Bikenetic Bike Shop
Jan Feuchtner first contacted the South Fairfax SBDC because, as a minority partner in a bike shop, he wanted to buy out the majority partner and take the shop in a different direction – a direction Jan knew was much better, more sustainable, profitable, and enjoyable. Jan came to the SBDC with a business plan and the business’s current financials. He needed advice regarding the buy out.
He met with several counselors, including an attorney, a CPA, and a business counselor. They advised him against buying out his partner due to the indebtedness of that business and instead to open his own shop, starting with a clean slate. The SBDC’s attorney counselor helped Jan create a strong financial plan, ultimately helping him decide not to take out a $50,000 loan and instead to rely on existing relationships with his vendors to provide his new business with interest free, individual lines of credit.
Jan opened Bikenetic Bike Shop in Falls Church, VA in November, 2011, just in time for the Christmas season. His shop has grown beyond business plan expectations ever since. Jan is working full-time in the shop, and in 2012 he hired three more people to help him run his expanding business