How to Start a Motorcycle Rental Business
Starting your own motorcycle rental business.
This post offers tips and insights to help you get expert information from the only people qualified to advise you about starting and running a motorcycle rental business. In addition, you have access to the steps you need to take, plus a bonus section with resources that will help you before you start your business and after it’s up and running.
How To Start A Motorcycle Rental Business
Follow the steps below to start a motorcycle rental business
1. Research the Industry
The best information you can get about starting a motorcycle rental business is from people already in the business. So let’s look at a few ways to acquire this information.
a.) An Inside Look at The Business
Look for a motorcycle rental business for sale. Contact the owners. Tell them that you’re planning on starting your own motorcycle rental business, but before you do, you want to look into buying a business that’s already in operation. Make an appointment with them to tour the business and discuss the opportunity.
Create a list of questions about every issue you want more clarity about.
When you meet with the owners, start with questions that relate to their personal experiences so that you get to know them better and they open up to you. For example, you can use questions like the following:
- How long have you been in the motorcycle rental business?
- What attracted you to this business?
- If you had to start over again, what would you do differently?
- What are the most difficult challenges you face in the motorcycle rental business?
- Why are you getting out of the business?
- What did you like most about your time running this business?
The above questions speak about the owner’s experience and allow them to open up to you, and you get to know them a bit more while getting information about the business.
The above questions have allowed you to comprehend the challenges of running a motorcycle business and what the owner would do differently to avoid those issues in the future.
Next, you can get into questions about the business. For example, you might want to use some of the following questions:
- How much revenue did your business generate last year?
- How much gross profit did you have last year?
- What are your highest expenses?
- How many people do you, employee?
- How much do you pay them?
- Is there debt owing on the business?
- Are there any liens against the business?
- Are there any lawsuits against the business?
- What assets does the business own?
- Tell me about your customers.
- How many of your customers are repeat customers?
Don’t forget to ask the questions you created before the meeting.
You will want to repeat this process for each of the businesses you found for sale. You may find a business that’s a good match. However, don’t make a final decision unless you review all the businesses for sale. Once you have reviewed all the businesses, it’s time to move to the next step.
Look into Franchise Opportunities:
You will want to see what franchise opportunities exist in the motorcycle rental industry.
If you find anything that appeals to you, contact the company representatives to meet with them and discuss the opportunity. Because franchise representatives speak with many people about the opportunity, most of your questions will be answered in their presentations.
It doesn’t mean you can’t have questions of your own and it’s probably a good idea to prepare some. But, once you’ve gone through all the franchise opportunities, it’s time to move to the next step. What You Need To Know About Owning a Franchise .
Contact Existing Business Owners:
Now it’s time to look for established motorcycle businesses. Contact the owners that you’re not in competition with and preferably businesses that are distant from your location so that you don’t cause a threat to them, and they don’t see you as competition.
Tell them your intention to gain information about starting a motorcycle rental business.
Let them know that you won’t be competing with them and that your intention is to gain information from someone as experienced as them. Also, let the person know that you would be interested in sharing information about your business once it’s up and running. You could build a working relationship with them to brainstorm ideas.
You will get many people who will resist your offer because they see you as a threat or don’t have the time. However, it doesn’t mean you shouldn’t try because those willing to talk to you can become friends and turn into a long-term relationship.
Published Motorcycle Business Owner Interviews:
Next, you’ll look at published interviews related to motorcycle rental business owners. Of course, becoming successful at running a business takes time, strategy, and determination.
When business owners publish their experiences, that’s something worth looking into and something you should be searching for. This information is priceless. They’re willing to share their experience with you. It’s something you want to listen to. By searching for interviews published online, you can learn a lot.
Performing all or part of the above exercises gives you insight information You can count on from qualified people.
Even if you spent a few weeks on the above exercises, in the long run, you’d be better equipped to make decisions about starting your own motorcycle rental business, and the information you acquire takes you to the next level. Search Results Related to Interviews From Motorcycle Rental Business Owners.
For more on this method, see An Inside Look Into The Business You’re Considering.
b.) Expand Your Knowledge of the Rental Industry
Whatever business you start, it’s important to understand the industry. The more you know about the industry, the better off you’ll be with starting or running your business. Many online resources are available to gain information and stay up-to-date with your industry.
Some of these resources include industry publications, blogs, newsletters, videos, social media, etc. it’s worth the time you invest in understanding and staying up-to-date with your industry.
Click Here for the Latest Publications Related to a Motorcycle Rental Business.
c.) Choosing a Business Location
The location you choose for your motorcycle rental business is an important factor related to the success of your business.
For example, if you locate in an area with no demand for motorcycle rentals, it would be foolish to open in that location. On the other hand, it will be difficult to gain any market share if you locate where the market is saturated with motorcycle rentals. Therefore, your optimal area would be a populated city with a demand for motorcycle rentals, and the competition is at an acceptable level.
You also want to consider the climate of your location. For example, if you’re in the northern hemisphere, you can expect motorcycle rentals during the summer. However, locating in a warmer climate where nice weather is all year round translates to more business.
You’ll also want to check with your local municipality or City Hall for any reason zoning restrictions.
For more, see Choosing the Best Location for Your Business.
d.) What Type of Motorcycle Rental Business Will You Start?
Have you considered what type of motorcycle rental business you want to start? Some of the issues to consider are as follows:
What type of bikes will you rent? Are you considering high-end Harleys? Dirt bikes? Lo-end street bikes? Are you also considering scooter rentals?
When it comes to the services you’re offering, it’s best to see what’s in demand. Business can be simple, “find out what your customers want and provide it.”
2. Choose a Business Name
The name used for your motorcycle rental business should be memorable and something that you’ll be happy with because this is the name you will use as long as you own your business.
You may already have a name in mind, or you can use sites that list names for a motorcycle rental business. You will also find name generators that can help fuel your creativity.
I would suggest you come up with a list of names that make sense to you. Then, put that list aside for a few days and come back to it, and you’ll see it from a fresh perspective. Once you have chosen the top three to five, see which names are available for registration along with a matching domain name for your website.
Sometimes the name you settle on is already taken, and you’ll have to go onto the next one on your list.
For Motorcycle Rental Business Name Ideas, See Google’s Latest Search Results.
3. Legalizing Your Business
a.) Decide on a Legal Structure
Even though a sole proprietorship is the simplest and cheapest to set up, it offers the least protection for your personal assets. So, for example, if your business goes bankrupt, your personal assets are at risk.
On the other hand, if you choose to create a limited liability company that went bankrupt, your personal assets are protected because, in the eyes of the law, a limited liability company and you are separate entities.
When it comes to structuring a business, I like to use the advice and services of a professional such as a lawyer, an accountant, or a company specializing in structuring companies.
For More, See How To Register Your Business Using These Resources.
b.) Get a Tax Id
Depending on your setup, the size of your business, and whether or not you have one or more employees will determine if you need a tax ID at this point or not.
Also, if you use a professional to help you set up your legal structure, they will let you know based on your circumstances whether or not you need a tax ID at this point or not.
For more see Here’s How To Get A Business Tax Id
c.)Local Permits and Regulations
In addition to your state or provincial license, you want to check with your local municipality or City Hall to determine if you need any additional local permits for your motorcycle rental business. You’ll also want to check for zoning restrictions for the location you have chosen.
Visit the Licensing and Permits Page for More Information.
4. Create Your Corporate ID
A corporate ID consists of the design of your logo, business cards, letterhead, rental agreement, checks, envelopes, etc.
Corporate IDs can be costly, and you will want a professional design because it’s a part of branding your business, and you want to leave a good impression on your customers.
However, when starting out, you can probably get away with business cards and a logo along with the rental agreement, and you can complete the rest when your business is more stable.
For More See:
How To Design A Business Logo – Make it Good It Might Last Years .
How to Design Business Cards That People Will Pay Attention To
Business Signs – Have a Look at These Ideas.
A Complete Introduction to Corporate Identity Packages
5. Estimating Your Start-up Cost
No one can tell you how much it will cost to start your business. You may be able to get an idea, but unless you have a clear plan of how you’ll set up your business, you won’t be able to tell how much money you need to get started.
For example, will you be leasing motorcycles to rent, or will you be buying them? And if you buy them, will they be brand new or will they be used motorcycles? Will you purchase a building to operate out of, or will you rent one? All these issues come into play when estimating start-up costs.
To start, make a list of all the issues you’ll need to start your business. Naturally, you won’t include all of them in the beginning. But as you start to get pricing, other issues will start to show up, and you can add them to your estimate.
For more see Estimating Start-up Costs: Are You Missing Anything?
6. Writing a Business Plan
You need to create a business plan for your motorcycle rental business. It’s an essential business document.
A business plan has two benefits. Number one, it acts as a guide and keeps you on track during the start-up phase and when your business is up and running. Also, keep in mind, you can adjust your business plan or operations as needed.
The second benefit is to get funding for your business. You must have a business plan. If you don’t have one, a lender will not even process your application.
To create a business plan, you have a few options but keep in mind no matter what option you use, you are the one that has to provide the information that goes into the plan. The information you’ll be using digs deep into the planning process.
For example, it makes you think about how you get customers, what type of customers you’re targeting, what makes your business unique, etc. Many similar questions make you think about where you’re going and how you’re going to get there. So, even though it is a process to go through, it’s beneficial because it forces you to think about what you’re doing and how you’ll achieve your goals.
To write a business plan, you have some options. First, you can use a template and fill in the blanks. In addition, there is software on the market that you can use to guide you step-by-step to create a great business plan. Or, if you’d like, you can hire a professional to write your business plan for you.
For more, see How To Write A Business Plan.
7. Banking Setup
Choosing a bank.
You’ll need a bank for your motorcycle rental business. And it’s not so much the bank as it is the banker you deal with. If you have or develop a good relationship with a banker, it will benefit you as a business owner. A good relationship with a banker can give you valuable advice and help you get loans when you need them.
Naturally, they can’t approve a loan for you if your credit is horrible, though if there are a lot of red flags in your application. But they can guide you and help you along the way to get approved.
For example, you have been working with your banker for several years. As a result, they understand how you operate and understand your business.
A deal comes along for a line of motorcycles, and you need funding quickly to take advantage of the deal. Because of your relationship with your banker, they’ll do what they can to get the loan approved quickly.
Consider everything is the same as the above example, except you don’t have a relationship with your banker. Do you think you could get the loan approved quickly? Probably not because your banker doesn’t know you or how you operate, so they deal with your application by the book.
For more, see our page on How To Choose A Business Bank.
Acquiring a Merchant Account
The majority of your customers will pay you using a credit card. Therefore, you need to apply for a merchant account to process those payments and immediately have the money in your account.
Again, a good relationship with your banker will help you with the application process and make sure you get approved.
See How To Open A Merchant Account for more information.
8. Get the Funding for Your Business
You may have enough money to start your motorcycle rental business, or you may need to get funding. If you’re going to be applying for a loan, then it’s time to make copies of your business plan and make appointments for funding.
It’s important to note that banks view start-ups as high risk because many businesses fail in the first few years of operation; therefore, they would rather find an established business with a good track record than take a chance on a new business. With that in mind, you shouldn’t get discouraged if your loan application is denied; instead, find out the reasons and try and address them before moving on to the next lender.
Also, take a look at our post on, Getting a Small Business Loan .
9. Software Setup
When considering software for a motorcycle rental business, you’ll want something that will track your motorcycles when they are out for rent, as well as a program that tracks maintenance so that your motorcycles are maintained correctly and in top working condition. You’ll also need a package for bookkeeping. You must track all revenue and expenses for the business so you’re ready when tax time approaches.
You may find a software package specialized for a motorcycle rental business, or you may need to use two or three different software packages in your business.
Take some time to see what’s out there and when you find something that appeals to you, make sure you read the reviews to get a sense of what other people have experience with the software and see if you can get a demo before purchasing the software.
Check Out Google’s Latest Search Results for Software Packages Related to a Motorcycle Rental Business.
10. Get Your Business Insured
Before opening your doors to the public, you want to guarantee your business is insured to protect your customers, employees, property, and assets. Even before you step into your place of business, you must have insurance. You never know when an accident happens, and you want to be fully covered in case of any incident.
A competent insurance broker with experience with rental businesses can be a great asset as they can advise you on the best type of insurance you’ll need.
You may want to consider interruption insurance that will keep your average revenue flowing in case of an incident like a fire that forces you to close your business until repairs are completed.
You also have to look into insurance for people that want to rent your motorcycles. Some rental businesses offer an option to decline the insurance and use their personal insurance in case of an incident. Finally, you want to get very clear on the procedures and regulations of the people renting your motorcycles.
For more, see our page about business insurance.
11. Office Setup
You will want to set up a fully functional office that is organized and set up according to your preference.
