Mapdec Cycle Works announce record year, and new investor

Earlier this year we had the opportunity to talk with Paul Vousden of Mapdec Cycle Works, exploring the way the business has used social media to great effect, as part of a wider CIN feature focused on winning new customers.

As the year slowly draws to a close, the overriding themes – a challenging market, overstock, and wider economic trends, all impacting the industry – haven’t stopped Mapdec Cycle Works sharing news which offers encouragement for those willing to do things differently.

“Our workshop is 98% up on 2022. Factor in everything else we do and revenue is up 130%. The customer service revolution is here. Long live the indie workshop.”

Asked to identify key points which have driven the business growth, 3 come to mind: “Mirroring your  recent Paul’s Cycles announcement – service, building trust, communication”.

Talking about the impact of YouTube and Tik Tok content (marketing) on the business, Vousden reflects, “We are now being sent bikes to fix from London, Plymouth, all over…. by owners, and from other bike shops. The phone just keeps ringing, customers are genuinely surprised when we answer it.” Pressed to elaborate further, “We get a lot of feedback from people who frustrated with their local shop. I repeatedly hear about stores having between 3 and 5 week workshop waiting lists. The other major gripe we hear; that visiting a shop for service work frequently results in attempts to sell customers something they didn’t come in for.”

Highlighting the apprenticeship scheme that Mapdec Cycle Works runs, Vousden states, “If we can do anything to help inspire folk to pick up a wrench and be excellent mechanics I will. Everyone wants to sell new bikes for hardly any margin. With all these new bikes there is a ton of money to be made from service them.”

It’s this combination of service and expertise which has not only won a lot of new customers, but also drawn £100K of investment. This past week saw new partner, Simon Horsley, taking a 38% stake in a business which is currently actively recruiting, looking to bring on board new talent, to support and drive future growth.