MAGNUM BIKES

Most businesses don’t start with someone falling off a cliff. But for Jesse Lapin, co-founder of Magnum Bikes, a dramatic tumble down a mountainside in Israel turned out to be an unlikely beginning.

Jesse had been hiking with a tour group on the historic site of Masada when he lost his footing and fell, breaking his leg in two places. “I snapped my fibula and tibia clean in half,” he recalls. The experience landed him in an Israeli hospital for weeks, giving him plenty of time to reflect on his life’s path. Soon after his release, an old friend, Yoni Kayman, showed up at the hospital to lift his spirits. Little did they know, this friendship would lead them both on a new journey — this time on two wheels, not down a cliff, but along the coast of California, where they would kick start their future in the electric bike industry.

The idea for Magnum Bikes didn’t spring from a corporate boardroom or an investor’s desk; it grew from Jesse’s and Yoni’s shared love for travel, adventure, and the outdoors. While e-bikes had already become popular in Europe, the U.S. market was largely untouched. “In the States, nobody really knew what an e-bike was at that time,” Jesse explains. “We saw an opportunity to bring something different to the table, to change how people thought about transportation.”

The initial push was gritty and grassroots. In 2015, armed with a handful of prototype bikes, Jesse and Yoni set off on a road trip up and down California’s coast. They visited bike shops, struck up conversations with local shop owners, and took every opportunity to show people their bikes. “Those were early hustle days,” Jesse laughs. “We were still figuring out if the market was even ready for this.” But the timing was perfect. People were intrigued and excited by the prospect of an electric bike, and Jesse and Yoni quickly realized that they were riding the wave of a new trend.

Building Magnum Bikes in Salt Lake City

Jesse and Yoni decided to set up shop in Salt Lake City, a place that perfectly reflected their values and lifestyle. Jesse had roots in Utah, and they both saw the state’s active, outdoor-loving community as the ideal home base for Magnum Bikes. They chose Utah not just for its scenic beauty, but also because of the local culture’s blend of adventure and innovation. “Salt Lake City has this spirit that just matched what we wanted Magnum to be — a brand that people could trust, with products people would rely on for their adventures,” Jesse says.

It was here, in a modest office space, that the two began turning their idea into a company. They wanted to be more than just another bike brand; they wanted Magnum to represent reliability and quality in an industry that, at the time, was known for inconsistencies. “A lot of our competitors were overseas, without any real presence or customer support in the U.S.,” Jesse explains. “We wanted Magnum to be a brand that felt local and accessible, something people could feel confident about.

Resilience in the Face of Adversity

Magnum Bikes grew quickly, but not without its fair share of challenges. By 2020, they were riding high, with strong sales and plans to expand. Then the COVID-19 pandemic hit hard. Suddenly, supply chains were disrupted, shipping costs skyrocketed, and their entire operation was thrown into uncertainty.

“At first, we were worried,” Jesse admits. “We didn’t know if we could survive this.” But instead of folding under the pressure, Jesse and Yoni took a different approach. They diversified their production lines, established new relationships with suppliers, and placed a quality control team in China to maintain their standards as demand for their bikes surged.

Ironically, the pandemic led to an unexpected spike in demand for e-bikes. People, desperate for a safe and socially distanced way to get outdoors, began flocking to e-bikes as a way to explore their neighborhoods and stay active. “The demand shot up because people wanted to get out, but they also wanted to stay safe,” Jesse recalls. “E-bikes became this bridge — something that felt normal during such an abnormal time.”

Strengthening Local Connections

Throughout their journey, Jesse and Yoni kept their eyes on the local community. Salt Lake City wasn’t just Magnum’s headquarters — it was the beating heart of the brand. They opened several retail stores across Utah, allowing customers to test out bikes, get repairs, and connect with Magnum’s team in person. Their Park City store, which opened in 2022, is a standout location, offering snow-bike rentals for use on the city’s scenic winter trails.

“Opening these stores lets us really connect with people,” Jesse says. “We get to see the joy on their faces when they try a bike for the first time. It’s not just about selling bikes; it’s about bringing people into the Magnum family and making biking a lifestyle.”

Magnum’s stores are more than retail spaces — they’re community hubs that reflect the brand’s commitment to making a difference locally. By offering everything from fat-tire bikes for snowy trails to compact city bikes, Magnum has created a lineup that’s tailored to Utahns’ diverse needs. “We’re known for having one of the most extensive lineups out there,” Jesse explains. “Whether you’re commuting or exploring, there’s a Magnum bike for you.”

Taking Magnum to New Heights with Costco

In 2024, Magnum celebrated a major milestone by securing a partnership with Costco, bringing their bikes into 300 stores nationwide. The partnership was a game-changer, but one that came with unique challenges. “There’s a lot of trust when you go into Costco,” Jesse notes. “It’s not just about getting a good deal — it’s about knowing you’re getting quality. We went through a rigorous vetting process, and when we finally got into 300 stores, we sold out within weeks.”

Costco’s customers, eager for quality and value, embraced Magnum with open arms, validating the company’s focus on building a trusted, reliable brand. For Jesse, it was a proud moment. “We’re still that company that started out of a small office in Utah, but now we have a national presence,” he says. “It’s rewarding to see how far we’ve come.”

A Vision for a Greener, Healthier Future

As Magnum Bikes grows, so does Jesse’s commitment to making a positive impact. Magnum’s e-bikes offer a viable alternative to short car trips, helping reduce emissions and promoting sustainable living. “I think e-bikes have the power to change how we live,” Jesse says. “It’s not just a trend. It’s about making a positive impact, whether that’s by giving someone a way to get to work without a car or helping families spend more time outdoors.” 

For Jesse and Yoni, Magnum’s growth isn’t just about expanding the company; it’s about supporting communities. From local workshops and group rides to hands-on customer service, Magnum is more than just a brand — it’s a movement. “Being in Utah has shaped us,” Jesse reflects. “This is where we started, and it’s where we’re rooted. We’re committed to being a part of this community and making a difference in people’s lives. That’s what keeps us going.”