We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Big Shot makes and sells single-speed and fixed-gear road bikes, including custom versions, in addition to the cruiser bikes. Founded in 2009, the company has grown steadily, selling about 4,200 bikes in 2013. Owner Matt Peterson said he’s projecting about 4,500 sales this year.
“If we wanted to continue to grow, we would need to expand,´ said Peterson, a former software engineer for Qwest. “So our lease was coming due, and I saw the opportunity to add the additional space.”
Big Shot has been at its current location for three years. Its additional space was most recently used for storage by Custom Blending, a provider of seasonings and flavorings for the food industry.
DLD Real Estate Holdings LLC owns the building, and was represented by Nate Heckel of Cassidy Turley and Matt Patyk of CBRE in the new Big Shot lease. Josh Guernsey of Brinkman Partners represented Big Shot.
Big Shot assembles all of its bikes at its headquarters and does most of its sales direct to consumers, though the company’s bikes are also sold by about 300 bike shops nationwide.
The privately held company doesn’t disclose revenue figures. Big Shot employs four people full-time but will soon be adding seasonal staff.
Given that bike-buying season was slowing down when Big Shot’s cruisers launched last fall, Peterson is anxious to see what lies ahead this summer.
“It was a bad time to launch, so this year really is the first year of selling it and seeing it perform,” Peterson said. “This will be the first true test this summer of the market.”