Statement on Shop Closure

SALE THIS FRIDAY AND SATURDAY

Robert Fullem, founder and owner of Albany’s Downtube Bicycle Works, announced the store’s closing. “It’s bittersweet, but it’s time,” Fullem said. “I’ll be 80 this year, we spend time in Tucson, where we have both a home and a 2-year-old granddaughter, and I’m involved in other activities.” And he still tries to ride three thousand miles a year.

“It’s been quite a ride,” Fullem said. “The past 52 years have had their usual business ups and downs, including our 2015 disastrous building fire that took a year to rebuild.” The Downtube would not have survived all these years without all of the dedicated, competent staff who made it successful all these years.” But there’s sadness, too. “I’m sorry to say goodbye to so many loyal customers who relied on us for advice, service, and product over the last decades. I feel I need to apologize for closing.”

Ironically, the Downtube is closing after a wildly successful 2023. Cycling was immensely popular during COVID, and stores across the country had record years. Sales generally fell precipitously post-COVID - but the Downtube’s 2023 sales were within 2% of its COVID sales peaks and its 2023 gross profit margin increased over 1%. In contrast, according to BRAIN (Bicycle Retailer and Industry News) and other industry statistics, bike stores in 2023 generally were down 20-40% from the covid years and dealers’ gross profit margins plummeted as both dealers and suppliers were awash in post-COVID inventory.

Fullem had planned on selling the business but needed to wait for the completed 2023 tax records to document the year’s success. He scheduled April ad placements in industry publications - but he realized the fully renovated building with its luxury apartments and café space was worth much more than the business. It would be better to sell the building than give a long-term lease to a new bike store owner. So Fullem returned from Tucson last week to close the store.

He's anxious to get back to Tucson, though, so the closing sale will be this Friday and Saturday, March 8 and 9. Everything must go and will be priced accordingly, items at or below cost. The store will close for good by the end of the month.

Fullem was a recreational cyclist and state employee in psychometrics and computer systems analysis when the early 70’s bike boom arrived.  “It sounds corny I know, but I started the store because I wanted to share my love of cycling, and the few bike stores that existed focused on kids’ bikes and so-called English racers, just 3-speed bikes. I focused on the new 10-speed revolution.”

“In 1972, we wrote letters in Italian to suppliers in Italy, placed a Yellow Pages display advertisement, and sold bikes by appointment only in my 2-room Lancaster Street apartment. I moved it to a friend’s attic on Morris Street before opening my first storefront on Central Avenue.” In 1980 Fullem bought the current Madison Avenue location.     

Fullem then finally quit his state employment and started working at Downtube full-time.  “My parents worried about my giving up secure state employment, health insurance and a future pension.”   He grew the business, working six and a half days a week most seasons until about 1993 when he decided he needed a sabbatical.  “I’d gone to Albany State (now UAlbany) in the 60’s and spent more time engaged in civil rights than on my studies. I wanted to try academia again.”  In 1995 Fullem enrolled at Cornell Law school as the oldest member of the class.  

Downtube’s 80’s and early 90’s were fantastic bike years.  It was named one of the country’s ‘Top 100 Bike Stores’ in 1987 by Bicycle Dealer Showcase, then the industry’s major publication;  ‘Dealer of the Year’ in 1981 by a leading bike brand, and it was a frequent Metroland Magazine readers’ selection as ‘Area’s Best Bicycle Shop.’ “We focused on new and average cyclists, people wanting good value for a fair price, and help in getting started in cycling.”  The Downtube also dabbled in the racing scene, including bringing a women’s team to a 10-day Idaho stage race, competing against the reigning world champion and other elite women racers.  And Fullem still has the bike fitting measurements he did for Bob ‘Bobke’ Roll, a frequent Tour de France team rider.