Heartbreaking, we lost our shop in 2001 in Parker. 25 years later and still haunts me. I now have a garage shop with a large social media that helps me drive business. This has able me to have a shop almost anywhere and still contributing to my community. I wish the best of luck and hope they find their way.
Going to suck worse for both soon. The bike shop isn't going to be able to make the extra rent and have to pack it in. Then the new owner's income for that shop is going to go down to $0. And in these times, I'm not sure he'll find a new tenant very soon. Best of luck to both.
I think the new owner didn't really forecast how he was going to be able to pay for the property loan. $3,800 for a place that size? I think he's trying to make a killing, but I'll bet he is going down as well.
Doubtful. His actions are completely reasonable and he isn’t doing some sort of arbitrage. It’s pure business. I pay the same amount of rent this bike shop does and my apartment is a tiny box compared to that massive building.
@@Horus-Lupercal they've been on month to month for 30 years. There are only laws pertaining to how much you can raise the rent year to year within one lease term, At least where I am
@ 2:30. The climax of societal life comes into the story. Survival of the fittest. The original property owner, selling and banks giving out the NEW loans. What a scam. The original owner never paid that much for the property, then had been receiving all of the mechanics money for SIXTY YEARS! and gets paid off from the bank after the sale of the land to tge mechanic. This leads the mechanic to have to pay "double" for the same property plus now increasing the rent on the bike shop owner, basically putting him out of business. "The crime of poverty" Its a short read. Please check it out.
He's clearly been focused on parts; parts take a lot of space though, especially with the wider variety of designs used now. (Can't use an old stem on a new bike, & oh man all the hub widths!)
@@CleverAccountName303 blue cities/states jack up prices to line there pockets plus my home with one acre land cost me 60k in 97 today average home cost 230k witch is cheaper than most states
@@newmobile1455 do you know how a free market works? Property is expensive in places where people want to live (blue states and blue cities). No one wants to live in Alabama
Anybody that has had a business where they don't own the building has gone through this, maybe several times. Seems wrong. I've been a small scale landlord and that's got it's own problems too, but to lose an icon of the neighborhood is particularly tragic. Just read recently that 4 or 5 wall street corporations buy 1 in 4 of every home sold in America. It's always about money.
It’s insane the fact that we have to pay rent in the first place, the country belongs to the people who live there, we should be able to fully own our land without rent or property taxes of any kind especially if it’s to the point where you work hard everyday running a business and you can’t afford to pay the rent. It’s just ridiculous, it’s insanity. It should be where who ever is occupying the land gets it. It should be where anyone can go build a small house where ever they want and the land is there’s as long as they are living there. We are so lost as a society and the government and the extremely wealthy are purposely guiding us in a horrible direction.
Unfortunate that this is the fate of many small business owners. When will politicians realize that these type of businesses are what keep cities and towns viable and worth living in. You could not pay me to live in this part of Colorado, its just another bland corporate enclave like so many others that have dulled America. Whomever is going to be the next president needs to reign in the banks and make them quit being so overtly profit oriented when it comes to property rentals and ownership.
I agree. It's pointless to try to make _banks_ (of all business types!?), be anything but profit-driven, though. It sounds like you're looking for a public utility, rather than a private business enterprise. It should have been obvious, that bailing out lenders instead of debtors, was a bad idea that promotes oligarchy. Seems like the system is working great, for the people it's designed for.
Picture a ship leaking in a storm, with people on the lower levels working to bail each other out, while people on the upper levels pump water down the stairwells & hike up the price of buckets.
that is because 97%of people who call themselves cyclist drive a car 99.9%of the time I don't own a car so I can claim to be a cyclist since a bicycle is my only mode of tranportating
Bike manufacturers don’t help with pricing bikes out of most people’s reach. All my bikes have been second or third hand. Amazon doesn’t help LBS either as you can get parts cheaper there too. It’s a tough situation all around for LBS.
@@DannyPimienta if I can get a good frame cheap I will build it it will cheaper than buying it complete because I will buy better parts that I will not have to replace for a few years if ever
@@newmobile1455 that’s the route I’m currently on…going to build my own TT bike in the coming year. Picked up a gravel bike on the cheap to learn how to tool around on bikes that I’m currently working on and upgrading
@@DannyPimienta unfortunately things haven't gotten cheaper for bike manufacturers either. It's not like transportation, Manufacturing, labor, and materials have gotten cheaper. Don't get me wrong there is definitely room to bring prices down. I just don't think it's as much as people wish it was
Nah, he can't afford to keep his business either; that's why he's trying to buy the land on a short term loan that costs an arm & a leg. Rapid turnover of corporate-seized land back to debtors & seizing it again, makes it possible to drive up land prices even faster than with -inflation- _profit-taking_ & demand alone.
