BikeBiz Bicycle and cycling retail news
A new Cycle to Work scheme provider Gogeta has officially launched, offering the ‘lowest commission in the industry’.
Gogeta, previously known as Velomatch, founded by Barry Scott with the aim of improving the salary sacrifice scheme for all parties, will be offering 4% commission to its bike shop partners, with an introductory offer of 3% until December 31.
The scheme officially launched on Thursday, June 1, and Gogeta is now onboarding new partner bike shops to support the launch.
Scott said: “I ran my own bike shop in London for over 10 years and I accepted all the major Cycle to Work vouchers. I was always frustrated by the cost and complexity involved.
“Bike shops add most of the value in the supply chain, but they pay the fees to the scheme providers. So the result is that we have a scheme that should be brilliant for bike shops, yet it has become something many retailers find increasingly hard to accept because it can be expensive and unprofitable.”
Scott has teamed up with Mark Brown to launch Gogeta. Brown spent 11 years leading the B2B channel at Evans Cycles, and has considerable experience in the development and delivery of Cycle to Work Schemes for thousands of employers.
Gogeta said a lower commission for bike shops means they can afford to offer scheme users the same price as for a cash sale. Currently retailers often have to add a surcharge on discounted bikes to compensate for the high voucher fees.
The new scheme also features an integrated marketplace, offering stock feeds from partner bike shops with Cycle to Work savings.
Employees can browse the Gogeta marketplace, find the bike of their choice in stock with relevant offers from partner bike shops, with their actual Cycle to Work costs and savings included. The employee can then apply for their voucher and the bike shop is notified they have a customer.
Read more: Boost seeks new retail partners as London buses advertising campaign launches
Gogeta will offer both the classic Cycle to Work Scheme to employers as well as a Premium tier, where employers can configure the marketplace to their exact requirements, adding their own branding, content and scheme features.
The brand will also be hosting a series of live webinars to give more details on how it works, and as an opportunity to meet the team.
To find out more, visit: https://gogeta.bike/retailer
