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Business management

Alex Rico-Lloyd on successfully exiting a business

Alex Rico-Lloyd joins Angellica Bell for a raw and honest conversation about building a business then exiting it.

Bike Club was founded in 2016 by Alexandra Rico-Lloyd and her now ex-husband. The business took off in 2020 as family cycling grew in popularity and investments allowed them to spread their wings. Earlier this year Bike Club was officially B-Corp certified, solidifying its position as a sustainable business.

With already over 50,000 members, Bike Club has become one of the world's largest bike rental networks, connecting sustainability-minded consumers.

Alex’s Business Confession

“I started out the business with my boyfriend at the time. And we later got married and had children but now we're getting divorced.

“And I think my big confession is that I think we made very good business partners. But having reflected on the relationship, I think if it wasn't for the business, we possibly never would have got married”.

 

I think we were lucky with the fact that [my husband] had a very particular skill set. I also had a very particular skill set. But coming from very different backgrounds we were able to come together in this kind of almost perfect blend of a co -founding team.

Alex Rico-Lloyd
Co-founder of Bike Club

Alex on the pros and cons of bootstrapping

“When I started the business, I had no clue what bootstrapping was. And we bootstrapped for a few years before  I even learned what it was. Bootstrapping is basically where you kind of fund your own business without getting external investment.

“So, you fund the growth of the business from the revenues that are coming in. We got investment from family and friends, re-mortgaging, credit cards and loans and stuff. And that managed to fund our growth for the first few years. 

“Our growth could have been quicker if we hadn't bootstrapped and if we'd got external investment because we wouldn't have been relying on kind of waiting for some of those memberships to kind of run the course. Second time round, I would probably raise money earlier and do it sooner. Maybe because I have more faith in myself now.”

 

Watch the episode to find out more about Alex’s inspirational business journey.

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