Me(20) and my cousin(15) are commited to starting a bmx biking company. What we have planned on right now is to start by fixing up bikes that people already own (taking it apart clean/replacing parts, and painting if the customer would like) but as we get more business we begin to buy used bikes fix them up and sell them (NOT as new, but as a cheaper alternative). As far marketing this we are banking on word of mouf and flyers but then increase newspaper ads and possible a website. And as of profits go we were thinking 25% between the two of us (for now until we expand hopefully) then the rest being re-invested back into the company to buy paint, parts, advertising,etc. Also we plan to most of this with out financing just straight ouyt of pocket which I know will tough but I really think we can pull off. Does this seem to be a good (rough) business plan? Does anyone who has business expirence have any advice? Thanks in advance.

Sounds like a good idea, but you need to put everything down on paper with real figures and real goals. Don’t forget about the tools you will need to properly repair different parts. Sealed bearings in cranks, hubs, and stems can require special tools/presses. Eventually, you will want to delve into parts sales. That is where your real mark-up will be. Also, consider a good location. Somewhere near a race track or a skatepark would be ideal.

You may also need some kind of insurance because you are working on other people’s property in some cases.