In the UK and Germany, Bike Club is the largest subscription provider of children’s bicycles in Europe. It empowers guardians to lease (not buy) premium lightweight bicycles for their youngsters, which accompanies significant ecological advantages.
Every month, customer demand for their refurbished bikes has outpaced demand for new bikes since the beginning of 2023.
On a monthly basis, the business is now renting out more refurbished bikes than new bikes. 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.
The average child requires a larger bike every 15 months between the ages of 2 and 16, but few parents have the time, space, or desire to purchase, store, and sell multiple bikes, often for multiple children at once. This poses a challenge to the mass production of children’s bicycles.
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.
Bike Club, which debuted in London in 2017, allows parents to rent premium, lightweight bikes for their children and then exchange the bikes for larger sizes as their children get older.
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.