A economic sciences student with a minor in entrepreneurshipLast January, Shane channeled his inner Mark Zuckerberg and founded Vulture Bikes LLC, a used bike company with prices ranging from $50 to over $300. The bikes he sells are about a quarter of the price of a new one of the same model. Shane and his team, including Eckerd Economics and environmental studies Matteo Morello, a senior who grew up with Shane in Wilton, regularly travels to pawn shops throughout the Tampa Bay area. Shane’s 2002 Ford Ranger pickup truck holds nine bikes in the back.
What you buy is taken to a rented warehouse near campus. Shane sells about 20 bikes a week (cash only) and almost all sales are made through Facebook Marketplace or the Vulture Bicycles website.
“Last weekend I bought two Giant road bikes for $400,” Shane said recently. “I already sold one for $330. With high-end bikes, I can make between $80 and $100. I inspect bikes and make repairs. Most of them just need a new tube or a minor brake adjustment. We are not bicycle mechanics. But no one ever asked me to bring a bicycle. And if they did, I’m sure we could work something out.
“No, getting people to the storage unit is the hardest part.”
Why do you spend hours each week checking inventory and cash flow and doing dozens of other things necessary to maintain two businesses, including managing Write a blog every week about them.?
“I don’t know why I like it,” Shane responds. “I’m trying to figure that out. With so many kids and so many of my friends trying to get internships and jobs, I find it more interesting and rewarding to do something different for myself. I also like that you don’t have to start with much of anything. I started Vulture Bikes with two bikes that cost me $40. And I started Glizzy Guys with an old grill and $100 in food supplies. The experiment and play aspect is really fun.