HomeGermany-StartupsRiding towards success: Interview with Theo Golditchuk, Co-founder at buycycle

Riding towards success: Interview with Theo Golditchuk, Co-founder at buycycle

The cycling industry is seeing increased interest in the pre-owned bike market, as more people look for affordable and sustainable options. Cycling enthusiasts are turning to second-hand bikes for their quality and cost-effectiveness, driving growth in platforms that facilitate easy and secure transactions. This shift is making cycling more accessible to a wider audience.

Buycycle, founded in Munich in 2021, caters to this demand by providing a marketplace for buying and selling pre-owned bikes. With a focus on making the process simple and secure, Buycycle offers a curated selection of road, gravel, mountain bikes, and more. The platform ensures buyer protection, certified sellers, and insured shipping to give users peace of mind when making purchases.

For this interview, we spoke with Theo Golditchuk, one of the co-founders, who has helped shape the platform to address the needs of the cycling community. We discussed the inspiration behind Buycycle, the challenges of building trust in the second-hand market, the company’s strategies for international growth, the role of technology in shaping the future of cycling, and much more. Let’s get right into it!

How did you come up with the idea for Buycycle, and what inspired you to focus on the pre-owned bike market?

The idea for Buycycle was born out of a shared love for cycling. As the demand for high-quality bikes increased, it became evident that many cycling enthusiasts were being priced out. Focusing on pre-owned bikes seemed like the perfect solution—not only did it make premium bikes more affordable, but it also aligned with growing sustainability concerns. On a personal level, frustrations with the existing second-hand market—particularly issues around security, transparency, and logistics—highlighted the need for a more reliable and user-friendly platform, inspiring the creation of Buycycle.

What were the biggest challenges in the early stages of building Buycycle, and how did you overcome them?

One of the biggest challenges was building trust. People are understandably cautious when buying second-hand bikes, especially high-end models, due to concerns about quality and safety. To address this, the focus was placed on creating a secure platform with strong customer support. Handling issues quickly, actively engaging with feedback, and continuously improving the user experience were critical to overcoming these hurdles.

Another key challenge was attracting sellers to the platform. We concentrated much of our early strategy on encouraging sellers to list their bikes, and over time, this paid off. This year, we’ve surpassed 26,000 bikes uploaded on the platform, which has given us a fantastic range of options and helped us establish buycycle as a reliable marketplace for pre-owned bikes.

You have raised a significant amount of funds. What advice can you share with entrepreneurs on securing funding and building relationships with investors, especially in a niche market such as second-hand bikes?

It’s essential to have a clear vision that differentiates your business from the competition. Investors need to see why your approach is unique and what value it brings. Transparency is also key—sharing both successes and challenges builds trust with investors. Beyond vision and transparency, execution is what truly convinces investors. Solid performance metrics and growth potential back up your strategy, making it easier to secure funds. Finally, working with investors who understand the market can be incredibly helpful, as their expertise can accelerate growth.

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What are some of the biggest challenges facing the cycling industry today, particularly in the pre-owned market?

  • Building trust: People are often hesitant to purchase second-hand bikes due to concerns about quality, safety, and the risk of fraud. Ensuring transparency in listings, verifying the condition of bikes, and offering secure transactions are essential to overcoming these barriers.
  • Logistics: Shipping a high-end bike securely and efficiently, particularly across borders, can be difficult and costly. Addressing these logistical issues while keeping costs down is crucial to making the pre-owned market more accessible to buyers worldwide.
  • Sustainability: As more people become environmentally conscious, there’s pressure on the industry to promote and support more sustainable practices, and the pre-owned market has a key role to play in this shift by extending the lifecycle of bikes.

How do you see technology shaping the future of the cycling industry? Are there any trends or innovations you’re particularly excited about?

Technology is set to revolutionize the cycling industry, especially in the pre-owned market. The rise of online marketplaces has made it easier for buyers and sellers to connect globally, and advancements in digital platforms allow for more seamless transactions and inventory management. Innovations in bike security, such as GPS tracking and smart locks, are also exciting developments that can enhance trust and deter theft. Moreover, data analytics is helping companies like Buycycle better understand customer preferences, allowing for more tailored offerings that meet the needs of a growing community of cyclists.

With Buycycle expanding into new markets like the U.S., what are the key strategies you focus on for international growth and market adaptation? What are the key differences you’ve noticed between the European and U.S. markets?

International expansion is driven by replicating the European model while adapting to local market conditions. Since entering the U.S. market in 2023, over 15% of Buycycle’s inventory now comes from the U.S., with California, New York, and Texas being top regions. Highlighting the sustainability aspect of pre-owned bikes has been a key part of the strategy, especially as urban areas embrace cycling as a mobility solution. One of the most noticeable differences between the European and U.S. markets is consumer behaviour. American buyers tend to be more price-sensitive, which reinforces the need to offer high-quality, affordable options.

What advice would you give to companies trying to foster trust and transparency in online marketplaces, particularly when it involves high-value items like bikes

Clear and detailed product listings are essential to building trust. Providing high-quality images and accurate descriptions gives buyers confidence in what they’re purchasing. Implementing robust verification processes to authenticate sellers and ensure the quality of items is another critical step. Finally, maintaining transparent communication about fees, policies, and returns helps create a credible and trustworthy platform.

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For readers looking to turn their passion—whatever that may be—into a business or side hustle, what are some practical first steps they can take?

Start by understanding your audience. Dive into their needs, challenges, and preferences, then test your ideas with a small project or pilot program. This will allow you to gather valuable feedback and refine your offering. Taking calculated risks is also crucial—bold moves are often what turns passion into a successful venture. Above all, stay committed to your vision and remain adaptable as you grow.

If you could share one lesson from your journey at Buycycle with aspiring entrepreneurs, what would it be?

Building a business is full of ups and downs, but staying committed to your vision and learning from every experience is key. Don’t be afraid to make mistakes—they’re part of the process. The important thing is to keep moving forward and adapt as challenges arise.

Every business has its ups and downs. What tips do you have for staying motivated and pushing through tough times?

During tough times, it’s essential to reconnect with your passion and remind yourself why you started in the first place. Break down big challenges into smaller, manageable tasks to avoid feeling overwhelmed. Surrounding yourself with a supportive network of friends, colleagues, and mentors can also help provide the encouragement and perspective needed to stay motivated.

To close this interview, what’s next for Buycycle? What is your vision for the company and its services?

We’re experiencing strong growth, with increasing trust in our platform helping us build lasting relationships with sellers, many of whom return as buyers. Our focus is on connecting the cycling community globally by offering a reliable and secure marketplace. Looking ahead, we’re excited to announce that we’ll be expanding our product range later this year. Our vision is to continue fostering a trusted community while enhancing our offerings to cater to the diverse needs of cyclists worldwide.

Antonio L. Escárzaga
Antonio L. Escárzaga
Antonio López Escárzaga is the Head of Content at EU-Startups, with a background in Digital Marketing, Antonio drives his passion for effective communication and entrepreneurship. He firmly believes in communication’s transformative power and strives to harness it to foster growth and innovation.
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