Today we’d like to introduce you to Michael Paese.
Alright, so thank you so much for sharing your story and insight with our readers. To kick things off, can you tell us a bit about how you got started?
The business was started in 2000 as a part-time venture on a (somewhat) new thing called the internet. Over the next couple of years, it grew until it became a full-time job with over $5M revenue. In 2005, I moved to our own website and opened a retail store as a way to help our e-commerce operation.
Over the years the storefront has grown, while the e-com side of the business has slowly dwindled as the field became more crowded (and tilted towards the larger players). Today, it’s a reverse e-com that supports our retail business rather than the other way around. The last two years have been our best ever, as the pandemic has been a major boon to the cycling industry.
While that wave has ebbed to a good extent, we’ve been able to continue riding it by focusing on customer service and providing value. We’ve also made a commitment to take at least 10% of what we make and give it back to different community groups.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Smooth? Just like riding a wild bronc! We’ve encountered many, many challenges during the past 20 years. Challenging economic times. Personal health issues. Cash flow issues. A predatory investor. Landlord issues.
But the biggest challenge has been the changing business landscape during that time. I always say that the only constant in business is changing. What works today may not work tomorrow, and almost certainly won’t 5 years from now, so you always have to be looking for how to do things differently and be prepared to re-invent yourself.
We’re on something like our 5th business model in 20 years, and that’s helped us ride out the changes which we’ve had to face and overcome
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
We’re a bike shop on 1604. This is going to sound very cliche, but quite seriously our primary focus is on service and helping people – finding what they’re looking for, taking time to find out what they need, answering their questions, helping them with their problems. Most of all helping them discover the fun and benefits of a healthier lifestyle.
The older I get, the more I realize just how important it is to make a difference in all that you do. No one will remember how much you made, but they do remember and appreciate the little things. Treating everyone like they’re valued. Listening to their concerns. Helping solve their problems. Doing your best to have them leave happy. And most of all, giving back to the community. This is a military town, so we try and honor our veterans.
We give a 10% military discount and have given about $10k this year to veterans groups like Wounded Warrior Project and Operation Comfort, as a part of our commitment to community service. Also, since the pandemic, we have expanded that discount to include first responders and teachers, as they are the ones on the front lines for the rest of us.
What are your plans for the future?
Just trying to navigate the next few years first. Did I mention that the only constant is change? Well, the last 18 months have created a huge set of challenges, from labor shortages to severe supply constraints to rapidly rising prices\costs. These present a lot of pitfalls and maintaining a smooth ride while navigating a bumpy road will be quite a challenge.
Contact Info:
- Email: service@gottaridebikes.com
- Website: www,gottaridebikes.com
- Instagram: https://www.instagram.com/gottaridebikes
- Facebook: https://www.facebook.com/GottaRideBikesSA
- Yelp: https://www.yelp.com/biz/gotta-ride-bikes-san-antonio-2
