In 1957, Elmer Sorensen took the $35 in his savings account and spent it on paint and parts to spruce up his six used bikes. His wife sold all six in one day. “I think we are onto something here,” Elmer said. He was right. By 1960, Elmer and his family acquired their first stand-alone bike shop, increased their stock to 700 bikes, and began to deal in new bikes, parts, and accessories. Today, Penn Cycle & Fitness sells and rents the latest bike models from seven different locations and holds numerous accolades for its work.