Update on Bunch Bikes From Shark Tank (2024)

ABC’s ‘Shark Tank’ is a long-running reality show that gives hopeful entrepreneurs a chance to present their ideas to a panel of business leaders and to millions of viewers of the show. If the panel members, or “Sharks,” as they are referred to on the show, are impressed and choose to “bite,” the entrepreneurs are offered an investment in exchange for a stake in their company.

The show has seen hundreds of business ideas being pitched on it, and while some companies make it big and go on to generate millions in revenue, others are doomed to oblivion and fail to get the investment or take off. Bunch Bikes is one of the products featured on season 12 of ‘Shark Tank,’ and we were curious to know just how far they’ve come in their entrepreneurial journey. Here’s what we found out.

Bunch Bikes: Who Are They and What Do They Do?

Bunch Bikes are front load-carrying cargo bikes that give cyclists a wide range of possibilities for what (or who!) they want to take along for the ride. The 3 wheeled bikes are available in a manual or electric mode and come with different sized front compartments that can accommodate up to a week’s worth of groceries, 6 children, or even two dogs.

Aaron Powell of Denton, Texas, is the man behind Bunch Bikes. He is a believer in simplified living and attributed a lot of his lifestyle changes, including embracing cycling, to personal finance blogger Pete Adeney, a.k.a. Mr. Money Mustache. The cycling enthusiast first came across cargo bikes in 2016 whilst on a family vacation in Sweden, where he spent weeks cycling with his young daughter.

Wanting to continue the family biking experience once he was back home, he looked for similar cargo bikes in the US but couldn’t find any for a reasonable price. And thus started Powell’s journey of introducing people to Scandinavia-inspired cycles and Scandinavian cycling culture. Lo and behold, in 2017, Bunch Bikes was born.

Bunch Bikes was bootstrapped with a funding of $95,000 from friends, family, and a few angel investors. Aaron, who came with no prior experience in the cycle industry, sold his jewelry e-commerce business and used the funds on Bunch Bikes as well. He started by sourcing his cycles from China, which were then assembled in Denton, Texas, before being shipped across the US and Canada. Soon enough, they had expanded to 45 states and 3 countries.

Bunch Bikes: Where Are They Now?

Powell initially focused on spreading the word about his bikes by enlisting Bunch Bike owners as brand ambassadors and tying up with local bicycle shops to stock Bunch Bikes so that potential customers can have a test ride. He admitted that though the number of people looking for a product like his is very small, it’s because a lot of people, especially families, do not know that something like a Bunch Bike exists. The feature on ‘Shark Tank’ is definitely going to give the company some much-needed visibility.

After initially drying up sales in March 2020, the COVID-19 pandemic also gave Bunch Bike sales an unexpected boost in the following months as more and more people looked for safe outdoor activities and ways to utilize the traffic-free roads. However, Powell is struggling to satisfy the orders as bicycle parts have become harder to source due to rising demand.

Having said that, though, Bunch Bikes has completed the first phase of its business which was to introduce the product to the US market. Powell is now focusing on phase 2, which involves innovating in their category to offer a wider and better-suited range of products to his customers. As Powell sees the adoption of cargo cycles as not just a hobby but a shift to a more wholesome lifestyle, he believes that he has initiated a movement that starts as a pond and ends up becoming an ocean.

After all, the cycles are available in multiple formats, each offering different load sizes and accessories. The largest cycle in their range, The Preschool, can accommodate up to 6 children at a time and is ideal for daycare picnics. Their flagship, The Coupe, comes with wood trimmings, a front-loading door, and a Samsung battery that gives it a range of 75 miles.

The Coupe is also manufactured in the Netherlands, which, on many occasions, has been referred to as the cycling capital of the world. Bunch Bikes also offers a wide variety of accessories for their cycles like rain and sun covers, extra dog beds, cup and phone holders, as well as high-quality brass bells for true enthusiasts. A miniature version of the Original Bunch Bike for children is also available on their website. Evidently, the company is headed onwards and upwards!

Read More: Update on Tandem Boogie From Shark Tank

Update on Bunch Bikes From Shark Tank (2024)

FAQs

What happened to Bunch Bike after Shark Tank? ›

Bunch Bikes actually caught two Sharks after the show

In one of the more interesting turns in "Shark Tank" history, Bunch Bikes was actually able to land another investor in Robert Herjavec, but after the show aired. Eventually, both Herjavec and Barbara Corcoran would invest in the business, splitting the deal 50/50.

Did bunch bikes get a deal on Shark Tank? ›

After some back and forth negotiating, they settled on a $100,000 equity investment with a $150,00 line of credit, in exchange for 15% equity. Prior to the filming of Powell's pitch in Las Vegas, Nevada, Robert Herjavec had already purchased an Original Bunch Bike.

