SHERPR removes the hassle of carrying your bikes, golf clubs and ski equipment to and from the airport.
Business overview
| Location | London, United Kingdom |
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| Website | www.sherpr.com |
| Sectors | Travel, Leisure & Sport Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 10721068 |
| Incorporation date | 11 Apr 2017 |
Idea
Introduction
SHERPR is an end to end solution for transporting sports equipment from your front door to your final destination.
We remove the hassle and stress of airports and airlines, mishandled goods or excess baggage fees. We help you to save time and travel lighter at the click of a button.
Since launch in late 2017 our current partners include:.
- IRONMAN.
- Rapha.
- UCI.
- Golazo.
- Decathlon.
- Golfbreaks.
As well as transporting bikes throughout Europe to renowned sportives, we also provide bespoke logistic solutions for mass participation events, large groups, corporates and charities.
Due to demand, we have designed a unique range of bike boxes to ensure a safer and more affordable means of transporting your valuable bikes. This opportunity has opened the door to wholesale orders from national retailers.
We feel we have proven that this model could become the norm and that it can be done profitably with an average margin of over 50%.
Intended impact
Ours is a model which provides the ultimate no hassle travel experience for sports enthusiasts.
Travelling with heavy and awkward sports equipment, coupled with luggage can result in additional expenses be it taxi's, car parking, car rental and oversized baggage charges. Not to mention the risk of your sports equipment not travelling with you on your designated flight.
Studies carried out by SITA Baggage in 2018 and CAA in 2017 highlighted airline baggage misshandling:.
- 5.57 mishandled bags per thousand passengers in 2017.
- In 2017, 10.67M transfer bags were mishandled.
- Of all mishandled bags 17% were damaged and 5% were lost or stolen.
By providing an affordable door to door solution we hope to be able to encourage participation in sports across the UK and Europe by removing potential barriers to entry.
We feel that our model and service demonstrates that people are willing to pay for safety, first class customer service and ultimate convenience.
Substantial accomplishments to date
Since raising our seed round in January 2018, a lot has happened! We have proven huge demand in our first year of trading.
2018 - We have shipped over 3000 items, with the majority of these being bikes.
2018 - We have achieved six figure revenue in our first year of trading.
2018 - We have achieved impressive growth quarter on quarter.
2018 - Throughout 2018 we have seen a growing demand from brands and events looking to provide our service to their customers/participants. We have partnered with a large national charity cycling event, IRONMAN, Rapha, UCI, Golazo, Decathlon, Golfbreaks and many more...our pipeline for 2019 is extremely encouraging.
March 2018 - Designed, developed and sold 2 unique bike boxes.
July 2018 - Received our first wholesale order from world renowned retailer Decathlon.
August 2018 - Provided logistics support for our first event, the UCI World Championships.
December 2018 - Released our 'Pro' bike boxes to the mass market.
December 2018 - Launched our first subscription model to Rapha RCC members.
The founders & Team.
Our founder was one of the early employees at Spotify helping to launch and grow the UK/US and Asia market. Following this he co-founded FLIO, a global airport app. Our Non-Ex Director, the ex Managing Director of UPS Europe has a wealth of experience in logistics as well as leading all of the sports equipment shipping for the London Olympic Games. The overall team has expertise in operations, sales, marketing, and customer service.
Monetisation strategy
SHERPR has 3 key revenue streams.
SHERPR Door to Door: Our core business transports and delivers your sports equipment door to door. As with many successful business', we own no assets. We utilise existing logistics networks who provide us with heavily discounted rates allowing us to make upwards of 80% margins per movement.
SHERPR Events: Our overland bike transportation for mass participation events in the UK and Europe came to us through demand from our customers. We again utilise existing haulage networks to provide a pick up and drop off service for fully assembled bikes making margins upwards of 50% per bike.
SHERPR Bike Boxes: We design and sell bespoke boxes within courier maximum dimensions to ensure the safety of bikes in transit. We have created 3 bike boxes at different price points £37.99 / £67.99 and £199. Our bike boxes are sold direct to consumer and wholesale to retailers with margins around 50%.
