An electric bike has an electric motor to assist the rider while pedaling. Market data shows that the annual Ebike sales crossed more than 880,000 Ebikes.
Besides providing benefits for body health and fitness, e-bikes have become the best for reducing urban traffic, especially in cities where it isn’t an effective public transportation business.
Ebikes market demand is higher among millennials who prefer riding for health benefits and because riding Ebikes enables them flexibility in choosing routes.
Therefore, starting an Ebikes business in 2023 can be a great business decision.
Here are some real life success stories of starting a eBikes business:
1. Tower Electric Bikes ($3.6M/year)
Stephan Aarstol (from San Diego, California, USA) started Tower Electric Bikes over 13 years ago.
Hello! My name is Stephan Aarstol. I'm the CEO of Tower Electric Bikes.
In October of 2019, Tower was named one of the "Top 20 Shark Tank Products of All Time" in USA Today. We've done over $36 million in sales since getting a $150,000 investment from Mark Cuban in 2012.
2. tutiendaenergetica.es ($1.32M/year)
Borja Eraso (from Pamplona, Navarre, Spain) started tutiendaenergetica.es almost 14 years ago.
My name is Borja. I am a 36-year-old father-of-three from Spain that runs a retail business called tutiendaenergetica.es (it translates as “yourenergyshop” in Spanish). We have a shop in Pamplona - yes, that’s where the Running of the Bulls happens! - and an ecommerce site aimed at the Spanish market. We sell - mainly to end users - 2 types of “green tech” products, as I call them:
Since we started using our sales/invoicing program in late 2015 we have built a database of +7000 clients - unfortunately, we didn’t keep a proper record of our clients for the first few years. Year to date (Jan-Aug) we have already made as much revenue as in 2018 Full Year. We are pushing to achieve 900k USD this year but, if we manage to capitalize on the Xmas period (which we have never been too good at) and some new e-mobility formats we’ll present in the next we next few days, I think we have a fair chance to reach 1M USD in 2019. That would be an awesome milestone to celebrate!
Learn more about starting an eBikes business:
Where to start?
4. Bolton Ebikes ($4.2M/year)
Kyle Chittock (from Grass Valley, CA) started Bolton Ebikes about 8 years ago.
I’m Kyle Chittock, the owner of Bolton Ebikes. I sell electric bicycles and upgrade components for competing brands. Ebikes are a ton of fun. We’re putting people back on bicycles that haven’t ridden in years, sometimes decades! Yes, they can be used for commuting, saving money vs driving, but the fun is the number one reason people buy electric bikes. If you’re considering an ebike, I’d check this out, it has a lot of views, so that must be good:
I started the business for fun, but I literally can’t stop the growth. We’ve grown about 500% year over year, all without any paid advertising. (Youtube is awesome by the way.) It’s been a fun ride and isn’t done yet!
5. Yuba Cargo Bikes ($12M/year)
Ben Sarrazin (from San Juan Capistrano, CA, USA) started Yuba Cargo Bikes over 16 years ago.
Ben Sarrazin, Founder, and CEO of the Yuba Group, designer, creator, distributor of load-carrying bicycles (bikes to carry things, passengers, sports equipment, tools, pets).
Over the past 15 years, Yuba has put over 50,000 cargo bicycles on the road. That is a lot of happy families.
6. ESKUTE ($3.36M/year)
Alan Chen (from Birmingham ) started ESKUTE over 2 years ago.
I’m Alan Chen. We founded ESKUTE electric bike in April 2021, when COVID-19 was prevailing. The idea of launching an ebike project appeared in 2019, so I registered the brand first. The company currently has a factory in Poland that can supply products to the warehouses in the UK and Poland and provides 5-8 days fast delivery within Europe. During this period, we prepared a lot. From website building to office rental and cooperation between the factory in Poland…
Now our team is nearly 30 staff members in the office and more in the factory. From the very beginning, we sold scooters in America. It didn’t behave optimistically. So we changed our market to Europe and made some product categories changes from scooters to ebikes. Now our electric bikes are almost sold all over Europe.
7. ENVO Drive ($14.4M/year)
Ali Kazemkhani (from Vancouver, BC, Canada) started ENVO Drive over 8 years ago.
My name is Ali Kazemkhani. I have an MSc. Mechanical Engineering, with 20+ years of entrepreneurial experience. I started EBikeBC and ENVO Drive Systems as e-mobility product development and retail companies. My company develops products that can travel on the road, on snow, and in water.
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Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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