Company

Cycle Freo will manage the bike network infrastructure (bikes, racks, IT and vehicles) and services (customer service, repair, marketing etc) will be setup as a Social Business. This is a business that is driven by achieving social objectives rather than monetary objectives (profit driven).

This structure means that the revenue made from the bike rental will be used to pay staff (normal industry wages – this isn’t a volunteer organisation) and maintenance of the infrastructure as well as marketing and promotion. These are all the normal business expenses however once paid the profit is invested in solving a social issue (there are many) this objective is measurable so that progress can be recorded and Cycle Freo makes a real impact.

In a revenue driven business profit is the measuring stick alternatively in a Social Business solving a social issue (e.g. reducing the percentage of homeless people, increasing the success rates of local entrepreneurs etc the opportunities are endless) is the determinant of success.

Cycle Freo is self sustaining through revenue generated by the bike rental program, advertising and private investment which will ensure the service is affordable to both local residents and tourists. Because the business is not driven by making a profit maximum use of the bike network rather than maximum profit ratio is possible.

Cycle Freo’s service will increase the health of people while helping the environment by reducing the number of people driving to work.

You can find out more about Social Business here.

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