Bikes for Joe Public
The Note rarely finds itself persuaded by the merits of offering space for the promotion of commercial interests.
But occasionally something stands out and we can’t help ourselves, such as the prospectus that came whizzing across our desk for Perth-based bicycle design and manufacturing business, Flying Machine.
Still euphoric from Cadel Evans’ mighty win in Le Tour we could be forgiven for getting excited by the pretty pictures, let alone the opportunity being pedalled.
The business was launched by Matthew Andrew and his investment banking brother, Simon (a founder and director of gold player Emmerson Resources), about 18 months ago as limited edition bike maker called Sexy Bicycles, appealing to what it says was a vacant niche in the bicycle market – well-designed, good looking bicycles that were not pitched at the ‘sportsperson’ market.
The manually operated vehicles are designed in Perth and built elsewhere.
Recently, Flying Machine has started to branch out, including a more commercial bicycle line and establishing a special projects division that provides custom bikes to businesses like Rottnest Express.
Now the time has come, say the Andrew boys, to branch and seize the opportunity of the market they believe is there.
They are seeking $500,000 from sophisticated investors, which would value the business at a mere $1.5 million.
The Note has been told the business is holding an information evening next week at its premises in Mount Lawley.
