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This is Chris Redgrave for Zions Bank Speaking on Business.
Riding bikes is literally in Jared Madsen's DNA. He started riding very young and at 15, he started building bikes for a local biking company. After graduating from the University of Utah, he later worked for biking, motorcycle and scooter companies. All of this experience and passion has been invaluable in his current role as president and founder of Madsen Cycles in Salt Lake City.
Madsen Cycles are cargo bikes, designed to safely carry children and other items, like groceries, from one point to the next. They allow people to ride a bike while carrying something. This has wide applications for people who want to be more active and use their bike in a more extensive way. The concept is catching on across the U.S. and also in places across the world, especially where bikes are the primary means of transportation.
The inspiration for the business came while Jared and his wife, Lisa, were on a bike tour in Holland. Jared noticed how many people there were using utility bikes, and that's when he identified a new opportunity to bring back to the U.S. About eight years ago he created Madsen Cycle and has experienced amazing success to date.
The customer base here in the U.S. for Madsen Cycles is young moms and dads with a second or third child. That's their niche. It's an active generation of parents, people involved in the outdoors, in sports, and who enjoy being active. They ship bikes all over, completely tuned up and ready to go when they arrive at the customer's front door. They also changed their model so they sell directly to customers and through their website. This saves money and makes the process smoother and quicker.
The group Madsen Cycles is serving is very niche. And they continue to develop their market in an original way, offering test rides to prospective customers in cities across the U.S. They publicize these rides through their fan base on Facebook, Twitter, Instagram and other social media. You can check their selection out at madsencycle.com.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Madsen Cycles 801-870-1122 www.madsencycles.com
