Priority Bicycles: Dave Weiner | How I Built This with Guy Raz

Intro

In this episode of “How I Built This with Guy Raz,” host Guy Raz interviews Dave Weiner, the founder and CEO of Priority Bicycles. Dave shares the story of how he quit his job in the tech industry to build a low maintenance bike at an affordable price. Despite facing challenges along the way, Priority Bicycles has become a formidable brand in the bike industry.

Main Takeaways

Creating a Low Maintenance Bike

• Dave Weiner quit his job in tech to build a low maintenance bike at an affordable price.
• His bikes would include things like disc brakes, puncture resistant tires, and a carbon fiber belt drive instead of a metal chain.
• Simple additions like thorn-resistant tires and low maintenance brakes can improve the biking experience.
• Coaster brake bikes are low maintenance and can be ridden for thousands of miles without needing tuning.
• The belt drive is a differentiating feature that lasts three times longer than a chain and requires no oiling or greasing.

From Software to Bikes

• Dave’s love of cycling began in his childhood and he enjoyed working on bikes to make them better.
• Working at a bike shop in high school allowed him to extend his knowledge of how to work on bikes.
• Dave worked for Giant Bicycles in both parts ordering and IT, which was a small department at the time.
• He became an expert in a new software called Microsoft Dynamics and took a job in New York to head a group to take on the software.
• Dave’s non-compete clause led him to combine his knowledge of software and bikes to start a bike company that offers low-maintenance bikes.

Building Priority Bicycles

• Dave started thinking about creating a bike company in 2013 and eventually left his software business job to pursue this idea.
• To source the components for the bike, the founder traveled to Taiwan and met with around 30 different suppliers.
• The Kickstarter campaign for Priority Bicycles did very well, selling over $200,000 in bikes on the first day.
• They faced challenges fulfilling the orders, with only three people at Priority Bicycles and 1,500 bikes to order.
• The company realized they needed more than one model of bike and attempted to design a kids’ bike with features such as puncture-resistant tires, but it failed to connect with customers.

Growth and Challenges

• The company became profitable in year three, able to take home a salary and grow the business.
• In 2020, the business faced challenges due to the pandemic, but eventually, everything started to sell and they sold out of everything quickly.
• Supply chain issues started to work themselves out by the last half of 2022, but some components are still six months out.
• The company produces about 25 different bike models, including cargo bikes, and took on outside investment during COVID.
• Despite the difficult year, the company has not had to shut down locations or lay off staff, and is focused on not losing ground.

Summary

Creating a Low Maintenance Bike

Dave Weiner’s vision for Priority Bicycles was to build a low maintenance bike at an affordable price. By incorporating features like disc brakes, puncture resistant tires, and a carbon fiber belt drive, he aimed to provide a hassle-free biking experience. These simple additions, such as thorn-resistant tires and low maintenance brakes, enhance the overall biking experience. The belt drive, which lasts three times longer than a chain and requires no oiling or greasing, sets Priority Bicycles apart from traditional bikes.

From Software to Bikes

With a background in software and a passion for cycling, Dave Weiner combined his expertise to start a bike company. His experience working at a bike shop in high school and for Giant Bicycles allowed him to gain valuable knowledge about bikes. Later, he became an expert in Microsoft Dynamics and took on a job in New York. Dave’s non-compete clause led him to merge his software knowledge with his love for bikes, ultimately leading to the creation of Priority Bicycles.

Building Priority Bicycles

Dave Weiner’s journey to build Priority Bicycles started in 2013 when he began contemplating the idea. He traveled to Taiwan to source components for the bikes, meeting with various suppliers. The Kickstarter campaign for Priority Bicycles was a success, selling over $200,000 in bikes on the first day. However, fulfilling the orders posed challenges for the small team. The company realized the need for multiple bike models and attempted to design a kids’ bike, but it didn’t resonate with customers.

Growth and Challenges

After facing setbacks and challenges, Priority Bicycles became profitable in its third year of operation. However, the COVID-19 pandemic presented new obstacles. Despite the difficult year, the company managed to sell out of its bikes quickly and did not have to shut down locations or lay off staff. Supply chain issues gradually resolved, and the company now produces about 25 different bike models, including cargo bikes. Outside investment was secured during the pandemic to support growth.

Conclusion

From quitting his tech job to building a successful bike company, Dave Weiner’s journey with Priority Bicycles showcases the importance of combining passion, expertise, and a problem-solving mindset. By focusing on creating low maintenance bikes with affordable price points, Priority Bicycles has become a formidable brand in the bike industry. Despite facing challenges, the company continues to innovate and grow, adapting to changing market conditions and customer demands.