Growing bicycle supplier has staying power

GARY Truman opened Henley Cycles in Duke Street in 2019. He is married, and he has three children.

Describe your business

We sell all types of bicycles, accessories and clothing and also service and hire bicycles for those who need them.

How many people does it employ?

We have three people who run the shop and service the bikes and I have a close friend who can help out in peak times when we are super busy.

What did you do before you started this business?

I had a digital media business that sold advertising on screens in bars across the UK. Previous to that business I was a finance director for several companies.

When did you start your business?

We started Henley Cycles in 2019, initially in 16 Duke Street. We were very fortunate to experience growth in the following few years and so we expanded into 18 Duke Street, the shop next door, in 2021.

What was your objective?

We wanted to provide a bicycle shop to people in Henley which sold all types of bicycles, from children’s to hybrid, road to electric bikes.

Who or what influenced you to set up your own business?

I have always been a keen cyclist who likes challenges as well as having previous companies. I was persuaded to invest in starting the business as owner and I have never looked back.

Do you have a mentor or role model?

No one specific but I have had advice from several successful individuals over the years, one of whom lives in Henley.

What would you do differently if you were starting again?

I would have chosen a larger shop as we soon found out that we didn’t have enough space to store customer bikes that were being serviced. However, there are limited large shops in Henley.

How is your business doing compared with last year?

We are very lucky in that we are up on last year, which was a difficult year to be honest. I have to thank our customers for their support as there have been some casualties in the bike industry.

Do you compare on a regular basis?

We compare sales on a monthly basis and annual basis.

How do you market your business?

We market our business via our website, social media pages and Google reviews and word of mouth from our customers. We add value by providing the best service we can.

What’s the best thing about running your own business?

Interacting with customers, from ordering bicycles to servicing them.

What’s the most challenging aspect? It can be very hard to predict sales on a weekly basis as they can be affected by weather and things like road works. Road works have caused a considerable disruption to many businesses in the centre of the town. They need to be planned much better, with the work done at night.

Where is your business headed?

We hope to continue providing bicycles and services for as long as possible.

How important are online sales?

We don’t do as much online sales as we should do, despite having a website. It’s something that we are targeting to improve next year.

Are you using generative AI to shape your business?

Not at the moment, although we are looking into AI and how it can help the business.

Do you have a work-life balance?

Yes, I have a great team that can cover the shop when I am on holiday or away at events.

Do you set any goals at the start of a new financial year?

We tend to review last year’s trading to see what we can do better.

What’s the most valuable thing you’ve learned?

To ensure you pay attention to your customers and make them feel that they have had the best experience possible when they are in our shop.

What advice would you offer to anybody starting a business?

To produce a budget or forecast for the business and be prepared to not meet it. Be determined and work as hard as possible. It’s a big step but it is very worthwhile.

What’s the biggest mistake you’ve made?

Putting road bikes in the shop window when we first opened, people thought we were a high-end road bike shop and stayed away.

How organised are you?

Fairly organised.

What are you most looking forward to in 2026?

Continuing to sell bicycles and also a cycling trip in April with GS Henley to Majorca.

How are you planning for retirement?

I’m not at the moment, I’m enjoying working.

What’s the secret of your success?

Providing the best service.

What three qualities do you think are most important?

Being proactive, prepared to make mistakes and learn from them and to listen to your customers and suppliers.

How do you dress for work each day and is it important?

I wear casual clothing that’s hard wearing to cope with working on bicycles.

What can’t you do without every day?

Definitely a coffee and a cake (seems to be the norm for us cyclists) and my glasses.

Lunch at your desk or going out?

Eating at the desk most of the time or outside the back of the shop when the weather is nice.

Do you continue to study?

I’m always keeping up with the latest bike and product releases in the industry.

What do you read?

I like thrillers or action books as well as autobiographies by the famous cyclists.

What change would you most like to see in 2026?

Reinstatement of the business rates relief for shops by the government, dropping it from 75 per cent to
40 per cent this year was a mistake in my view. It should support local businesses.

Interview by Will Hamilton,
intermediary and global

marketing consultant, Hamilton Associates