How do I price-tag and count my bike shop’s used bike inventory for a buyer?

Begin with a consistent system. Each bike needs a unique tag or number tied to a record: where it came from, the date it arrived, parts and labour added, and the asking price on the floor. Group them by condition so it is obvious which are ready to sell, which need work and which are best stripped for parts. Record what you paid or credited for each, not what you hope to get.

Then count. Choose a quiet day, count everything including the back room and any off-site storage, and invite the buyer or their representative to watch or check a sample. Reconcile the physical count against your inventory records and be ready to explain every difference. Keep separate lists for consignment bikes, customer bikes in for service and items that belong to someone else.

Finally, be honest about slow movers. A bike that has sat on the floor for a long time may need to be reduced before the buyer sees the stock. Your accountant can tell you how the inventory should be valued in the books and how a buyer will likely treat it. Agree on the method before the count, not after.

Key takeaways

• Tag each bike with condition, source, costs added and floor price.
• Count with the buyer present and keep consignment and customer bikes separate.
• Agree how the inventory will be valued before the count begins.