Your office is your control center. It’s where you’ll do most of your management and administrative tasks. Therefore, you need it to be organized, equipped, and set up, so it’s comfortable because the more successful your business becomes, the more time you spend in your office.
For more see, Here Are Considerations for the Setup of Your Office.
12. Choosing Suppliers
Suppliers play an important role in any business, especially if they deal with unique products that they control. Therefore, it’s important to treat your suppliers with respect and as part of your business.
Your suppliers could be where you get your motorcycle, parts, and maintenance supplies for a motorcycle rental business. Whatever the case, it’s a good idea to build a strong relationship with any suppliers you have.
For more see, How To Choose a Supplier You Can Depend On
13. Create an External Support Team
An external support team is the people you use for advice and services. These are people that are not on your payroll and don’t work for you directly. Instead, they are people that you will use when needed. You’ll pay some of these people on a retainer and others hourly.
People that may be part of your external support team may include the following:
- An accountant
- A marketing consultant
- A business strategist
- A motorcycle mechanic
- A graphic designer
Treat your external support team as part of your business. Get to know these people before you need their services. So when you do need them, you already have a relationship. You can keep in touch by a simple phone call once in a while or an email to see how they’re doing and let them know how you’re doing.
For more see, Building a Team of Professional Advisors for Your Business
14. Hiring Employees
In the beginning, you may be doing all the work yourself. Still, as time goes on and you become more successful and expand, you may require help with either managing the business or clerks to rent motorcycles and possibly a maintenance team to repair and maintain your motorcycles.
When hiring, it’s important to hire qualified people for each position. An error in hiring can cost you dearly in lost time and money you can’t get back.
When you’re considering hiring for a position, you’re better off looking at the total cost of hiring per year instead of looking at the hourly rate. For example, consider the staff of just four people will cost you in the six-figure range every year. When you look at it from that perspective, you ensure you’re hiring the right person the first time around.
For more on hiring, see How and When to Hire a New Employee.
What To Consider Before Starting
You have now gone through the steps required to start your motorcycle rental business. Next, let’s look at a few important issues you’ll want to consider before getting started. Take your time to go through the following issues. They will determine if you will be going ahead or not.
Is Running a Business Right for You?
Many people start a business for various reasons. Such as the following:
- Many people want to get away from a job.
- Some want to be in control and be the boss
- Others want the freedom and lifestyle associated with owning a successful business.
- You have a group of people passionate about the business they’re running.
The above are valid reasons for starting a business. However, I think the most important is being passionate about your business. When you have passion for the business you’re running, you’ll have the drive you’ll need to become successful.
Running a business and making it successful isn’t easy. However, you will look for solutions rather than an exit strategy when problems occur when you have passion.
Let me ask you this, if you had all the money you would ever need for the rest of your life and you had the freedom to do whatever you wanted, would you still start a motorcycle rental business? If you answered yes, you’re passionate about what you’re doing, and you’re on the right track. If you answer no, then what would you be doing, and should you be pursuing that instead?
For more, see Reasons To Start a Business
Do You Have the Skills?
For example, you could hire a manager to run the business. You could take a course in small business and learn as you go.
In addition to skills in business as a motorcycle rental business owner, you must be at least knowledgeable when it comes to motorcycles. You should have your motorcycles license and be knowledgeable about the different brands. It will help you connect with your customers and answer any questions.
Again if you’re not skilled or have experience with motorcycles, you can learn the skills you need and become known as you go.
For more see, Do You Have These Essential Skills Needed To Run a Business?
Is It Better To a Business From Scratch or Buy One?
There are pros and cons to buying an existing business. Earlier in this article, we discussed getting insight information from business owners and looking for businesses for sale. Here will look at a couple of pros and cons of purchasing a business instead of starting your own.
When you purchase a business already operating, you bypass the start-up stage, which takes a lot of time and planning.
One of the main reasons someone decides to purchase a business is goodwill. This means you take over the customer base, the assets the business has, and the business’s reputation, which took time and money to build.
When you purchase a business, you purchase the good and bad. The business may have extensive debt, have a problem with its reputation, and even have pending lawsuits against it.
If you’re purchasing a business set up in one way and want to change it, you may lose customers because they are accustomed to operating in a certain way. So you change it, and the existing customer base may not like it. Naturally, it doesn’t apply to improvements you make to the business or small changes. It’s when you want to make large changes, and if this is the case, you may be better off starting a business from scratch and setting it up in the direction you want from the beginning.
Click Here To View a Motorcycle Rental Business Listed for Sale From Google’s Search Results.
Should You Consider a Franchise?
There are pros and cons to getting into a franchise.
Some of the pros include:
Everything is planned. You simply follow the plans for setting up your franchise and the operational procedures established by corporate. In some cases, corporate will even have their contractors come in and set up the business for you.
You don’t have to worry if the business will work or not because you’re working with a proven plan that is operational in other locations.
You benefit from corporate advertising for the entire franchise.
A successful franchise is well known. So your customers already know what to expect. Compare it to Enterprise Car Rental or a McDonald’s. Whatever location you go to, everything is very similar regarding looks or operations.
You receive training and support from the head office.
Cons of getting into a franchise:
Some cons include ongoing franchise fees that you usually pay as long as you own your franchise.
You have little control over the operation of the business. All locations must be standard, and you must follow corporate’s outline. Even little changes must be approved by corporate.
You don’t have any control over the products and services. You can only provide those approved by corporate.
To Browse the Marketplace for Motorcycling Franchise Opportunities, See the Latest Google Search Results. Also, see, What You Need To Know About Owning a Franchise .
Below you’ll find a collection of resources you can use when setting up your business and once your business is up and running. One of the benefits of these resources is they lead to information that’s always updated. So you can come back in a month or so, and the resources will be fresh and up-to-date.
Another benefit is there may be resources you haven’t considered, and going through them may give you new ideas and insights into the motorcycle rental business.
Trends and Statistics
Trends and statistics are one way to learn about your industry. You’ll be able to understand how the industry is doing, whether it’s on the rise or declining.
You also get tips and insights that you can use, especially if you find something lacking in the industry and incorporate it into your business.
Click Here for the Latest Google Search Results Related to Trends in the Motorcycle Rental Industry.
Terminology
Understanding the terminology of your business is important. Whether you’re speaking with suppliers or customers, you must be familiar with all the terminology. A knowledgeable business owner leaves a good impression on customers.
It’s also worth noting the more informed you are more comfortable you’ll be running your business.
Search Results Related to Terminology in the Motorcycle Rental Industry.
Will you need any equipment for your motorcycle rental business?
It will depend on whether or not you own and service your motorcycles. If you are planning to service your bikes, purchase tools that are commercial grade and will last you many years. The right tools allow you to make repairs quickly and effectively.
Click Here for the Most Recent Google Search Results Related to Motorcycling Equipment.
Associations
You may also want to consider joining your local Chamber of Commerce. It allows you to get to know the local businesses in your area and bring awareness to your own business.
You could even create an event with the Chamber of Commerce. The event would have something to do with motorcycle riding. And this would allow you to introduce your business to the members interested in participating in the event. In addition, this would bring a lot of awareness to your rental business because the chamber would advertise the event.
Click Here To View Associations Related to the Motorcycle Rental Industry. You May Also Want To Check Out Our Page for Tips and Insights About Joining a Trade Association.
Top Motorcycle Rental Businesses
Studying successful, established motorcycle rental businesses will give you an overview of what others offer.
You may come across an idea or find something missing that the other business owners provide. Then, you can incorporate them into your own business, which may give you a competitive edge.
You may also find something that the other business owners are offering you haven’t considered, and you can incorporate that into your business.
Search Google for the Top Motorcycle Rental Businesses
Marketing Tips
The majority of businesses in the world rely on marketing for customers. Without customers, you don’t have a business, and without marketing, it’s very difficult to get customers unless you are in an area where your business depends on walk-in traffic.
Going through marketing tips online is a great way to stay up-to-date with the latest tips and insights for marketing your motorcycle rental business. You can schedule a time once a week or at least once a month to study Marketing Tips.
When studying marketing tips, I find in the first few minutes, I usually come across a tip I can use, and I put that in place before moving on to the next tip. So if you implemented one tip once a month and 50% of those were successful in one year, you’d have six successful marketing techniques that bring you customers and business.
Have a Look at the Latest Articles for Marketing a Motorcycle Rental Business.
Motorcycling Tips
As a motorcycle rental business owner, you must have knowledge related to cycling. You want to provide tips and insights to people renting your motorcycles, and to do that, you have to be knowledgeable about motorcycling. Although you may already have experience, that doesn’t mean you can’t stay up-to-date with what’s new and online tips.
Have a Look at the search results for tips related to Motorcycling.
Books are another great way to learn about any topic. For example, you can learn about running a motorcycle business, running a small business, learn more about motorcycles, repairs, etc.
A time saver for nonfiction books is you don’t have to read the book cover to cover to get the information you want; instead, you can browse through the table of contents and go to the chapter for the information you want.
View the Most Recent Google Search Results for Motorcycles
Another way to keep up-to-date with your industry is to follow the news. When the media picks up a story related to your industry, you know it’s a hot topic.
You wouldn’t wait for the evening news to see what’s related to the motorcycle industry in the media. Instead, you could use Google’s new site to see what’s new in the industry.
Simply type in your keyword, and you’ll have all of the newest new stories as well as archived news.
See Google’s News Search Results Related to the Motorcycle Rental Industry.
Twitter is one of the most powerful social media sites online today. People tweet their thoughts and opinions in a few words. However, it’s important to note that many tweets provide links to resources and articles containing valuable information.
Using Twitter’s search function allows you to filter Tweets to display the topics you’re interested in.
See the Most Recent Tweets Related to Motorcycling
YouTube is an excellent source for tutorial videos. You can find videos on virtually any topic. Just type in your keyword, and you’ll have a list of videos you can view.
One function I like about YouTube is it will list related videos to your keyword and many of those videos you may not have considered. Therefore, it helps you widen your perspective by looking at related videos.
Another feature I like about YouTube is the length of time for each video, which allows me to decide if I want to watch a two-minute video or make time later on for a one-hour video.
See the Most Recent Videos Related to a Motorcycle Rental Business.
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How to Start a Motorcycle & Motor Scooter Rental Business
Entrepreneur Guidance
Here's some helpful information that is written for those who are thinking about starting a motorcycle and motor scooter rental business. Read this article before you start!
Thinking about opening a motorcycle and motor scooter rental business? We tell you what you need to know to get started.
Motorcycle and Scooter Rentals
Many entrepreneurs have done well by starting a motorcycle rental business. Take EagleRider, for example. They pioneered the Harley-Davidson motorcycle rental concept and the guided motorcycle tour business back in 1992 and are still going strong. You can rent Harley, Honda and BMW motorcycles from them. Scooter rental businesses are equally popular. These businesses are part of the recreation and specialty travel market, which is currently growing at a much faster rate than the rest of the travel industry. Motorcycle rental and scooter rental makes sense for businesses that are already selling motorcycles and scooters. In effect, you can offer a try-before-you-buy option to your customers. The end result is increased sale of both new and used motorcycles and scooters.
Elements of a Motorcycle & Motor Scooter Rental Company Business Plan
Every business plan is unique. However, the most effective business plans do address specific sound business plan elements :
- Mission Statement Your description of your motorcycle and motor scooter rental business's reason for existing.
- Goals & Objectives Goals are broad targets; objectives are the tactics you'll use to reach your goals.
- Financial, Marketing & Action Plans Specific plans that describe your business environment, demographic targets and quantitative estimates.
Evaluate the Competition
Before you open a motorcycle and motor scooter rental business in your town, it's a good idea to see how many competitors you have. Try our link below to get a list of local competitors nearby. Just enter your city, state and zip code to get a list of motorcycle and motor scooter rental businesses in your community.
- Search for Motorcycle & Motor Scooter Rental Businesses Near You
It's important to be aware of what the competition is doing. Take the time to visit the competition to properly assess their strengths and weaknesses.
A Good Source of Advice
As part of your due diligence on opening a motorcycle and motor scooter rental business, you really ought to have a conversation with someone who is in the business. If you think owners of nearby motorcycle and motor scooter rental businesses will give you advice, think again. The last thing they want to do is help you to be a better competitor.
But, a person who owns a motorcycle and motor scooter rental business in a location that is not competitive to you may be willing to share their entrepreneurial wisdom with you, given that you don't compete with them in their area. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where can you find a motorcycle and motor scooter rental business entrepreneur in another community?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
- Search for Motorcycle & Motor Scooter Rental Business Owners
Top Three Reasons to Buy an Established Motorcycle & Motor Scooter Rental Business
It's almost always preferable to buy a motorcycle and motor scooter rental business than to pursue a motorcycle and motor scooter rental business startup.
