CliffordK

Looking at various bikes that fold the rear wheel forward, the rear fold is interesting. In theory, one may not actually need a lock on the rear wheel. Some companies have incorporated a shock or spring at that point, perhaps without a lock. Simply fold and let the weight hold the wheel in place.

I've managed to end up with two Tikits.

One very battered. Apparently stolen and recovered after the kids tried to use it as a BMX bike (for about a week) with disastrous results. It definitely isn't as strongly built as a BMX bike. But, one can see both how it is supposed to function, as well as the problem areas.

The second Tikit is in much better shape. It has no cable. I'll have to review the locking mechanism, but I'm not convinced the cable is absolutely needed. Or, maybe this is a later version.

There are two small clips on the frame, so when all folded up, one clips it together, and the bike can be easily carried folded.

This one has a carrying strap. The first (battered and abused) bike had a pop-out baggie to cover it which seemed like a nice feature.

As noted, the Tikit has a lot of little pieces, but it really seems to fold very nicely.

I don't have a Pakit and Tikit to compare side by side. But, from photos and videos, the Pakit looks to be a much simpler design, and notes indicate a moderate packed size and weight advantage.

One of the issues with the Pocket Rocket and NWT is that the seat mast and rearend fold together. This makes a nice quick strong joint. But, unfortunately is a little fiddly. I think that is why the Pakit doesn't have the folding mast.



Anyway, "quick fold" and "simple fold" may be a direction that Bike Friday could follow up on. Easy carry and roll around?

Enthusiast

When I first joined Bike Friday years ago I was given a big reading list to help me catch up on the values of their business. One of the first was "Honest Business" by Michael Phillips and Salli Rasberry. One of the main tenets of that book is that the usual level of secrecy found in business is surprisingly harmful. So we actually believe that sharing our search for a new business partner with the wider Bike Friday Community is the right thing to do, and that it IS your business because of the relationship we've created with our customers.

Enthusiast

Thanks for your ideas. We talk about this stuff all the time internally. We do not currently have the capacity for the major R&D effort required to redesign our most popular models to meet these modern features/expectations while still guaranteeing the critical reliability and performance that we expect from every bike we sell. We hope this will be one of the benefits of finding a new business partner.

Thank you for letting us make you several Bike Fridays! It's still feels like an honor everyday to help get people a custom bike that fits them and their needs.

FolderBeholder

I get transparancy. Too little in the world these days.

In private enterprise though, transparancy within an organization, and outside of it are wholly different animals.

Your required reading list more than likely well pre-dates the proliferation of social media. Inasmuch one person's version of a family-owned company's "dirty laundry" on social media isn't a right to know by of the the rest of the world, hence my comment regarding it not being our business.

Having worked for numerous family businesses in my career, there are often underlying personal issues that can impact a maturing organization run by a single family that the public doesn't have a right to know, unless the family wishes to disclose it. In this case, until you joined this energetic discussion, it wasn't so.

In any event, my hope is that Bike Friday continues to be an American, boutique company...in today's market as well as tomorrow's.

Enthusiast

Yes, I agree with your points. I think I misunderstood to what you were refering to. We strive to remain professional in our communications and hope that former employees will do so as well.

It's great to hear that we're not the only one's that want Bike Friday to remain a company that makes stuff in the USA. We try to be pretty clear about our values. Sharing these core values is a very important criteria for any potential new business partner.

Jarlybart

Bad mouthing the company and bad mouthing the "leadership" are two different things. If you read close to what I wrote you will see that. Most of the team is really great and I said that many times as they are the people building the bikes. Sorry you looked at it otherwise. I truly do hope Bike Friday the business can stay alive and get healthy. Thanks for taking the time to reread what I have written...most grapes only turn sour for a short while...then they become wonderful wine.

FolderBeholder

I dont believe anyone involved in this particular discussion wishes anything but the best for your company, even those of us (myself included) who aren’t even Bike Friday customers.

