Zach Hepner, who owns the Englewood bike shop Velosoul Cyclery, will close it when the business’ lease ends. (Max Scheinblum/BusinessDen)
Between rising prices and corporate takeovers, Zach Hepner knew his time owning a bike shop was up.
“Our industry is kind of cannibalizing itself,” the owner of Velosoul Cyclery said.
His shop at 3751 S. Broadway in Englewood will close at the end of January when its lease expires. Bikes at Velosoul are up to 40 percent off until then.
“We’re in a situation where there’s this corporate takeover that’s making it really hard for smaller local businesses,” he said.
Bike retailers such as Trek, Specialized and Giant are buying up local shops and turning them into what are essentially showrooms, Hepner said. They offer “predatory incentives,” he said, for displaying only their product, which undercuts smaller brands and owners.
“There was a saying in our industry that if you wanna make a million dollars, you’d have to spend two million,” Hepner said. “Now that’s more like five.”
This is on top of rising prices for “everything else.” He referenced his liability insurance, which has quadrupled since early 2020, and dwindling margins on repair parts. Since a pandemic boom in outdoor recreation in 2020, when Velosoul had its biggest revenue year, he said the industry has been “severely insolvent” because of the increased costs.
The customer base has been a pain point as well.
Hepner also said people often come into his shop and hand him their phones to ask if he can find them a part on an online retailer like Amazon. During peak summer season, he said this would happen at least three times a week, and sometimes three times a day. This has been happening since 2022, he said.
“You don’t go into a grocery store and ask for discounts,” he said.
Hepner said he’s also looking forward to not having to deal with “prostitutes coming in and homeless people asking for bike parts.”
“I wish I could’ve left two years ago,” he said, explaining he couldn’t because of the lease.
He is happy to be going out on his own accord.
“I’m not being forced out,” he said. “I made my own decision.”
Five years ago, Hepner said he “absolutely” would’ve recommended being a bike shop owner. But now?
“Absolutely not,” he said.
Velosoul moved from West Wash Park to Englewood about five years ago. (Max Scheinblum/BusinessDen)
Hepner has worked on bikes for over 20 years at local shops in Denver. Thirteen years ago, Velosoul went up for sale, and he pounced. He moved the business from Denver’s West Wash Park to Englewood about five years ago.
“It’s been a lot of fun for the most part, he said. “But recently the stress has been absurd.”
His love for biking was sparked at 17 after an accident playing lacrosse. Two wheels and a seat was a low-impact way to build back up.
“I blew my knee out, and my doctor said to ride a bike. And I said ‘What am I, a child?’” he said.
But his recovery became a passion and eventual career. Soon after his doctor’s request, he bought a bike at a garage sale. Something was wrong with the chain, though, and Hepner had to bring it into a shop.
“They did a terrible job,” he said. “So that night, I became a bike mechanic.”
He said helping people get their strength back, much like himself, or to lose weight are among the things he’s been most proud of.
Hepner will still be in the cycling industry, working as a sales rep for a bike brand he declined to disclose. He’ll also be a rep for a fly fishing company, as well as be a fly fishing guide. He looks forward to spending more time with his family too.
“I’m gonna keep butts on bikes and help put people on big fish,” he said. “If you teach a kid how to love biking and fly fishing, they’ll never have the money for drugs.”