You'll want to conduct a comprehensive due diligence process , but here are three arguments why you should think about buying instead of a startup.
- Initial Revenue. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Operational Efficiency. When you're shopping for a motorcycle and motor scooter rental business, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Funding. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Speed to market is an essential factor in startup success. Franchise startups dramatically shorten the startup cycle, giving your business a fast track to earnings, profits and growth.
While it's true that franchising has both benefits and drawbacks, our rental franchise directory will give you the tools you need to evaluate whether a franchised startup is a good fit for you and your goals.
- List of Rental Franchises
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How Much Does It Cost To Start A Motorcycle Rental Business? (In 2023)
Wondering how much it costs to start a motorcycle rental business?
- The minimum startup costs for a motorcycle rental business: $12
- The maximum startup costs for a motorcycle rental business: $37,876
- The average startup costs for a motorcycle rental business: $19,815
Here's a detailed list of a motorcycle rental business startup costs:
Learn more about starting a motorcycle rental business :
Where to start?
-> Pros and cons of a motorcycle rental business
Need inspiration?
-> Other motorcycle rental business success stories -> Examples of established motorcycle rental business
Other resources
Equipment & Supply Expenses
Starting a motorcycle rental business may require purchasing some equipment, whether that's for producing the product or packaging the goods, or equipment needed in the back office.
Retail Business Expenses
If you plan to have a brick & mortar location for your motorcycle rental business, you must weigh the costs of your rent, as it may be the most expensive part of running your business.
Rent costs for your motorcycle rental business very much depends on your location. This cost will vary by both region and specific areas of town: a lease in the heart of Manhattan could cost over $80,000/month in rent. Meanwhile, a storefront lease in Florida or Tennessee could cost less than $1,000/month.
Software Expenses
Your motorcycle rental business needs software to run efficiently!
Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.
Inventory Expenses
If you sell a physical good, you'll likely have to start with some inventory.
Advertising & Marketing Costs
Website costs.
Every business should have a website, and it's worth spending a bit of money to set it up right.
- 24 Pros & Cons Of Starting A Motorcycle Rental Business (2023) 1 of 3
- 5 Motorcycle Rental Business Success Stories [2023] 2 of 3
- 42 Trending Motorcycle Rental Businesses [2023] 3 of 3
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How to Start a Motorcycle Rental Business
by Editorial Team
Published on 26 Sep 2017
Properly set up and managed, a motorcycle rental business can be a highly profitable venture. Many people want to enjoy a ride on a fast two-wheeler, but don’t want the hassle of owning and maintaining their own motorcycle. This is a market you can serve. Then there are ardent motorcyclists from far away who happen to be visiting the city you will be operating in, and who, too, might want a ride if they can get it. This is yet another market you can serve. Here’s how to get started in such a motorcycle rental business.
Acquire in-depth knowledge of motorcycle maintenance and repair. This might seem too obvious to state and superfluous if you are a long-time motorcycle user. But the truth of the matter is that you will be in the motorcycle business as a provider this time, and you need to know all the ins and outs of the business if you are to be successful. This includes knowing (or at least having a good idea) about things you would previously have just left to the mechanic. With the wealth of information the Internet has brought to your fingertips, getting in-depth information on motorcycles, complete with the finest nuances should not be really hard—if you have the drive.
Develop a business plan. The process of developing a business plan will bring you face to face with various facets of the business you would have otherwise ignored. At the very least, the figures and facts you will have to consider in making such a business plan will put into great detail the reality of just how much you will have to put into the business and what you can reasonably expect in return from it. The business plan should also serve as your blueprint when you get to rolling out the business.
Obtain financing for the business. This might involve approaching a financier like your bank or another financier with the business plan you developed in step 2, and having them lend you the money you need to set up your operation. Even if you provide the financing for the business yourself, however, you still need to view yourself as a lender to the business, and make an objective decision—based on the figures and facts in the business plan you developed in step 2—as to whether it is something you would finance.
Purchase the motorcycles. The type of motorcycles you go for will depend on how much money you have to put into the venture, how you want to operate the business (as per the business plan from step 2) and so on. Shop far and wide though, and ensure that the machine you put your money into is the best you can possibly get for the price. As it turns out, motorcycle prices can vary greatly, even between two vendors in the same city. And while you're at it, ensure that you go for a machine that your clients are likely to be impressed with (this is a business where looks count) and a machine that you can find spare parts for easily—because one thing you will have to contend with as a motorcycle renter is relatively frequent breakdowns.
Acquire other business (support) equipment. In addition to the motorcycles themselves, you will also have to acquire other equipment you need for the business, including helmets that you provide to the riders (if these are not sold with the motorcycles) as well as basic garage equipment for the maintenance of the motorcycles. You will also have to get office equipment for the facility from which you will be running the motorcycle rental business.
Develop a viable operations system. This should address operating hours for the business, a maintenance schedule for the motorcycles (to which you should religiously adhere), as well as risk management and insurance measures given that the risk of someone renting a motorcycle and then stealing it is very real. You need to think about legal, insurance and liability issues in order to protect your business from the variety of risks that could impact any business. It is important to become familiar with state and local regulations, as well as the agreements that customers sign when they rent that would waive you from any liability.
Sample Business Plan: Bob’s Rent-A-Bike
- Business Ideas & Tips
- Finance Your Business
- Market Your Business
- Keep Your Business Compliant
Business Know-How
Writing a business plan is important, as it’s the foundation of any viable enterprise. Your business plan should be a living and breathing document that contains your goals and your plan for reaching them.
In the early planning stages of your business however, you may want to consider starting with a simpler, one page business plan. Use our bike business plan sample to help you create yours.
Let’s look at a sample business plan to help you get your business started!
Business Plan Sample
BOB’S RENT-A-BIKE, LLC
Bob Adams, Founder
1000 Main Street
617-385-9000
This business plan is confidential.
Related: A Guide to Writing Your First Business Plan
Business Concept
We will be part of the large and growing bicycle rental industry. Our target market is summer visitors to Cape Cod, particularly central Cape Cod. We will be differentiated from competitors in that we will deliver rental bicycles directly to our customers at their motels, campsites, or summer rental residences.
Current Situation
We are a start-up business founded as a Limited Liability Company (LLC). At this point we have assembled a detailed operating plan, including promotional plans. We have arranged access to a station wagon to deliver bicycles and a garage to store them in. We have started to carefully buy used bicycles in excellent quality at very reasonable prices.
We have available capital of $2,500 from the founder’s personal savings and we seek an additional $7,500 investment from outside investors in order to be able to complete the purchase of our rental fleet.
Key Success Factors
What will really set us apart from the competition is that while our competitors rent bicycles from fixed rental locations, we will deliver our bicycles directly to our customers’ motels, campsites, and summer rental residences.
Another important differential is that our cost base is dramatically lower than that of our competitors. For one, we are going to buy used bicycles in a very disciplined way to build our rental fleet, whereas our competitors buy new bicycles. We estimate that we can buy quality used bicycles for approximately half the cost our competitors spend for new bicycles.
We will also have very little labor cost. Bob will draw a salary of just $10 per hour. There are other employees. Bob has ridden bicycles for many years, is handy with tools, and believes he can do most basic bicycle repairs himself.
Bob is young, energetic, and willing to work 24/7 to make this business a success!
We will also have very low overhead costs. We will store bicycles in an old garage (previously converted from an outhouse) on our family property. Bob will use the family station wagon, only paying for gas, to service the business.
Bob also has a good neighbor and friend, Harold Perethian, who runs a large bicycle wholesale business, who lends additional advice and provides wholesale prices for accessories and parts.
Financial Needs
The business will require a total of $10,000 in financing. The founder, Bob Adams, is contributing his personal savings of $2,500 and he is seeking an additional investment of $7,500. Of the total $10,000 in financing, approximately 75 percent will be invested in building a rental fleet of high-quality, carefully selected and negotiated used bicycles.
We expect the business to be highly profitable and for investors to potentially earn back their investment very quickly.
Vision Statement
Over the next few summers, we expect Bob’s Rent-A-Bike to become one of the leading players in the highly profitable and growing market for bicycle rentals on Cape Cod. By reinvesting part of our profits from our initial summers, we plan to expand our fleet and increase our advertising, eventually expanding our promotional activity throughout the entire area.
- Complete operating plan developed. Done.
- Initiate purchase of used bicycles. Done.
- Complete purchase of bicycle fleet. June 15th.
- Complete delivery of flyers by bicycle to motels and campsites. June 20th.
- Initiate rental operations. June 21st.
- End of season sale of bicycles being disposed of. August 20th.
- Last day of rental operations for season. September 1st.
MARKET ANALYSIS
The Overall Market
The overall sale of bicycles and related items in the U.S. in 2015 was estimated to be $6 billion, according the National Bicycle Dealers Association. However, with the average bicycle dealer deriving just 0.8 percent of their revenue from rentals, the market for bicycle rentals would be about $48 million.
Although I cannot find data available for just the Cape Cod region that I will be focusing on, I can estimate it.
I start with my estimated number of bicycles available for rental of about 1,300.
The majority of rentals are single-day rentals. For simplicity, I will assume all rentals are single-day rentals.
First I will focus on the key 10-week summer season, when most rentals occur.
I estimate from anecdotal information and limited personal observation that, including off-weather days, rental bicycles average a 40 percent utilization rate during the summer season, or in other words, are rented for an average of 28 days.
Therefore, the total rental days during the summer season are 28 days per bicycle x 1,300 rental bicycles = 36,400 rental days.
Then I adjust for off-season rentals. I estimate that 85 percent of the rentals occur during the summer season, so the total rental days including the off-season would be 36,400/0.85 = 42,800.
Then I estimate the average daily rate to be $25. Multiplied by 42,800 rental days, I therefore estimate the total current market for bicycle rentals on Cape Cod to be $25 x 42,800 = $1,070,000.
Also, I believe the total possible market is larger, particularly because many rentals are an impulse decision. So every time a new rental stand is set up, I believe the market incrementally expands. Furthermore, with my introduction of bicycle rentals delivered to motels, campsites, and summer residences, the market may expand further.
Changes in the Market
I believe the market for bicycle rentals on Cape Cod is continuing to grow and is fueled by a number of favorable factors.
The rail trails, old railroad lines converted into bicycle trails, are becoming increasingly well known and popular and especially important to the segment of the population that will only take on the expense of a rental bicycle if they can ride it on a dedicated bicycle trail.
People are generally pursuing more healthy lifestyles, especially on vacations, and are increasingly more likely to want to bicycle on vacation.
Many people are becoming increasingly discerning about the quality and type of bicycle that they wish to rent.
Market Segments
There are a number of different ways you could segment the market for people seeking to rent bicycles.
By Quality and Price
First you could segment it by quality and price. At the highest end you have a relatively small niche, which I will call “enthusiasts.” I estimate this segment to be less than 15 percent of potential Cape Cod renters; they are seeking to rent a high-end premium bicycle designed for a bicycle enthusiast, not a casual rider, and are willing to pay a significant premium if necessary to do so. The rental market for this rider is particularly small because this kind of rider is most likely to bring his or her own bicycle on vacation on a rack on the back of the car.
Next you have what I will call “the big middle.” I estimate this segment to be 60 percent of the market. The most common bicycle renter is typically above average income, is not too price conscious if he or she considers the price to be more or less reasonable, and expects a good-quality bicycle but not the high-end bicycle that the enthusiast would.
Finally, you have what I call the “price shoppers.” These are usually families or at least couples looking to rent bicycles for more than one person and are willing to spend at least some effort shopping around to save a little money. I estimate this segment to be roughly 25 percent of the market.
By Rental Time
I estimate the following average rental durations on Cape Cod:
- Less than one day, usually on an hourly basis: 20 percent of rentals.
- One day exactly: 60 percent of rentals.
- More than one day: 20 percent of rentals.
By Mobile Delivery
Currently, I believe no rental firm is delivering bicycles to the customers’ location. I believe there is absolutely a demand for this because people who don’t bring their bicycle on vacation also do not bring their bicycle rack and cannot easily transport bicycles in their car, and people generally don’t even consider renting a bicycle rack.
Related: Complete Business Plan Outline
Target Market and Customers
Our target market is people who want to have bicycles delivered to their motel, campsite, or summer residence.
Because there will be some expense in making this delivery, we will primarily focus on customers interested in renting bicycles for more than one day. Even though in my analysis of the market I estimated that only about 20 percent of rentals are for more than one day, the revenue from such rentals is significantly higher. In fact, with the price for two days usually being exactly double one day, and a week being substantially higher than two days, for example, the market for rentals of more than one day may be over 40 percent of the market in dollar terms.
