INTERVIEW
down over time (which we can do with increased volume). Our differentiation is that we view that there are three stakeholders in the cycle to work process - bike retailers, employees and their employers.
All benefit from the scheme, yet other providers place the entire fee burden on retailers. That made no sense to us. We want retailers to be willing, valued partners. Not reluctant acceptors of a sale that generates no margin. We also know that cash flow is as important as margin.
We aim to pay retailers within 48 hours, and actually the majority are within 24 hours of voucher redemption. There is absolutely no reason why a retailer should have to wait a week (or longer) to get paid. Again, a cycle to work voucher should be as painless for a retailer to process as a credit card sale.
Your ‘flexi-voucher’ system is unique to you. Can you explain how it works and how this benefits both the employee and the retailer? Other provider vouchers are one and done - you must spend the full voucher amount in one shop on one day. So you need to buy everything at once, and because of that, you may reduce the voucher value (so as not to “waste it”). Buying everything in one go is not how modern shoppers
operate. Our flexi voucher is like a digital wallet, and the user can redeem it in multiple stores and on multiple dates. A bike in the spring, new shoes in the summer, and winter clothes when the weather turns. All from the same voucher.
GETTY IMAGES ON UNSPLASH
Retailers benefit too, as the voucher value can be shared throughout multiple retailer partners. They also benefit as the voucher values are higher, because the customer can redeem throughout the year, they are happy to add a bit more to the initial voucher application as they know they will be able to use it efficiently throughout the year..
www.bikebiz.com May 2025 | 39
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