Totnes Bike Hub_Working Presentation

TOTNES BIKE HUB: FUNDING PRESENTATION

Totnes Bike Hub B U S I N E S S

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THE VISION Totnes

• Bike maintenance and repairs

is market town & community

of 10,000 people that no longer has a bike shop.

• Teaching bike maintenance skills to all • Running cycling proficiency courses, and

We believe all short trips around Totnes could

confidence building rides, especially for adults

be completed on a bike, whether that be a rusty

new to cycling

hybrid shopper, an electric bike, a cargo bike, a mountain bike or road bike. It’s a small town, the

• Electric bike conversions

within 10 minutes of home), all journeys could be

• It will also act as a sociable cycling club, running

ultimate 10-minute town (everything you need is • Bike hire to tourists completed by bike.

led rides every weekend

We believe Totnes needs a community bike hub, that can work in partnership with the wider cycling community to promote maximum bike use. The Totnes Bike Hub will be an open democratic space, accessible to all (female friendly, accessible to elderly, disabled & anyone new to cycling), that will focus on:

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THE PLAN

Totnes Bike Hub

Repairs by trained mechanics

Access to community rides for all.

Secondhand bike sales from donor bikes.

Sales of basic parts and accessories

Retrofitting of electric assist B U S I N E S S

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Teaching workshops & events |

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CASE STUDIES: SIMILAR BUSINESSES Ride On Exeter

Who are they?

- Buy a bike! Prices for a pre-loved refurbished adult bike start from £70, and children’s bikes starting from £20.

Every bike comes with a two-month warranty.

A small charity in Exeter with the aim of getting more people cycling, more often by repairing and selling preloved bikes. Their vision is for a cleaner, healthier more active Exeter.

- Dr Bike sessions. A trained mechanic will come to a place of work, community organisation or group of friends to check over the collection of bikes. A four-hour session with Dr Bike will cost £200 for 4 hours for one mechanic within ten miles of Ride On’s premises. Reductions offered for charities.

Their Mission: - To offer high quality bike maintenance, training advice and education

- Rickshaw rides. Volunteers provide rickshaw rides to older residents of a local care home. A grant from the Barchester Foundation and funding from Exeter City Councillors made the project possible.

- Affordable good quality refurbished bikes - Access to cycling for all ages and abilities - Practical cycling advocacy information and support Their Aim:

- New project starting soon: Bike Bank, in partnership with Exeter Community Initiatives, for vulnerable adults to learn practical bike repair skills.

- Get more people cycling!

How they are funded:

- Reduce carbon footprint

Income comes from bike sales, courses, workshops and Dr Bike sessions.

- Improve mental and physical health What they offer: - Bike maintenance at home by offering free tool use videos (due to Covid) - All day bike maintenance workshops covering puncture repair, brakes, gears for £65 from 10-4.

- DIY Bike workshop: Open bike workshop every Wednesday from 12-8. Bike stands and tools provided and mechanics on hand to advise. Suggested donation of £5.

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CASE STUDIES: SIMILAR BUSINESSES The Bristol Bike Project

Who are they?

- Cycle maintenance courses, from basic to more intensive.

Cost of £30 for one day covering fixing punctures, adjusting brakes and cleaning and lubricating. Two-day course for £120 covering more in depth adjustments including disc brakes, gears, servicing headsets, bottom bracket service and intro to wheel tuning.

A member-led co-operative repairing and rehoming bicycles within the community. They aim to help people from all walks of life get out on two wheels and for it to be an inclusive and empowering experience.

Their Role:

-Become a supporter from £10 a month, which includes: A free bike service every year, 10% discount on servicing and repairs, 50% discount on second- hand parts, 10% discount on maintenance, free entry to Women’s night and Bike Kitchen.

To empower people within the community by providing access to affordable and sustainable transportation and encouraging an ethos of DIY and DIT (Do It Together!).

Strengthen the community by providing an inclusive, vibrant and supportive workshop environment for people from all backgrounds to come and work alongside one another.

