The name is the same, but the ownership of a long-running Manayunk cycling shop is changing hands.
Cadence Cycling and Multisport Center announced this week that its Main Street store is being sold to a trio of employees. Current general manager Brady Gibney, along with staff members David King and Mark D’Avino, will take the reins of the operation.
According to Gibney, Cadence will continue its core retail and mechanical services, and will resume in-store and online training for cyclists and triathletes, including personal coaching, indoor cycling classes, group training and physiological testing. Also planned is a 600 sq. foot expansion of retail space on the center’s second floor.
While retaining much of the classic Cadence character, Gibney said that the store’s product lines will be somewhat diversified, in order to attract new customers both to the store and to cycling.
“Ultimately, what we want is for people to fall in love with the sport like we love it,” he said.
‘We couldn’t say no’
With a combined 30 years working and actively participating in the cycling community, the new owners boast a wide experience in training, racing, coaching and retail experience.
Gibney, 32, first took up the sport as a student at Indiana University. After competing at the semi-pro level for several years, he relocated to Philadelphia in 2007 with his wife, who is originally from the area. He found Cadence shortly thereafter.
“The vision of what Cadence was really spoke to me as a bike racer, and as a person who loves everything about cycling,” he said. Gibney joined the sales staff shortly thereafter, eventually rising to manager.
The interests of the additional new owners complement Gibney’s love of competition. D’Avino, said his business partner, has worked in numerous bike shops and brings a love of bike gear and various cycling-related sports to the equation. King was described as being passionate about the performance side of competitive cycling.
Together, these elements made taking ownership a comparatively easy decision.
“This has always been more than a bike shop for me.” he said. “When the opportunity presented itself to take over – to continue to make it what my partners and the customers want it to be – we couldn’t say no.”
Jay Snider, founder of Cadence, said in a statement that the sale was a move to give the current management an opportunity to become entrepreneurs and business operators.
“I’ve learned that local ownership is key to meeting the needs of cyclists and triathletes in the Philadelphia community,” said Snider. “I know Cadence will thrive under Brady, Dave and Mark, who are passionate about the center and about helping the athletes in the community.”
Impact on Manayunk
Jane Lipton, executive director of the Manayunk Development Corporation, expressed enthusiasm on two fronts: in addition to being the development czarina of Main St., her family owns the Nickels Building, which houses cadence.
Personally, she hopes that Cadence is successful in its new venture.
Professionally, Lipton observed that Manayunk is known for bicycling. As such, “it’s vital to keep a business like this in the district,” she said.
Gibney shared Lipton’s observation about Main Street and its environs being a sporting destination.
“Manayunk is doing a lot of really cool things right now,” he stated, noting that dozens of fitness-oriented businesses existed within a mile radius of Cadence. “We’re all trying to get together to do this push of Manayunk is this young, fit place to come to.”
Gibney said that a district-wide “Fit Fest” is being planned for the week prior to the 2013 Philly Cycling Classic in June. In addition, Cadence will be hosting an open house to celebrate the new ownership on Saturday, May 4.
June 1 will see the launch of a new coaching program at Cadence.
With a large number of sporting retailers and increased interest and investment in nearby trails, Cadence’s new owners expressed optimism about Manayunk.
“We just bought a bike shop here,” said Gibney, “so we believe in it.”