So funny. I just got back from another trip and what voice mail did I get, “hey man are you ever home? All I ever read in your blog is you are going somewhere like Vegas or New York or Bike riding in the Sierras? Yes, you may have noticed that I took a little vacation….Bike pedals worked just fine…..
While I was away, I stayed in touch with my contacts asking about a plethora of positions on insurance and underwriting for the bike industry….what a challenge….it seems that if we want to sell accidental damage there may be a challenge unless it is sold as an augmentation to a service plan or replacement plan. If we want to sell maintenance there is not a challenge. We can take the approach of having the customer join a bike repair membership program that if the part of the bike breaks the part or the entire bike will be replaced for free as long as they understand that they replacement part or bike belongs to the membership, not them……then we have to ask, what do we do about consumables like tires and things like intertubes?
What a trip…what to do….
Here is what I think.
IBD’s, (Independent Bike Dealers) need to offer maintenance….they need to offer it all. Big retailers should offer the same plans they offer on Consumer Electronics, but with two options, either with or without consumables coverages…..
I’ll be getting going on pricing now so if you want anything else added in chime in soon. There are 15 million bikes sold each year in the USA alone.....Think we can tap into this?
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