As the world gets more complicated, there is a desire to cling onto something very simple, something very basic. It could be something from one’s childhood or an activity that makes you think of the simpler times devoid of the pressures of today. Cycling is an activity that brings back memories of going down narrow lanes or pedalling fast so as to not miss that important lecture on developmental economics. However, like everything in life that evolves over time, the simple cycle has evolved into a sophisticated vehicle with gears and can traverse distances in increasingly shorter durations.
The business of cycles is a very personal one. It is not unusual for a business entity to be involved in it for generations. It is not a business anymore but a calling. Hede’s is a family business that has provided much joy to the children in the South for well over 70 years. And now the third generation is making a rather distinct mark on the business.
AkshayHede is providing his touch to a business that started in 1936. He entered the family business a year ago after graduating in hotel management and working in five-star properties. The shift he felt was not much given that he had responsibilities whilst an employee and now he was in charge of a profit centre so to speak. The bit he liked the most of both the industries was the importance of giving excellent customer service, which he learnt being in the hospitality industry. At the store, he speaks with his customers, understands their requirements and then provides them with models of bikes that could suit their requirements. The business he said had evolved from the time when it all started with his grandfather importing cycles from England, pick it up at the port in Vasco, assemble it and sell it.
Earlier kids would start with cycles and graduate to motorcycles but now with the increase in the cost of fuel, cycles, he said were coming back in fashion. People he said were now interested in buying premium brands like Fuji, Focus etc. Regular folks he said would purchase cycles but now even those who travelled around in BMW’s and Mercedes Benz were interested in buying expensive cycles.
May be for status he added but then Akshay said “The whole experience changes when you sit on one of those bikes , where you are putting in less effort but travelling much more distances. The premium brands I refer to are the road bikes and if I were to categorise the cycle market in the State it would be 60% Mountain Terrain Bikes (MTB), 30% hybrids and 10% road bikes.”
The cost of a road bike can vary and the cheapest one he retails at Rs 26,100 and then it can increase to Rs 14 lakh. He has a bike that retails at Rs 9.5 lakh which is a Canadian brand. Each and every brand, he said had their strengths. With regards to Indian brands he felt since they all built in great numbers and everything is manufactured in the factory. This was not the case with international brands with the handle bar, chain, brakes being outsourced from external bodies. This also meant they would be the best at their work which would mean the final product would be very good. A start however had been made with Hero opening up a factory in Sri Lanka making a brand called Hero Sprint Pro which is using a bit of foreign components in its body. It was, he said, a slow and steady procedure.
Asked how big the Goan market was he said it was picking up and every month all the dealers in the State were selling approximately 750 cycles across the three categories. The North and the South were worlds apart and, in the South, the group called Xaxti Riders were promoting cycling very aggressively and many members commute to work on cycles. Many of the members are surgeons, lawyers etc and when the people see them cycling around, it motivates them to do it, Akshay said.
Cycles rides were also organised and Akshay had taken the initiative. Rides would commence at 6.30 am and end by 9-9.30. They cover around 35 kilometres. In the south the MTB are usually purchased by kids, students, hybrids and road bikes cost around Rs 25,000 and above and these are purchased by doctors, lawyers, entrepreneurs, surgeons. Hybrids are easy road bikes and a person who is a cycle enthusiast will only buy a road bike. With regards to the future of cycling he felt the increasing price of fuel would help increase demand.
Plans are afoot to tie up with HDFC and help interested customers with finance options whilst buying a bike. To grow the business, he intends to set up service stations and even expand to another city in Goa and he is targeting Porvorim to set up outlet.
The business in the future will become more competitive as the market opens up and more people become open to buying such cycles but he intends to be more than ready to give them that first rate customer service.
