Currently there are many bicycle manufacturers however a majority of these do not specialize in folding bikes but the current biggest folding bike manufacturer in the UK is Brompton which generated a revenue of 28.
4 million pounds as per 2016 there are also a number of other competitors such as Giant Bicycle, A-bike and GOGObike currently the market is not too big so The Bicycle Shop has a chance to compete with these companies who are already in the market as the market share of the folding bike market sector is only 0.4% and started back in 2010. The target market for the bicycle will be for those who are on the move a lot, students for example who may catch the bus and need to walk the rest of the way to college or University or those office workers in big cities who don’t want the risk of getting their bike stolen or the trouble in finding parking spaces so they would rather take the bike with them.Things that could influence the folding bike market, attracting more consumers to the market will be a rise in petrol costs causing many consumers to want to travel by public transport or bike but then there’s the risk of their bike being stolen or still having to walk a majority of the distance to work or university, therefore, they will start to look at folding bikes which are lightweight portable and unlikely to be stolen definitely in big cities or high crime cities. A negative influence on the market which may cause no one to consider getting a folding bike will be the “FREE” download and go bicycles where you download an app and scan a code on the bicycles (which are placed all around the city) which unlocks the bikes and you can ride it. This has a negative impact on the folding bike market as this kind of transportation is very cheap and doesn’t involve carrying around a bag with a bicycle costing over 250 pounds, if the download and go bicycle market where to grow worldwide the folding bike market, as well as the standard bicycles, will have a huge decrease in the market share.A major influence on the market will be the increasing number of bikes being stolen around South East England and other places around the country, this can put many people off in buying a bike, however, those who need to buy a bike or use one will be encouraged to get a portable folding bike as the chances of the bike being stolen is near to nothing.