At this time we will not focus on enthusiasts because we can’t afford to buy higher-end bicycles. We will, however, try to capture some of the price-shopping market, especially because people who rent bicycles for longer periods of time may tend to be more price conscious.
Customer Characteristics
With our customers looking to have bicycle rentals delivered to them, and generally renting for periods longer than a day, these people will be quite a bit different than the person who might rent a bicycle for an hour from a roadside stand.
People renting bicycles for an hour from a roadside stand are generally young—often in their twenties—and frequently single but usually in the company of one or more friends.
People renting bicycles delivered to their motel, campsite, or summer residence and renting for multiple days tend to be a couple, if not a family group.
Customer Needs
Targeting customers wanting mobile rentals for multiple days means that we will need a wide mix of bicycles to serve full family needs. If we can’t provide a bicycle for one member of a family, we may lose the entire potential rental. So we need bicycles of all sizes and we need plenty of baby seats!
The mobile rental customer is not as much of an impulse customer as someone renting from a roadside stand is. So having the shiniest and newest bicycles is not really going to help us get rentals. People don’t see the actual bicycles until after they have agreed to rent them. But the bicycles need to work and work well. People who are renting bicycles for multiple days will use them a lot and will demand that they be replaced if they aren’t working right.
COMPETITIVE ANALYSIS
Industry Overview
The bicycle rental industry on is dominated by U Pedal It, Inc. Although they have a storefront near the harbor in Hyannis, most of their rentals are from dozens of agent-operated locations all over Cape Cod.
Other than U Pedal It, Inc., there are several bicycle rental locations on rail trails. And there are a handful of bicycle retail shops on Cape Cod that also rent bicycles.
Nature of Competition
The nature of competition is focused on location and displaying bicycles, to apparently appeal to impulse renters—those who did not necessarily plan on renting a bicycle as part of their vacation, but take a look at the shiny outdoor bicycles lined up at rental locations and say, “Wouldn’t that be fun!”
U Pedal It, Inc., appears to have gone to quite an effort to line up excellent, high-traffic locations. In addition, the several rental firms that are located on bicycle trails are basically betting their business on their proximity to a great bike riding location.
There does not appear to be much price competition. Everyone offers about the same price for a standard bicycle. I don’t see price mentioned on signage at rental locations or in advertising.
Changes in the Industry
As the market for bicycles rentals on Cape Cod has grown, so has the competition. The popularity of the rail trails has led to more rental locations near the rail trails. And the increased emergence of bicycle enthusiasts looking for high-end rentals has further splintered the market and created a rental niche for high-end bike dealers.
Primary Competitors
Our primary competitor is U Pedal It, Inc. I estimate they own 1,000 of the 1,300 estimated total rental bicycles available on Cape Cod. They have at least double if not triple the combined locations of the rest of the industry put together.
Their strategy is to dominate Cape Cod by making agreements with agents, such as gas stations, motels, etc., to rent their bicycles in exchange for a percentage of the revenue. They have very carefully selected their rental agents and will negotiate the percentage of revenue, particularly if the location is highly successful.
They rent high-quality Raleigh bicycles. They completely renew their fleet every two years or so.
They are also the leading advertiser for bicycle rentals on Cape Cod.
Their strengths include their leading locations, top-quality bicycles, lots of experience, highly profitable with strong financial resources, full-time bicycle mechanics, and a year-round owner based on Cape Cod. They also have only one type of bicycle, the very recognizable Raleigh brand, which looks great and holds up well during rentals, and because they use a single brand, their bicycles are easier to maintain.
A possible weakness is that U Pedal It, Inc., is successful and so dominant that they will likely not feel the need to respond to a small new competitor, either by trying to match new services or to match lower prices.
Competitive Products/Service
Our primary competitor, U Pedal It, Inc., is renting relatively new zero- to two-year-old, high-quality, brand-name Raleigh bicycles.
While U Pedal It, Inc., does a fair amount of advertising, its most important promotional strategy is the shiny displays of new rental bicycles in front of the busy commercial properties of its many rental agents. These displays appeal not only to impulse renters but also to more contemplative renters, who are constantly reminded about the availability of the U Pedal It, Inc., rental locations.
Opportunities
The clearest need I see in the market is for the delivery of bicycle rentals directly to motels, campsites, and summer residences. Although costs will not make this practical for very short (i.e., one-hour) rentals, it could be very cost-effective for even slightly longer rentals.
Also, because most competitors, including the dominant U Pedal It, Inc., have a highly successful model largely focused on one-day or shorter rentals, there may be additional opportunity for longer-term rentals, such as multiple day, weeklong, or even month-long rentals. Because such longer-term rentals can become rather expensive, potential renters are more likely to shop around for a competitive price. And U Pedal It, Inc., having a highly successful business model, would probably not feel a need to respond to a tiny, new competitor competing for just a small portion of the overall market.
Threats and Risks
The biggest threat would be if a highly established player, especially the dominant U Pedal It, Inc., decided to respond directly to Bob’s Rent-A-Bike and match our delivery offer or our pricing. However, as I have outlined previously, I think this is highly unlikely because their model is highly successful and we are just gearing up for a sliver of the market.
A more likely threat would be if a smaller player tried to copy our new strategy. This is possible, but I think it is unlikely, especially during the first season. Also, for an existing player with an existing location, it is a lot more work to deliver rental bicycles. Not everyone wants to work as hard as Bob Adams.
Key Competitive Capabilities
Being the “new kid on the block,” I can enter the industry with a whole fresh approach and a whole new business model, serving the unmet needs of some customers and better serving the needs of others.
Unlike my competitors, I don’t have an established way of doing business. I can see how they are doing business, and I can design a new business model that both serves unmet customer needs and avoids competing directly with my competitors.
I don’t have a lot of money and I don’t plan on raising very much. But I’m resourceful. I know how to get a great value buying used bicycles. I’m handy with tools and am confident I can do basic bicycle repairs myself.
My mother is going to allow me to use the family station wagon for this business, as long as I pay for gas and can work around her schedule. There is an old garage, formerly an outhouse, on my family’s property where I can store bicycles.
So even though I’m probably the smallest competitor, my cost structure has got to be the lowest.
I’m willing to work as many hours as it takes this summer, day or night, weekday or weekend, to make this business succeed!
Key Competitive Weaknesses
My competitors’ advantages include more experience, more financial resources, better and newer bicycles, experience in advertising, excellent locations, and year-round availability on Cape Cod.
Competitive Strategy
My strategy is to deliver rental bicycles to my customers’ doorsteps, to their motel, campsite, or summer residence.
I am going to target customers who are interested in renting bicycles for two days or longer.
I believe much of the longer-term, deliverable bicycle rental market will be families, so I will make an effort to build a rental fleet with bicycles for all ages and also have plenty of baby seats.
I am going to be flexible in pricing for longer periods of time, such as a week or a month, when the rental fee might come close to being as high as my entire purchase price for my average used bicycle.
Because I am not renting bicycles on impulse from highly visible bicycle stands and customers will not see my bicycles until after they have requested a rental delivery, and because I have very limited resources, I will build a rental fleet of used bicycles instead of new ones. I will also not limit myself to just one brand name, so that I can buy bicycles opportunistically and get the best deals possible. Given that large quantities of my bikes will not be displayed to the public at once, it won’t matter that they don’t match and that I have all kinds of different brands and colors.
Finally, especially because I have limited finances, I am going to keep my operating costs rock bottom by using my mother’s station wagon and by using the family’s old garage for bicycle storage. I am going to design my own advertising.
Bumper Sticker Strategy
My bumper sticker strategy is “mobile bike rentals.”
PRODUCTS/SERVICES
Product/Service Description
Our service is renting bicycles. We will rent by the day, by the week, or by the month. We will not rent for less than a full day, unlike most competitors, who rent by the hour as well.
We will rent two types of bikes only, adult bikes and children’s bikes. Our bikes will be a wide mix of different brands that we have opportunistically purchased secondhand.
All adult bikes will be ten speed or more. All adult bikes will have conventional, non-racing handlebars.
Children’s bikes will be one speed. Some will have high-rise handlebars.
All bicycles will have full and working safety equipment as required by law, including reflectors and an operable bell or horn. Brakes will be checked prior to each rental. All bikes will also be equipped with a basket.
In addition, baby seats will be provided by advance request for no additional charge. These seats can be relatively easily installed and removed in order to keep the rental fleet flexible.
Positioning of Products/Services
We will position ourselves as the only alternative for people on Cape Cod looking to have bicycles delivered directly to them, be it their motel, campsite, or summer residence.
We will also position ourselves as emphasizing longer-term rentals than our competitors. Unlike our competitors, we will not rent bicycles for less than one day. We will offer lower rates on extended rentals such as for a week or longer.
We will also position ourselves as family friendly, with a good variety of bicycles for not just adults, but kids of all ages. We will rent kids’ bikes for half the price of adult bikes. We will have a good supply of baby seats that we will provide for no additional charge.
Competitive Evaluation of Products/Services
The most important competitive metric for us is the availability of delivery to the customers’ location. This is how we will stack up:
Delivery available?
U Pedal It, Inc.: No
Bike trail–located rental competitors: No
Bicycle shop rental competitors: No
Bob’s Rent-A-Bike: Yes
Another important competitive metric for us is the competitive pricing of longer-term rentals:
Daily rental rates (comparable adult bicycles)
U Pedal It, Inc.: $25
Bike trail–located rental competitors: $25
Bicycle shop rental competitors: $25
Bob’s Rent-A-Bike: $25
Weekly rental rates
U Pedal It, Inc.: $90
Bike trail–located rental competitors: $85
Bicycle shop rental competitors: $90
Bob’s Rent-A-Bike: $77
This is how the quality of our bikes compares:
Bike quality
U Pedal It, Inc.: New, high quality, one brand (Raleigh)
Bike trail–located rental competitors: Relatively new, good quality, one or two brands
Bicycle shop rental competitors: New, high quality, mixed brands
Bob’s Rent-A-Bike: Good working quality, but slightly used
Future Products/Services
Looking out to future summers, we aim first to grow our customer base for our current product offerings. At some point in future summers, we may begin to buy new, high-quality bicycles and to standardize our fleet. We may also test demand for higher-end bicycles for the enthusiast.
SALES AND MARKETING
Marketing Strategy
The main marketing message we want to send is that, unlike our competitors, we deliver rental bikes right to the customer’s location.
There are other ways that differentiate us from our competition, such as lower rates for longer-term rentals and a little more effort to be family friendly. But what makes us stand out much more clearly from our competitors is our delivery of bicycles, so that’s what we are going to overwhelmingly emphasize in our marketing.
We don’t have time or money to invest in building an image. Our marketing is designed to “ring the register” with bicycle rentals today, not for building an image for tomorrow.
Being an all-new business and having only a 10-week summer season, we are going to immediately try and test a whole bunch of marketing alternatives. We just don’t have the time to test one after the next sequentially. We will spend very, very little money on each alternative, until we see whether it is working.
While we are willing to deliver bicycles anywhere on Cape Cod, we will give an extra emphasis to marketing to motels and campsites within a half hour drive of our bicycle storage facility. Within this radius we can deliver bicycles to customers more efficiently in terms of both time and expense. At motels and campsites I believe we will find a concentrated audience with a higher propensity to rent bicycles than the general summer population.
Unique Selling Proposition
Our unique selling proposition is: “Bike rentals, delivered free!”
The fine print indicates a minimum of two bikes being rented for two days each to qualify for free delivery. This means that we are grossing at least $100 on each free delivery, or $25 per bicycle per day.
We are the only bicycle service on Cape Cod offering delivery of bicycles. Offering delivery for free makes it that much more compelling.
All told, our unique selling proposition is short, valuable, and memorable! Great for use in marketing campaigns!
Sales Tactics
We will develop sales tactics to try to convert inbound inquiries into bicycle rental customers.
Inbound Telemarketing
Some of our inbound inquiries will be phone calls. We will use a six-part approach to closing phone inquiries.
- We will try to answer the phone immediately night or day. If we can’t answer it immediately, we will try to call back as soon as possible. Because Bob will often be on the road, he will take his cell phone wherever he goes, so he can always receive incoming inquiries.
- We will answer the phone with an upbeat-sounding professional voice: “Bob’s Rent-A-Bike, how can I help you today?”
- If a prospective customer is not ready to rent at the start of the conversation, we will try to provide three good reasons why they should use Bob’s Rent-A-Bike right now.
- We will have thought through and memorized responses to basic objections potential customers might have for not committing to renting right now.
- We will try to close the sale with phrases such as, “I’d like to reserve bikes and delivery time for you, so we can be sure to get you in our schedule with some great bikes.”
- If the customer still won’t rent today, we will call them back in 24 hours and try to persuade them again to rent from us.
