How To Turn A Hobby Into A Lucrative Business – Forbes

Pedego Store owner Kathy Puryear and husband Bill enjoy biking together.

Annie Marum

Kathy Puryear, 62, was an elementary school teacher for 30 years. Upon retiring in 2014, she knew she was too young to retire fully and started looking for her second act. She briefly fantasized about becoming a florist at a Safeway but realized she wanted to do something that let her be outside sharing happiness with others. However, what to do?

Kathy decided that the summer of 2014 was the “summer of yes!” On a trip to the central coast of California, Kathy and her husband Bill rented Pedego electric bikes and fell in love with them. They liked the bikes so much that a few weeks later they rented them again at the Pedego Coronado store in San Diego. They bought their first Pedego bikes that summer, and she rode 500 miles in the first few months, in the Scottsdale heat. The experience changed her life. It also motivated her to change other lives with the power of cycling.

So they called Pedego Corp. to see how they could become store owners. In six months, the couple opened Pedego Scottsdale. It was the first Pedego bike store in Arizona.

When Kathy opened her store, she did not have any experience being an entrepreneur, had never worked in any business job, had never worked in the bicycle industry, nor had she worked in retail. Now she was the proud business owner of a new electric bike store in Old Town Scottsdale and was learning how to be an entrepreneur.

 “I could envision that this bike store would be a big hit. We trusted the company to help teach us. Our store relies on renting and bike sales. Also, we had to learn how to run the store, how to market the product, and how to service the customers. We worked 12 hour days, seven days a week. We never hired an employee until after we had been open for two years. This store was never something I would have thought I’d do, but I was constantly learning. That is a great aspect of the job. Another is, I meet people from all over the world who come into our store and rent bikes from us,” relays Kathy.

Flash forward five years and Kathy’s store is one of the top Pedego stores of the 125 stores nationwide. “We have been doing so well and now have one employee. My husband and I do the rest. We are making a living from this store, which adds nicely to my teacher’s pension. And, this job is so much fun! I enjoy everything I do. I love being in charge of my own destiny,” Kathy said.

“Today, we have a strong foundation in the community and have established our name in the area. I have more freedom job-wise now that I the employee who can run the business if I’m not there. I see myself keeping the store as the product’s popularity keeps growing. I love this new career because I’m constantly learning new things. It’s exhilarating educating people about these electric bikes. I help some people overcome some fear, and it’s rewarding. My husband says I can’t make a sale, so I just make a friend, and that has worked for making our store a success.”

Here are Kathy’s tips on transitioning from non-entrepreneur to business owner as a Baby Boomer.

·        Make a difference. At this stage in life, find a career where you can change lives. With Pedego, it is gratifying to enrich people’s lives with fun, exercise, transportation, friendship, and spending time outdoors.

·        Create a community. We bring people together over the love of their Pedego electric bikes. We see couples and families come together with a renewed sense of fun and adventure. We also match customers with each other so they can ride together, and they become friends. People who never would have met otherwise are becoming friends.

·        Make customers friends. Having a consumer-facing business like a retail store, we have made friends with many of our customers. In this time of life, when your connections with the outside world typically shrink, our world has opened up. We now have customers who have become friends with whom we share the love of electric cycling.

·        Listen to your customers. Understand that not every customer is the same. Find out what is important to them, what they need, and why they need it. My education skills have transferred to sales.

·        Have a reliable personal support network. I have support from my husband, who has business experience and comes to help on the weekends. I also have incredible support from my employee, who is an integral part of our success. Realize you cannot do everything alone and choose your team wisely.

·        Take advantage of available support. If you are part of a licensed or franchise chain, take advantage of dealer support available from the parent company. See what’s available on their dealer website. Ask their dealer relations person for best practices, help with issues, marketing ideas, etc.

·        Always be learning. Realize what you don’t know and find out the answers. Don’t be afraid to ask questions. I visit other Pedego stores and network with the Pedego store owners. We share best practices and help each other resolve issues.

As a Baby Boomer, Kathy’s past experience has come together to help her be successful. Her work ethic plus her desire to educate and help others has made this a successful career transition for her.

