The company provides a flexible, low-cost solution for eBike ownership for customers nationwide, offering a monthly subscription model inclusive of all maintenance, warranty and door-to-door delivery.

The subscription model has been designed to simplify the process of eBike ownership by removing the three main barriers: cost, upkeep and worries of buyer’s remorse.

The Shareholders are offering the company for sale as they believe a new owner could help it to benefit from the current and future market conditions.

Offers invited.

Key Highlights

– Offers a range of bikes suitable for both urban commutes and all-terrain leisure activities, all of which can be fully tailored to the needs of its customers.

– Circa 400 customers subscribed to its model, all of whom provide reliable, repeat business on an ongoing basis.

– Customers are a mix of private individuals, commercial and public sector customers, including county councils and NHS trusts.

– Strong second-tier management team.

– Operates from leasehold premises.

– Operating in a market that is expected to increase significantly over the next two years, benefitting from investment in sustainable transport and public health.

– Shareholders believe that the company could easily reach over 2,500 subscribers within the next two years.

Financial Highlights
– YE22 turnover of £1 million, with an adjusted EBITDA of £139k.

– Five month management turnover of £663k, with an adjusted EBITDA of £305k

– 82% gross profit margin.

– Extensive pipeline of future projects for the current financial year, including contracts with county councils, NHS trusts and care home providers that could generate an additional £300k in revenue from Spring 2023

– Negotiations are ongoing with several new customers, providing further scope for the company to increase its turnover significantly over the next two years.