E-BIKES

MAGNUM BIKES
Growth Forged by Unwavering Values

By Erin Dixon | Photography by Spenser Heaps

FROM HUMBLE DOOR-TO-DOOR SALES IN CALIFORNIA, to establishing a home in Salt Lake, Magnum Bikes has ascended to global recognition. The e-bike industry, while burgeoning abroad, was a virtual unknown in the United States until Jesse Lapin and Yoni Kayman came along. 

Magnum’s success story is not just about being in the right place at the right time, but about resilience and an unwavering commitment to quality, family, and mission.

In 2015, Lapin and Kayman tested the then-infantile US e-bike market. They drove “up and down the coast in a truck with bikes” to “scratch the surface” of the market’s potential, Lapin said. This trip laid the groundwork for what would become a decade-long journey of dedication and expansion. 

Finding the right home base was pivotal. “We thought long and hard about where to establish Magnum Bikes,” Lapin said. While Southern California seemed like the logical choice due to its proximity to ports, they ultimately chose Utah, and that decision proved to be a catalyst for success. 

Over the next ten years, Magnum Bikes expanded its Utah headquarters across the Wasatch Front, breaking into major retail chains like Costco, and shipping its bikes around the world. “Utah has supported us every step of the way,” Lapin said. "The mayor rides Magnum bikes, the chief of police rides Magnum bikes." 

A worldwide brand is often synonymous with a decrease in quality to maintain revenue. Too often, “putting the customer first” is just a platitude used to lull the customer into a false sense of security, but Magnum repeatedly fuels words with action.

“We’ve never found ourselves in a sticky recall or had to go back and look at the product,” Lapin said proudly. This is no accident. “We have our own quality control in the factory as it’s being produced,” Kayman said, “supported by product experts.”

Their meticulous, hands-on approach is not only building business, but a product that stands up to the rugged business trail. They determined early on that the look and features of the product were going to improve reliability and customer satisfaction. “We've invested in the design and the components,” Kayman said. “We've thought of small details. That’s our focus — to bring something that’s synonymous with excellence, innovation, value and a fantastic customer experience.”

Magnum's growth, however, was not without its trials. The COVID-19 pandemic inflated their success. “People wanted to connect on a healthy level. They felt like they had disposable income, wisely or unwisely,” Lapin reflected. “They wanted something they could bring home.” Though rapid growth drove short-term sales, it ultimately jeopardized the business’s long-term stability. They found themselves scrambling at times to scale up and stockpile inventory, Lapin explained, just to keep pace with demand. They realized the need to stabilize production and growth for long-term sustainability. “We had to get back to a comfortable and healthy place as a company.” 

“The challenges are not only on the outside, but inside,” Kayman acknowledged. They believe their success was a consequence of their interpersonal connection, reliance on each other and mutual values like family and integrity. “Perseverance, commitment to your values, your commitment to your mission,” Kayman shared, is what carried them through the hardest times. Both were raising young families while launching the company, often sacrificing precious time with their loved ones to build the business. However, their 20 years of friendship has been a personal blessing as well as a professional advantage.  

“It's not just a matter of the hard skills you have,” Kayman revealed. “The synergy that you have is probably more important when you're working with somebody on an executive level — building something, creating something. You have to be able to work together with that person. Your strengths and weaknesses have to complement each other as opposed to conflicting with each other.”

They decided early on to rely on the value of their product as their safeguard. This meant they were free to make the decisions they thought were best for their customers, not just their investors. For better or worse, it also meant they were entirely self-reliant. “No one was going to come rescue us. We didn’t have this private equity firm to lean on. It was us digging ourselves out of certain spots,” Lapin explained. 

In a world where many companies sacrifice integrity for scale, Magnum Bikes stands apart. “Starting a business is not easy,” Kayman emphasized. “The company is now run based on a more corporate and more professional approach, but really holding on to our culture and values.”

Their commitment to value, customer-centric thinking, and long-term vision is what has carried Magnum through their formative years. Many similar e-bike brands have come and gone, while Magnum persists. They don’t cut corners or sacrifice stability for a quick profit.

While they continue to expand nationally and globally, Utah will remain their trailhead. “We love being involved in Utah,” Lapin said. “I think it will always be home for our company. 

Magnum Bikes is a homegrown Utah company, and it's not going anywhere, anytime soon.”