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
Disagree. An after dinner speech isn't a statement to the house; it's entertainment, an act. I think some theatre is perfectly acceptable.
Sympathies for the victim...
The wide road where no-one lives and people say 20mph makes no sense...
I see about one person/month riding along with the forks on backwards. Usually this is a kid at the local BMX track and the parents don't know...
I mean seriously people - it's an open goal right there...
Yes, most unexpected. I was so surprised at not seeing the usual Gammon bollocks under a cycling-related story that I nearly stopped for a red light.
I've seen Pogacar on 170 and 165 cranks too
I was waiting for a cyclingMikey character to stop in the middle of the cycle route incanting "You will not pass".
There's discussion of that here: https://road.cc/content/news/uk-government-review-motorists-caught-out-c...
Also to reduce the likelihood of payments by insurance companies if they can show that a cyclist victim wasn't wearing a helmet or wearing it...