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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

Idea

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.

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FOX CYCLING 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.