Inbound Email Inquiries
- We will respond by email, customized from one of our basic prewritten compelling responses of why you should rent from Bob’s Rent-A-Bike.
- We will also link our response to our website.
- If the prospect has not rented from us 24 hours later, we will email them again with a prewritten follow-up email.
Website Inquiries
- Our website is designed to give prospective customers all of the information they need to get comfortable making a decision to rent from us.
- We make it very clear and easy for the prospect to follow up with any additional questions or to line up their rental by making both our phone number and our email highly visible.
Advertising
Selecting an advertising medium is trickier for us than for many new businesses for a several reasons. First, most of our competitors primarily attract customers on the basis of their highly visible commercial locations, including large displays of rental bicycles and signage. Our bicycles are stored in a garage in a residential-zoned district, so we really need to make our advertising work.
Second, we only have a 10-week summer season. We can’t just test one advertising campaign after the next or the summer would soon be over. We need to test several at once.
Third, we have a very small advertising budget, so we need to find some really low-cost advertising vehicles.
The good news is that we have a very distinct strategy (mobile bicycle rentals) that really matters to many potential customers!
The even better news is that we have been able to translate our powerful strategy into a compelling unique selling proposition: “Bike rentals, delivered free.”
So between our strong strategy and our memorable USP, we have a really good chance of getting a decent response, even from low-budget advertising.
Our website is a core component of our advertising. We will prominently display the website address or have a link to it in all of our advertising. We will design the website primarily to “sell” a prospective customer on the idea of renting bicycles from us. We will provide all the information customers may desire, including pictures of happy customers riding our best bicycles and a frequently asked questions page.
We will also provide rates. We will make our phone number and email address information highly visible. The website will be just a few pages long, but it will be attractively designed and simple to navigate. We will also design the website to optimize search engine results placement.
Guerilla Advertising
We will go out to every campsite and motel and coffee shop within a 30-minute drive of our house and plaster every bulletin board with an advertising flyer. We will leave small handout flyers at motels. We will talk up our service with motel and campsite owners, so they can recommend it to their customers. Bob will ride his bicycle to visit them, to increase impact and recall.
Tourist Guide Advertising
We will test a very small ad in one of the small tourist booklets distributed all over Cape Cod. The advertising is one of the more expensive things we will do, but we will keep the first ad very, very small until we see that it is working.
Local Newspaper Advertising
We will test a small ad in the local weekly newspaper. We will aim this more for longer-term renters.
Search Engine Advertising
We will run several very short tests for keyword advertising. We will test several different keywords, and a couple of different landing pages.
Promotions/Incentives
Our unique selling proposition, “Bicycle rentals, delivered free,” is our everyday promotional offer.
Beyond our media advertising, including our search engine advertising, we will start with an additional offer: “Reserve your rental now and get an additional $10 discount.”
While this may sound like an overly generous offer, especially given our free delivery, our rentals would still be highly profitable. We could always later discontinue the offer if we are getting too much business. On the other hand, if a particular advertising media is not responding in our first test with this extra $10 discount, then we can feel more confident in immediately dropping it.
Additionally, if rentals are running below plan, we may discount prices further during the process of phone inquiries, especially for longer-term rentals.
Our primary publicity vehicle will be social media. We will aggressively promote our visibility on social media; encourage friends, customers, potential customers, and key local businesspeople to follow us; and update our information regularly.
We will also send a start-of-season press release to all major websites and print vehicles everywhere on Cape Cod.
Bob will offer to do talk show interviews on local Cape Cod radio and cable TV stations on the joys of bicycling on Cape Cod, liberally referencing Bob’s Rent-A-Bike.
Instead of passing out a traditional business card that largely features his name, Bob will pass out to every single person he sees all summer long a Bob’s Rent-A-Bike business card–shaped advertising piece that offers a special “Friends and family $10 discount on your next bicycle rental.”
Trade Shows
Bob will attend the local chamber of commerce trade show held at the beginning of the season. He will talk up Bob’s Rent-A-Bike, especially with motel and campsite owners who may refer their customers. He will also give them promotional flyers.
Key Personnel
The key person is founder Bob Adams. Bob is nineteen years old and is completing his freshman year at Carleton College. He is a graduate of Phillips Exeter Academy. Bob’s previous summer jobs include working as a rodman for Savery Engineering, as a dishwasher for Howard Johnson restaurants, and as a busboy for Stage Coach Grill. Bob has ridden bicycles for years, is handy with tools, and is ready to work 24/7 to make Bob’s Rent-A-Bike a success.
Organizational Structure
Other than Bob, the only other person that will work for Bob’s Rent-A-Bike will be Bob’s twelve-year-old brother, Jim, who will just work a few hours as needed. Jim will answer the phone if Bob is not available and help clean and maintain the bicycles. Jim is willing to work for a very, very modest wage.
Human Resources Plan
To provide extra motivation for his younger brother Jim and to offset the very, very modest wage he will receive, Bob will let Jim use a different Bob’s Rent-A-Bike bicycle of his choice each week, provided it is not needed for rental purposes.
Service Delivery
Bob will deliver rental bicycles to customers using his mother’s station wagon. Bob has agreed to reimburse her for gas and try not to beat up the car too much. He also has a large bicycle rack to mount behind the car, and has been practicing carrying bicycles on the roof as well. Bob feels he can carry as many as 12 adult bicycles in one trip.
Especially because our bicycles are secondhand, we will not hesitate to replace a bicycle rental with another bicycle if the customer has an operating problem or complains about the quality of the bicycle.
We aim to have a rental fleet of 50 bicycles.
Customer Service/Support
We view our business as a high-touch personal service business and will endeavor to make every single interaction with our customers from initial inquiry to final bicycle pickup a positive one.
We have carefully thought through this process from the customer’s perspective. Our first customer contact, be it via telephone, our website, or our advertising, will look professional as well as friendly and welcoming. We will continue interacting with our customers in a “high touch” warm and friendly way throughout the entire process.
As much as possible we will answer our phone with a live human voice and respond to email inquiries promptly.
Because we expect our customers to have a very positive experience with us, we will also ask our customers for referrals and ask them to follow us on social media.
In keeping with our low overhead, we will operate out of an old garage on our family property that was converted from an outhouse. It is a small, single-car garage and not all bicycles will fit parked in the garage at once. However, we intend to purchase bicycle hooks that we can screw into the old beams in the ceiling of the garage and hang bicycles from, saving huge amounts of space and allowing us to get all 50 bikes into the garage.
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Earlier this week I stumbled on an example of absolutely terrible advice from the U.S. Small Business Administration. This advice made me angry and sad at the same time. Angry at the SBA and sad for anyone who follows the advice. I was googling some common phrases about building a business as research for an upcoming podcast ...
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Motorcycle Shop Business Plan
Start your own motorcycle shop business plan
Recycled Riding Dreams
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
Recycled Riding Dreams will offer quality used motorcycles and motorcycle parts to a growing market of motorcycling hobbyists. For the beginner, Recycled Riding Dreams offers excellent value in a first bike that will not bust the customer’s budget. For the experienced biker, quality used parts will cut the cost of repairs and modifications by 50% to 75%.
Over the past ten years, biking has developed an entirely new customer base among baby boomer men, ages 40 to 65. Last year, motorcycle sales for this age group was twice that of young men, ages 18 to 25. In Montclair, motorcycle sales exceeded $6 million in 2000 and sales are predicted to grow by 15% this year.
Montclair is a city of 650,000 residents with an average income of $28,000. The city has seven motorcycle organizations and sponsors an annual cycling event as part of the city’s spring celebration.
Brian Jefferson, owner of Recycled Riding Dreams is one of most respected and best known motorcyclist in Montclair. Brian is the president of the largest motorcycle organization in the city with over 800 members. Last year, Brian lead the motorcycle parade during the city’s spring celebration.
Brian’s connection with the motorcycling community and the growing demand for quality used motorcycles and motorcycle parts will make Recycled Riding Dreams one of the most popular shops in the city.
1.1 Objectives
The objectives of Recycled Riding Dreams are:
- Capture the majority of the used motorcycle business in the Montclair.
- Offer our customers a superior service, at a low price.
1.2 Mission
The mission of Recycled Riding Dreams is to become the primary resource for used motorcycle parts in Montclair.
1.3 Keys to Success
The keys to success for Recycled Riding Dreams are:
- Customer referrals.
- Exceeding the customer’s expectation for quality, timeliness and price.
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How to Start a Bike Rental Business
Bike rental businesses give customers—who are often, but not necessarily, tourists—bicycles for a short period. Bikes are generally rented for a few hours to recreationally explore the locality. But the customer base might also consist of college students on campus or others who rent for practical reasons. Your business might be a freestanding shop, part of a bike sales and service operation or associated with a hotel or other hospitality business.
Ready to form your LLC? Check out the Top LLC Formation Services .
Learn how to start your own Bike Rental Business and whether it is the right fit for you.
Start a bike rental business by following these 10 steps:
- Plan your Bike Rental Business
- Form your Bike Rental Business into a Legal Entity
- Register your Bike Rental Business for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your Bike Rental Business
- Get the Necessary Permits & Licenses for your Bike Rental Business
- Get Bike Rental Business Insurance
- Define your Bike Rental Business Brand
- Create your Bike Rental Business Website
- Set up your Business Phone System
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your bike rental business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas .
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
How much can you charge customers?
What will you name your business.
Luckily we have done a lot of this research for you.
What are the costs involved in opening a bike rental business?
At the high end, this bike rental manager mentions $175,000 in startup costs for the company with which he’s involved. (It’s also an interesting web article regarding the day-to-day challenges of such an operation.)
Fortunately, this kind of business can be started with a much more modest investment. Let’s imagine a shop with 20 bikes.
- Fleet costs and related gear – If the 20 bike were purchased for $250 each, your startup fleet costs $5,000. This is at the low end of new bike costs, and keep in mind that quality and durability are important because they’re liable to take a beating. You can get one idea of costs by visiting this fleet-sales website . You might also spend another $1,000-$2,000 or more on such related gear as helmets and bike locks.
- Repairs – This is highly variable, but you could spend $5,000 a year or more on tools, parts and replacement bikes. On a related note, make sure you establish a relationship with a bike product distributor so you always have access to replacement parts and quick delivery. None of your bikes should be sidelined for more than two days.
- Staff – This cost can range from your own income expectations if you have no employees to several staffers at a popular venue or more than one. Make sure you at least have one bike mechanic unless you can do the job yourself. Figure at least $18 in pay and withholdings for each hour you’ll need covered.
- Related merchandise – What else can you upsell your customers?
- Rent – This can range from nothing if you’re given space at a hotel for the accommodation of their guests, to prevailing commercial rents. Make sure to rent the smallest amount of space you’ll need for bike storage, display of related merchandise (if any) and customer transactions.
- Liability insurance – Check rates in your area. Although you’ll make your customers sign waivers releasing you from responsibility for accidents, that’s not likely to be effective protection if the condition of the bike is the cause of accident.
- Professional services – You should consult a lawyer, at least for drawing up your customer waiver, and accountant for startup costs. In addition, you might want to consult a graphic designer and web developer for logos, signage and website creation. These costs could be at least $1,000.
What are the ongoing expenses for a bike rental business?
Fleet costs will likely be your major ongoing expense. This includes the need to replace bikes and make major and minor repairs. Employee costs can add up too, so make sure that you schedule a large enough staff to meet needs, but not so many that you are over-staffed.
Who is the target market?
Your customers are likely to be vacationers who appreciate an active lifestyle. They’re likely unfamiliar with the region, eager to be involved with your establishment and very receptive to your advice on sights to see or avoid. You should also be receptive to their after-ride reviews, as these often offer helpful feedback, including what attractions you may want to add to your list of recommended sites.
How does a bike rental business make money?
You’ll rent bikes on an hourly or flat fee basis, or a combination of both. Some bike rental establishments also sell merchandise related to biking or area tourism (mugs, water bottles, t-shirts, etc.) You might also consider selling your fleet bikes when they’ve been replaced by newer models.
Rental rates will vary depending on location and seasonality, but can typically start at $8 or $9 an hour. Since it’s in your economic interest for each bike to be on rental as much as possible, consider rate discounting for daypart or all-day (or even all weekend) rentals.
Consult this website to see what competitors are charging (and even to see whether it’s in your economic interest to start such a business in a given location).
How much profit can a bike rental business make?
Your profitability is related to many factors, from the length of your season (if your climate is mild, your operation might run year-round, while elsewhere it might be a three-month season at most), to other services provided. In other words, if your rental operation is part of a bicycle sales and service operation, you’ll likely have a longer season than if it’s a standalone rental site.
How can you make your business more profitable?
