22. Cycle Solutions

Cycle Solutions is a multi-channel bicycle retailer, operating in both the Cycle to Work employee benefit sector as well as direct retail and e-commerce. Fulfilling orders directly from their Swansea headquarters, they are a leading name in the Cycle to Work market - operating schemes for companies such as Co-Op Group, EDF Energy, Transport for London, Vodafone, Heinz, and GE - and a rapidly growing online retail store.

143% GROWTH BETWEEN 2019 AND 2021

Success Factor

As a leading name in the Cycle to Work scheme, Cycle Solutions has a strong history of high performance within the public sector. This was a key factor in winning the contract to be the UK’s central government Cycle to Work scheme provider, effectively displaying competency and ability to provide the scheme to the people who govern the scheme. Online retail has continued to be a key area of focus for the business since 2018 and developing and launching a new e-commerce platform and leveraging effective sales and marketing channels the online e-commerce revenue has improved exponentially and continues to see rapid growth. The challenges of the past two years have also highlighted the importance of ambitious forecasting and forward ordering. At a time when many retailers were struggling to match supply to increased levels of consumer demand, Cycle Solutions was able to make significant investments in both a new warehouse facility and workforce expansion and this level of forward planning has allowed stock holdings in much greater numbers than the business has ever seen. Finally, investments have been made across the Company including the development of completely new e-commerce websites, systems upgrades including everything from telephone and IT systems to EPOS systems and warehousing.

The Future

By the end of 2021, Cycle Solutions will complete the fit-out of a brand-new warehouse space alongside the current headquarters in Swansea, which will increase capacity for a further 4,500 bikes. At the same time, stock of complimentary products (such as bike parts, accessories, and clothing) will expand four-fold, enabling the company to expand customer choice, secure product supply in a challenging environment and improve the customer journey. Cycle Solutions are constantly on the lookout for new talent to join the team in Swansea with departments across the whole of the business being strengthened. As well as new staff, there is an intensive focus on training and development of the existing team to empower them to improve personally and professionally. Plans are well in progress to completely redevelop its e-commerce presence and to dramatically shift the online cycling shopping experience. Finally, sponsorship and partnerships with some of the most recognisable names in cycling will further underpin the credentials of Cycle solutions as a business run by riders, for riders.