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107%
Raised
£805,260
Investors
323
Target
£750,000
Equity
13.87%
Pre-money valuation
£5,000,000

Having opened 5 studios in the past 6 years Boom Cycle exists to create fitness sanctuaries where people can escape any worries & pressures & just 'CutLoose'. With an experienced team & average YoY attendance growth of 47% they are raising funds to grow the existing business & open the next studio.

  • 77% Average YoY Revenue Growth
  • 47% Average YoY Attendance Growth
  • Studios in Hammersmith, Battersea Power Station, Holborn & Monument
  • £4.1mil in investment to date from Pembroke VCT & Private Investors
Information £90,000 invested by investors known to the Company who will not be claiming EIS relief will be used to make the final payment from a transaction completed last year. No funds from any other investors will be used in connection with this acquisition and accordingly, the Company expects that EIS relief will be available to investors

Idea

Boom Cycle is a boutique fitness studio specialising in indoor cycling. It exists to give riders the chance to escape their individual concerns & responsibilities & lose themselves in a sweaty, wild moment of joy.

The first studio was opened in a small, dark, basement space in Shoreditch on a shoestring budget. After a successful start investment was secured from Pembroke VCT & private individuals to open location two in 2014 in Holborn. Over the next few years the company grew & grew with av. YoY attendance growth of 47% & av. YoY revenue growth of 77% to date.

In 2017 investors followed on their funds with a further £2.1mil to open two new flagship locations. One in the Battersea Power Station development & another in the heart of Hammersmith. In August 2017 they also acquired a competitor in Monument (to replace the Shoreditch studio) & re-opened that location in Jan 2018. Revenue was £1.22mil in 2017 with site EBITDA of £127k, and overall EBITDA (after Head Office costs) of -£430,889.

Boom Cycle has been a constant presence in the media & featured in 100's of articles as well as being Highly Commended in the Tatler gym awards.

The fitness market is currently estimated at £5.1bn with an annual growth forecast of 7.1% driven by profound societal changes among health-conscious consumers.

The business has loans.

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Boom Cycle has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.