Answering the question on the minds of all bike retailers, Dan Mann of The Mann Group will lead a panel outlining the keys to driving store profits at the 2013 IBD Summit, April 16-18 in Monterey, California. The two-day event is the educational showcase of Interbike, the bike industry’s signature trade event held every September.
The discussion on Thursday, April 18 from 9:00 to 10:15 a.m. is sponsored by the National Bike Dealers Association’s Profitability Project, known as the P2 Group.
“Profitability is the driving force for all bike retailers,” says Mann, who administers all of the P2 programs throughout North America. “With this panel, we’ve assembled some of the best strategic thinkers in the business to share what they’ve learned. Participants will leave with practical ideas to apply to their own businesses.” The P2 Group’s panel discussion was the best-attended session at the 2012 IBD Summit.
Three metrics—gross profit per full-time employee, inventory turn by category and gross margin—are at the center of discussion. In addition to Dan Mann, the panel includes Chris Kegel of Wheel and Sproket, Mike Hamannwright of Revolution Cycles, Charlie McCorkell of Bicycle Habitat and Chris Holmes of Bicycle World of Houston, among the most successful bike retailers in the US.
“My involvement in the P2 Group has completely changed the way I think and operate my business,” said Chris Holmes of Bicycle World of Houston. “Over the last 12 months I’ve seen dramatic positive changes in revenue, profit and the overall health of my business – and I think IBDs across the country won’t find a better opportunity to gather real-time information, specifically from the bicycle industry than during this panel at the IBD Summit.”
