Free2Cycle is delighted to announce that it has launched its nationwide health and wellbeing initiative, which aims to encourage more people riding to work than ever before.
Aiming to get millions of new cyclists on the road - and modelling usage in the likes of Cambridge and Holland - Free2Cycle introduces cycling to those who could, but currently don’t cycle to work by making bikes available that are paid for by using them.
Free2Cycle combines effective use of technology and an innovative financial approach to tackle the £27 billion financial burden of inactivity to our economy and pressure on the NHS head on. Eric Craig, CEO of Free2Cycle comments, “Innovation brings with it the opportunity to make a step change in health and wellbeing, as well as our environment. We are excited to launch something that we believe is beneficial to all concerned.”
Potential cyclists are set to benefit from:
Sponsors, such as employers or charities, encourage people or team members to cycle by funding commute mileage at a rate of 20p per mile achieved, no upfront costs and a simple, online registration and management process. Sponsors reap the rewards of the environmental savings achieved, direct financial benefits particularly if the sponsor happens to be an employer and related Corporate Social Responsibility benefits.
With no salary sacrifice from potential cyclists, it makes this attractive to all regardless of income and with no upfront payments from sponsors, Free2Cycle expects to attract a new, previously ignored cycling market and make a significant impact on the fitness of our society.
Below: How Free2Cycle works
“We’ve introduced an effective model that rewards cyclists and is extremely beneficial to sponsors,” said CEO of Free2Cycle, Eric Craig. “We are very excited about the potential of enabling more people to use bikes, not simply owning them, and the difference that it can make to a healthier, happier society and an improved environment.”
While Free2Cycle in itself is an innovative technology-enabled financial service offering, it has been founded on the traditional values of core customer service. For example, all bikes are distributed through approved dealers who benefit from earning the majority of the margin - and in some instances more than they would earn with a traditional sale. Ongoing reward vouchers that cyclists receive for keeping on track with their pledge mileage are by default made available through the supplying dealer - therefore encouraging return visits to local bike shops. Craig adds that, “Free2Cycle expects to drive more business back to the high street and encourage a cycle dealer focused community.”
Free2Cycle have signed agreements with a wide range of suppliers with the view of offering a large range of bikes for cyclists to choose from.
The value of the bike is based on the cyclists’ mileage pledge. For example, a daily commute of 9 miles each way will fund a bike to the value of £1,600 by pedal power alone. If a cyclist would like to upgrade their bike, they can do so by chipping in with a single or monthly financial contribution, with a maximum upgrade of £1,000 (bikes capped at £2,750). Cyclists have the freedom to choose a bike to suit their style and budget. Free2Cycle funding budget makes e-bikes and the prospect of ‘no sweat’ cycling within reach. Craig comments: “We see e-bikes as part of the game-changing model, encouraging people that could but currently don’t cycle to work to get more active.”
For more information please visit www.free2cycle.com
Like and follow on Facebook: https://www.facebook.com/free2cycle/
Follow on Twitter: @Free2cycle
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Growing the wellbeing and wealth of Great Britain, Free2Cycle is a behavioural change initiative that sets itself apart from other cycling business models.
Stimulating the cycling economy, Free2Cycle is determined to unlock an estimated 7 million cyclists in Britain who are not currently cycling to work but potentially could and would benefit from doing so.
Revolutionising the way in which products are purchased, Free2Cycle uses ‘pedal power’ as the currency. By providing cyclists with free bikes and encouraging them to use them, the funder contributes 20p per commuter mile achieved by the cyclist (on average £20 - £30 per month).
Free2Cycle is not a part of the current cycle scheme offering which provide a tax attractive option to buy a bike particularly for higher earners. It is an initiative which is focussed on encouraging people acquire a bike by riding it rather than pay for it with money.
For all press and image enquiries, please contact Hamish Kilburn or Nick Harnett at Sponge Marketing:
(+44) 207 644 9988