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132%
Raised
£198,870
Investors
153
Target
£150,000
Equity
12.84%
Pre-money valuation
£1,350,000

Temple Cycles design, produce and sell a range of bicycles from its Bristol-based workshop. The company launched in 2014 and already generates a profit, having achieved over £125k revenue in 2016 - a 118% yoy increase. The business aims to grow British bicycle manufacturing.

  • The company boasts a growing list of over 14,000 online followers
  • UK and global cycling markets are worth £771m and €36.7bn respectively
  • Aim to double 2016 revenue in 2017 with a boost to marketing and sales
  • 16% of the products are exported, demonstrating international demand

Idea

Introduction and Mission

We produce a range of bikes at our Bristol-based workshop. We carefully consider each detail of our bike’s designs, from material selection to finishing touches. We also sell a range of parts and accessories. Our ultimate aim is to produce 10,000 bikes per year , growing bicycle manufacturing in Britain and creating skilled and sustainable jobs.

Problem

15% of England’s population cycle at least once a month. In our opinion, most of the commonly available high-quality bikes are focused on speed and performance, which isn't suitable for most cyclists. We believe that there’s a demand for simple, low-maintenance and stylish bicycles.

What we do

We aim to fill the gap in the market for a British bicycle brand, produce a range of premium bicycles for daily use, and sell them worldwide.

We sell our bicycles and other products to a growing multi-billion pound market, we know how to make them and we have a manufacturing plan to scale production.

Company History

Matt, the Founder of Temple Cycles, began as a sole-trader 6 years ago restoring classic road bikes. During this time he designed the first model and Temple Cycles was born in 2014. Temple Cycles Ltd has been trading for less than 2 yearsand has a growing list of 14,000 online followers who actively promote and engage with our content, increasing brand awareness.

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Risk warning

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Temple Cycles 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.