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I'd assume they didn't change to a CIC as they were happy being a co-operative? It does seem to be a model that's worked for them for a while. And not sure if describe fundraising to cover soaring costs begging.

Always had great service there, and enjoyed the gear. They even helped us collect donations for the jungle in Calais when I was doing that kinda thing.
 
urbanspaceman said:
I wonder whether the co-operative ownership of Brixton Cycles has fostered an introverted and un-innovative culture, which while it is reassuringly comfortable for its long-standing staff, does not adapt to changing circumstances and opportunities (reminiscent in this way of Brixton Wholefoods). It looks to me that BC has a modest online retail offering, little social media presence (YouTube: 3 videos and 91 subscribers; insta: last post 18 weeks ago; Twitter: last post in May 2021), and has eschewed the massively growing popularity of ebikes.

I wonder whether BD has a long-term future.
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They're always very busy when I'm there so it's not through lack of demand for their services. They're not an Evans/Halfords/Balfes who can have loads of stock parts so they're focusing on servicing/customisation. They know their stuff in my experience and give good advice. it does seem odd they can't handle a few weeks down time without going bust though? Is that a good biz model?
 
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Gramsci said:
Tbf the bike industry in general is going through a crisis at the moment.

What will come out of Im not sure.

www.google.com

Brexit, lack of cash, politics: has the UK cycling revolution run out of road?

Bike sales boomed during the pandemic, but now cycle shops are going bust, sales of ebikes are sluggish and there’s a downturn in ‘active travel’
www.google.com www.google.com
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Interesting. Maybe London is a different case. I'm always gobsmacked at the numbers of cycling commuters in central London, the rise in families using cargo bikes and all manner of deliveries now being done with bikes.
 
sparkybird said:
Interesting. Maybe London is a different case. I'm always gobsmacked at the numbers of cycling commuters in central London, the rise in families using cargo bikes and all manner of deliveries now being done with bikes.
Click to expand...

In most to the country you need a car to do anything. In London you don’t and you have to pay for parking, your insurance is probably more plus you probably get public transport to work.

The break even point for cycling is totally different in London.
 
alex_ said:
In most to the country you need a car to do anything. In London you don’t and you have to pay for parking, your insurance is probably more plus you probably get public transport to work.

The break even point for cycling is totally different in London.
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Yes that what I was trying to say!
One reason I'd never choose to live in the country, you have to have a car and public transport is pants
 
Mr paulee said:
Brixton Cycles hit their GoFundme target, thankfully.
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No just reached it, but more than doubled their target:

www.brixtonbuzz.com

Brixton Cycles reaches its crowdfunding target as over £30,000 is raised

Last month we reported that Brixton Cycles had launched a £30,000 crowdfunder after the workers’ co-operative suffered its worst financial year in 20 years, exacerbated by a crippling electrical…
www.brixtonbuzz.com www.brixtonbuzz.com
*update - this is incorrect, they just reached their £30k target
 
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editor said:
No just reached it, but more than doubled their target:

www.brixtonbuzz.com

Brixton Cycles reaches its crowdfunding target as over £30,000 is raised

Last month we reported that Brixton Cycles had launched a £30,000 crowdfunder after the workers’ co-operative suffered its worst financial year in 20 years, exacerbated by a crippling electrical…
www.brixtonbuzz.com www.brixtonbuzz.com
Click to expand...
The 60000£ was from the first fund raiser. The current figure is- £30,039.

www.gofundme.com

Donate to Help to Save Brixton Cycles, organised by Brixton Cycles

Can you help save Brixton Cycles? It's no surprise to anyone that times have been tough… Brixton Cycles needs your support for Help to Save Brixton Cycles
www.gofundme.com www.gofundme.com
 
There's a kids bookshop opening in Herne Hill, asking for £20K towards their opening expenses.

"this is a very ambitious project. Despite our passion, the cost of living crisis makes starting a business incredibly challenging - so we need your support!"

It'll be nice to see the recently closed shop being replaced (I think they moved to Margate and online?). I can't help feeling that if they are desperate for £20K before they have even opened they might not be around long.
 
