6 Bike Lock Business Success Stories [2024]

Pat Walls

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Updated: December 1st, 2023

Start A Bike Lock Business

Bike locks that are uncuttable, user-friendly, and suitable for both urban commuters and performance cyclists is a top priority for those looking to protect their investment against relentless theft attempts.

One way to achieve this is by patenting and engineering lightweight alloy or composite shells that are resistant to all bolt cutters. These locks can feature keyless opening mechanisms such as fingerprint, Bluetooth, or sequence locking for U-bars, chains, and rear wheel/frame attachments.

To market these locks, it’s best to target local bike shops, sports stores, and mass retailers and focus on the product’s durability, flexible fit for all bike types, and reliability features such as weatherproofing, reflectivity, and scratch protection.

By offering subscription plans for continual model upgrades every season, bundled with discounts that include transit passes, rideshare credits, and bike protection/recovery services, you can build customer loyalty.

If your locks can withstand over 15 minutes of power tool and pick attacks earning "uncuttable" status in viral videos, demand, and branding will shift the consumer paradigm toward ultra-secure bike protection.

Here are some real life success stories of starting a bike lock business:

Learn more about starting a bike lock business:

Where to start?

-> How much does it cost to start a bike lock business?
-> Pros and cons of a bike lock business

Need inspiration?

-> Examples of established bike lock business
-> Marketing ideas for a bike lock business

Other resources

Part of

Starting A Bike Lock Business: Everything You Need To Know

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1. SEATYLOCK ($3M/year)

Michael Shenkerman, Co-Founder and CEO of Seatylock, came up with the idea for his business after being approached by two young entrepreneurs with the concept for a hybrid product combining a bicycle seat and a lock. With his expertise in manufacturing and importing from China, Shenkerman saw the potential in the idea and decided to turn it into a reality. He launched their first product, the Foldylock Classic, via Kickstarter and raised $44,000, followed by the Seatylock, which raised $137,000 and received significant media attention. Today, Seatylock is a global company generating around $120,000 in monthly sales.

How much they make: $3M/year
How much did it cost to start: $3M
Current team size: 22

How I Started An Innovative Bike Lock Generating Over $1M/Year

Israeli entrepreneur Michael Shenkerman co-founded Seatylock, developing and manufacturing innovative high-end bike locks including its first-ever product, a hybrid bicycle seat and lock combination that raised $44,000 in a successful Kickstarter campaign in 2013, with sales growing steadily each year to around $120,000 a month today.

About

Michael started SEATYLOCK over 12 years ago

Revenue

Michael grew the business to $250K/month

Costs

It cost Michael $3000000 to start the business

Read this case study

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