It’s sad to see a local business close. But, this guy has been at that location for 30 years… At some point he should have made different plans. Plans that dealt with his future. He clearly kicked the can for way to long…
My local bike shop in Fort Collins has been on four different locations over the years. This is normal commercial real estate stuff. Also, the whole bike industry is tanking bad right now.
@@charliedillon1400I agree the E bike industry is biting off the bike industry. My friend owns a small repair shop in NYC and E bikers coming non stop! roadies, fixi bikers seems to be strong but no as strong to keep a business running and no one is coming to buy bikes, only reason he makes money is for service.
Heartbreaking, we lost our shop in 2001 in Parker. 25 years later and still haunts me. I now have a garage shop with a large social media that helps me drive business. This has able me to have a shop almost anywhere and still contributing to my community. I wish the best of luck and hope they find their way.
I JUST found your channel, I will be watching your content from here on out.
the car industry buying up the bicycle industry to elimiate it's competition just like it did with the rail road industry
I wander what business will be able to pay that amount and how fast he can rent it. He may have just lost a year's worth of rent.
Going to suck worse for both soon. The bike shop isn't going to be able to make the extra rent and have to pack it in. Then the new owner's income for that shop is going to go down to $0. And in these times, I'm not sure he'll find a new tenant very soon. Best of luck to both.
I think the new owner didn't really forecast how he was going to be able to pay for the property loan. $3,800 for a place that size? I think he's trying to make a killing, but I'll bet he is going down as well.
Yeah, the body shop owner took a really terrible deal. He’s deffo gonna go down too. They could have worked a deal together.
the way most stores operate buy a product for $100 sell it for $500 all property values today are set at greed level
Gentrification is one of the most negative things for Communitys
Overpopulation, AKA having children.
The body shop guy will lose his business due to his actions.
Doubtful. His actions are completely reasonable and he isn’t doing some sort of arbitrage. It’s pure business. I pay the same amount of rent this bike shop does and my apartment is a tiny box compared to that massive building.
I would load all the parts in a big truck and move to a small townq
Aren’t there laws prohibiting that severe an increase of rent?
I guess not in CO.
Someone please create a GoFundMe for this man & his business.
There often are, but if they're not enforced, they don't matter. Landlords get away with what they want.
@@Horus-Lupercal they've been on month to month for 30 years. There are only laws pertaining to how much you can raise the rent year to year within one lease term, At least where I am
Yeah, it's not like residential leases where the tenant is protected from homelessness; commercial leases are not so tenant-friendly.
@ 2:30. The climax of societal life comes into the story. Survival of the fittest. The original property owner, selling and banks giving out the NEW loans. What a scam.
The original owner never paid that much for the property, then had been receiving all of the mechanics money for SIXTY YEARS! and gets paid off from the bank after the sale of the land to tge mechanic. This leads the mechanic to have to pay "double" for the same property plus now increasing the rent on the bike shop owner, basically putting him out of business.
"The crime of poverty"
Its a short read. Please check it out.
This is so sad 😔
Yes, and the world will keep spinning its always about $$$
Relocate to a smaller spot and focus on parts/accessories and repair service.
He's clearly been focused on parts; parts take a lot of space though, especially with the wider variety of designs used now. (Can't use an old stem on a new bike, & oh man all the hub widths!)
The body shop guy is done for, and he knows it-just look at his face!
Sad stuff man that man help me and a lot of ppl out 😔
why did that property cost over a million dollars ? it's more likely value is $500,000
$500,000 won't buy much land, inside the city, these days.
@@prophetzarquon you can in Alabama
@@newmobile1455 is this property in Alabama? You can buy 100 acres in Sudan for $1000. What's your point?
@@CleverAccountName303 blue cities/states jack up prices to line there pockets plus my home with one acre land cost me 60k in 97 today average home cost 230k witch is cheaper than most states
@@newmobile1455 do you know how a free market works? Property is expensive in places where people want to live (blue states and blue cities). No one wants to live in Alabama
Sad this is happening to small businesses all around the globe.
The answer is not to levi the cost of your business unto the public!! Your debt, your problem!!
So, all our packaging & products can go back to the manufacturers, after use! I like it.
America can gfis, im goin to an old fashioned country where everything is simple again.
Anybody that has had a business where they don't own the building has gone through this, maybe several times. Seems wrong. I've been a small scale landlord and that's got it's own problems too, but to lose an icon of the neighborhood is particularly tragic. Just read recently that 4 or 5 wall street corporations buy 1 in 4 of every home sold in America. It's always about money.
