London Inc. Fall 2021 - 20

Upfront Franchising
SWITCHING GEARS
A bike shop on wheels proves to be the ideal
later-life entrepreneurial venture
Tom Panabaker
THESE DAYS, TOM Panabaker spends his working hours
driving around in a unique vehicle: a complete, mobile
bike shop on wheels, packed with a full set of tools, wi-fi, a
flatscreen TV and, soon, a coffee machine.
Panabaker recently launched the London franchise of
Velofix (www.velofix.com), a mobile bike repair concept
that first launched in Vancouver in 2012, went on to land a
$300,000 Dragons' Den deal in 2014, and now has more than
100 franchised territories across North America.
" What we offer is the complete mobile bike shop, " says
Panabaker. " We're in the business of fixing what's there,
everything from minor tune-ups to complete overhauls. "
The business model, explains Panabaker, isn't much more
complicated than that. Using an online booking system (or
phone option if they prefer), clients simply punch in a postal
20 | londonincmagazine.ca | FALL 2021
code and book an appointment with a Velofix mechanic.
" You select the time that works for you, and I come to your
house or your business at that time, " he says.
Generally, a bike servicing takes him between 60 and 90
minutes; customers are welcome to leave their bike with
him or stick around and use the wi-fi and coffee machine
packed into the van.
For Panabaker, starting a Velofix franchise came with
personal motivations, primarily tapping into his own
passions.
" I've been working with bikes for as far back as I can
remember, " he says.
While living out west, many of Panabaker's hobbies -
mountain biking, triathlons, Ironmans - were all bikecentric.
" I've worked in different sectors, but I've always
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London Inc. Fall 2021

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