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"People come in with trade-ins because they don't want to pay retail [for a new bike]," says owner Rich Staley, 36. "They get a discount when they bring their old bike to trade in, and we get more people in the shop."
"Trade-ins foster loyalty, especially if you're doing it in an industry where no one else is," says Kevin Eikenberry, owner of The Kevin Eikenberry Group, a customer-service consulting firm in Indianapolis. He says trade-ins work for almost any kind of company and can build your business in several ways, including:
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