A south London-based business that provides a fitness and social hub for cyclists is turning to crowdfunding to finance its plans to expand to other locations as well as to roll out an online coaching platform.
Cadence Performance, which says its existing facility in Crystal Palace counts 5,000 cyclists as regular customers, is aiming to raise £300,000 through Crowdcube.
Among the services offered by Cadence at its existing premises are a workshop, a Wattbike studio, bike fitting, fitness testing, sports therapy, and custom insoles.
Wattbike: The best bits
It says that according to a recent Strava survey, it's cycle cafe is the second busiest such establishment in the capital, and the location also offers yoga and Pilates classes as well as selling Giant bikes and accessories.
It was founded by keen cyclist Frank Beechinor and his riding buddy - and GP - Ray Vella. The pair came up with the idea when they were planning to go out riding but were unable to find a place to meet up.
Beechinor said: We have come a long way since we wrote the business concept on the back of a napkin. Sales are now running at over £80,000 per month and this extra investment will allow us to expand the business and set us on the road to achieve our ambition of becoming the UK’s largest network of cycling hubs”
You can find the campaign on Crowdcube here.
The fundraising platform is the same one through which another south London-based business, cycle clothing brand Vulpine, raised more than £1 million having initially set a target of £500,000.
Vulpine raises £1 million
The small frame, the aggressive posture, lots of standover height.
As i've said before, the police should be sued for a lot of money when someone they have knowingly ignored has gone on to commit a serious crime....
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Good stuff. Now do it on cycleway C9 through Hammersmith to Chiswick.
It's technically allowed but it's not known as "London's Orbital Car Park" for nothing.
You're defending bombing hospitals and refugee camps and starving children.
Used car salesman is a complete attention-seeking plank....
I don't know if they're any better, but they's certainly become more boring.
At risk of being cynical, and stereotyping the police, it's so they don't have to leave the comfort of their panda cars and pursue on foot when...