LSM alumnus named one of BCBusiness 30 Under 30

A Q&A with Boris Martin, an alumnus of Langara's School of Management, who was recently named one of BC's top 30 under 30 by BCBusiness magazine. To read the news story, click here.

Quick elevator pitch - what is Velofix?
Velofix is the world’s first, fully integrated mobile bike proshop. Velofix is a unique and convenient business that provides bike service right outside your front door. With a fully integrated online booking system, scheduling appointments is as easy as a few clicks of a mouse. Simply enter your postal code, pick a service and time and Velofix comes to you! Our mobile proshops are equipped with all the tools and parts to fix any kind of bike on site, avoiding any repair downtime. Instead of having to haul you bike down to a shop, drop it off and come back later, Velofix takes care of the hassle by coming to you. With amenities like high speed WiFi, TV, coffee and end-of-service giveaways, Velofix makes getting bike service an experience rather than a chore. Premium service, increased professionalism, and convenience, all at the same price.
 
Where do you see it going?
Velofix launched in Vancouver with one corporate truck. Since then our growth model has evolved, and Velofix is now selling franchises nationwide. We have seen a growth of 400% from year 1 to year 2, and we do not see this growth slowing down in the upcoming years. With the sport of cycling growing faster than ever, Velofix is aiming to have about 40 franchises in Canada and over 400 in the United States
 
When did you first come up with the idea for your business?
As a semi-pro rider and mechanic for nearly a decade, the idea had been festering in my mind for many years. There is so much innovation in our industry - faster bikes, lighter materials – but service has never evolved. I felt there had to be a better way. With the belief that the modern consumer wanted to see something different - and that there was a genuinely large amount of market potential - I began writing a business plan to bring the service side of the industry up to speed.  
 
Were you a student at the time?
Yes! I began drafting the original business plan while doing my BBA at Langara in 2011 to 2012. We incorporated Velofix Holdings Ltd. in October 2012.
 
What was your experience with the Business program at Langara?
I am someone who needs focus and goals; I believe that is the reason why I enjoyed and thrived in the BBA program at Langara. I loved that the courses were all tied together and applicable for the designation. I enjoyed the interactive, smaller class environment, and was always engaged with the professors because many of them were either active, or had been active professionals in their fields. Learning from people with great real-life experience was gratifying and opened my eyes to the possibilities for entrepreneurship.
 
Did your studies help you in starting your business?
Yes! In hindsight, I don’t think I could have started this business without my education at Langara. I always used to joke that I felt like the BBA program was preparing us to be entrepreneurs. The program helped me develop a well-rounded understanding of business and business practices. From accounting to human resources, to forecasting and stats, I’m confident that without my education at Langara, I would not have had the skills and abilities to launch this business with the same success or speed.
 
What have learned and what challenges have you experienced as an entrepreneur?
Be driven by passion, not money or the thought of success. The goal of making money will never be enough to keep you afloat through the absolute storm that is entrepreneurship! You must have genuine drive and motivation outside of monetary success. Entrepreneurship is hard. It can be your best friend and your worst enemy. Your days and nights blend into one, your to-do list is daunting and endless. A strong takeaway that I have from my experience is that entrepreneurship is not a part of your life; it is your life. In some regards, you almost become a slave to your own creation. I'll commonly work 18 hours a day for weeks straight; a 120 hour work week does not leave much time for the things you used to do. Relationships, sports, and other activities will get sacrificed in your pursuit, but it's worth it!
 
Message you would like share to other aspiring young entrepreneurs and current Langara students?
Let your passion guide and motivate you. Surround yourself with the smartest people you can find, work alongside those that are better than you if you want to grow. Calculate everything, but don't over calculate. Trust in your knowledge skills and abilities and don't be afraid to dive into things. Trust yourself and you will come out all right on the other side!