Breca Swimrun

Idea

Introduction

Breca is a global sports brand focussing on the swimrun, an emerging category in endurance sport. Breca is growing rapidly, since launching swimrun in the United Kingdom in 2015 and in New Zealand in 2017, we have built a strong brand and have become the market leader in both countries.

Swimrun is born of the modern urge to invent increasingly innovative and challenging endurance events. It is a series of run and swim sections staged continuously in rugged environments, normally held over “ultra” scale distances.

You run in your wetsuit, and you swim in your shoes. The emphasis is on teamwork as the race is run in pairs, athletes tethering themselves together during the swim, and sometimes during the run sections to help each other along.

The invigorating challenges we create are a means of fueling passions, enriching experiences and building a community.

Intended impact

We are a culture increasingly in love with endurance sport. In 2008, 92,000 people applied to enter the London Marathon. By 2019 this had grown 4x to over 414,000 applicants.

Whilst urban races have established appeal, the wider category has exploded with offerings. Yet we believe these are increasingly commoditised, and one-dimensional in their presentation. They focus on an inward-looking sense of personal achievement; the dominant tone is macho, aggressive and confrontational. Their environmental impact has become a pressing issue.

We feel that this reality is at odds with the spirit of our times.

Breca aims to bring a new narrative to endurance sport. We seek out majestic venues for our events to reconnect with the natural world - to rebalance our increasingly urbanised, screen-oriented lives.

We celebrate the joy of shared experiences in amazing locations, competing as a community, supporting and championing each other.

We always tread lightly, with respect for the environment central to our philosophy.

Substantial accomplishments to date

THE MARKET LEADER IN THE COUNTRIES WE OPERATE IN:

- Eight races in the UK, four in New Zealand.
- Owner of the National Championships in both countries.
- Customers range from first-time swimrunners to Pros Athletes, Olympians and World Champions.

PROVEN TRACK RECORD OF GROWTH SINCE LAUNCH:

- Life Time Value / Customer Acquisition Cost: 10.4.
- Annual entries have grown at a 158% Compound Annual Growth Rate.
- Revenue has grown at 142% Compound Annual Growth Rate (based on unaudited accounts).

SCALABLE MODEL ESTABLISHED:

- We have already made the transition from non-scalable, in-house delivery to third party delivery.
- The entire 2019 U.K. series has been planned and delivered externally.
- We are confident this positions Breca for rapid expansion in 2020 and beyond.

ESTABLISHED THOUGHT LEADER:

- Launched swimrun in the UK in 2015 and New Zealand in 2017.
- Ran a "single-use cup free" series in 2017; lead the industry in establishing this as a standard in 2018.

PRESS COVERAGE AND MEDIA PARTNERSHIPS:

- Breca x Red Bull.

PRESS AND NEWS COVERAGE:

Breca Bay of Islands

- https://www.stuff.co.nz/sport/other-sports/1120...

- https://www.nzherald.co.nz/northern-advocate/ne...

Breca Buttermere

- https://youtu.be/uDBvUvs_yrs

Breca Jersey
- https://run247.com/running-features/a-swimrun-b...

Breca Coniston
- https://www.asics.com/gb/en-gb/frontrunner/arti...

National Championships
- https://www.tri247.com/triathlon-news/event-new...

Monetisation strategy

Race Entries:
- Cash received in advance of race date and posted as revenue once an event has been delivered.
- Per team entry fees range from £225-£255 for the sprint (middle-distance) and £330-£370 for the full (long-distance).

Location Partners:
- Breca brings a valuable ABC1 audience to our race locations.
- Communities benefit from spend on accommodation, food and other services.

Brand Partners:
- Brand awareness strategy and advertising pre, post and during the event.
- Leadership validation with the commitment to innovation, sports and lifestyle.
- Community enrichment through athlete activation.
- Brands can associate with best-in-class athletes, locations, content and community.

Clothing:
- Breca will launch a best-in-class activewear collection in line with our brand values.

Planned Roll-Out Strategy:
2019: We are aiming to launch five events in new markets.
2020: Launch activewear collection.
2021: 20 events worldwide; launch new verticals.
2022: 30 events worldwide.
2023: 40 events; we aim for an exit via PE buyout.

Use of proceeds

The vision of the business is to build the largest series of swimrun races in the world by 2023. Management will utilise the funds raised as follows:

Operations
- Grow Ops team to deliver launches in our untapped markets of the US and Canada.
- Launch activewear collection.

Partnerships
- Hire a commercial team to monetise the portfolio.
- Social media and marketing drive to build audience and attractiveness to sponsors.

Marketing
- Increased promotion to fully sell race stock.