Use of proceeds
Team: We will focus our efforts on expanding our Operations and Customer Service team to cope with our growing demand. Marketing is a function into which we will be concentrating our recruitment efforts, as marketing will be key to our growth.
Growth: We will invest in new market expansion to countries with high sport participation such as France, Germany and Scandinavia. We do not require heavy investment to launch in to new markets as operations can be run from our UK hub. We will also look to increase our brand awareness outside of the London area.
Tech: We will upgrade our platform to simplify and improve user experience and add back-end functionalities to minimise manual intervention and automate courier tracking and movements.
Product: We will continue development of our bike boxes by investing, designing and producing a bike box for the elite market. In conjunction we will continue development of our open bike racking solution for large groups and mass participation events.
Investor Perks
£1000:
50% off a SHERPR Standard Bike Box - https://sherprbikebox.com/collections/frontpage...
50% off 1x UK return shipment
£2500:
50% off a SHERPR Premium Bike Box - https://sherprbikebox.com/collections/frontpage...
50% off 1x EU return shipment
£5000:
50% off a SHERPR Pro Bike Box - https://sherprbikebox.com/products/plastic-bike...
50% off 4x UK or EU return shipments
£10000:
75% off a SHERPR Pro Bike Box - https://sherprbikebox.com/products/plastic-bike...
75% off 8x UK or EU return shipments
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them
Market
Target market
Our typical customers are affluent AB1's, aged 35-55. These are passionate enthusiasts with disposable income dedicated to investing in their hobbies with a desire for convenience. We segment our customers in to 4 buckets:.
Owners: Simply put, travellers who want the reassurance of their own bike/clubs/skis but don’t want the hassle of taking them to airports with their luggage.
Family: Family with children who want to use their own equipment on holiday.
Groups of friends: Travelling in an average group size of 4-6. Travel together, want to have fun without the hassle of carrying their equipment.
Club riders: Large groups of club riders or amateurs who want event transportation to events across the UK and Europe. A growing market that we intend to target via new marketing channels.
We have demonstrated that our service provides a convenient solution across all segmented customer groups.
Characteristics of target market
The cycling market is one of the fastest growing mass participation sports in the world. The global cycling market is set to reach $44bn during the period 2018-2022 with Europe still an extremely popular destination for cycling.
The ski market is set to exceed $5.7bn by 2020, with 264 million ski visits to Europe per year.
£4bn is spent on golf in the UK which is 14% of the total sports economy in the UK. In all of Europe, there are just under 4.2 million members of 6,900 golf clubs.
We are in a perfect position to capitalise on the ever growing cycling market and travelling golf and ski consumers with simple, affordable, fast hassle free transportation.
Marketing strategy
Our marketing channels have been largely digital and we’ve made good use of many of the usual suspects: Bing ads and Facebook for example. The majority of our marketing has been targeted towards the city of London. We have also carried out re-marketing via email.
We are only scratching the surface with our marketing efforts. We will increase our reach UK wide through various online and offline channels. We will make a conscious effort with regards to referral schemes and influencers in the industry, which has been successful with current cycling and golf brands. We have built a service that we believe would be of interest to many pro athletes and who will look to engage in sponsorship opportunities.
We will continue to push affiliate and joint venture promotions via existing and new partner databases.
Competition strategy
Traditionally the only way to transport your equipment overseas would be via an airline, the likes of which are making it harder and more expensive for passengers to travel with their sports equipment.
Our pricing is inline with airlines, and in some cases cheaper without all of the hassle of carrying your sports equipment to and from the airport.
It could also be argued that every logistics provider is a competitor of ours. In reality, however, this is not the case. Logistics providers are traditionally outdated, slow, devoid of new tech and are unwilling to provide bespoke and affordable solutions to end consumers.
We have created a market place for consumers to benefit from logistics providers with an easy to use interface and affordable rates. Our mission is that SHERPR will become a must have for all sports travellers.
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