My point is that a family business is more than a business entity...its part of the founding/operating family’s fabric of life and to a different extent the families of all who work there. So...there are feelings and emotions involved in seeing a family business to it’s next chapter for those intimately involved.

I really didnt come away with the impression that the former employee participating in THIS discussion had sour grapes, but rather a genuine affection for the company and it’s products but I don’t believe airing opinions, even veiled ones about such a tight knit organization and the people who founded, and have run it for decades should be voiced on social media. Call me old fashioned about that, but as I said above there’s more to it than profit/loss/viability etc., there’s a family’s life work involved and people’s feelings to consider.

That said I’ll continue to watch, with interest what develops in terms of Bike Friday in the hopes that if my bicycling career brings me their way someday....there’ll still be a craft-built Bike Friday bicycle for me to choose!

downtube

The disgruntled employee excuse doesn't make sense. Clearly there are issues. 200k were raised 2 yrs ago, I recall reading that it saved the company. Now BF is looking for a buyer. Sounds like the company was not saved and there are fundamental issues with the operation.

FYI I am a fan of BF, however I believe a former employee has more insight than anyone else on this matter. Bad mouthing him is not ok. Especially if you don't address his/her concerns.

Thanks
Yan

Enthusiast

Hi Yan, Thanks for your feedback. I'm sorry if it sounded like we were using a 'disgruntled employee' excuse to explain why Bike Friday is looking for a new business partner. If you'll look into our President Hanna's statements on this, you'll see a few clear issues that we have been very up front about. 1. Our founder and lead designer Alan is 70 and wants to step back from day to day operations. 2. His daughter Hanna wishes to stay deeply involved but recognizes that she can't do it all herself, so needs help on the leadership team. 3. Finances are tight enough that we can't make the necessary investments to keep up with our markets without outside assistance.

CliffordK

If the business is solid, then one might be able to hire a new manager, perhaps with stock options. So you replace one outgoing owner with an incoming employee.

In the corporate world, CEOs are given stock options with real value that can be considered partial ownership of the company if it makes money.

That also allows the current ownership to evaluate the "match" with the company.

The problem, of course, is that good management is expensive.

But, there might also be potential to pick the fruit off the tree, per-se, choosing students from LCC or the UofO.

This idea of selling say a 50% share in the company to a working partner is an interesting option. And, perhaps you'll find a good match. But, as mentioned, it also is very dangerous for the investor.

I'll try to solidify some ideas and send them in to BF (but as ideas, not cash).

linberl

Jarlybart, I went back and read what you posted. A lot of what you said makes sense, but I definitely got the impression that you had issues with the current leadership about more than company procedures. If I misinterpreted your intent, I apologize. Written word can miss nuance.

downtube

I recall the new CEO was put in position because Alan wanted to step away. How many days has Alan showed up for work in the past two years? It doesn't make sense for him to leave if he already left.

Additionally a post on your website claimed raising $200k saved the company. Can you please elaborate on the seeming contradiction.

Thanks
Yan

Jarlybart

I will let Jordan answer that if he is up to it. Good question though and one that should be asked by someone who intends to buy the business. We all get older and in many ways less capable of handling the day-to-day jobs or life. I know my Dad is 79 and still works 5-6 days a week, but he also owns the business and is in a role he really enjoys so he is able to do it. If BF wants to be totally transparent and honest, this is a great platform to be so. If you read back through what I wrote, though it was my views of the situation, I was always honest about what and why. In the end, I want the staff at BF to still have jobs and I want the new owner, if that person ever comes, to not only get the business but the tooling, tools and anything else that it will take to run that business as one big sale and not what it is at this point. The devil is in the details as they say.

