SummaryEdit
Fox Cycling is a children’s bike retailer with a secret sauce. They don’t just sell bikes but can also teach a child to ride in less than an hour! Having developed this proprietary process, they recently launched two new centres and are fundraising to open franchise outlets across the UK.
- Over a million children’s bikes were sold in 2020 in the UK alone
- Catalogue of 27 bikes with an average price of £324 (excl. VAT)
- The team includes the former chair of the industry trade association
- The UK bicycle market valued at £2.31 billion in 2020
IdeaEdit
Fox Cycling offer a solution to a problem experienced by many families - over a third of primary school aged children cannot ride a bike.
Founder Steven Fox spent years seeking to understand why, which highlighted two key issues. Many parents fix stabilisers to their child’s bike which we consider inhibits the development of balance. Some parents also buy cheap, heavy bikes, which may have their child’s favourite superhero on but we believe are difficult to ride.
Steve evolved the business model into a proprietary process with three stages. Each contributes a separate revenue stream as a child progresses through our learning journey.
CycleTots - a group balance bike class for toddlers where they learn the core skills whilst we educate parents on how to get their child riding without stabilisers
CycleKids - a one to one coaching session with the goal of getting children riding within the hour
Buy A Bike - children can try our fleet of child specific bikes to get the right size with the purchase delivered the following day
In 2021, our first full year operating as a franchisor, despite the pilot franchises losing several months of trade due to Covid restrictions, they taught over 300 children to ride, generating nearly £79k in revenue (P&L -£20k). Our long-term vision is to bring Fox Cycling to every community in the UK. The first two franchises successfully commenced trading in 2021.
TeamEdit
Steven Fox - Founder
Steve has spent nearly ten years developing his methodology to teach children to ride. He previously also owned a studio cycling business which he exited in July 2020.
Gareth Lippiatt - Financial Director (Part-Time)
A Loughborough University sports graduate, Gareth has over 20 years experience in the industry, most notably as founder of the children’s physical activity provider Sports Xtra and former Chair of the sector’s trade association. He also holds an MBA from Cambridge University.
Sol Hardy - Head Of Marketing (Part-Time)
Sol is a highly experience in marketing and business development. Prior to Fox he has helped grow other startups such as Yes Friends.
Rob Oyston - Advisor
Rob brings a wealth of expertise in franchising both as a franchisor (Sports Xtra, Rise) and a previous role as a Director of the British Franchise Association