Deliver an educational experience for all by creating opportunities to learn and develop lifelong bike maintenance skills Promote sustainability by saving bicycles and their working parts from landfill, encouraging reuse wherever possible, and offering an alternative to buying new.

How they are funded: Majority of income comes from bike repairs and sales through its trading arm, and some from grants and community programmes: School for Social Entrepreneurs, National Lottery Community Fund and local Bristol council funding.

What they offer: - Bike servicing appointments and sale of refurbished bikes to the public from around £150 - Earn a bike scheme for those experiencing long time unemployment. Working with one of the mechanics to refurbish a donated bike, learning basic mechanical skills in the process. The bicycle is then yours to ride away!

-Bike Kitchen, run by an experienced mechanic. Use the tools and workshop space to repair your own bike from £4 per hour. Also offer dedicated evening sessions for women only and weekend sessions for young people aged 8-18.

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CASE STUDIES: SIMILAR BUSINESSES London Bike Kitchen

Who are they?

-Bike repairs and servicing on a book-in basis.

The London Bike Kitchen is a mechanic owned & operated open DIY workshop where you can work on your own bike instead of giving it to someone else. Consider us a Do-ItTogether education space.

- Paid for course covering the repair and service of; Rim Brakes, Gear indexing, bearing systems and hydrualic disc brakes. They also provide a Mechanic Bundle course, along with wheel building and touring specific maintenance courses.

Their Role:

- Saddle Library: Access to a library of various saddle types to be hired on a short term lease to ensure you achieve the correct fit, without committing to buying an erronious saddle.

The London Bike Kitchen is a non-profit that teaches and supports people in becoming self-sufficient and proficient in bike maintenance. They welcome people from all backgrounds and bicycles and encourage them to contribute to community bike culture in London and the world.

- W.A.G Nights: A dedicated space for women and gendervariant people to learn how to fix their own bikes

Their objectives are to:

- Hire Us!: New off-site classes / Dr Bike sessions for your home, school, or workplace. Whether it’s a team building exercise, a hen do, a birthday party or a Bar Mitzvah, we’ve got classes to suit your learning needs.

a) Promote self-reliance and confidence through education b) Make cycle maintenance accessible and affordable

- Membership; Includes the following packages:

c) Get more people of all backgrounds working on their bikes

£55/year Six (6) hours of Peak** drop-in time (worth £84) Unlimited Off-Peak** drop-in time Special Relationship:

As a non-profit social enterprise, their goal is to create a workshop that is self-sustaining and open to everyone.

The money that is spent will subsidise classes and shop time for those from disadvantaged backgrounds, allowing them to gain access to bikes and bicycle education

£85/year Twelve (12) hours of Peak** drop-in time (worth £168) Unlimited Off-Peak** drop-in time

What they offer:

How they set up:

-Drop in use of workshop and tools on a first come, first served basis with the supervision of an in store mechanic.

They charge on an hourly basis of £14.00 to use space and tools, along with supervision.

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LBK has been funded by Cycling Grants London, a scheme run by Transport for London (TfL). |

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WHO ARE WE?

Shaun East (Cycle maintenance and creative lead)

Lizzie Woodall (Cycling proficiency and rides lead)

Shaun has ridden a bike most of his life and regards it to be his primary form of movement.

He is a regular cycle commuter and long distance cyclist. He has met many friends through cycling and believes the bike to be a recurring solution to many of the problems of the modern world. He is a well seasoned bike mechanic and ride leader for his local cycle touring club.

Lizzie’s first foray into cycling was on a Raleigh Bluebird. Living in Bristol cemented her view that two wheels were most definitely better than four for getting around. A cycle proficiency instructor and ride leader for people aged from 9-92 seemed like too much fun for a job, so she packed her panniers and cycled round Europe and South America with Joe. You’ll mostly find Lizzie cycling with her daughter or pottering at the allotment. .

