5 Bike Accessories Business Success Stories [2023]
Here are some real life success stories of starting a bike accessories business:
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. Yuba Cargo Bikes ($12M/year)
Ben Sarrazin, Founder and CEO of the Yuba Group, came up with the idea for his load-carrying bicycle business after witnessing how bikes could improve the lives of small businesses and families in remote areas. Despite having little money and no industry experience, Sarrazin invested everything he had into Yuba Bicycles and has since built a $15M company that has put over 50,000 cargo bicycles on the road.
How much they make: $12M/year
How much did it cost to start: $6K
Current team size: 30
Yuba Group has pioneered the field of an entirely new segment in the cargo bicycle industry, with a 15-year-old company that has put over 50,000 cargo bicycles on the road, becoming a $15M company.
So... can you actually make money with a bike accessories business?
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 doesnβt.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. ESKUTE ($3.36M/year)
Alan Chen, founder of ESKUTE electric bike, came up with the idea during the COVID-19 pandemic when the demand for electric bikes soared. With a background in the electric bike battery field, Chen saw an opportunity to provide a safe and eco-friendly transportation method and started planning the project. Despite facing challenges and making mistakes along the way, ESKUTE has become profitable, with plans to expand production and open new stores across Europe.
How much they make: $3.36M/year
How much did it cost to start: $25K
Current team size: 60
ESKUTE started a successful electric bike brand during the pandemic, with a team of nearly 30 staff members, and now makes $280k per month with sales across Europe.
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