Rental Bikes Help You Close Sales
I recently had the great pleasure of spending a day at the Richardson Bike Mart flagship store in Dallas. I spent an unforgettable hour with the iconic owner, Jim Hoyt. As we strolled through the store he shared snippets of his background and perspective on running an excellent bike shop.
The big picture takeaway was his genuine enthusiasm and a commitment to helping customers discover the joy of cycling. These are the keys to his success. Of course, it doesn't hurt that he is considered by many to be one of the best salespeople in the industry. This enthusiasm that Jim spoke about comes from more than just him, however. He has built an entire culture that truly reflects his work ethic and passion.
There is a book to be written someday on Jim and his philosophies, but for today I'm actually going to spend a moment to write about a simple process that General Manager Woody Smith shared with me about the role that rental bikes play in their business.
Simply put, rental bikes are a great tool for helping you close sales.
This process is firmly rooted in Jim's philosophy of building enthusiasm. Why? It’s simple, really.
Bike Mart recognizes that many of their adult customers are considering purchasing a bike for the first time since they were children. Something sparked their interest, whether it was seeing a bike race on television, watching a friend get back in shape through cycling, or having a new bike trail built near their home.
Whatever the reason, the customer is considering making an experiential purchase and in most cases only had a parking lot test ride to decide if cycling was right for them. Without rental bikes, this customer might decide not to take the risk of purchasing, or might go online to buy a used bike to minimize the cost of entry for a new activity.
Having rental bikes allows Bike Mart to say, "You know what, take this bike out for the weekend. Give it a shot and see what you think about it. If you like it, I'll apply the cost of the rental to your new bike. If you don't like it, you saved some money and don't have any guilt from looking at your new bike that you aren't riding."
I think this process is great. From a business standpoint, it increases conversion rates and drives sales. More importantly, from a big picture standpoint, it demonstrates how much you care about your customers’ concerns and genuinely want them to make the right choice.
With spring on the way, consider bringing in a few rental bikes and use this tip to learn from one of the best in the business.