A Bristol-based bike part manufacturer, which secured funding on the BBC’s Dragons’ Den , has forecasted sales of £20m in the US over the next five years after experiencing a cycling resurgence stateside during the pandemic.
Tru Tension, founded in 2015 by motorsport engineering graduate Chris Frappell, has seen online sales to the US of its maintenance products for bicycles, motorcycles, and karts grow by 250% over the past year.
The business has developed a range of tools including the Chain Monkey, a device which allows cyclists and motorcyclists to correct chain tension to improve riding performance as well as prolong sprocket and chain life.
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Mr Frappell, from Nailsea in North Somerset, pitched the company to the 'Dragons' in 2018, successfully securing £75,000 from retail entrepreneur Touker Suleyman.
The company has gone on to establish itself in international markets, with exports accounting for 25% of its total revenue. It has secured deals with retailers in France, Germany, Scandinavia, and Greece.
Despite the company's exports slowing during the coronavirus pandemic, its online export sales have more than tripled over the last year, maintaining the company’s growth.
Tru Tension previously received grants from the Department of International Trade (DIT) to fund participation in overseas trade shows and workshops focused on breaking into the US market.
Mr Frappell said the DIT had been “hugely” supportive in helping to establish the brand abroad and urged other businesses to consider exporting their products “as quickly as possible.”
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He said: “Domestic is great, but the international market is the slower burning but potentially more profitable side of the business. You can get big orders a few times a year with international trade which can really help your company grow.”
It comes as research suggests that cycling in the US has increased during the pandemic, with people spending more time outdoors.
Riders on cycling paths in the US increased three-fold in 2020 from the same period the year before, according to the Rails-to-Trails Conservancy, an organisation that works to transform unused railway tracks into cycle trails.
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Meanwhile research from US cycling group People for Bikes found that one in 10 American adults reported having ridden a bike for the first time in a year since the onset of Covid-19.
Paul Shand, head of trade for DIT in the South West said Tru Tension’s success demonstrated there is “strong demand” for 海角视频 goods overseas.
Mr Shand added: “Trade will play an important role in getting our economy back on track and Tru Tension is a great example of how companies can look to lucrative overseas markets to boost their sales whilst creating more jobs.”