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Friday Retailer Flex – Episode 34

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Take your business to the next level with the NBDA P2 Profitability Project.

Support the show

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The Friday Retailer Flex – Episode 34

Fri, 11/12

SUMMARY KEYWORDS

retailers, bicycle, profitability, business, group, general manager, dealers association, retail, implement, share, industry, improve, join, ready, information, today, compare, membership dues, data, shops

SPEAKERS

Heather Mason, NBDA

NBDA   00:10

You are listening to bicycle retail radio brought to you by the National bicycle Dealers Association.

Heather Mason  00:16

Welcome to the Friday retailer flex so weakly pointed digest of inspirational and actionable insights you can implement today to take your business to the next level. If you’re a first time listener, be sure to check out the previous episodes. Do us a favor and leave a review. Today’s Flex is about the NBDA P2 profitability program and why it should be important to you, the bicycle retail owner or general manager. I’m coming to you just back from two weeks on the road in both Naples Florida and Roanoke, Virginia, where we were hosting groups of our P2 profitability project retailers. 30 retailers from North America join us over the past few weeks. We filled the mornings with yoga guest speakers focus meetings peer to peer learning, afternoon daily rise and critical thinking sessions. Retailers uniting to help each other through pain points, share best practices and talk through timely topics such as E bikes, customer engagement and using data. The value of this experience cannot be stressed enough. Take a look at our NBDA Facebook page and Instagram feeds for some images captured over the past two weeks. Then go to nba.com and give your deposit to start the program in December this year. If you are ready to invest in your personal development as a bicycle retailer, join a pizza group. If you are ready to compare your key metrics with others learning from your numbers, join a pizza group. If you are ready to fine tune your business to generate more revenue. Join a pizza group. For a small investment your P2 membership dues will see your return at least two times over. It’s not an exact science but investing in yourself and furthering your education can only add to your success. I don’t want this to sound like an advertisement. But after spending these past two weeks with retailers, I saw firsthand the value, the pages and pages and pages of notes that these retailers are taking back to their stores that they can implement today. But don’t take it from me. I was recently emailing with Jeff Seltzer, General Manager of Palo Alto bicycles, who wrote me that he was involved with the P2 program from its inception. He wrote that meeting like minded retailers who were interested in proving their businesses as well as the industry had been one of the highlights of his tenure in the industry. He shared his top takeaways such as the P2 group acting as a board of directors, how often as a shop owner or general manager, the buck stops with you. There is no one to discuss the problems you’re having with staffing or business practices or other issues. But having a P2 group gives you essentially a board of directors who are there to help you succeed at any time. He went on about the numbers, taking those numbers of gross sales, payroll route labor, and comparing them to other shops to see how you’re doing gives you firsthand critical information that is super valuable at the end of the day. He then went on about the shop visits, part of the PTA program involves having other retailers in your group, come visit your store and give you firsthand information, cold, hard truth, non threatening about how you can improve. He said it was like standing in front of a crowd in your underwear. It’s terrifying and vulnerable. But it’s feedback that is able to be implemented and makes your business more profitable in the long run. He finalize the email saying that with anything in life, you get out what you put into it. It’s not a magic pill, you have to be willing to roll up your sleeves dive in and implement what your PTO group gives you. So who should join P2, P2 is perfect for independent bicycle retailers who are unsatisfied with your current profits, and you’re ready to take your bicycle retail profitability to the next level. So for retailers in their first five years of business P2 provides valuable insights to help you with planning, avoid common pitfalls and thrive during the early vulnerable years of your business. For experienced retailers. This program is highly beneficial for experienced retailers with proven success in the industry who are looking to expand your business, refresh your approach, learn from others and share expertise. What do you get as a PTA member support? We place you with a group of non competing retailers across the country for transparent information sharing and in person and virtual support from some of the nation’s top bicycle retailers. You can participate in virtual roundtables and events with industry leaders and retail experts. You get P2s KPI dashboard offering you benchmark data so you can compare your metrics to other shops and learn how to improve RP2 groups professionally facilitated and coordinated to ensure your group stays efficient and focused. P2 will empower you to improve profitability. And if you’re serious about growing your business now is the time. Groups are forming now for the 2022 program that kicks off in December. You can learn more and sign up@nba.com backslash profitability dash project dash P2 the NBA extends our things to our membership base. membershiP2 the NBA is open to retailers, industry, suppliers, advocacy groups, organizations and individuals. If you’re not already a member of MBDA do so today nba.com. If you’d like to support the show, don’t forget to subscribe and share your favorite episode with friends on social media. We appreciate you listening. Thank you and now go be great.

NBDA   05:49

This has been bicycle retail radio by the National bicycle Dealers Association. For more information on membership, and member benefits, join us@nbda.com

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The NBDA has been here since 1946, representing and empowering specialty bicycle dealers in the United States through education, communications, research, advocacy, member discount programs, and promotional opportunities. As shops are facing never-before-seen circumstances, these resources offer a lifeline. Together, we will weather this. We at the NBDA will not waver in our commitment to serving our members even during this challenging time—but we need your support.

Now is the time to become a member as we join together to make one another stronger. Whether you’re a retailer or an industry partner, your membership in the NBDA is one of the best investments you’ll make this year. 

Learn more about the benefits of being a member and join now.

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