Business
Cycle Solutions rides the wheel of success - Peter Ollerhead wins BDC's Young Entrepreneur Award for Newfoundland and Labrador
Cycle Solutions rides the wheel of success - Peter Ollerhead wins BDC's Young Entrepreneur Award ...
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[{"type":"text","content":"\n\n\n\nOct. 20, 2009 (Canada NewsWire Group) -- CORNER BROOK, NL, Oct. 20 /CNW Telbec/ -- A summer job assembling bikes started avid cyclist Peter Ollerhead, 28, on the route to entrepreneurship. Today, he is pursuing his dream of making a career out of his favourite sport with Cycle Solutions, a thriving cycle, cross-country ski and snowshoe shop that employs up to 19 people and has grown to include a specialty coffee shop. In recognition of his business's steadily growing success, Peter has won BDC's Young Entrepreneur Award for Newfoundland and will be honoured tonight at a ceremony in Ottawa.Seven years ago, while he was a university student, Peter created a summer job for himself building bikes and doing bike warranty work for big box stores. \"I realized there was potential to do something more,\" he explains. \"The next year we opened a bike shop. We kept looking at the next level and growing from there.\"Growth and community involvementToday, Cycle Solutions attracts customers from right across the province and beyond with its full range of services, which include equipment sales and rentals, four-season group events and tourism experiences. Through aggressive promotion with regional tourism resorts and businesses, the touring aspect of Cycle Solutions has really taken off in the last year. The business has also remained true to its roots, continuing to work in partnership with big box stores, assembling not only bikes but also a wide range of other in-store sports merchandise.Its distinctly community-oriented focus makes the business unique. \"We believe in building our customer base by increasing the number of people who participate in sports,\" explains Peter, who organizes events such as triathlons, cycling races and community snowshoeing at a rate of one event a week. The store is also an active member of various local business associations. Staff members teach bike maintenance and safety courses, and visit local schools to provide motivational talks on healthy lifestyles. They are active with local non-profit groups, and offer youth internships and programs.Two years ago, Peter purchased a building and moved his business to West Street. \"That's when I decided to open Brewed Awakening, our specialty coffee shop.\" Originally conceived as a means of driving more traffic to the shop, Brewed Awakening has itself beco...