Notes from Chris

Episode 1438

In his day job, Richard Bexon is the Chief Operating Officer of Namu Travel Group. The company specializes in personalized, boutique experiences in Costa Rica, Panama, and Nicaragua. But getting people and items from one place to another isn’t just his job. It’s also his passion and his side hustle, too.

Richard is part of a triathlon and cycling club of around 200 people. They train together and travel to competitions all over the world—or at least they used to. One day, after looking for a new road bike, he found one he liked in the UK, which happens to be where he’s from. But he didn’t know how to get it to Costa Rica, which is where he’s been living for the last sixteen years. So he did some research, and ended up buying a solid plastic bike box.

After the bike arrived, a friend asked to rent the box. Richard didn’t have any use for it so he let his friend have it for free. But then he discovered that this was a common need. He started to wonder if there might be more of a market for these bike boxes. He spent two weeks putting together a Shopify website. He connected it with an availability and calendar app, and was good to go.

Richard’s upfront costs were $150 to buy a box and another $30 a month on Shopify. After just two days, he made his first ‘sale’ to a Canadian guy who rented a road bike for two weeks. Richard was over the moon. He’d done a lot of work to get the business started and that first sale proved to him that he was on to something. You might say the wheels were turning.

Richard soon acquired fourteen boxes. Customers make bookings online, get a confirmation text message, and then collect the bike boxes from his business partner’s house. He typically brings in around $800 a month, about $700 of which is all profit. Most of the process is automated, so it only takes him about two hours a week.

Right now Richard’s biggest struggle is the same one a lot of entrepreneurs are facing: COVID-19. With the travel industry shut down because of the pandemic, people aren’t renting as many boxes to take their bikes all over the world. Richard knows that the travel rebound will be slow. But he also knows that things will bounce back eventually, so he’s sold a few of his bike boxes. He knows he can buy more boxes when things get better.

Whatever happens next, he’s happy to keep pedaling.

 

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  MENTIONED IN THIS EPISODE:

• Learn more about Richard's bike box business at his Bici Box Facebook page.

SEE ALSO:

• Aussie Cyclist Shifts Into Gear With Online Shop: After a painful breakup, an account manager becomes a new spokes-person for side hustling by reselling bicycle gear.
• Geologist Rides Away From Full-Time Work: A Canadian geologist escapes the “cycle” of full-time employment by starting a mobile bicycle repair business, proving you can walk the walk if you talk the torque.
• Online Bike Store Owner Gears Up for Hands-Off Profits: After following his wife around Italy, an Irishman takes life by the handlebars—breaking the cycle of new jobs by learning how to drop-ship e-bikes.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

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