Past Speaker: Startup Junkie Underground

SPEAKER: Steve Meyer – Founder and CEO Mainstreet Pedicab
DATE: August 20 & 22, 2007
TOPIC: Peddling Your Way to Success – The Mainstreet Pedicab Story

Pedicabs are human-powered taxis seen in many of the major cities around the world. They work well for not only transporting people, but also for the delivery of food and merchandise.

In a world that is becoming overwhelmed with too many cars, pedicabs offer a green and sometimes romantic alternative. While they work best over short distances ranging from 2 to 10 blocks, they are fully capable of traversing much greater distances.

Steve Meyer didn’t invent the pedicab, but he is in the process of perfecting the marketplace for it. With multiple income streams and a loyal following, the pedicab industry is breaking into new territory.

Here is what it took for Steve Meyer to become one of the leading figures in the pedicab industry, and how Donald Trump had a hand in his success.

Speaker: Steve Meyer is the Founder and CEO of Mainstreet Pedicab in Broomfield and has worked most of his professional life self-employed, interspersed with periods of employment.

He attended the University of Colorado from 1972 trough 1979 getting both a BA in Environmental Biology and an MA in Economics. He spent more than a year of this time traveling in S. America, Asia, Europe and Africa.

For many years, Meyer worked in the real estate industry doing economic and market research for real estate developers. His interest in the redevelopment of downtown areas and his experiences in Asia were key factors in his development of Main Street Pedicabs. Main Street was founded in 1992 and is the largest manufacturer of this type of vehicle in N. America.

Tags: America, Colorado, DaVinci, davinci institute, donald trump, Main Street, Main Street Pedicabs, manufacturer, multiple income streams, Press Releases, professional life, SPEAKER, Speaker Steve Meyer, steve meyer, Steve Meyer - Founder, Story, success speaker, taxis, Transport, university of colorado, Your Way

Apr 19th 2007 | DENVER, LONDON AND NEW YORK
From The Economist print edition

Regulation threatens a booming business with, er, a cyclical downturn

AP

A PEDICAB borrowed from a friend for a conference on pedestrianisation in 1990 got Steve Meyer pedalling what is now a fast-moving business. Hoping to liven up the often-deserted streets of downtown Denver, his hometown, he bought two of the bicycle taxis. But they did not work very well, so he started building what has since become the industry standard, with 21 gears, hydraulic brakes and so on. His firm, Main Street Pedicabs, now caters to rising demand both in America and abroad.

Alas, regulation in two of the biggest markets for pedicabs threatens to puncture Mr Meyer’s upbeat mood. Last month New York’s city council voted to impose onerous rules on the hitherto unregulated pedicab industry and to limit the number of pedicabs to 325. A protest prompted Michael Bloomberg, New York’s mayor, to veto the new rules, apparently out of entrepreneurial fellow feeling for the pedicab drivers, but the city council is likely to override his veto, perhaps as soon as next week.

Pedicabs first started operating in New York in the mid-1990s, but their numbers soared from around 100 to over 500 after they featured in an episode of Donald Trump’s business reality-television contest, “The Apprentice”, in 2004. For the sort of fit youngster who wants a flexible job—many drivers in New York are actors or students—it pays well: $300 on a good day, though typically half that. The cost of entry is low, perhaps $4,500, compared with $400,000 for a yellow-taxi medallion.

Pedicabs are under attack in London, too, where an estimated 400 operate. Transport for London, a regulatory body, is reviving its controversial claim that pedicabs should be regulated as “hackney carriages”, like the city’s black cabs. Chris Smallwood, chairman of the London Pedicab Operators Association and boss of Bugbugs, a 60-strong pedicab firm, says treating pedicabs like black cabs would impose unbearable costs on the industry. He has helped to draft an amendment to a bill now before the House of Lords that would introduce lighter pedicab regulations.

There is striking agreement between the pedicab trade groups in both London and New York that some sort of regulation is needed, not least to deter rogue operators. But current proposals seem to serve the interests of motor-taxi drivers, who want their rivals off the road.

The irritation is that pedicabs do not compete much with motor-taxis, say Messrs Meyer and Smallwood. Pedicab journeys tend to be the short trips that drivers of gas-guzzling taxis hate most. Pedicabs’ main competition is walking, says Mr Meyer, who points out that if New York’s 12,000 yellow cabs were replaced with pedicabs, “there would be a lot less congestion”. Here’s hoping that politicians on both sides of the Atlantic cast their votes for pedal power.

Copyright © 2007 The Economist Newspaper and The Economist Group. All rights reserved.

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Denver Business Journal – by Tom Locke Denver Business Journal

In the old fishing villages on the southeast coast of Spain, the streets are narrow, the parking is atrocious and the tourists are plentiful.

But for tourists who are too tired and sweaty to take another step under the hot Spanish sun, there is relief, thanks to a little Broomfield company that is bridging the walker-automobile transportation gap with something called a “pedicab.”

On a recent morning in March, a dozen or so yellow pedicabs lay ready for shipment to Spain in the small warehouse of Main Street Pedicabs Inc., a company that has championed pedicabs for more than a decade under the leadership of its owner and CEO, Steve Meyer. “We’re not only building pedicabs, we’re building a pedicab industry,” Meyer said.

Meyer said he stuck with pedicabs while others might have given up because he and his wife, Ruth Vanderkooi, simply love the business. And that’s even though they make less than they would if they were fully employed somewhere else, he said.

Meyer has a background in urban planning, and sees himself as sort of a champion of an alternative form of transportation that can add excitement and utility to boring cities dominated by automobiles.

So, thanks in part to supplemental income earned by his wife and to real estate development projects on the side, Meyer has persevered in the pedicab business and figures he’s easily the biggest pedicab manufacturer in the United States.

(more…)

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