7 Bicycle Company Success Stories [2023]
A surge in exercise and heightened anxiety over public transportation during the Covid-19 pandemic are reasons more people have embraced biking.
Apart from being a form of exercise, using bicycles is also good for the environment as there are no emissions.
Therefore, starting a bicycle company can be a profitable venture. Research the market and choose a niche. Then, register your brand and focus on the production of high-quality bicycles.
Here are some real life success stories of starting a bicycle company:
1. State Bicycle Co. ($12M/year)
Mehdi Farsi and his brother Reza noticed a gap in the market for affordable and attractive complete bicycles. With their background in cycling and business, they decided to start State Bicycle Co. in 2009. Since then, the company has grown to over $50 million in annual sales and has become a trusted and well-known brand in the industry through strategies such as sponsoring talented riders and building a strong social media presence.
How much they make: $12M/year
How much did it cost to start: $30K
Current team size: 15
"Co-founders of State Bicycle Co. reveal how they bootstrapped their company to over $50M in annual sales and produced over 100,000 bikes by creating a trusted brand through word-of-mouth and social media, sponsoring talented riders, limited-edition releases, and focusing on product quality."
2. Santafixie ($3.6M/year)
Xavi Claveria came up with the idea for Santafixie.com after falling in love with fixed gear bikes while living in London. He saw an opportunity to bring stylish and high-quality urban bicycles to Barcelona, where people were still using old, uncomfortable mountain bikes for commuting. With a loan and eventually investment from Axon Partners Group, Santafixie grew into a successful e-commerce platform with its own brand of bicycles and components, generating a monthly turnover of €200,000. Xavi credits the growth to a focus on SEO, brand awareness, content creation, and influencer collaborations.
How much they make: $3.6M/year
Current team size: 20
How Santafixie became a successful fixed-gear bike business with a monthly turnover of €200,000 and its own product line, while focusing on SEO, brand awareness, and reducing marketing costs.
So... can you actually make money with a bicycle company?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. Sole Bicycles ($3M/year)
Jonathan Shriftman, the co-founder of Solé Bicycles, came up with the idea for his business in 2009 when he realized that buying a fixed gear bicycle was expensive and time-consuming. He decided to go straight to the source and connect with bicycle factories globally to create a more affordable and accessible product. Since then, Solé Bicycles has generated over $10M in sales, sold over 40,000 bicycles, and gained notable collaborations with brands like Rag & Bone and Beats by Dre.
How much they make: $3M/year
Current team size: 14
Solé Bicycles is a direct-to-consumer, lifestyle brand that has sold over 40,000 bicycles, generating over $10M in sales with only $300k of capital raised through collaborations, word-of-mouth marketing, and local community engagement.
4. Smoove ($300K/year)
Ruan Deyzel, founder of SMOOVE Chain Lube, came up with the idea for his business through his passion for cycling and his frustration with the available chain lubricants on the market. He saw a gap in the market for a product that could both clean the chain and provide durability, and through extensive testing and feedback, he developed a high-performance chain lube that addressed these issues. With a focus on quality and a well-executed online presence, SMOOVE has experienced impressive growth, with a 60% year-on-year increase in revenue.
How much they make: $300K/year
Current team size: 5
How Ruan Deyzel started a 300k/year business in the South African cycling industry by developing, manufacturing, and selling an innovative bike chain lube that solves a common problem, growing 60% year on year, and exporting to 15 countries.
So... can you actually make money with a bicycle company?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
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