1. Decide what type of bike shop you want to open
2. Research the local market and customer needs
3. Create a business plan
4. Obtain funding for starting up your bike shop
5. Choose a location for the bike shop
6. Buy the necessary inventory for the bike shop
7. Hire knowledgeable staff for your bike shop
8. Promote and market your bike shop
9. Set up an online presence for your bike shop
10. Track sales, expenses and profits of the business