We are Crowdfunding

JustPark’s backing of fettle: how it all started...

CATEGORIES
September 20, 2021
AUTHOR:
Tom Cornwell

With our initial crowdfunding target now hit, pushing us into overfunding, we’re thrilled to have plenty of new faces onboard! From customers, to members of the public, to Crowdcube investors, it’s brilliant to have so many of you join us as shareholders!

With this being our first Crowdfund, you’ll join our angel investors and JustPark (who provided the initial backing to get us off the ground) in helping steer the direction of fettle. For those who don’t know, JustPark is the place in which our CEO, Jeyda Heselton and Chairman, Oren Peleg were working together when they founded fettle.

JustPark is a tech scale-up (and Crowdcube alumnus), enabling anyone with a parking space to let it out to drivers, who can then book spaces via their app. Today JustPark is converting many of these spaces to Electric Vehicle charging points with the goal of building one of the UK’s largest EV charging networks. With access to a vast network of parking spaces all over the UK, Jeyda and Oren had been looking into other uses for this land beyond parking. As passionate cyclists, they both wanted to see cities running in an efficient and environmentally-friendly manner and thought JustPark’s spaces may be able to help support this.

The pair found that whilst the number of people taking to two wheels was ever increasing (5 million people have taken to the saddle since 2016), local bike shops were struggling to stay open in city centres. Around 1 in 10 bike shops are closing each year, unable to compete with online retailers. This, coupled with an often outdated or intimidating customer experience, meant getting your bike serviced was a real faff.

They realised there was a huge opportunity to create the “Kwik Fit” of bike repair, leveraging many of JustPark’s assets (spaces) and relationships (Local Authorities and Landlords) to provide convenient spots for bike maintenance. At the same time, they wanted to utilise their tech background to produce a slick, 21st century consumer experience.

With JustPark’s resources and backing, Fettle was set up as a standalone business. Today, JustPark remains a lead investor, with their Founder & CEO, Anthony Eskinazi sitting on our board.

One of the first workshops to open operated out of a custom-built trailer designed to fit into a single parking space. Whilst we learnt a lot doing that, we soon realised the operational strain is high - particularly in winter months - and actually landlords of empty retail space were itching to get us in there.

Despite the fact we’re no longer using parking spaces, the future of mobility is ever shifting towards two-wheeled transport and JustPark has continued to support us. Anthony Eskinazi (Founder and CEO of JustPark) says, “It’s been incredible watching Jeyda and her team grow Fettle from inception to become a trusted service helping thousands of cyclists every month. I’m delighted that we continue to provide support, guidance and resources to help accelerate their growth.“

1 million UK adults joined the cycling masses over lockdown and this trend looks set to continue. A recent study by Deloitte predicted that the number of people around the world who commute by bike will double by 2022. With this comes the wide ranging benefits of reduced pollution, better mental and physical wellbeing and increased productivity.

And what’s more, bike sales are only predicted to grow. With a 44% increase in revenue from new UK bike sales each year, growth last year was capped due to demand outstripping supply. The future is looking bright for cycling and Fettle will be part of that journey.

Now that we’ve hit our initial target, you might be wondering what the new goal is. Well, we’ll be leaving it to overfund for a short while, giving anyone who hasn’t invested yet the chance to get involved. This allows us to open more workshops, more quickly and get more riders, riding safely.

p.s. If you haven't watched our crowdfunding film already, grab the popcorn & hit play below...

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What our customers say

"These guys are awesome. Firstly, they’ll pick up your bike within about 48 hours - when the local bike shop tells you they have no slots for weeks or even months. Then they call you within a couple of hours to tell you what needs doing and give you a quote. Then they fix it and deliver it back, keeping you updated all the time by text and arriving when they say they will. It’s simple stuff but no-one else is doing it in the bike repair space… I’m telling everyone about them"

- Tom L
"Simply the best: the team are super knowledgeable and skilled—they love bikes and quality parts! They do what is needed and will never upsell unnecessary work to make an extra buck (some places do). They are also super friendly and efficient. Had my beloved bike serviced in 2 days when all other places had a 6-week waiting list. Communication is always up to date so your expectations are managed at every step of the process. A gift to London cyclists. Thank you team Fettle."

- Simona S
"Honestly gob smacked at how easy and fast these guys made getting my bike fixed, everywhere near me was booked up till mid may and these guys in the space of less than 2 days picked up my bike, repaired and serviced it and returned it home. Their communication was great about what they'd done etc and can not suggest them more to anyone who wants their bike fixed quickly professionally and reliably!"

- Jacob W
"Excellent service! I drop my bike and it was ready the next day. Really liked the fact they send you the price quotation to be accepted before starting any work on the bike. Definitely recommended for any bike type you have!"

- Rafael B
"I can't add anymore than the great compliments the other reviewers have left. The communications though - very 2021 - texts to tell me the progress, the quotes and payment also via text links - very impressed! Thanks guys!"

- M R

Don't just take our word for it

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98% of customers have rated our London workshops 5* on Google

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