INTERVIEW
Gogeta’s 3% commission is significantly lower than many competitors. How does this low commission structure impact the pricing and profitability for independent bike shops? You would best ask them that!
But I was a retailer for 15 years, and when we used to accept other vouchers, we would literally grimace- there went half our profit in the blink of an eye. We want cycle to work to be considered a normal payment method - for instance, retailers don’t add surcharges to credit card sales as the economics mean they don’t need to…
You’ve mentioned that a large portion of your growth comes from retailer referrals. What do you think is driving retailers to recommend Gogeta?
Economics, but also a sense of shaping their own destiny. Retailers have complained about cycle to work fees for years, and nothing has changed. The legacy schemes have ZERO incentive to cut fees, as they make massive profits from them. Why would they change a winning formula?
With Gogeta, retailers can see that they really do have the power to make change. If they recommend us to customers, then they’ve processed a sale to a scheme that has a far lower transaction cost to them. It just makes sense. We aren’t looking for charity….we want retailers to choose us, as it keeps the most money in their pockets...
What advice would you give to bike retailers who are currently dealing with the challenges of high commission fees from other cycle-to-work scheme providers? That they have the power to change things - promote schemes you want to work with, and the schemes that view you as an integral partner and not the bottom of the food chain.
Does Gogeta track any broader impact of its scheme, or are there ways you envision data being used to identify trends or information that might help support cycle retailers’ businesses?
I think there are enough trade bodies that can provide this information to retailers. We just want to focus on a scheme that drives high-value sales to retailers at low cost. That’s our USP.
40 | May 2025
PHOTO BY KOFI NARTY ON UNSPLASH
What are Gogeta’s perspectives on the current state of cycling infrastructure in the UK, and do you see any opportunities for improvement that could further support the Cycle to Work scheme? There has been talk for years on opening it up to non-PAYE. I think it’s fair to say that, given everything else going on in the economy, this is not a government priority for the foreseeable future, and I believe we shouldn’t waste effort campaigning for this right now. It just won’t get heard. Let’s get our own house in order and fix the current scheme first. That should be the priority now.
Looking ahead, what are your plans for the next few years? We are only 18 months old, and it’s been quite a ride! We are thrilled with the way it’s gone to date and the support and feedback we have had from retailers in our journey. We’re looking forward to building on this and continuing to grow.
www.bikebiz.com
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