Joe Burgess (Commercial lead) He has almost 20 years experience working in the financial sector and is a qualified actuary. The grey in his hair suggests he is now a veteran cycle tourer, his favorite form of cycling, which took him on an 18 month tour of Europe and South America with Lizzie. He is looking forward to using his vocational experience to help engage people to cycle in and around Totnes.

Rob Hill (Financial lead) Rob is an experienced charity finance director and cycle tourer. He has a long background in senior finance roles in charities and social businesses. Rob can also be found cycling across Dartmoor in a howling gale, teaching his kids to cycle, or falling off his mountain bike.

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BUSINESS PLAN Totnes Bike Hub is set-up as a Community Interest Company (company number 12800605).

We will offer the following services: • Bicycle maintenance & repair.

• Sell cycling equipment and reconditioned second hand bikes.

• Run organised and guided bike rides.

• Cycling proficiency / confidence courses for all.

• Training courses and events.

The Totnes Bike Hub will run a membership scheme, with the aim of creating a strong cycling community in Totnes. As a member you will access discounted maintenance and all of the services above, in addition members will automatically receive membership to We Are Cycling UK ( a national charity representing cyclists). “We are Cycling UK” membership includes a range of other benefits including insurance, discounts and a monthly magazine.

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IDENTITY & MARKETING Totnes Bike Hub is a simple but effective name.

The obvious connection with a bike component, but also a name for a collective space and a coming together of people. The logo is also kept simple, combining the two clear and distinct aspects of place and bicycle. As an additional source of revenue we also propose to sell various sorts of branded merchandise.

These will compliment our website and social media presence.

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FINANCIAL FORECAST

YEAR 1 (21/22)

YEAR 2 (22/23)

YEAR 3 (23/24)

YEAR 4 (24/25)

300

500

600

650

Income:

£52,000

£81,000

£87,000

£93,000

Expenditure:

£45,000

£73,000

£77,000

£83,000

Operating Profit:

£7,000

£8,000

£10,000

£10,000

Start Up Capital:

£35,000

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-

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Capital / Debt Balance :

£28,000

£20,000

£10,000

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Member Numbers:

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FUNDING REQUEST Totnes Bike Hub are seeking £35,000 in funding split across two phases.

Phase 1

Phase 2

Premises Set-up

£4,000

£2,000

Tools

£4,000

£5,000

Marketing plan

£2,000

N/A

Initial stock & working capital

£10,000

£8,000

TOTAL:

£20,000

£15,000

Phase 1 For the first 6 months, we will test the business model. We will employ a full time mechanic and volunteer staff will run the shop. We will offer a reduced range of services initially (no E-bike conversions). To fund this we are looking for £20,000 from initial investors:

Phase 2

Following a successful phase 1, we will look for an additional £15,000 to complete the set up and offer the full range of services and stock.

However, if we manage to raise all capital in the

COMBINED TOTAL CAPITAL REQUIRED:

first phase we will offer the full range of services from the outset.

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£35,000

OFFER SUMMARY We aim to fund our phase 1 capitial (£20,000) by Other shareholders in this first non-voting issuing non-voting shares.

tranche will be given the opportunity to redeem their shares first (ie the Company will offer to

Non-voting shares:

buy these back before the 3 directors and Joe are made any offer).

Share capital with no-votes attached will be issued in multiples of £500. No monetary dividend No monetary dividends will be paid by the will be paid. Instead a ‘dividend’ of one basic bike

business until all non-voting shareholders in this

service per year per £500 of shares will be paid

first tranche have been offered repayment.

(or equivalent workshop labour).

All non-voting shareholders will be invited to our The intention is that the company will offer to

annual general meeting, where feedback and

buy back these shares within 5 years of the shop

ideas will be welcomed.

opening (any offer will require the company achieving profitable operation).

The 3 directors have already contributed £2,000 each and Joe has contributed £1,000 (£7k in total) to purchase non-voting shares

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THANK YOU.

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