Who is the owner of bunch bikes? ›

Aaron Powell - Bunch Bikes | LinkedIn.

Where is bunch bikes located? ›

Our goal is to help make your bike life easy and stress free! Call or text: 940-536-0597. Real person, no phone tree or chatbot! Visit us in Texas: 4408 Worthington Drive, Denton, TX 76207.

What is the most unsuccessful Shark Tank product? ›

10 Failed Shark Tank Companies
  • 1) ToyGaroo. What was ToyGaroo: “The Netflix for toys”, a subscription service allowing you to rent different toys every month. ...
  • 2) ShowNo Towels. ...
  • 3) Sweet Ballz. ...
  • 4) Body Jac. ...
  • 5) CATEapp. ...
  • 6) Breathometer.

What is the most successful company that went on Shark Tank? ›

1. Bombas. Bombas, a sock company that now also makes bras and t-shirts, came to the minds of co-founders David Heath and Randy Goldberg when they learned that the number-one most-requested clothing item in homeless shelters was socks.

What company was offered $30 million on Shark Tank? ›

It was the largest offer in Shark Tank history. Mark Cuban offered Arum Kang $30 million for her dating app Coffee Meets Bagel. But she and her sisters swiped left, and that decision made them the targets of keyboard cowboys who labeled them “foolish” and “greedy”.

Who made the most deals on Shark Tank? ›

One of the original Sharks, Mark Cuban, has invested the most significant amount, a whopping $61.5 million, and has struck the most deals on screen (218). On the other hand, Kevin O'Leary has appeared in most episodes (291) and seen the most pitches (1161).

What bike brand does Walmart own? ›

Walmart already has impeccable high-end bicycle connections. RZC Investments, founded by Tom and Steuart Walton, grandsons of Walmart founder Sam Walton, owns Rapha and part-owns Allied Cycle Works, a high-end bike manufacturer based in Little Rock, Arkansas.

Was Guardian Bikes on Shark Tank? ›

Our dream was to provide a safer biking experience to kids around the world. During our Shark Tank pitch, we faced tough questions but we were able to demonstrate the potential of our product and the strength of our business. In the end, Mark Cuban saw our value and made us an offer.

Who is the CEO of BikesOnline? ›

James co-founded BikesOnline with Jonathon Allara over 10 years ago and they continue to share the CEO role.

Where are Schwinn bikes made? ›

In 2004, Pacific Cycle was in turn acquired by Dorel Industries. Once America's preeminent bicycle manufacturer, the Schwinn brand, as with many other bicycle manufacturers, affixed itself to fabrication in China and Taiwan, fueling most of its corporate parent's growth.

Where are Brother bikes made? ›

They are handmade in Taiwan from the best materials, by frame builders with over 30 years experience, ensuring a high quality product designed to be ridden all day, every day, whether in the city or out in the wild. We design, test and ride every one of our bikes ourselves.

Where are giant bikes made in? ›

Giant Manufacturing Co. Ltd.

(commonly known as Giant) is a Taiwanese bicycle manufacturer, recognized as the world's largest bicycle designer and manufacturer. Giant has manufacturing facilities in Taiwan, the Netherlands, China,and Hungary.

What happened to bundle on Shark Tank? ›

He shuttered Bundil in mid-2023, but that wasn't the end of his story. As of 2024, he has a new company, another one in the fintech space, and appears to be thriving.

What happened to Robin Williams bike collection? ›

The famous actor, who passed away in 2014 aged 63, was a keen cyclist and had 87 bicycles in his collection, all of which were donated to the charity auction by his family.

How did Cycloramic do after Shark Tank? ›

Francois had ambitious plans, targeting $1 million in sales for the following fiscal year. The exposure on "Shark Tank" provided a substantial boost, famously known as the "Shark Tank bump." Immediately following the episode's airing, Cycloramic saw an explosive increase in downloads, reaching more than 8 million.

Has Shark Tank ever bought an entire company? ›

Mark Cuban did something that no one's ever done on "Shark Tank" before: On the show, he made a deal not to invest in a company, but buy it outright. The deal to buy struggling novelty sticker company evREwares for $200,000 made for great drama for the show's viewers, but it turns out the deal never went through.

References

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Mrs. Angelic Larkin

Last Updated:

Views: 6319

Rating: 4.7 / 5 (67 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Mrs. Angelic Larkin

Birthday: 1992-06-28

Address: Apt. 413 8275 Mueller Overpass, South Magnolia, IA 99527-6023

Phone: +6824704719725

Job: District Real-Estate Facilitator

Hobby: Letterboxing, Vacation, Poi, Homebrewing, Mountain biking, Slacklining, Cabaret

Introduction: My name is Mrs. Angelic Larkin, I am a cute, charming, funny, determined, inexpensive, joyous, cheerful person who loves writing and wants to share my knowledge and understanding with you.