It would be hard not to have noticed the massive growth of bicycles - both manual and electric - on our roads. And of course, COVID-19 has accelerated that trend with 1 million more adults taking to the saddle in the last year.
Despite that, nearly 1 in 10 bike shops have been closing down as their retail business is soaked up by online purchasing of bikes, kit and accessories. Whilst retail can shift online, servicing cannot.
But, the bike repair sector has been stuck in the dark ages. Outdated practices, jargon and a lack of transparency. Oh, and huge waiting lists too.
Estimated size of bike repair market
Bookings in first 21 months
Customers returning in first 21 months
Targeting 90 workshops nationwide within 5 years.
Growth in revenue, Q2 2020 > Q2 2021 ('21, Rev £202k, EBITDA
Average customer rating
We’re crowdfunding to enable us to open more workshops and bring faff-free bike repair to riders up and down the UK.
To date, we have raised funds from private investors. Alongside their continued support, we’d like to open up the chance to be a shareholder to customers and the public who share our vision for the future.
Crowdfunding allows everyone the opportunity to invest in businesses close to their interests - opportunities that only seasoned investors would typically have access to. It allows people to support businesses which aim to bring about change that is meaningful to them. We want to build a community that will help us grow faster and better.
Crowdcube is a crowdfunding platform that matches start-ups and scale-ups looking for investment, with a wide range of everyday and experienced investors who want to share in the future of companies they believe in.
Anyone! Well, anyone who is over 18 and legally entitled to invest. We've asked our Fettle community before anyone else as we wanted our cycling community to be the first to know.
You will need to sign up (free) to Crowdcube. As soon as our page is live you will have exclusive access to invest before we share with the rest of the world. You will officially be a Fettle shareholder once the round has closed and the cooling-off period is over! If you register your interest now we'll let you know when the private page goes live.
We're going to go live privately on Crowdcube in early-September. Exclusive access will be given to those who pre-registered using this page. We will open up for investment from all other parties publicly later in September.
You can invest any amount from £10 up to as much as you like!
Not at all, it just means you'd like to have an exclusive chance to invest when we open privately in September. There's a cap to the total investment amount and we will have to close the round once we've hit it, so we're giving everyone who signs up now the opportunity to invest first.
When you become a shareholder in Fettle, you own a small piece of our company. It means that you would share in the financial success of a sale, an IPO or a dividend return, although these are not guaranteed outcomes. Whatever happens, you'll get to be a part of our future.
Depending on the amount you invest, you’ll also get some perks ranging from branded merchandise to lifetime servicing discount.
Investments of this nature carry risk to your capital and should be invested in as part of a diversified portfolio. Please invest aware. This page has been approved as a Financial Promotion by Crowdcube Capital Ltd (FCA no. 650205).