Richardson Bike Mart Expands by Embracing the Future

In 1962 Mike Hall opened several ‘Mike Hall Bike Marts, in the Dallas area. In 1980, Schwinn representative Jim Hoyt bought the Richardson store, receiving permission from Hall to retain “Bike Mart” in its name. Thus was born Richardson Bike Mart (RBM). Since then, Mike Hall Bike Mart has gone out of business, while RBM has expanded. In 2012 RMB began to switch hands when Woody Smith started a buyout from Jim Hoyt. Today, Smith is the President and Owner of Richardson Bike Mart, which employs over 100 people, ages 16 to 70.

Smith says bicycle retailers were among the last to remain anti-online. RBM, however, has embraced the internet, which constitutes about 2% of sales, where as it is only 0.5-1% of sales for most bicycle retailers. RBM will sell anything on the website, but it will not ship everything. Smith says customers need to see the colors, touch and feel the bike, and practice riding it. In other words, “You need to try a bike on, and we are the tailor.”

RBM believes in “high-tech bikes and old-fashioned service,” and still relies on word-of-mouth and community involvement. However, Smith says it’s website receives 4,500-to-5,000 hits per week. RBM provides customers with an e-club and an e-class, and 85-percent of RBM customers provide online information to get the company newsletter. That is 42,000 organic email customers.

RBM has also embraced technology by using A/V monitors throughout it’s stores to keep customers up-to-date on the latest products and technology.

I’m a continuous improvement person. All the staff knows I’m approachable.” Smith said.

He keeps up-to-date by listening to customers and employees, and by going to seminars to keep up with the latest in the industry.

I’m happy, but never satisfied. I want to go from good to great,” Smith said.

This attitude led RBM to provide a mobile shop that brings it’s services to customers who are unable to bring in bikes. Smith also plans to build another brick-and-mortar store in McKinney by the end of May 2018. RBM has had a long history in the Dallas area, and its continued growth shows that it will continue to have a strong future.

Follow us on social media for the latest updates in B2B!



Addressing the Complexities and Opportunities of the Inflation Reduction Act (IRA)
June 19, 2024

As the energy sector navigates the first year of the Inflation Reduction Act (IRA), stakeholders are grappling with evolving guidance and incentives. This pivotal legislation aims to accelerate the energy transition, but with its intricate provisions and requirements, many questions remain. Understanding the IRA’s impact is crucial for developers, investors, and policy-makers striving to…

Read More
Inflation Reduction Act Can Impact Company Investments
June 19, 2024

Recent months have shown that the Inflation Reduction Act (IRA) is a hot topic in the energy industry, sparking extensive discussions about its implications and opportunities. As businesses and organizations seek to join the renewable energy movement, understanding the nuances of the IRA is crucial.  A recent study highlighted that renewable energy investments are…

Read More
Matt Kaden, Managing Director at Moss Adams talks IRA
Inflation Reduction Act (IRA) is Helping Push a New Era for Renewable Energy
June 19, 2024

The Inflation Reduction Act (IRA) is making some big waves in the energy sector, aiming to transition from fossil fuels to renewable energy. As inflation concerns and geopolitical tensions rise, the IRA promises to reshape the energy landscape in the United States. With substantial incentives for clean energy technologies, the stakes are high for…

Read More
executive presence
Rob Salafia on the Role of Executive Presence and Storytelling to Boost Leadership Impact
June 19, 2024

As the healthcare industry navigates unprecedented challenges and transformations, the demand for authentic and effective leadership has never been higher. Leaders are grappling with the need to foster trust, drive innovation, and maintain morale in an environment marked by rapid change and high stakes. Research from Harvard Business Review indicates that authentic leadership not…

Read More