Story about Bicycle Industry doing well in this economy

Pete Kocher and Jessica Murray, started the bike shop, Ride Brooklyn, during a bad recession and against better judgment. Seems like business is doing great, not only in NYC but around the country.

Here is a story from which I overheard this morning.

But also how the bicycle industry is booming.

Cycling = Ka-Ching!
Growing Culture of Commuting on Two Wheels Drives Up Bicycle Sales
by Ilya Marritz

NEW YORK, NY November 10, 2009 —An economy that’s headed downhill is not a good thing. But a bicycle going downhill picks up speed. And the bicycle business has been up in the past year. As WNYC’s Ilya Marritz reports, it’s counter-cyclical.

REPORTER: Starting a business last spring was a foolish thing to do, and Pete Kocher knew it. The bank told him so.

KOCHER: They’re like, oh you guys aren’t gonna be able to get a loan.

REPORTER: But rather than accept a bank’s assessment that a new bike shop in Park Slope was likely to fail, Kocher decided to move ahead. He hit up friends and relatives for money, and put everything else he needed on plastic.II

Get the rest of the story here.

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