Breaking News: Bike Friday Looks for a New Business Partner
We are doing it different, as usual!
Just like when we started the company in 1992 and the bike industry thought Alan and Hanz were crazy saying that making a business selling custom travel bikes, that fit in a suitcase, and cost $1,000…was impossible. Then… we went direct to the customers, and it worked!
So now we take an ‘unusual step’ again and reach out to the Bike Friday community.
Alan and I have discussed the big new potential we see for Bike Friday to grow into the future and have concluded it will take marketing skills and financing we do not currently have on our team. As Alan nears 70, we have decided its time to look for some one who does have those skills and financing and who sees the vision and possibilities we see. We are inviting a key investor or new owner to join or take over this amazing Bike Friday community and help make the next steps to an exciting future.
Bike Friday is unusual in many ways and we see the community shares those same special values.
Being open and direct is one of our values and it allows us to talk directly to the Bike Friday community. You are the ones that really understand the special product, values and brand in a way that people unfamiliar with the Bike Friday experience do not.
Our biggest opportunities in the market:
- Electric pedal assist – Our bikes are the lightest and most versatile options : We build some of the lightest e-bikes on the market today. We build the only electric folding bikes that you can fly on the airline with. We build the lightest electric cargo bike in the world (The Haul-a-Day)…..These are all the top growing markets and we have key products that fit the trends.
- High quality bikes for city lifestyles and people of all sizes: We build bikes that are easy to store and carry in small spaces on other transportation systems for compact simple city lifestyles AND we fit the largest size range of people of any folding bike in the world. Compact city lifestyles are the focus on the younger generations and short and tall people are not being well served by what is on the market today.
Details of what Alan and I are planing in a possible transition:
- The Bike Friday community is the life blood of the company and we know it! We will still talk direct with customers, still have a real bike rider answer the phone, still help you find the best bike for your needs etc…
- Alan and I remain passionate about Bike Friday and are interested in remaining and contributing.
- Alan is almost 70 and still passionate about bikes improving peoples lives, and he wants to focus just on designing new timely products
- We are still committed to employing skilled people handcrafting our products, right here in the United States.
- The marketing channels and skills to market our special bikes have changed quite a bit in the last 10 years. We have great products but many people don’t know about us. This needs special marketing skills, connections and funding to address.
In this endeavor we are committed to finding the right person that shares our values and love of bikes.
If you know of someone who might be a good fit we would love to hear suggestions from the community.
Alan and I are working with Bell Lap Advisors to help us consider the options. All serious inquiries should be directed to Russell Cree, Managing Partner at Bell Lap Advisors, firstname.lastname@example.org or 503-501-8121.
About Bell Lap Advisors: As a boutique M&A advisory firm, Bell Lap Advisors works with founders, leaders, and operators of small and lower mid-market businesses in the outdoor, action sports, and active lifestyle industries to find the best outcomes for their ventures. Bell Lap Advisors has extensive experience in the cycling industry, including Machines for Freedom-Specialized, and Powertap-SRAM acquisitions.
Bell Lap Advisors
Remaining committed to the mission,
Alan Scholz and Hanna Scholz
Vision of the future:
Reduce reliance on car culture through personal transportation solutions that support healthy modern lifestyles and sustainable communities one great bike at a time. Be a climate action contributor.
The mission of the company:
Be a company with a conscience offering elegant transportation solutions for modern world problems. Passionately build high quality, versatile bicycles, personalized to empower people, with freedom and convenience, to ride anywhere on a bike that fits them.