Rushy said:
There's a kids bookshop opening in Herne Hill, asking for £20K towards their opening expenses.

"this is a very ambitious project. Despite our passion, the cost of living crisis makes starting a business incredibly challenging - so we need your support!"

It'll be nice to see the recently closed shop being replaced (I think they moved to Margate and online?). I can't help feeling that if they are desperate for £20K before they have even opened they might not be around long.
Click to expand...
if you need to crowdfund BEFORE you open - then I am not sure you have a coherent decent business plan.
 
jimbarkanoodle said:
This should have happened years ago before it was called 'Electric Brixton', but then i suppose it wasn't so treasured by the council next door when the building was full of gurning pill monsters stomping to hard house every weekend and Police raids.
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Or whilst they were threatening to compulsorily purchase the Fridge Bar next door so that they could redevelop the site.
 
jimbarkanoodle said:
This should have happened years ago before it was called 'Electric Brixton', but then i suppose it wasn't so treasured by the council next door when the building was full of gurning pill monsters stomping to hard house every weekend and Police raids.
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Many happy memories of sitting on the pavement outside The Fridge of a sunny Sunday morning tripping balls, as (presumably) churchgoers in their Sunday best travelling on passing buses looked on in horror at the congregated crowds :)
 
Mr paulee said:
if you need to crowdfund BEFORE you open - then I am not sure you have a coherent decent business plan.
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Business should only be started by those that have the capital beforehand then?

This is quite a common way surely to start a business - they’re offering membership and rewards. Fair play if they make it attractive enough for people to contribute - surely better than starting with £20k of debts and the high interest rates associated.
 
T & P said:
Many happy memories of sitting on the pavement outside The Fridge of a sunny Sunday morning tripping balls, as (presumably) churchgoers in their Sunday best travelling on passing buses looked on in horror at the congregated crowds :)
Click to expand...
No all night tube then either and the first ones didn't start till about 7am, so lots of people sat outside the tube station, wide eyed, chewing gum and clutching water bottles.
 
Mr paulee said:
if you need to crowdfund BEFORE you open - then I am not sure you have a coherent decent business plan.
Click to expand...
That model seemed to work out just fine for Round Table Books in Brixton.

www.brixtonbuzz.com

Brixton bookshop listed as Independent Bookshop of the Year finalist

Round Table Books in Brixton Village have been shortlisted in the The British Book Awards in the Independent Bookshop of the Year category. Starting life as a one-week pop-up on Coldharbour Lane, …
www.brixtonbuzz.com www.brixtonbuzz.com
 
editor said:
That model seemed to work out just fine for Round Table Books in Brixton.

www.brixtonbuzz.com

Brixton bookshop listed as Independent Bookshop of the Year finalist

Round Table Books in Brixton Village have been shortlisted in the The British Book Awards in the Independent Bookshop of the Year category. Starting life as a one-week pop-up on Coldharbour Lane, …
www.brixtonbuzz.com www.brixtonbuzz.com
Click to expand...
Then I look forward to that success being repeated, because crowdfunded projects always become successful
 
Crowdfunding does give businesses certain advantages- instant feedback on the business idea and publicity of the campaign. If you make your target then you have proved the business idea and market opportunity to people sufficiently for them to donate. A rather more rigorous approach than persuading your local bank small business rep to give you a loan.
 
Did Round Table Books do a commercial crowdfunding, in which investors receive shares (as done by Seedrs and Crowdcube) or just ask for free money, as done by Brixton Cycles and the new Herne Hill bookshop ?

I note that RTB is a Community Interest Company, so asking for free money is somewhat more justifiable than for conventional companies. And yes, I do have a bit of bee in my bonnet, when commercial enterprises adopt the rhetoric of being "community resources" and the like, to solicit free money from well-meaning naifs. A donation is not an investment.

I must disagree about crowdfunding (meaning the Seedrs and Crowdcube type) being a valid test of viability. Uninformed investors throw dumb money at no-hopers, and the success rate of crowdfunded companies is dismal.
 
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