We have spent over a century building the bicycle industry into what it is today, and we’re not done yet. This was a no-expense-spared project of Frank W. Schwinn, who wanted the bike to be introduced in 1938. It was an unqualified success, other than that it was very expensive to produce and showed little if any real profit potential. Sponsorship of 6-day riders produced a team to showcase the Paramount, the riders such as Jerry Rodman (The Michael Jordan of that time in Chicago) and the rest of the Schwinn Co. bicycle line. Schwinn followed the Scrambler line with the Predator in 1982,[38] their next step into the competitive modern BMX market.
Chicago became the center of the American bicycle industry, with thirty factories turning out thousands of bikes every day. Bicycle output in the United States grew to over a million units per year by the turn of the 20th century. In the United States, however, bike companies had to find bike buyers outside the mass market dominated by bikes made in Asia. American and European makers geared their bikes for competitive riders, such as triathletes and other road racers. Marc Muller, a young new Schwinn engineer, was given the responsibility to head up the project. The Paramount operations were moved to Waterford, Wisconsin, where the Paramount was reborn with a modern factory and workforce.
Putting all company efforts towards bicycles, he succeeded in developing a low-cost model that brought Schwinn recognition as an innovative company, as well as a product that would continue to sell during the inevitable downturns in business cycles. W. Schwinn returned to Chicago and in 1933 introduced the Schwinn B-10E Motorbike, actually a youth’s bicycle designed to imitate a motorcycle. By 1990, other United States bicycle companies with reputations for excellence in design such as Trek, Specialized, and Cannondale had cut further into Schwinn’s market. Unable to produce bicycles in the United States at a competitive cost, by the end of 1991 Schwinn was sourcing its bicycles from overseas manufacturers. This in turn led to further inroads by domestic and foreign competitors. Faced with a downward sales spiral, Schwinn went into bankruptcy in 1992.[59] The company and name were bought by the Zell/Chilmark Fund, an investment group, in 1993.
Schwinn then partnered with 7-Eleven, establishing a team including Eric Heiden. When 7-Eleven decided to hit the big time in racing, Schwinn went its own way due to a lack of funding. Schwinn was, however, able to recruit an up-and- coming rider named Lance Armstrong to its ranks. In 1896 Schwinn was founded, and by the end of that year, Schwinn bikes had more traffic than any other recreational bike company. As fitness trends shifted and technology evolved, Schwinn responded by offering a lineup of groundbreaking and affordable cardio equipment, including exercise bikes and treadmills.
Instead, most Schwinn derailleur bikes were marketed to the general leisure market, equipped with heavy “old timer” accessories such as kickstands that cycling aficionados had long since abandoned. While the Paramount still sold in limited numbers to this market, the model’s customer schwinn ebike base began to age, changing from primarily bike racers to older, wealthier riders looking for the ultimate bicycle. Schwinn sold an impressive 1.5 million bicycles in 1974, but would pay the price for failing to keep up with new developments in bicycle technology and buying trends.
If there is a serial number, it will always appear on the actual frame of the bike, rather than on a removable part like the seat, handlebars, or wheels. Most Schwinn bikes will feature a head badge or plate that identifies them as a Schwinn. This badge varied in style, depending on the style of bike and the year it was made. However, if you see the Schwinn name on the badge, it’s probably a Schwinn bike. The manufacturer distributed unbranded or rebranded bikes through other companies, especially prior to the 1950s.
However, one member of the Schwinn family remained at the helm of a U.S. bike company. Richard Schwinn ran Waterford Precision Cycles out of the same plant in southeastern Wisconsin previously owned by his family.
We’ve got a wide selection of bike sizes and styles, including electric, to fit a wide variety of riders. If you find an old bicycle at a flea market, yard sale, or thrift store, it’s important to be able to identify what you have. Knowing how to tell if a Schwinn bike is vintage and how to tell whether your old bicycle is made by Schwinn can help you determine whether you have found a valuable transportation treasure. The manufacturing equipment and the building were sold and the last remaining seven employees were laid off, each with a “little severance,” Schwinn said. The original factory in Chicago that once employed as many as 2,000 people is long gone. The Schwinn brand is now owned by a Dutch conglomerate that manufactures bikes overseas and sells them to big box stores such as Target and Walmart.
Whether you’re looking for a fixer-upper or want a bike in mint condition, there are plenty of places to shop. If you’re considering buying or selling a vintage Schwinn, you’ll need to get an idea of how much it is worth. To determine the condition of your bike, examine the paint, tires, spokes, and all equipment. The more you know about the bike and its condition, the better your estimate of its value will be. In 1950 one in every four bicycles sold in the U.S. was a Schwinn.