If your area is particularly interesting to sightseers, consider offering guided bike tours for a flat fee.
You might also provide bike sales and repair services from your same shop. After all, if you have the skills or personnel to service your own repairs, it would be very little additional effort to provide the same services for bike owners.
Also, take advantage of the fact that your customers have an interest in the area surrounding your business. Consider displaying in your shop souvenirs that celebrate your neighborhood or region, such as postcards, t-shirts, mugs, bumper stickers, keychains and related paraphernalia.
And finally, you might be able to make additional use of your fleet, such as for restaurant takeout deliveries.
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Bike Rental Business Name Generator
If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
When registering a business name , we recommend researching your business name by checking:
- Your state's business records
- Federal and state trademark records
- Social media platforms
- Web domain availability .
It's very important to secure your domain name before someone else does.
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Powered by godaddy.com, step 2: form a legal entity.
The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your bike rental business is sued.
Form Your LLC
Read our Guide to Form Your Own LLC
Have a Professional Service Form your LLC for You
Two such reliable services:
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
Learn how to get an EIN in our What is an EIN guide or find your existing EIN using our EIN lookup guide.
Small Business Taxes
Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).
You can learn more about small business taxes in these guides:
- Sole Proprietorship vs LLC
- LLC vs Corporation
- LLC vs S Corp
- How to Start an S Corp
- S Corp vs C Corp
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .
Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Open a business bank account
Besides being a requirement when applying for business loans, opening a business bank account:
- Separates your personal assets from your company's assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.
Open net 30 accounts
Net 30 accounts are used to establish and build business credit as well as increase business cash flow. With a net 30 account, businesses buy goods and repay the full balance within a 30-day term.
NetMany net 30 credit vendors report to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
Recommended : Read our best net 30 vendors , guide and start building business credit.
Get a business credit card
Getting a business credit card helps you:
- Separate personal and business expenses by putting your business' expenses all in one place.
- Build your company's credit history, which can be useful to raise money later on.
Recommended: Apply for an easy approval business credit card from Divvy and build your business credit quickly.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Make LLC accounting easy with our LLC Expenses Cheat Sheet.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements
Certain state permits and licenses may be needed to operate a bike rental shop. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .
In addition, certain local licensing or regulatory requirements may apply. For more information about local licenses and permits:
- Check with your town, city or county clerk’s office
- Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources.
Liability Waiver
It is advisable to provide customers with informed consent agreements to decrease legal liability and encourage transparency. More information on informed consent agreements can be found here.
Certificate of Occupancy
A bike rental shop is run out of a storefront. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO) . A CO confirms that all building codes, zoning laws and government regulations have been met.
If you plan to lease a location:
- It is generally the landlord’s responsibility to obtain a CO.
- Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a bike rental shop.
- After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
If you plan to purchase or build a location:
- You will be responsible for obtaining a valid CO from a local government authority.
- Review all building codes and zoning requirements for your business’ location to ensure your bike rental shop will be in compliance and able to obtain a CO.
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.
Learn more about General Liability Insurance .
Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
Recommended: Learn what business insurance for your Bike Rental Business will cost.
Business Insurance for Bike Rental Business
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.
Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .
If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.
How to promote & market a bike rental business
You should have a website and presence on social media since many of your customers will be young and Internet-savvy, and vacationers usually go online to explore things to do at a destination. Regularly update your Twitter, Facebook and Instagram accounts and consider authoring a blog updated regularly with information about area attractions, restaurants and historical insight.
And finally, run off flyers and post them at area hotels, restaurants, coffee houses and other places where your prospective customers congregate.
How to keep customers coming back
Review sites such as Yelp and TripAdvisor will be your best friends—or worst enemies. You and your team must provide exceptional customer service, which goes well beyond merely taking their money and providing bikes. Suggest destinations and serve as an engaging host to garner great reviews.
Your staff, perhaps minimum wage part-time employees at seasonal jobs, might not have the same attitude as you about customer relations, so stay involved. Hire personable people, provide training and oversee their customer contact. In short, make sure that you and your people provide a memorable customer experience.
Still unsure about what kind of business you want to start? Check out the latest Small Business Trends to help inspire you.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business .
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Here are the main reasons why you shouldn’t delay building your website:
- All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
- Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
- Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.
Using our website building guides , the process will be simple and painless and shouldn’t take you any longer than 2-3 hours to complete.
Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .
Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.
Recommended Business Phone Service: Phone.com
Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.
Start a Bike Rental Business in your State
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Is this Business Right For You?
Bike rental business owners should be mechanically adept, since customers can be hard on bikes. Also, since bikes are often rented to explore the immediate area, you should be highly familiar with your home base and able to suggest tourist attractions. You should have an engaging personality and be motivated to deliver exceptional customer service.
You must also be based in an environment where your customers will want to rent bikes. This usually means a tourist venue and an inviting landscape for bikers—not too hilly or congested. The terrain should be bike-friendly, with wide streets or bike lanes, or bike paths, for the safety and enjoyment of your customers.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
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What happens during a typical day at a bike rental business?
Most of your days’ activities will involve customer contact. You’ll rent them bikes and close transactions upon bike returns. Here’s how your typical day might break down:
- Rent bikes for customers or groups, after first making sure the vehicles are in good operating condition. Make customers sign liability waivers and get cash deposits and credit card information to ensure bike returns. Answer questions about location and destination attractions, and try to upsell water bottles, maps, t-shirts, power bars or other displayed merchandise.
- Prep bikes mechanically, making minor repairs for rental availability.
- Schedule staff, which might include at least one bike mechanic.
- Inspect bikes upon return and determine whether customers should be billed for damages.
- Regularly update your social media, with destination photos and news.
What are some skills and experiences that will help you build a successful bike rental business?
Bikes are relatively expensive and your customers can be hard on them, so mechanical skills and/or the ability to hire at least one full-time mechanic are important. An out-of-service bike isn’t earning money and can lead to customer loss if you don’t have enough functional rides available.
You should also be able to promote your business creatively (and inexpensively), and have keen instincts for developing good customer relationships (since their online reviews can make or break your business).
What is the growth potential for a bike rental business?
The bare essentials of a bike rental business are a station to store and repair bikes and conduct business, a small fleet of bikes, and seasonal employees at or near minimum wage. You could hire one mechanic to service bikes at multiple locations, or assume the responsibility yourself if you’re so inclined. Therefore, expansion is relatively easy once you’ve figured out how to successfully run one location.
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Take the Next Step
Find a business mentor.
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Learn from other business owners
Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.
Resources to Help Women in Business
There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:
If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
What are some insider tips for jump starting a bike rental business?
Develop mutually beneficial relationships with hotels or other hospitality facilities. Your business is a valuable source to such organizations since they’re in the business of offering entertainment options to their guests. Your relationship with a nearby hotel can range from handing out your flyers to guests to providing a rent-free station for you to base your business.
How and when to build a team
Your most valuable employee will be your bike mechanic. Other than that, your staff will likely consist of part-time seasonal employees who can be hired at or near minimum wage as needed.
Get more ideas with our Business Ideas Generator .
Check out our How to Start a Business page.
Sign up at the Business Center to access useful tools for your business.
Useful Links
Industry opportunities.
- Franchise opportunity with Wheel Fun Rentals
Real World Examples
- Performance Bicycle, an Ann Arbor-based bike rental shop
Further Reading
- Business profile with Ryan Ross, owner of a bike rental shop, detailing the process of opening the business and hardships faced along the way
- Starting a Bicycle Rental Business
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RENT MOTORCYCLES
Get your wheels rolling with rentle motorcycle rental software.
Accept online bookings and manage your entire motorcycle rental business in one place. Rentle Motorcycle Rental Software has all the tools for smoother order management, asset tracking, and more. Get started in just a few clicks.
The essentials for motorcycle rentals
Sales channels.
Rent motorcycles online, in person, and basically wherever your customers are. With Rentle, you can build a beautiful online booking website and efficiently serve walk-in, call-in, and mail-in customers in one platform. Everything is always seamlessly connected, so you will never get overbooked.
Product catalog
Add motorcycles for rent and upsell additional services like driving training and maintenance services to complement your offering. With Rentle, motorcycle rental businesses can flexibly customize their product catalog to match what customers want.
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Streamline daily work and save time in the back office by automating order and inventory management. Rentle gives you complete control over your business and keeps you and your team always up for the next task.
Accept online payments effortlessly with Rentle's integrated payment gateways. You can accept card payments, Google Pay, Apple Pay, and other local payment methods depending on your country.
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Information Technology and Services, GM
It is a pleasant experience. I was integrating it into my website and had a very good customer support experience. The lite (free) version has a lot ...
Wholesale & Retail, CEO
Rentle helps motonet expand to equipment rentals.
If we purely look at the profit margin of a rental product, within one month, it’s already higher than the margin of one sold unit. If the product ...
Retail, Head of E-commerce & Marketing
Scandinavian outdoor starts its outdoor rental operations with rentle.
Although renting outdoor equipment has been around for a long time, the process has always been complicated. What's been lacking in the industry is ...
Sporting Goods - Business owner
Great system very user friendly.
Very positive. Great support from your staff. Easy to update information. Great service.
Sporting Goods, Store Manager
Great rental software.
Compared to reservations that we got before (via email and phone), we've experienced huge growth in reservations after starting to use Rentle. It is ...
Verified Reviewer
Easy rentals with easy rentle.
Product suggestions: cross-selling our different products and services is the best in class. Ease to use. You don't need days of training to teach ...
Non-Profit Organization Management, General Manager
Bike bute community e-bike scheme.
It has been very positive, the 'live' chat help has been great. The online booking platform has really improved the efficiency of bookings for both ...
Christian R.
Machinery, it dev, new user - seems very nice so far.
It seems very well-built and has a lot of features. Feels integrated and modern. I'm only missing one of my desired features. Lots of features. ...
Apparel & Fashion, Owner
A great service.
I love that I can integrate this with my shop to offer my customers the choice between renting and buying. The setup process is really simple and ...
Consumer Goods, Founder
Best rental software for your business.
Inexpensive, amazing customer support, and ease of use!
Consumer Services, Managing Director
Revolutionary for rental and activities business model.
Superb support and reaction time for problems. I have never experienced such a great attitude towards users from support people. Flexibility, ...
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Making sports more accessible through renting at decathlon uk.
I've been very impressed with Rentle and the overall level of patience and professionalism. The tech team has worked wonders, and despite us ...
Travel & Leisure, Resort Manager
Accelerating bike rentals in tänndalen.
The growth we experienced would not have been possible without Rentle. Rentle is just great, a nice bunch of people with awesome support and software ...
Sports, Store Manager
We figured out that the time customers spent inside the shop queuing, waiting, and fitting the equipment was significantly reduced.
Learn more about motorcycle rentals
How do i start renting motorcycles online.
The first step you can take to start renting motorcycles online is to create an online booking website. This can be done easily using motorcycle rental software like Rentle. The website should include information on the different types of motorcycles available for rent, as well as the rates, contact details, and terms of the rental agreement. You should also set up a payment processing system that allows customers to pay for their rentals online. With Rentle's integrated payment gateways you start accepting payments in no time.
How do I start a motorcycle rental business?
The first step is to research the motorcycle rental market and learn about the industry. This includes learning about the potential customers, the competition, the legal requirements, and the necessary equipment and personnel. The second step is to develop a business plan. This document will outline your business goals, strategies, and financial projections. The third step is to get started! Once you have your business plan in place, you can begin setting up your business and marketing it to potential customers.
Is a motorcycle rental business profitable?
There is no definitive answer to this question because it depends on a number of factors, such as the location of the business, the size of the market, and the prices charged. However, generally speaking, motorcycle rental businesses can be profitable if they are well run and offer good customer service. Your earnings will mainly consist of rental income from motorcycles and accessories. You can earn extra income by selling additional services, such as driving training or motorcycle maintenance. Rental fleet, business space, insurance, and staff salaries are typically the most significant expenses.
Do I need motorcycle rental software?
It is strongly recommended that you start using cloud-based motorcycle rental software from the beginning of your business. Rental management software allows you to manage inventory, process orders, and run your rental business in one system instead of spreading all the information across several apps and spreadsheets. This gives you a better overview of your business and complete control of the rental operation.
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Home » Business ideas » Automotive Industry
How to Start a Scooter Rental Business in 19 Steps
Do you want to start a scooter rental business? If YES, here’s a complete guide to starting a scooter rental business with NO money and no experience . Scooters may not be regarded as the same as motorcycles because scooters are more fun and easy to ride on, and it has now become a very popular means of transport and recreation. The scooter rental business which is part of the recreation as well as specialty travel market is one that is growing at a faster rate than the travel industry.
