WHILE the economic meltdown has had a negative impact on the majority of Suffolk's businesses, one firm today told how the recession had prompted a boom in trade.
WHILE the economic meltdown has had a negative impact on the majority of Suffolk's businesses, one firm today told how the recession had prompted a boom in trade.
Elmy Cycles, one of Ipswich's oldest and best known bike shops, is expanding after reporting bumper sales in recent months.
And owner Steve Grimwood believes the increase in trade is largely down to the public's desire to cut down on avoidable motoring costs and gym fees.
He said: “Business has been really good for us which has meant we have continued to grow.
“Although people are finding it tough, the bike trade seems to be recession proof. People are cutting down on using their car and on the gym and are riding bikes instead.”
After 87 years of trading at its current St Helen's Street base, Elmy Cycles is moving to a bigger store five doors down.
The new premises is twice the size of the existing shop and will also feature a performance showroom, a coffee shop, fitness room, full changing and shower facilities, and a car park.
There will also be space to host club meetings, AGMs and specialist training events, and will include a teaching room for Elmy's free cycle mechanics courses.
Hugh Porter, BBC commentator and one of Britain's greatest cyclists, will be on hand to officially open the new store tomorrow.
Mr Grimwood said: “We have always worked hard in trying to offer a good quality service and a little bit extra. I have a commitment to the town centre area, rather than moving an out of town location.
“Because of the economic climate, the opportunities were there to get new premises at a good deal.
“It has been a massive project to get up and running but our suppliers are full of praise saying the nearest bike shop like this is on the south coast in Plymouth.
“It's a very special shop.”
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Did you know?
Founded on January 30, 1922, Elmy Cycles began trading in a small converted front room of a house in Back Hamlet.
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