The subscription to Bike Club demonstrate the circular economy power.
The company rents out more used bikes than new bikes each month, which prolongs the bikes’ lifespan and cuts down on CO2 emissions.
Today Bicycle Club, a 6-yo UK increase, shows that the fate of bicycles is roundabout.
In the UK and Germany, Bike Club is the largest subscription provider of children’s bicycles in Europe. It offers significant advantages for the environment by allowing parents to rent premium lightweight bikes for their children rather than purchasing them.
Every month, customer demand for their refurbished bikes has outpaced demand for new bikes since the beginning of 2023.
The organisation is presently leasing more restored bicycles than new bicycles consistently. The company has increased the number of bikes being refurbished, with 6,000 bikes being refurbished alone in the first half of 2023.
In the UK and Germany, over 55,000 children ride Bike Club bicycles at any given time.
Testing the large scale manufacturing of youngsters’ bicycles
The typical youngster needs a bigger bicycle at regular intervals between the ages of 2 and 16 to stay aware of their development, yet couple of guardians have the opportunity, space or craving to source, purchase, keep up with, store and sell various bicycles, frequently for different kids at the same time.
Additionally, it is estimated that 13.5 million unused kids’ bikes are languishing in garages and sheds in the UK alone, and the production of each new bike emits 100 kilograms of CO2.
Sent off in London in 2017, Bicycle Club empowers guardians to lease premium lightweight bicycles for their youngsters and afterward permits them to trade the bicycle for a bigger size as the kid develops.
All Bike Club bikes can be refurbished and rented out up to six more times, significantly reducing the need to produce new bikes. Recycling takes place when bikes reach the end of their rental period.
The company, which has so far raised more than £50 million in funding, added 50,000 square feet of manufacturing space the previous year, allowing for faster bike refurbishment.
The business is supported by TriplePoint Capital, Codex Capital, and Circularity Capital. Mike Balfour, the founder of Fitness First, is in charge of Bike Club.