Crowdfunding Triple Crown Goes to Eugene Oregon Bike Manufacturer – Two Six-Figure Kickstarters and a Now a Six-Figure StartEngine Campaign

Hanna Scholz, president of Bike Friday

Hanna has only been president of this 25-year old bike manufacturing business for two years. She took over from her dad, Alan Scholz, allowing him to spend more time doing what he loves, inventing and engineering new bicycle products.

The question: Can a 30-something female president of a steel fabrication company successfully raise money using the hot new online concept of crowdfunding? The answer, if she has the true grit of Hanna Scholz, the answer is yes. Her results on the top equity crowdfunding platform, StartEngine.com go far beyond success to top-of-class. Only 80 US companies have raised more than Bike Friday’s current $149,000.

But the story doesn’t stop there. Hanna has only been president of this 25-year old bike manufacturing business for two years. She took over from her dad, Alan Scholz, allowing him to spend more time doing what he loves, inventing and engineering new bicycle products.

When Hana took over, the company was in some rough terrain. The bicycle business was slumping, and Bike Friday (https://BikeFriday.com) had recently endured a recall of their top selling bike. Sales were down and losses were mounting. Alan Scholz had a new product ready to go that would create an entirely new cycling category, a sport utility/cargo bike. He believed that families and hobbiests would buy a cargo bike if it was light weight and handled like a road bike.

Hanna decided to put the new product up on Kickstarter.com. The resulting $135,000 raise put Bike Friday in the rarified air of being in the top 2% of all campaigns. The Haul-a-Day has gone on to be a very successful addition to the line.

But Alan and Hana weren’t done. The went back to Kickstarter with the pakiT folding bike, which was and continues to be the lightest, bike shop quality folding bike on the market, weighing as little as 14 pounds. It also folds so small you can put it in a custom designed backpack.

Sales stabilized and losses turn to break even in early 2017, but if the company is to take advantage of the new products and imaginative new marketing approaches that Hanna is planning, they need to raise more funds. They decide to try an approach that was barely a year old in the US,…

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