Jarlybart

I feel the need to say sorry to some of the folks on here. My only intention for what I have written and why is because I want to see BF become what it could and should be. It can't be that in its current situation, it just can't. I hope that someone who is considering it will read everything I wrote and understand that it can be a great company. It has so much going for it with just a few things added to the team like an Engineer/bike designer. It has a great following and foundation to build on and I hope that it can get there, I really do. You have been offended by my openness and being very straight forward about my feelings and understandings, not sure what I can say about that. I did what I could with what I had while I was there and there is much that I loved about working there, but when you can't fully do your job and feel successful, well that eats on you. I was also the sounding board too often for so much stress there so that might be why I know so much about the inner workings of the company. Trust me...there is so much more I could say but have held back. I am born and raised in a family business and I have tried to keep that in mind when I wrote things here, but I am far from perfect.

My goal...100% is that BF will find a buyer. Someone who knows that it's a gem that just needs some polish...ok lots of polish but it's still a gem. Thanks for your understanding, it's all been from my perspective having worked in many family-owned business environments. I have seen the good and the bad...I have seen worse and I have seen better...so it could be worse.

Enthusiast

Hi Yan, Hanna Scholz took over as President from her father Alan many years ago. Alan, Hanna, and the entire leadership team continue to pour their hearts and souls into Bike Friday. An easier question to answer would be to ask how many days Alan has taken off work in the past two years? Astoundingly few. As the founder of a folding bike business yourself, you must know how hard one has to work to maintain a successful business in the bicycling industry.

Yan, the post you are referencing is from two years ago. It was completely accurate at the time. The generosity of our Start Engine investors really did save Bike Friday at the time but now we are looking not for saving, but for growth. In this changing business environment, it will take big, bold steps to continue our mission. Facing this is difficult for many businesses, but we are very excited about Bike Friday's future. https://www.bikefriday.com/folding-b...rtner-or-owner

I will admit that it is an unusual step for a business to be dialoging with a competitor and an ex-employee on a public forum. Going forward, I will primarily be responding to questions that appear to be made in good faith and aren't answered by our blog post. I do want to be clear that all are welcome to ascribe blame to our competitors, leadership team, our designs, etc. The difficulties and successes of any business will come from a variety of complex internal and external factors. I personally do not agree with many of Jarlybart's interpretations but respect their right to their own opinions. Thank you all for caring about Bike Friday so much!

spambait11

So in the interest of "being open and direct," what you’re saying is that even if you CANNOT find a business partner, you’re still financially solvent: you won’t be going bankrupt anytime soon; Bike Friday is still a viable business that will continue on in the future.
However, the only reason why you want an investor is to grow the business: a luxury, but not a life-or-death necessity.

Is this a correct understanding of your quote above?

Enthusiast

Short answer: Yes, we are solvent and viable going into the future. Long answer: Yes, but we have had to shrink a bit over the past few years to remain financially healthy and this has been painful. Now we are at a healthy, viable size (according to our accountant!) but it is harder to respond to market opportunities like e-assist. Resuming the responsible growth the business had in past years is important in continuing to offer a innovative competitive product. Hanna and Alan feel that looking for a business partner is the best way forward to accomplish this.

tcs

"The company is working with Bell Lap Advisors as they consider options for the sale."



Magic Eight Ball says 'message unclear'. Are you looking to bring in an investor, a new CEO or sell the company?

linberl

https://www.bikefriday.com/folding-b...rtner-or-owner

This pretty much explains it - they are open to possibilities but want to stay involved in whatever iteration occurs.

Enthusiast

Exactly!

downtube

I asked how many days did Alan work in the last two years. The response was,"
An easier question to answer would be to ask how many days Alan has taken off work in the past two years?"

This response is a nonresponse. An answer could be a number, interval or rational. FYI some people don't need to show up for work, hence the number of days they take off is zero.

​​​​​​Additionally you claim BF was insolvent two years ago, 200k saved it. Then BF discontinued their top selling bike ( the Tikit ), and entered a bike market that has experienced double digit sales declines for the past two years. Now the trade war has rocked all markets. After all this you claim BF is solvent and they are selling to grow the business.

