Boom Cycle, London’s original and first indoor cycling brand announces the launch of their fifth site in London’s iconic Waterloo.
Scheduled to open early 2019, Boom Cycle’s Waterloo site will be located directly behind London’s top landmark, the London Eye as part of the Southbank Place development and opposite the northern entrance to Waterloo Station.
With a station footfall of 100 million visitors per annum, Boom Cycle will create their biggest site to date, housing two studios, a retail and shake bar offering as well as a full food and beverage area. With an aim to create an inviting space for riders to come work from, eat at, take meetings or with their plans to hold an alcohol licence on site, finish the day post ride with a beer or glass of wine with a friend.
Boom Cycle’s latest announcement coincides with the launch of their first and only Crowdfunding campaign to finance development within their existing business and to aid the next stage of growth in the UK.
Boom Cycle has established itself as a leader in the indoor cycling studio sector, with four sites located in Holborn, Hammersmith, Monument and their premier flagship site in London’s iconic Battersea Power Station development. Since 2014, the brand has seen average year on year attendance growth of 47 per cent and average year on year revenue growth of 77 per cent.
Now valued at £7,000,000 and with revenue set to grow by 30 per cent in 2018, Boom Cycle have already raised 66 per cent of their target through existing investors and valued riders and aim to reach a minimum of £750,000 via leading crowdfunding platform, Crowdcube.
New shareholders will join existing backers, Nectar Capital, Andurand Capital, Prism Finance and Pembroke VCT whose previous successes include; Plenish, Blaze and KXU. With the UK fitness club market estimated at £5.1bn with annual growth of 7.1 per cent and value growth forecast to be between 4-6 per cent over the next five years, Boom Cycle are offering riders the opportunity to join the journey with a minimum investment amount of just £10 to encourage even modest investors to stake a claim in the company’s future growth.
Rewards for investors will include; complimentary rides, guest passes, exclusive merchandise, priority booking and for top tier investors a private ride for up to 40 people.
The investment round will see Boom Cycle consolidate its position as the number one indoor cycling studio in London by growing the existing business and opening additional locations over the next five years, including the next site in Waterloo.
Robert Rowland, Co-Founder of Boom Cycle, said “We started with a tiny basement space in a back street in Shoreditch but our ambitions have always been the same, to make Boom Cycle a national brand recognised all over the UK.
“We’ve set ourselves up for success with fantastic locations, an experienced and passionate team and with David Lloyd agreeing to join us as Chairman we are really excited to open up investment to our riders and the wider public to allow them to become an even more ingrained part of the Boom Cycle story.
“The Waterloo studio will be a seminal one for us with a massive, established footfall, incredible transport links and part of a seminal site. It’s going to be non-stop partying (on a bike)!”
