pre-purchase your components to ensure an on-time delivery of your bike. Many manufacturers are quoting 4-6 month lead times for key components, which means they must be ordered many months in advance. I now request a 50% deposit on frame and components as a result.
I offer a discount on components for full builds. However, because of manufacturing delays and backorders, I am forced to buy components from retailers instead of through OE accounts. The margin I make on component sales covers my time sourcing components and assembling your bike and they are critical to keeping my business viable. If components are not available through my OE accounts, your cost will be the retail cost plus a sourcing and build fee to cover my time ordering components and assembling your bike.
Prices quoted are for cash and check payments. Credit cards and banks charge a fee to process electronic transactions. Regardless of the payment method, my product is the same. Credit cards and electronic bank transfers are convenient, but place a financial penalty on my business. Instead of raising prices across the board to cover these fees, I am passing them on: 3% for credit cards; 1% for bank transfers. This is the most equitable way to handle these fees I can think of.
Sourcing components currently requires 2 or 3 times more time because of shortages. This reduces the time available to respond to inquiries, so I am limiting the types of communication I respond to. I will not be responding to DMs and texts moving forward. If you are interested in discussing a project, I am available by email and phone.