The Pro’s Closet’s warehouse and store in Louisville. (Courtesy The Pro’s Closet)
Jon Czaja thinks there should be a used bike market similar to used cars.
That’s what Louisville-based The Pro’s Closet is trying to create, said Czaja, who took over as CEO of the company in September. The company closed another funding round this month.
Jonathan Czaja
“We’re helping these bikes have new owners and live to fight another day and not necessarily clog up a landfill somewhere,” Czaja said.
Founded in Boulder almost 20 years ago by pro-mountain biker Nick Martin, The Pro’s Closet buys used high-end bikes directly from owners and refurbishes them before reselling them.
“If you’re trying Craigslist or Facebook Marketplace, you never quite know what you bought and what you’re getting until you get home and ride it,” Czaja said. “And even then it’s hard to tell.”
Pro’s Closet raised $20 million last week — $14.5 million of which was converted capital, Czaja said, and $5.5 million new. Investors included Boulder-based Foundry Group and Ridgeline Ventures, and out-of-state firms Edison Partners and The Chernin Group.
Since inception, Czaja said, Pro’s Closet has raised more than $90 million. Last year, the company sold 10,000 bikes, with buyers in every state and Canada. He declined to disclose revenue figures, beyond saying it was in the tens of millions last year and has returned to pre-COVID figures.
Pro’s Closet moved to a 130,000-square-foot warehouse, which also has retail space for people to test-ride bikes, in Louisville about two years ago. Czaja said the space is another fun part of the business, with bikes everywhere, even hanging from the ceilings.
“We’re doing a big chunk of our sales essentially out of our retail store, in a warehouse, in an industrial park,” he said. “People walk in here and can’t believe (it).”
He said Pro’s Closet has more than 100 brands in stock, and roughly 500 bikes available for test rides on any given day. Visiting the store isn’t a requirement; many sales took place online. Bikes range anywhere between $2,000 and $14,000, which Czaja noted is usually about 30 percent less than what they would cost new.
Long term, Czaja said he could see opening more stores, but right now the business is riding a slowdown post-COVID, when bike sales boomed.
“Everyone wanted a bike during COVID because they were all trapped inside in Zoom calls and wanted to get out and experience the outdoors – the entire industry had this growth,” he said.
Before joining Pro’s Closet in the fall, the Minnesota native was chief operating officer of the Denver software company Skupos, which was acquired by PDI Technologies. He moved to Colorado four years ago from California.
Czaja took over as CEO from John Levisay, who held the position for three years.
While he doesn’t consider himself an intense cyclist, Czaja said he first got into it 25 years ago, when he was in high school. Now he mostly rides on the weekends and with some of Pro’s Closet’s other 80 employees, but called riding his “happy place.”
“It’s fun to be in a business where everyone is so passionate about what we’re selling,” Czaja said.
The Pro’s Closet’s warehouse and store in Louisville. (Courtesy The Pro’s Closet)
Jon Czaja thinks there should be a used bike market similar to used cars.
That’s what Louisville-based The Pro’s Closet is trying to create, said Czaja, who took over as CEO of the company in September. The company closed another funding round this month.
Jonathan Czaja
“We’re helping these bikes have new owners and live to fight another day and not necessarily clog up a landfill somewhere,” Czaja said.
Founded in Boulder almost 20 years ago by pro-mountain biker Nick Martin, The Pro’s Closet buys used high-end bikes directly from owners and refurbishes them before reselling them.
“If you’re trying Craigslist or Facebook Marketplace, you never quite know what you bought and what you’re getting until you get home and ride it,” Czaja said. “And even then it’s hard to tell.”
Pro’s Closet raised $20 million last week — $14.5 million of which was converted capital, Czaja said, and $5.5 million new. Investors included Boulder-based Foundry Group and Ridgeline Ventures, and out-of-state firms Edison Partners and The Chernin Group.
Since inception, Czaja said, Pro’s Closet has raised more than $90 million. Last year, the company sold 10,000 bikes, with buyers in every state and Canada. He declined to disclose revenue figures, beyond saying it was in the tens of millions last year and has returned to pre-COVID figures.
Pro’s Closet moved to a 130,000-square-foot warehouse, which also has retail space for people to test-ride bikes, in Louisville about two years ago. Czaja said the space is another fun part of the business, with bikes everywhere, even hanging from the ceilings.
“We’re doing a big chunk of our sales essentially out of our retail store, in a warehouse, in an industrial park,” he said. “People walk in here and can’t believe (it).”
He said Pro’s Closet has more than 100 brands in stock, and roughly 500 bikes available for test rides on any given day. Visiting the store isn’t a requirement; many sales took place online. Bikes range anywhere between $2,000 and $14,000, which Czaja noted is usually about 30 percent less than what they would cost new.
Long term, Czaja said he could see opening more stores, but right now the business is riding a slowdown post-COVID, when bike sales boomed.
“Everyone wanted a bike during COVID because they were all trapped inside in Zoom calls and wanted to get out and experience the outdoors – the entire industry had this growth,” he said.
Before joining Pro’s Closet in the fall, the Minnesota native was chief operating officer of the Denver software company Skupos, which was acquired by PDI Technologies. He moved to Colorado four years ago from California.
Czaja took over as CEO from John Levisay, who held the position for three years.
While he doesn’t consider himself an intense cyclist, Czaja said he first got into it 25 years ago, when he was in high school. Now he mostly rides on the weekends and with some of Pro’s Closet’s other 80 employees, but called riding his “happy place.”
“It’s fun to be in a business where everyone is so passionate about what we’re selling,” Czaja said.