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Pedego Store owner Kathy Puryear and husband Bill enjoy biking together.

Annie Marum

Kathy Puryear, 62, was an elementary school teacher for 30 years. Upon retiring in 2014, she knew she was too young to retire fully and started looking for her second act. She briefly fantasized about becoming a florist at a Safeway but realized she wanted to do something that let her be outside sharing happiness with others. However, what to do?

Kathy decided that the summer of 2014 was the “summer of yes!” On a trip to the central coast of California, Kathy and her husband Bill rented Pedego electric bikes and fell in love with them. They liked the bikes so much that a few weeks later they rented them again at the Pedego Coronado store in San Diego. They bought their first Pedego bikes that summer, and she rode 500 miles in the first few months, in the Scottsdale heat. The experience changed her life. It also motivated her to change other lives with the power of cycling.

So they called Pedego Corp. to see how they could become store owners. In six months, the couple opened Pedego Scottsdale. It was the first Pedego bike store in Arizona.

When Kathy opened her store, she did not have any experience being an entrepreneur, had never worked in any business job, had never worked in the bicycle industry, nor had she worked in retail. Now she was the proud business owner of a new electric bike store in Old Town Scottsdale and was learning how to be an entrepreneur.

 “I could envision that this bike store would be a big hit. We trusted the company to help teach us. Our store relies on renting and bike sales. Also, we had to learn how to run the store, how to market the product, and how to service the customers. We worked 12 hour days, seven days a week. We never hired an employee until after we had been open for two years. This store was never something I would have thought I’d do, but I was constantly learning. That is a great aspect of the job. Another is, I meet people from all over the world who come into our store and rent bikes from us,” relays Kathy.

Flash forward five years and Kathy’s store is one of the top Pedego stores of the 125 stores nationwide. “We have been doing so well and now have one employee. My husband and I do the rest. We are making a living from this store, which adds nicely to my teacher’s pension. And, this job is so much fun! I enjoy everything I do. I love being in charge of my own destiny,” Kathy said.

“Today, we have a strong foundation in the community and have established our name in the area. I have more freedom job-wise now that I the employee who can run the business if I’m not there. I see myself keeping the store as the product’s popularity keeps growing. I love this new career because I’m constantly learning new things. It’s exhilarating educating people about these electric bikes. I help some people overcome some fear, and it’s rewarding. My husband says I can’t make a sale, so I just make a friend, and that has worked for making our store a success.”

Here are Kathy’s tips on transitioning from non-entrepreneur to business owner as a Baby Boomer.

·        Make a difference. At this stage in life, find a career where you can change lives. With Pedego, it is gratifying to enrich people’s lives with fun, exercise, transportation, friendship, and spending time outdoors.

·        Create a community. We bring people together over the love of their Pedego electric bikes. We see couples and families come together with a renewed sense of fun and adventure. We also match customers with each other so they can ride together, and they become friends. People who never would have met otherwise are becoming friends.

·        Make customers friends. Having a consumer-facing business like a retail store, we have made friends with many of our customers. In this time of life, when your connections with the outside world typically shrink, our world has opened up. We now have customers who have become friends with whom we share the love of electric cycling.

·        Listen to your customers. Understand that not every customer is the same. Find out what is important to them, what they need, and why they need it. My education skills have transferred to sales.

·        Have a reliable personal support network. I have support from my husband, who has business experience and comes to help on the weekends. I also have incredible support from my employee, who is an integral part of our success. Realize you cannot do everything alone and choose your team wisely.

·        Take advantage of available support. If you are part of a licensed or franchise chain, take advantage of dealer support available from the parent company. See what’s available on their dealer website. Ask their dealer relations person for best practices, help with issues, marketing ideas, etc.

·        Always be learning. Realize what you don’t know and find out the answers. Don’t be afraid to ask questions. I visit other Pedego stores and network with the Pedego store owners. We share best practices and help each other resolve issues.

As a Baby Boomer, Kathy’s past experience has come together to help her be successful. Her work ethic plus her desire to educate and help others has made this a successful career transition for her.