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.
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.