Oh man, I have a perfect spot in my basement for a bike/dog wash.
We bought all this stuff! I can’t believe we don’t have any money!
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Found something just for @amy
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What’s going to happen if it doesn’t meet reserve price? Will it just sit in a warehouse until another liquidation company comes along?
Took my inaugural ride on the Rock Lobster to south Brooklyn so I could buy this.
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i am genuinely interested in the inside story of why the pros closet went out of business. i suspect it is full of really dumb decisions.
Probably has something to do with 150 bongs worth of work stands alone.
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From a recent article (The Pro’s Closet closing in Louisville after raising $90M from investors):
Czaja told BusinessDen in January that the company had about 80 employees and raised more than $90 million from investors. Investors included Boulder-based Foundry Group and Ridgeline Ventures, and out-of-state firms Edison Partners and The Chernin Group.
In 2023, Czaja said, the company sold 10,000 bikes, with buyers in every state and Canada. He declined to disclose revenue figures, beyond saying it was in the tens of millions in 2023 and had returned to pre-COVID figures.
I don’t math so good, but 30% on the sale of 10,000 bikes doesn’t seem like “tens of millions”.
ok but that business concept SHOULD work and obviously did for 20 years. part of the reason I’m curious is because fuck private equity bros and partly because it really doesn’t seem like a bad business model
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They bought the whole uline catalog
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Was wondering that myself. Knowing America, probably thrown away or sold for scrap, but maybe there are some bike affiliated liquidators that are offering to buy whatever is left over.
Had I been a former TPC employee, I’d have tried to walk out with one of those stands.
40 bikes a day. Apparently 1bike per mechanic per day. I bike has to pay for 2 people’s salaries per day plus all that equipment and the square footage for all that space and pay back something towards those investments. And you have to keep buying more bikes. Seams like a stretch and that’s the best year you’re ever going to have.
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Also what happens to evt if someone gets ahold of the bulk of those and spends a year or two flipping them into the market
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They’ll move to a subscription/rental model.
If your cc bounces your crank stops cranking
Does Herman Miller make an elevated work platform? The dotcom bust could gauge the companies’ failure on how many Aeron chairs they had.
Aeron chairs don’t have a hyper constrained market and aren’t made in small batches by hand by a family owned business
Tpc had to have been their biggest client ever
i wonder how much of the 90 million went to buying the john prolly website
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