I can't see how these "stories" will work in a positive way.

This thread is popular because everyone is worried about the solvency of BF. I think your rational has confirmed everyone's fear.

​​​​​​Thanks
Yan

bargainguy

As a BF customer, I really don't care what Alan's schedule is, how many days he takes off, or whether he works from home. As long as production hums along smoothly, it doesn't matter.

If the company is viable in present form, I see no need to doubt their assessment. The one-time cash infusion from the stock sale probably helped them through a rough patch, but it was understood to be a one-shot deal. If they re-evaluated and reorganized as a result, and now have a lean, solvent, and even slightly profitable company, good for them!

I have five Bike Fridays. I'm not likely to need another, so I'm pretty much set for life. If I didn't have one, though, and I were on the fence about getting a new one, the possible impending sale of the company wouldn't bother me. Companies get bought and sold every day, and sometimes much for the better, especially if the prior management wants to seek other ventures.

I think we all need to take a breath, step back, and let the wizards at Green Gear work their magic.

Jarlybart

"So in the interest of "being open and direct," what you’re saying is that even if you CANNOT find a business partner, you’re still financially solvent: you won’t be going bankrupt anytime soon; Bike Friday is still a viable business that will continue on in the future.
However, the only reason why you want an investor is to grow the business: a luxury, but not a life-or-death necessity.

Is this a correct understanding of your quote above?"

Honesty...they write books on these kinds of things I hear...I might have even read about it on the internet. ;-)

fricker61

As a former dealer, I'll jump in here...

While I agree that margins were/are definitely a problem for anyone that wants to be a Bike Friday dealer, I would say the biggest issue we found was simply having a manufacturer directly compete with us for sales. Despite multiple assurances that systems were in place to prevent it, we lost count of how many times someone would roll into our shop with a shiny new Friday that they had bought direct, and they lived a few miles from us. That wasn't the final straw for us, but it sure did add to the list of reasons to sever our relationship with BF.

You're definitely right about lack of dealer support and no rep system in place. And when warranty/recall issues came up (can you say Tikit?), the solution most often left the dealer with having to spend a lot of time fixing a problem and getting very little in return from BF for their time. The "dog bone" fix on the Tikit comes to mind... it was a pain to install, was a basically cheesy solution to a frame flaw, and dealers were given a miniscule credit to offset the time spent installing it.

Also, as I recall, while direct buyers had a "love it or return it" policy to fall back on if they didn't like the bike, if a dealer faced such a situation, the dealer was stuck with the bike, as BF wouldn't take them back from us. I might be remembering that wrong, and I don't know that we ever really got stuck in such a situation, but I'm pretty sure that was the situation. Another way in which a dealer really felt at a disadvantage when competing with direct sales from BF.

All in all, in my experience, BF just didn't support us as a dealer well at all. And when the final straw came (which I won't go into publicly), I let them go with no regrets, and even now, 6 or 7 years later, I don't miss being a BF dealer at all.

Tim

Jarlybart

It was one of my biggest struggles with the sales team. There was just no moral standard in the fact that the dealers needed support and if a sale happen in the area of a dealer there should have been at least a small amount $150-300 sent without even asking if the customer talked to them or not. This whole concept went right over their heads. As a dealer you pretty much were screwed from the start unless everything went 100% perfectly. Truly sorry for that as I understand the feeling. I was born and raised in a family business and know all too well how it felt when companies like The North Face, Burton, K2 among so many others starting selling direct to customers and even worse when the prices would drop because they would be doing a new sale each week...that was BF all the way. It's why I pushed so hard to stop sending deals every week and we even went a couple months without a coupon code which was unheard of in company history. I do hope that someone who knows how to run a business and support a dealer network will buy the business before it goes under but I fear that time is coming too quickly as BF is going to the slowest time of the year and have changed their strategy to selling the cheapest bikes they make which make them almost 0 profit. One person there is holding the hammer...the other has the nails and they are both standing over the coffin.