Pro's Closet raised some cash

[FlashUNC]

Originally Posted by AngryScientist

yes, but the flip side is it's also probably a good time to exercise caution with expansion. i'm sure it's cheaper in st loius than boulder, but they are significantly expanding their square footage, and presumably staff. the level of bike buying frenzy is not going to keep up forever, especially if/when a major recession hits, so hopefully for them they can continue to support the expanded operation far into the unknown future.

We're already in it.

[NoMoreParagon]

very good timing on their part.. I found pro's closet good but in my humble opinion nothing beats Paceline for buying/selling. There is comraderie here, there is members knowing each other either because riding or because virtual transactions. there is appreciation for whatever is sold and pricing looks almost all the time fair.
Pro's Closet definitely did benefit from the flow coming from Mosaic..many of their NAHBS frames ended up to Pro's which undoubtedly helped them building a reputation.
I think this capital round might be based on their desire to expand to become maybe the Yoox or Gilt of bike manufacturers. Offload end of season inventory through them and keep a lean inventory.

[Hawker]

I assume this spike in bike sales is all about limited recreational things to do with families due to Covid. Is it safe to assume that this spike will increase or even remain at the same level for the next 12 months? I'm not sure about that?

I trust bike shops and others in the industry will be prudent, especially if it involves debt.

[FlashUNC]

Originally Posted by Hawker

I assume this spike in bike sales is all about limited recreational things to do with families due to Covid. Is it safe to assume that this spike will increase or even remain at the same level for the next 12 months? I'm not sure about that?

I trust bike shops and others in the industry will be prudent, especially if it involves debt.

I'd hope at least a few of those folks have discovered something they enjoy and will continue to do even when things begin to open back up.

[tomato coupe]

Originally Posted by zmudshark

Short drive from the airport, where the UPS hub is located.

Never mind, Louisville CO, not KY

It's actually right across the street from a huge FedEx terminal. It's also across the street from the Pearl Izumi headquarters, so there should be some good lunch rides everyday in that industrial park.

[peanutgallery]

What the Pros Closet sells is not what the typical LBS customer is looking for during this alleged "boom"

The "boom" is more of a scarcity of bread and butter basics. Nice bikes and parts are generally available. 7 speed MRX shifters for a bike someone bought on a budget 30 years ago are not. Juvenile bikes/parts, too

As soon as U4 Elite Travel Soccer comes back...

[tomato coupe]

Coincidentally, I got an email from PayPal about 5 minutes ago informing me I just got paid for a frame that was picked up 4 hours ago. It doesn't get any easier than that ...

[BobbyJones]

Pretty awesome for Nick Martin!

I didn’t realize they were that big and funded. Makes me wonder if they actually make money.

What’s their map? Curious if we’re looking at the start of an online, high end “play it again sports”. The bike market is only so big and crowded. Do people spend 5k on golf clubs and fishing rods?

[R3awak3n]

Originally Posted by KJMUNC

glad I got paid for my Pinarello last week before they start changing policies

Best of luck to them.....

They sent me a really good offer on a bike last week. Was very surprised how good it was. Just $350 less than I had it listed here on PL (and no one bought it at that price so I say offer was solid but I feel it is a hit or miss, some bikes will get terrible offers, others good offers)

[oldpotatoe]

Originally Posted by AngryScientist

yes, but the flip side is it's also probably a good time to exercise caution with expansion. i'm sure it's cheaper in st loius than boulder, but they are significantly expanding their square footage, and presumably staff. the level of bike buying frenzy is not going to keep up forever, especially if/when a major recession hits, so hopefully for them they can continue to support the expanded operation far into the unknown future.

This has been on their radar way before the Covid stuff. It's NOT a reaction to the weirdness going on now nor the 'rent' in that Boulder location. If you have even been at the Boulder location, they are PACKED in there. Quickly ran out of room. Besides, Louisville is right up the street, not like they ARE going to Louisville KY..Gonna be a PITA to move tho...

It's actually right across the street from a huge FedEx terminal. It's also across the street from the Pearl Izumi headquarters, so there should be some good lunch rides everyday in that industrial park.

Pretty close to Wheels Manufacturing also(now owned by the family that owns Quality Bike Parts)..great location, easy ride from Boulder. Lots of 'local' riding around that area too. Good on Nick, he's one of the good ones in the daffy bike biz.

[charliedid]

Originally Posted by peanutgallery

What the Pros Closet sells is not what the typical LBS customer is looking for during this alleged "boom"

The "boom" is more of a scarcity of bread and butter basics. Nice bikes and parts are generally available. 7 speed MRX shifters for a bike someone bought on a budget 30 years ago are not. Juvenile bikes/parts, too

As soon as U4 Elite Travel Soccer comes back...

Exactly

Good for The Pro's Closet. I bet this would have been happening regardless of any sort of "boom"

[fa63]

There was a recent Cycling Tips podcast where they interviewed an investment analyst who studies the cycling industry. He was cautiously optimistic about the sustainability of the recent trends, although he said that the high-end market hasn't really experienced any increases like the entry-level market.

At our shop, we are stocking up on sub-$1000 bikes for the most part.

Originally Posted by Hawker

I assume this spike in bike sales is all about limited recreational things to do with families due to Covid. Is it safe to assume that this spike will increase or even remain at the same level for the next 12 months? I'm not sure about that?

I trust bike shops and others in the industry will be prudent, especially if it involves debt.

[peanutgallery]

How'd you get sub $k bikes?

Rumor has it that many companies are only fulfilling bike orders in tier 1 markets...or if there's a Trek store up the street. It's a mess

https://www.bicycleretailer.com/opin...g-year-decades

Originally Posted by fa63

There was a recent Cycling Tips podcast where they interviewed an investment analyst who studies the cycling industry. He was cautiously optimistic about the sustainability of the recent trends, although he said that the high-end market hasn't really experienced any increases like the entry-level market.

At our shop, we are stocking up on sub-$1000 bikes for the most part.

[fa63]

Originally Posted by peanutgallery

How'd you get sub $k bikes?

Rumor has it that many companies are only fulfilling bike orders in tier 1 markets...or if there's a Trek store up the street. It's a mess

https://www.bicycleretailer.com/opin...g-year-decades

Our shop carries several "not-so-well-known" brands (Jamis, Marin, KHS, Felt) and we got in line pretty early for the '21 models. Mostly hybrids, dual-sport bikes and entry level hardtails. And a few basic road/gravel bikes.

[peanutgallery]

Never thought I'd say this, but I would do just about anything for a pallet of KHS bikes

We've had hundreds of bikes on order since May and received less than a dozen. Good on you guys

Originally Posted by fa63

Our shop carries several "not-so-well-known" brands (Jamis, Marin, KHS, Felt) and we got in line pretty early for the '21 models. Mostly hybrids, dual-sport bikes and entry level hardtails. And a few basic road/gravel bikes.