How a Group of Friends Made a Dent the $6 Billion Bike Industry Childhood pals find big profits in stripped-down bicycles with their company Pure Fix Cycles.
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Cyclists are an exceedingly loyal crowd: Hard-core riders make blood oaths to brands like Trek, Cannondale, Giant and Specialized, while casual pedalers rarely break up with childhood sweethearts like Schwinn and Raleigh. Still interested in making a dent in the $6 billion bike industry? You're just as likely to find yourself on the podium at the Tour de France.
But Pure Fix Cycles, which brought in nearly $4 million in 2012, has positioned itself to become a big wheel in the bike biz in just two short years. The company, founded by four childhood friends, sells roughly 2,000 of its no-frills bikes each month both online and through a nationwide network of 300 bike shops. Incredibly, the team got their start while designing bike frames between college classes.
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