Bike Lock Business Success Stories [2024]
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.
In this list, you'll find real-world bike lock business success stories and very profitable examples of starting a bike lock business that makes money.
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 money it makes: $3M/year
How much did it cost to start: $3M
How many people on the team: 22
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.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
