AM Online

Farmer takes 17% stake in eco-scooter business

Sir Tom Farmer has taken a 17% stake in ScootElectric, the eco-friendly scooter business which launched this year.

The deal, for an undisclosed amount, will see Farmer’s fast-fit franchise network Farmer Autocare appointed exclusive distributor in Scotland. In addition to those 10 outlets, Farmer intends to provide the capital to set up “two or three people” in standalone ScootElectric units in Glasgow and Edinburgh. “It’s an opportunity for someone to make a good business out of it,” he says.

Farmer, who claims the business “caught my imagination”, adds: “The product has a good future – I’ve ridden one and its ideal in the city, especially for couriers and delivery companies. I also see people keeping one in their garage for short trips.”

ScootElectric imports an eight-model range of 50cc-equivalent scooters from the Far East, Italy and the Netherlands with prices starting at £1,900, less a £200 Powershift rebate. Powered by rechargeable batteries, the scooters have a range of 30-50 miles.

Trevor Dodwell, ScootElectric managing director, says the business has taken around 250 orders.

He is targeting 1,400 sales next year, and 2,800 in 2006. And with 30 outlets now signed up, Dodwell is looking for more retailers to join the network. “We want 60 by the end of the year and a total of 100 next year,” he adds.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest

Login  /  Register


No comments have been made yet.