Even though starting this business is advised for entrepreneurs who are already selling motorcycles and scooters, it doesn’t mean you cannot start the business afresh as you can partner with someone that sells motorcycles and scooters in order to give your business the boost it needs. In starting your scooter rental business, you should understand that you are different from someone who sells scooters for a living, even though you might want to engage in this later.
As one who intends to rent out scooters, it is expected that users will return the scooters within a definite period of time after signing an agreement to that effect. Those who usually rent scooters a lot are tourists who are looking for cheap and yet fun ways they can use to visit several places without having to use a vehicle.
As with any other business that you might be looking to start, it is essential that you have the needed passion and dedication to enable you achieve your goals and objectives. It is also essential that apart from being dedicated to also have a plan as well because this will allow you achieve your intended milestones more easily.
It is essential that you check what you will need to start the business within your locality so that you do not end up running into trouble with the authorities. Ask those who already run the business in your area what your typical checklist should be.
Even though you are going to be basically renting out scooters to your intended customers, it is also important that you have quality helmets that will go with the scooter rental because the helmets help keep your customers safe and secure.
The safety of your customers should be your highest priority and so when buying helmets, try not to buy one size but different sizes that will accommodate all your various customers, no matter the size of their heads.
Aside the equipment that you will need to purchase your scooter rental business, it is also important that you have a sufficient number of scooters available especially during the peak of the season so that you will not disappoint potential customers.
You need to determine if you will need security deposits or not, and lay out your methods of payment as well as what should be done by you and your customers in the event where rental fees are cancelled.
19 Steps to Starting a Scooter Rental Business in the United States of America
1. understand the industry.
The Millennial generation has changed the way money is being spent in America as there is more prioritization towards gaining new experiences rather than acquiring material items, as is evidenced in the way that money is being saved in order to go to new places or take part in new activities.
The changing pattern in which Americans are spending their money has had a positive impact on the recreational rental industry which has not only seen the industry growing tremendously, but it has also outpaced other retail and service industries as more people are keen on taking vacations as well as paying for equipment renting in order to enable them experience recreational activities.
The recreational rental industry generated more than $1 billion in 2014 and it has been predicted that the industry will continually see revenue increase at the rate of 5.7 percent every year for the periods between 2014 and 2017. The growth has slightly outpaced the 3.3 percent which was predicted for the retail services industry, therefore putting recreational rentals in top 40 percent of all the retail industries.
The increased popularity of renting as well as continued interest in gaining experiences during recreations would help the industry’s revenue to stay robust in the near future. According to a research report by Kentley, recreational rental firms generated an average of $500,000 in 2013, with most firms experiencing an annual revenue growth rate of nearly 3 percent between the periods of 2010 and 2013.
However, even though it seems as if operators in the industry are having good financial reports, about 51 percent have terrible margins and this is due to the fact that operating expenses keep growing every year and eventually outpacing revenue. In 2015, operating costs per recreational rental firm was at an average of $387,000 per annum.
One reason why only few firms are profitable is because most of the firms are focused on growth as they are using the revenue generated to provide new services or expand their businesses.
In 2014, the number of recreational rental firms grew by 2.8 percent and forecasts for the next five years (2014 to 2019) has it that the growth average for firms in the industry will remain under 3 percent, even though the number of rental establishments will grow by at least 3 percent and will continue to grow by 2.3 percent every year for the next five years (2014 to 2019).
It is expected that the scooter market and electric motorcycles will generate more than $55 billion by 2024 according to Global market insights, Inc. It is expected that the market size will continue to increase due to the fact that scooters have environmental benefits over others that are powered with gasoline.
Also, they are vibration-free which means there are fewer parts moving. Another factor is the fact that it does not require much in areas of maintenance and it is more reliable which is why it is increasingly popular amongst consumers.
Electric scooters can be used for both commercial and personal use and the fact that it is convenient and allows for easy mobility is why the urban population usually prefers them over transport modes like bicycles.
The regulatory bodies in several countries are encouraging the use of eco-friendly vehicles such as scooters by proving operators with a tax concession. The ecosystem factor is why a large number of players are not only developing efficient batteries in order to ensure high performance, but also looking to make them as eco-friendly as possible.
According to Spinlister, the local American shop has not only been in decline since the year 2001, revenues from sectors like rentals have also been decreasing as well because even though more of the Millennial generation prefer to rent as opposed to owning, several factors have been stopping the industry from being on top and this is due to the fact that rental stores are spending more in keeping their businesses afloat especially when accidents occur and the scooters will need to be repaired leading to loss of revenue.
2. Conduct Market Research and Feasibility Studies
- Demographics and Psychographics
The demography and psychographic composition of those that require the services of a scooter rental business include but are not limited to tourists. This is because tourists rent scooters in order to visit new places as well as gain experience.
The category of those that are likely to rent the scooters are the Millennial generation who are above their twenties going down to their mid-forties.
3. Decide What Niche to Concentrate On
Starting a scooter rental business doesn’t really give one the chance of offering niche services. Niche ideas are usually delved into by entrepreneurs because they are looking to expand their services while also generating more revenue for their business.
Engaging in niche services also allows the entrepreneur to stand out from other competitors. It is however important that you research on what niche ideas are available within your industry and how much revenue you are likely to generate if you go into it.
Some of the niche ideas that are available within this particular business include;
- Scooter rentals
- Scooter sales
- Scooter accessories sale
- Scooter repairs
- Wheelchair and mobility rentals
- Guided scooter tours
The Level of Competition in the Industry
Because you are going to locate your business in an area where you are likely to get a lot of customers, it is safe to assume that you will have a lot of competition not only from other scooter rental businesses but also from other rental businesses as those who mostly rent scooters are tourists and they will be looking to try as many experiences as possible that will not be limited to just scooters.
What customers are however on the lookout for when patronizing a scooter rental business is that the scooters are well maintained so as not to have any mechanical breakdowns when they are using it. Customers are also looking to rent a scooter that they can easily afford or that will allow them get back their fees without much hassles if they cancel.
The Millennial generation has opened the door for the recreational rental industry to boom and so therefore if you are looking to start your scooter rental business in the United States of America, you should expect to face a lot of competition from other scooter rental businesses especially in the area where you are looking to run the business.
4. Know the Major Competitors in the Industry
Even though most scooter rental businesses are popular in the area in which they are located, those that are more popular than their counterparts are those that are in areas where there are more tourists’ visit. There are several factors that make a business become popular and some of the major factors are; quality of service, quality of customer care and affordability.
Some of the well-known scooter rental businesses in the industry depending on their location are;
- Yatchy Rentals
- EcoReco e-scooter
- Scoot Around
- Rental Motorbike
- Beach Scooter
Economic Analysis
Scooter rental operators have increasingly started using technology to provide convenience to their customers. This has caused most of the operators to streamline their membership procedures in order to make scooters available to customers within the shortest amount of time.
The high penetration of the internet as well as increase in smartphone users have made this possible.
Globally, the market is being fueled by an increase in how many tourists now prefer to use the roads during their travel in places like America and India. This has pushed the CAGR to nearly 5 percent.
Even though the Millennial generation has popularized the recreation rental industry, revenue hasn’t increased so much for the industry as operating expenses has been threatening profit margins.
No matter how well kept a scooter is, accidents are bound to happen and this means the time spent by the mechanic in trying to repair damages will cause a loss of revenue on that scooter.
Even though the recreational rental industry has become quite popular, scooter rentals aren’t getting the largest share of the market as most tourists prefer to rent boats in order to be able to engage in water sports. In 2013 alone, more than 88 million people participated in some form of water sports.
5. Decide Whether to Buy a Franchise or Start from Scratch
One decision that you will need to make when starting your business is whether to start from scratch or buy a franchise. While each decision has its pros and cons, it is best that you go for that which will allow you achieve your intended goals and objectives quicker. Buying a franchise is not a bad idea especially as it helps the entrepreneur have a quicker start compared to those that will be starting from the scratch.
When buying a franchise, you also buy mentorship and guidance which enables you to not only learn the ropes of the business faster but you also won’t be in control of certain aspects such as marketing and others that can be overwhelming for an entrepreneur that is just starting the business.
If you are however looking to start from scratch, you can either start totally from scratch or you can buy an already existing business structure. The latter will be to your advantage because you do not have to worry about getting certain equipment or worrying about location for your business.
Also, it makes it easier to approach investors who prefer to loan money to a business that is already in existence or at least has structures in place than that which is still a business idea. Having a business plan in place will help you start your business easily as this will act as a guide to certain actions and decisions that you will make.
6. Know the Possible Threats and Challenges You Will Face
In every business environment, threats and challenges exist and how you handle them determines how ready you are for the business you are looking to start up. Even though it is important to be prepared for whatever challenges you might likely face, not all threats and challenges can be easily handled and so when this happens, the best you can do is wait for the moments to pass while remaining optimistic.
Some of the threats and challenges that you are therefore likely to face when starting your scooter rental business are; having to deal with competition from other existing scooter rental businesses, having to deal with accidents and repairs from damaged scooters, having to attract customers, and the start-up capital required to start the business.
7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
When looking to start a business, knowing the legal entity that would be best for your business is necessary because of the amount of impact it can have on the business.
There are certain businesses that can be run without the entrepreneur being bothered about what kind of legal entity would be suitable for it. The scooter rental business is not one of such businesses due to the amount of risk that the business carries.
There are majorly five kinds of legal entities that are available to entrepreneurs in the United States of America and they are sole proprietorship, partnership, Limited Liability Company (LLC), S Corporation and C Corporation.
When looking to choose which legal entity will best suit your business, you can use certain deciding factors such as ease of setup, ownership and control, flexibility, taxation structure and degree of liability or you get in touch with an attorney who has a thorough knowledge of the industry you are into to help you out.
While the sole proprietorship might look like the easiest legal entity to go with especially as most entrepreneurs in the United States usually go for it; this might not be the best legal entity for your business due to the amount of liability that comes with starting or running this kind of business.
While the partnership kind of legal entity is not bad, it also exposes you and those you are looking to partner with to liability issues and might also serve as a limiting factor when you are looking to source for a loan for your business.
The LLC kind of legal entity is one that shields the owner to a certain degree because the business is seen as a separate legal entity from those that own it. This means that liability is limited for the owners.
Even though this kind of entity is regarded to as a state creation, it is usually preferred by entrepreneurs due to its flexibility and the fact that tax paid on personal income return is same as the sole proprietorship.
The corporation is very similar to the LLC in terms of liability; however it is regarded as a more formal legal entity. Entrepreneurs using this kind of legal entity are often in certain kinds of businesses that will allow them raise stock to the general public. There is the C corporation and the S corporation and the latter is much more similar to the LLC in terms of taxation and flexibility than the former.
8. Choose a Catchy Business Name from the ideas Below
When looking to start a business, it is important that you get a suitable name for your business because this is how your business will be identified by your potential customers, your competitors as well as other stakeholders within the industry.
Choosing a suitable name for one’s business is nothing easy as you will need to ensure that your business name is memorable, catchy and indicative of the industry that you are in.
Below are some of the catchy business name ideas that is suitable for your scooter rental business;
- Bushy trail scooters
- Scooty rentals
- Sprint scooters
- Strike Scooter Rentals
- Swing Scooters
9. Discuss With an Agent to Know the Best Insurance Policies for You
Insurance for scooter rental business might not be so easy to find because of the risks associated with the activity of riding a scooter. Therefore, with the difficulty that comes with finding the right insurance policies for your scooter rental business, you might need to take your time in looking for the right insurance agent or broker that will help point out carriers that will help in carrying the risks that comes with running your business.
Ensure that whatever carrier you choose is one that will not only help manage your risk but also help your business to keep flourishing.
Below are some of the insurance policies that you might need to buy when looking to start your scooter rental business in the United States;
- General Liability Insurance
- Property Insurance
- Motorcycle Insurance
- Workers’ Compensation Insurance
- Casualty Insurance
- Umbrella Policy
- Mechanical Breakdown
- Professional Liability Insurance
- Product Liability Insurance
10. Protect your Intellectual Property With Trademark, Copyrights, Patents
The scooter rental business is one where you will rent out scooters to those that need it for a short or long term period and therefore it will not require you to buy any sort of intellectual property protection.
If however you feel it is vital to protect your company name, logo and any other concepts you deem worthy, you can get a lawyer to help you out but you should note that entrepreneurs in this industry do not consider this a priority.
11. Get the Necessary Professional Certification
Even though there might be need for you to have little technical knowledge so that you can carry out light maintenance; all that is needed for you is to be able to have the start-up capital with which to start the business.
There is therefore no need to have any professional certification when starting or running your scooter rental business.
12. Get the Necessary Legal Documents You Need to Operate
When looking to start your scooter rental business, it is necessary that you get your legal documents in place because it is necessary to run your business without any hassles. If you do not know the documents you will need to start your business, you might need to talk with others running the kind of business that you are in or get in touch with an attorney who knows what you will need in order to get the right documents that you will need to start your business with.
