Business management

Alex Rico-Lloyd on successfully exiting a business

Alex Rico-Lloyd joins Angellica Bell for a raw and honest conversation about building a business then exiting it.

07 Nov 2023 . 1 minute read

Co-founder of the now international business Bike Club, Alex has done it all. From starting the club as a side hustle to quitting her job, then seeing the business through investment rounds, then successfully exiting.

Bike Club was founded in 2016 by Alexandra Rico-Lloyd and her now ex-husband. The business took off in 2020 as family cycling grew in popularity and investments allowed them to spread their wings. Earlier this year Bike Club was officially B-Corp certified, solidifying its position as a sustainable business.

With already over 50,000 members, Bike Club has become one of the world's largest bike rental networks, connecting sustainability-minded consumers.

Alex’s Business Confession

“I started out the business with my boyfriend at the time. And we later got married and had children but now we're getting divorced.

“And I think my big confession is that I think we made very good business partners. But having reflected on the relationship, I think if it wasn't for the business, we possibly never would have got married”.

I think we were lucky with the fact that [my husband] had a very particular skill set. I also had a very particular skill set. But coming from very different backgrounds we were able to come together in this kind of almost perfect blend of a co -founding team.

Alex Rico-Lloyd

Co-founder of Bike Club

Alex on the pros and cons of bootstrapping

“When I started the business, I had no clue what bootstrapping was. And we bootstrapped for a few years before I even learned what it was. Bootstrapping is basically where you kind of fund your own business without getting external investment.

“So, you fund the growth of the business from the revenues that are coming in. We got investment from family and friends, re-mortgaging, credit cards and loans and stuff. And that managed to fund our growth for the first few years.

“Our growth could have been quicker if we hadn't bootstrapped and if we'd got external investment because we wouldn't have been relying on kind of waiting for some of those memberships to kind of run the course. Second time round, I would probably raise money earlier and do it sooner. Maybe because I have more faith in myself now.”

Watch the episode to find out more about Alex’s inspirational business journey.

play button

Want to listen instead?

Get a new episode weekly on Spotify, Apple Podcasts, Acast and other major podcast platforms.

Please note that the views and information have not been endorsed, issued or approved by NatWest. Any views expressed in this podcast are not necessarily those of NatWest.

Learn more about The NatWest Business Show

Find more information, and episodes as they become available, on the hub.

Visit The NatWest Business Show hub

Choose the content you want

Get business inspiration and practical tips straight to your inbox

Update your preferences

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

All Business show articles