Bike Business

Bike Business Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Imagine combining your love for bikes with a lucrative business opportunity. Starting a bike business is an ideal venture for those passionate about cycling and keen on fostering community engagement and sustainable transport.

In simple terms, a bike business involves selling, renting, or repairing bicycles. Additionally, you can provide accessories and equipment, giving customers a one-stop shop for all their biking needs. Setting up a physical store and an online presence maximizes reach and diversifies income streams.

The biking industry is flourishing as people increasingly prioritize health, fitness, and eco-friendly travel. Your business could cater to a wide range of customers, from recreational riders to daily commuters and cycling enthusiasts.

Moreover, this business fosters community relationships and promotes a healthier lifestyle. With dedication and strategic planning, you can transform your passion for bikes into a thriving and impactful enterprise.

In this list, you'll find real-world bike business success stories and very profitable examples of starting a bike business that makes money.

1. Area 13 Ebikes ($4.2M/year)

Kyle Chittock, the owner of Bolton Ebikes, came up with the idea for his business through his passion for riding bikes and tinkering with electronics. He realized that he could combine his hobbies by adding an electric motor to bicycles, and thus began his journey with Bolton Ebikes. The business has seen incredible growth, with a 500% year-over-year increase, all without any paid advertising. Kyle attributes much of his success to serving his customers and building trust through platforms like YouTube.

How much money it makes: $4.2M/year
How much did it cost to start: $200
How many people on the team: 6

How I Started A $350K/Month Electric Bikes Store

Bolton Ebikes has experienced 500% YoY growth, bringing in $350k per month in revenue, all without any paid advertising and primarily driven by YouTube videos; the founder emphasizes the importance of finding out who your customers are and serving them what they want.

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Guillermo Cornejo, leveraging his background as a data analyst in the auto industry, founded Riders Share after crashing his motorcycle and discovering rentals cost a staggering $200/day. His platform now boasts 22,000 listed motorcycles and has raised $3.5 million in venture capital with over 120,000 registered users.

How much money it makes: $1.8M/year
How much did it cost to start: $1M
How many people on the team: 6

How I Built And Scaled The First Airbnb For Motorcycles

Riders Share, an online marketplace for motorcycle rentals, has generated over $3.5 million in venture capital since February 2018 with over 120,000 registered users and a margin of around 45%, proving it's possible to create successful businesses in niche markets.

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