Fresh off Micromobility America, James Gross talks with Jimmy Standley, the Co-Founder and CEO of Solé Bicycles. Solé Bicycles was founded in 2009, with the initial concept being a class project to create affordable bicycles, specifically aiming for a price tag of $200-$300. They subsequently won an Alibaba business plan competition, and used the $25,000 grant won to create their first product. They sold their products directly to customers, offering a high-quality product at a competitive price. They used the Shopify platform early on, and utilized digital marketing strategies on platforms such as Facebook and Instagram to grow their business. The brand focuses on being relevant culturally, collaborating with various DJs and other artists for special products and promotions.

‍

Highlights

🎓 The idea for Solé Bicycles began as a college business plan project to create affordable fixed-gear bikes.

💡 Winning a business plan competition sponsored by Alibaba, they received a $25,000 grant to start their business.

🌍 Initial struggles included direct dealings with manufacturers in China and rapidly scaling the business.

📈 The company's focus on vibrant, artistic designs helped them break into the market and attract customers.

🚲 Solé Bicycles diversified into direct-to-consumer sales, online marketing, and various collaborations.

💻 Early adoption of Shopify and leveraging social media platforms like Instagram played a key role in their growth.

🛠️ Future plans include expanding into electric bikes while maintaining their core in acoustic bikes.