Meet the Bike Entrepreneurs Helping to Rebuild Detroit’s Economy

The founder of Fossil Inc. has chosen a New Center [neighborhood] site to make bicycles and watches and is close to signing a lease agreement to sell those goods in a West Canfield Street retail shop in Detroit’s Midtown, according to three sources familiar with the dealings.

[Fossil founder Tom] Kartsotis commissioned a study of pens in which subjects were asked if they prefer pens made in China, the USA or Detroit at price points of $5, $10 and $15 respectively. “People picked the Chinese pen over the USA pen because it was cheaper,” he said. “But when offered the Detroit pen, they were willing to pay the higher price point.”

Jon Hughes sees a lane of opportunity in Detroit. As the owner of Downtown Ferndale Bike Shop, he would like to sign a two-month lease in Detroit for space where he can test the urban trails and side streets for interest by city residents and workers in a full-service, cycling aficionados store.

Detroit Deputy Mayor Kirk Lewis admits he’s never noticed the pedicabs, but said it’s a great idea for a new business that can help the city through its transformation. “As we get more people in the downtown and Midtown areas, you’re going to see more opportunities for the entrepreneurial types in the city,” he said. “We want to have people engaging themselves in Detroit and having fun and enjoying the city.”

Shayne O’Keefe may not envision himself a businessman, but the 29-year-old drummer for a punk rock band just might be in denial. That’s because a simple idea a few years ago that would allow O’Keefe to pay his rent on Fourth Street in Midtown Detroit and maybe go on tour here and there with his band, Noman, now supports not only him, but five of his friends as well.