Caster’s riding cycle of success

CHAIN OF COMMAND: Caster's Bicycles and Fitness owner Reed Caster, center, is the third-generation owner of the shop. He's pictured above with salesperson John Schmidt, left, and mechanic James Groh. / PBN PHOTO/RUPERT WHITELEY
CHAIN OF COMMAND: Caster's Bicycles and Fitness owner Reed Caster, center, is the third-generation owner of the shop. He's pictured above with salesperson John Schmidt, left, and mechanic James Groh. / PBN PHOTO/RUPERT WHITELEY

Caster, the owner, is proud about the history of the shop. And why not? The business was started by his grandfather, who at first sold Henderson, Excelsior and Indian motorcycles and Schwinn and Raleigh bicycles.
“In 1919, the store was on Broad Street in Providence. This was when downtown Providence was the commercial-retail district in the state,” he said. The store stayed at that location for the better part of 40 years, but by the 1950s his father, Ken, ran the company and could see the spread of suburbia radiating out of the city.
“That was at about the time the Midland (now Rhode Island) Mall was built,” said Reed Caster. In 1965, his father decided to move to Warwick, where he built his own store, then later moved to a different Warwick location in 1975.
In 1981, Caster’s father died unexpectedly of a heart attack at the age of 58, leaving the son, who was graduating the University of Rhode Island, to tend to the shop with his mother and sister. By 1990, he purchased it outright.
After spending 46 years in Warwick, the company’s return to its roots in Providence began just recently, when Trek Bicycle Corp., of Waterloo, Wis., was looking for a presence in Providence.
“My wife and I … talked about having another location in the past. We thought about Providence for a while before we decided to toss our hat in the ring,” Caster said. He also believes the location on the upper East Side of Providence is an advantage, although he didn’t think that at first.
“It was 2009-2010 and people thought it was a gutsy move, opening a second store in a difficult economy. At the time, Rhode Island was vying with Michigan for the highest unemployment rate in the country. We not only survived but saw an increase in business because of the store’s location,” he said.
“We have extended our reach. We now draw people out of Swansea, Seekonk, North Providence, Pawtucket, Lincoln and Smithfield. Now when people look to see our location they realize it’s much closer than Warwick,” Caster said. The Providence location also provides much-needed space for display and storage, an additional 5,000 square feet. It’s located just off the main street and has plenty of available parking. “You have to remember that people will be bringing their bikes, so the parking and drop-off have to be convenient,” he said. “What you need in the business is square footage and plenty of parking, and we have both of that on Fourth Street.”
His first full year in Providence was 2011, and this year he is on a pace for a better year. “It was slow from January to April but May, June and July have seen an uptick in business,” he said. “Those people who have money and are secure in their jobs are spending money; those less secure in their jobs are holding back.”
“I think once we get beyond this election cycle and there’s a little more predictability, I think that things bode well economically and I think the floodgates will open,” Caster said. He is hoping the election will free up some money for the general public to spend – disposable income.
The stores offer several full lines of bicycles and accessories, and the website includes a full directory of bicycling groups and gatherings, classes and rentals. Accessories include a full line of sportswear, as well as equipment and car racks.
With only two years at the Providence location, Caster has no plans to expand, focusing instead on the industry.
“What every business is looking for is the next wave in enthusiasm. If it’s bicycles, then is there something new that can drive business to your door?” he said.
He cited the 3-speed bike, then the 10-speed, mountain and hybrid bikes as different surges in growth. He believes the next big wave will be rooted in bicycle advocacy, getting the average citizen out on their bike, using it for transportation, instead of just recreation.
“As we gain more bikeways and people become more aware that cyclists want to share the road, then people start using their bikes for different functions, like going to the store a mile down the road,” Caster said.
“Bicycle riding isn’t just about banging out a 40-mile ride, it’s about getting out your bike, rolling out your door and going someplace,” he said. •

COMPANY PROFILE
Caster’s Bicycles and Fitness
OWNER: Reed Caster
TYPE OF BUSINESS: Bicycle sale and ?service
LOCATION: 3480 Post Road, Warwick; ?212 Fourth St., Providence
EMPLOYEES: 15
YEAR ESTABLISHED: 1919
ANNUAL SALES: WND

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