Another Emmy for you guys
Sad…for both side.
not for the auto business the auto industry destroys everything that is good
It’s insane the fact that we have to pay rent in the first place, the country belongs to the people who live there, we should be able to fully own our land without rent or property taxes of any kind especially if it’s to the point where you work hard everyday running a business and you can’t afford to pay the rent. It’s just ridiculous, it’s insanity. It should be where who ever is occupying the land gets it. It should be where anyone can go build a small house where ever they want and the land is there’s as long as they are living there. We are so lost as a society and the government and the extremely wealthy are purposely guiding us in a horrible direction.
Looks like alot of parts and that. Museum quality stuff one wonders. Just a thought.
If he stays does he want 9,000$ in rent for 90 days?
Unfortunate that this is the fate of many small business owners. When will politicians realize that these type of businesses are what keep cities and towns viable and worth living in. You could not pay me to live in this part of Colorado, its just another bland corporate enclave like so many others that have dulled America. Whomever is going to be the next president needs to reign in the banks and make them quit being so overtly profit oriented when it comes to property rentals and ownership.
I agree.
It's pointless to try to make _banks_ (of all business types!?), be anything but profit-driven, though.
It sounds like you're looking for a public utility, rather than a private business enterprise.
It should have been obvious, that bailing out lenders instead of debtors, was a bad idea that promotes oligarchy.
Seems like the system is working great, for the people it's designed for.
Growth and change is WAY WRONG. How about high costs and unlivable times
Very sad another bike shop shut
I COULD NOT AFORD RENT AND WENT TO JAIL MANY TIMES JUST FOR SLEEPING ,SO I LEFT USA AND WENT TO MÉXICO .
I'm so sad for this business. Denver is ruined just like LA.
This bike shop is on the west side…
We call it Saudi Aurora
Where are all the good people in Denver helping? Oh, it is now a city for selfish today.
Picture a ship leaking in a storm, with people on the lower levels working to bail each other out, while people on the upper levels pump water down the stairwells & hike up the price of buckets.
I have lived in Colorado for 45 yrs and cannot wait to leave. The democrats have destroyed a once great state. Really sad.
Congrats to the new landowner taking his business and his future into his own hands.
Tough cuz how he supposed to have good deals + charge 5-10$ profit per part then sell 40 pieces for month
find a storage unit and make an online store
ebay your bikes and parts maybe
Unfortunately the entire bike industry is in a recession. It is very rough times for owners and employees of your LBS. Go and help them if you can
that is because 97%of people who call themselves cyclist drive a car 99.9%of the time I don't own a car so I can claim to be a cyclist since a bicycle is my only mode of tranportating
Bike manufacturers don’t help with pricing bikes out of most people’s reach. All my bikes have been second or third hand. Amazon doesn’t help LBS either as you can get parts cheaper there too. It’s a tough situation all around for LBS.
@@DannyPimienta if I can get a good frame cheap I will build it it will cheaper than buying it complete because I will buy better parts that I will not have to replace for a few years if ever
@@newmobile1455 that’s the route I’m currently on…going to build my own TT bike in the coming year. Picked up a gravel bike on the cheap to learn how to tool around on bikes that I’m currently working on and upgrading
@@DannyPimienta unfortunately things haven't gotten cheaper for bike manufacturers either. It's not like transportation, Manufacturing, labor, and materials have gotten cheaper. Don't get me wrong there is definitely room to bring prices down. I just don't think it's as much as people wish it was
Denver and Colorado are ruined
Boycott the guy’s auto body shop! Ez fix.
Nah, he can't afford to keep his business either; that's why he's trying to buy the land on a short term loan that costs an arm & a leg.
Rapid turnover of corporate-seized land back to debtors & seizing it again, makes it possible to drive up land prices even faster than with -inflation- _profit-taking_ & demand alone.
It's not his fault.
So ghetto LOL (Westwood), but it sucks for the guy has to leave.
In the USA "growth and change" means "if you are European, work and are productive, leave now".
😢
It’s sad to see a local business close. But, this guy has been at that location for 30 years…
At some point he should have made different plans. Plans that dealt with his future. He clearly kicked the can for way to long…
My local bike shop in Fort Collins has been on four different locations over the years. This is normal commercial real estate stuff. Also, the whole bike industry is tanking bad right now.
@@charliedillon1400I agree the E bike industry is biting off the bike industry. My friend owns a small repair shop in NYC and E bikers coming non stop! roadies, fixi bikers seems to be strong but no as strong to keep a business running and no one is coming to buy bikes, only reason he makes money is for service.
A vote for Kamala is a vote for more of this, inflation.
WTF ????? Grow up!!! FFS
I don't care anymore.
Please give your life to Jesus Christ.
Lol wut?
huh???
@@2FUEL Jesus! The risen King.
@@Outrjs ok didn't understand what you meant by pull himself out or pray for Jesus.
@@2FUEL Is Jesus your Lord?
Just the invisible hand naturally evolving things...nothing to see here folks. Now get out of my way, I am conducting business.