Below are some of the legal documents that you will need to start your scooter rental business;
- Sales Tax License
- Business Insurance
- Certificate of Incorporation
- Operating Agreement for LLC
- Local Business License
- Rental Agreement
- Business Plan
- Employer Identification Number (EIN)
- Federal Tax Identification Number (TIN)
13. Raise the Needed Startup Capital
Having start-up capital for your business is very important because it is the capital that will be used to run the business and generate revenue till the business starts paying for itself.
Sourcing for start-up capital is not easy for any entrepreneur which is why it s important to have a business plan at hand in order to be able to convince investors on why investing in your business will be of huge benefit to them.
Below are some of the financing options that is available to you for your scooter rental business;
- Generating part of your start-up capital from savings or sale of stock
- Sourcing for soft loan from family members and friends
- Getting loan from your business partner or private investor
14. Choose a Suitable Location for your Business
In any business that any entrepreneur is looking to start, location is always such a huge deal which is why a great deal of thought is given to where a business is to be located because of the degree of impact the location has on the business.
Most scooter rental businesses are usually located close to a beach or close to the hub of tourists since these are the ones that are more likely to rent a scooter than the locals.
If you live in an area close to the beach and do not have sufficient funds for your business, then you might need to partner with a local hotel and place signs in vital places in order to get the attention of your potential market depending on the scale of your business, but if you will need to rent a store, ensure that it is as conspicuous as possible.
When choosing a location with which to run your scooter rental business, ensure that it is in a suitable location that will attract a lot of tourists and ensure that the facility you intend to choose has a large parking facility so your scooters can be stored and also seen by your potential customers.
It is essential that the location you intend to choose for your business is one that has a storefront so that you can easily display other materials for sale and also meet and assist the customers who will patronize the store.
If you aren’t sure of the right location for your business, ensure that you contact a commercial real estate agent with knowledge about your kind of business to help you choose a location that will be most suitable for your business.
15. Hire Employees for your Technical and Manpower Needs
Even though tourists are usually regarded as the major customers for these kind of businesses, there are also locals that will be looking to rent scooters every once in a while for various reasons and so it is necessary that you have designed your business in a way that will allow you to cater to the different customers you are likely to get.
While this is a revenue generating business, you should also be aware of the expenses that you will incur in order to run the business to a reasonable standard. Even though scooters are generally easy to operate, there will still be a number of your customers getting into accidents or damaging the scooter, and these are expenses and situations that you should be prepared to face at every moment the business is operational.
It is important that you purchase your scooters from a reputable dealer so that you are able to reach them and amicably settle any complaints that might arise from the scooters you have purchased.
To get reputable dealers, you might need to conduct a research online or check with your local Chamber of Commerce. Ensure that the scooters you have purchased are enough to start your business and run it successfully.
If you are going to be running a medium or large scale operation, it is vital that you build a solid business structure where you will hire dependable hands to help run your business efficiently. Even though you will not need to employ much, you will still need to employ an office manager, front desk officer, marketing and sales executives, account officer and security guard.
From the above break down, you will need at least 5 key people to run your scooter rental business successfully.
The Service Delivery Process of the Business
Once you have decided on starting your scooter rental business, it is important that you apply for a business license and also find out the necessary documents and licenses you will need to start your business and run it with as less hassles as possible.
Once the legal ground has been taken care of, knowing reputable dealers from which to purchase your scooters is necessary so that you can have a warranty on the products that you have purchased.
Decide what packages you are going to offer your potential clients and what the payment structure would be like plus how you intend to handle cancellations.
16. Write a Marketing Plan Packed With ideas & Strategies
Marketing your scooter rental business successfully might not be easy as it would be for other businesses because a large base of your potential market are those that have no idea whatsoever about your business and so one of the easiest ways you can catch their attention is ensuring that you are located in a place that is conspicuous and has ample traffic. Even though this might likely cost more, it will allow you generate enough revenue to cover your start-up and operating costs.
Marketing, if not carefully handled, can become an avenue for a business to waste money on campaigns without getting customers back in return. This is why it is oftentimes important to have a marketing plan in place. Marketing is more than an avenue to generate funds, it is also a way entrepreneurs can generate the needed awareness for their business and then convert this awareness to money.
Most entrepreneurs starting out either get a marketing consultant to help them with crafting the right marketing strategies or hire marketing executives that understand what goals they are trying to achieve to help out in creating, reviewing and modifying strategies.
The internet has also made it very easy for entrepreneurs to put their businesses out there in order to be able to gain more attention from the intended target market especially with the rising use of smartphones.
Below are some of the marketing ideas and strategies that can be used for this particular business;
- Ensure that you partner with hotel and tour employees to help refer your scooter rental business to potential clients
- Ensure that your scooter rental business is listed in local business directories
- Create attractive fliers and brochures and have them displayed as various strategic locations such as local hotels, restaurants, bed and breakfast establishments as well as other tourist attraction sites
- Create a website and display pictures of your scooters, your scooter packages, hours of operation plus other vital information
- Ensure that you use social media platforms such as Facebook and Twitter to constantly market your scooter rental business
17. Develop Iron-clad Competitive Strategies to Help You Win
The scooter rental business usually peaks during summer when tourists usually visit a place, state or country and so this means that you may likely not be the only scooter rental business around and therefore will need strategies that will allow you to not only attract potential customers but also enable you to compete against your competitors. If you do not have any strategies in place to win over your competitors, then it is likely that you will lose a lot of customers and revenue.
Some of the competitive strategies that you should therefore have in place when looking to start in this particular business include; ensuring that you have varying rental packages for your customers, ensuring that your rates are fair and that you offer value added services to your customers as well.
18. Brainstorm Possible Ways to Retain Clients & Customers
Attracting customers for your business is one way to generate revenue for your business, which is why there are plentiful strategies that help an entrepreneur easily attract the needed clients for their business.
However, while customer attraction is key to the survival of a business, ensuring that a high number of them are retained is key to continued growth and survival of the business. Even though most tourists might not come back to rent your scooters, once they are satisfied with your services, they can easily refer others to your scooter rental store.
It is a known fact that businesses that retained a high number of their customers end up spending less than those that continually lose customers.
Some of the reasons why customers usually leave a brand for another is poor quality of service, terrible customer care, high charges and a host of other factors, so it is in the interest of your business to ensure that your services are top notch and that your rates are competitive enough.
19. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
In every business that is started, entrepreneurs often have to seek for ways they can continually make their business visible. This is because the more visible a business, the higher the chance of increasing its revenue generation.
Already successful companies understand how much being visible helps their business and so always strive to set aside money to continue to remain visible and positively communicate their brand to their potential target market.
Like all important decisions that you will make when you are starting your business, it is important that you have undertaken a thorough research about your target market in order to know what strategies will most likely suit them and so that you do not waste time and resources on strategies that will not work for your business.
Below are some of the strategies you can use to boost awareness and create a corporate identity for your scooter rental business;
- Ensure that you have flexi banners in strategic places in order to create awareness for your business
- Offer other services such as guided tours in order to increase awareness for your business
- Ensure that you create a website and then hire someone that can promote your website so that it can rank tops in search engines
- Distribute handbills and fliers in various strategic locations where your customers are likely to congregate
- Make use of your social media platforms such as Snapchat, Instagram and YouTube in order to increase publicity for your scooter rental business
More on Automotive Industry
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- Business Plan for Motorcycle Rental Agency
Motorcycle Rental Agency Small Business Idea and Business Plan
Starting your own small business in the UK isn’t easy but having a properly developed business plan will help you achieve success.
To start a Motorcycle Rental Agency business in the UK, take the time and explain the idea via a business plan.
Understanding all of the aspects of the business idea will be the key to getting the Motorcycle Rental Agency business running like a well-oiled machine. The business plan you develop will help you organize the elements needed into a strategy that you can actually use to startup, by paving a clear road map as to what you need to follow for the lifespan of your business.
Starting a Motorcycle Rental Agency business isn’t easy, but when done right, it can lead to a lot of success.
To help you get started, you can use the free business plan builder tool to develop your own Motorcycle Rental Agency business plan.
The business plan template is very easy to use, is interactive and will quickly and easily help you create your business plan just by answering the needed questions about your small business idea.
Create your own Motorcycle Rental Agency business plan for free using the Business Plan Builder
The free business plan template builder is divided into a few easy to follow steps.
The free business plan builder template is provided by UKStartups.org to help you develop your own business plan. For step by step guidance, see the 5 steps below.
Once completed, the result will be a clean, professional plan that will help you start your own Motorcycle Rental Agency small business in the UK.
When you have completed your Motorcycle Rental Agency business plan, the next step will be to find available funding that will help, or to speak with a funding adviser who will assist you each step of the way to securing the needed funds to make your Motorcycle Rental Agency business startup.
If you are looking to limit your startup costs when starting up a Motorcycle Rental Agency small business in the UK, this free business plan builder tool will be it.
Starting a Motorcycle Rental Agency business is only one of the ways others have used this free business plan tool. There are hundreds of different ideas you can start, and if you need guidance, do reach out to a UKStartups expert to get the needed assistance and guidance.
Step 1. Your business information
To develop a proper Motorcycle Rental Agency business plan with the free business plan builder template, it is important to answer each of the questions about your business to the best of your abilities.
What is your business? What are the products/services you provide? Who are your customers? What are your goals…etc?
Having a clear explanation will help you create a in-depth business plan that you can actually use to start the Motorcycle Rental Agency business and to apply for needed funding to cover your startup costs.
Step 2. Projecting your revenues/income
The Motorcycle Rental Agency industry can have great results. Planning and projecting the financial figures to approximate what you will make each year is crucial to building a strong business plan.
What do you think your business will make from each of its products/services? Simply list your products/services, enter the appropriate financial figures (costs and expenses).
If you don’t have the figures, in many cases it is recommended to do a a bit more research on other Motorcycle Rental Agency businesses locally and within your own region to get an idea of potential revenue. You can do your best to estimate the figures and growth potential.
If you need assistance in projecting, you can always contact UK Startups funding experts for the help.
Step 3. Your business market
As a Motorcycle Rental Agency business, having a clear explanation of the market and industry that you are in will help you plan for the figure and will ensure you can take the business to the next level.
Explain your location of business, share specifics about your customers, showcase your competition and explain the advantages you have over your competition.
Step 4. The future plan
Starting your own Motorcycle Rental Agency business and getting it off the ground is important to you.
No matter if you’re planning on applying for government funding for your Motorcycle Rental Agency business or not, it is important to plan out the future and provide an explanation of how you will grow the business. This means explaining your marketing plan, your sales strategy and clearly outlining a growth plan for the next few years.
Be sure to break this down step by step to show how you intend on making sure your Motorcycle Rental Agency business can grow each year.
Keep in mind that often business plans are focused on key people. Be sure to discuss yourself, your role and any other key figures in the business as well.
Step 5. The financials
In the end, it all comes down to the financials. If you are seeking funding, or not – the business plan you develop needs to have clearly defined financials or projections. The business plan builder tool makes it easy to develop your financial charts by simply entering your expected revenues per month and year. If you don’t have the figures as it’s a new business be sure to project the figures based on your expectations. If you need help with this, ask the UK Startups experts .
A clear breakdown of your funding needs is also recommended in case you are seeking funding and this free business plan template will help you with exactly that. When developing your Motorcycle Rental Agency business plan using this free template, the above 5 steps are recommended in order to succeed. While there are other key points that will assist you in starting your business, finding funding...etc, the free template will help put you on the right path
Be sure to request a professional to review your business plan , to answer any questions you may have and to help you with the funding search once you’ve done the initial free template. You can request this directly via UKStartups.org and through the Small Business Startup Platform as a member.
If starting a Motorcycle Rental Agency business is just one of your ideas, perhaps considering other options, here are some popular small business’s others have chosen to startup
- Dock Builder
- Window Treatment Store
- Maltese Restaurant
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The motorcycle skills test administered by the DMV isn’t exactly representative of actually riding on public roads. As they say, it’s designed “...to demonstrate the ability to control the motorcycle through several skills.” In practice it can demonstrate your ability to drop your shiny new bike while trying to weave around little cones.
There are four main parts of the test which we’ll walk you through on the morning of your test. Follow the links below if you want to watch the DMV videos explaining each one.
Identify controls
Serpentine / Circle ride
Slow / Circle ride
Gear shift ride
Ready to take the test?
First you'll need an appointment. Go to the DMV website and set up a Behind-the-Wheel Drive Test at the Santa Clara DMV.
Next just book your appointment with us and we'll meet you there. That's it!
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Follow the steps below to start a motorcycle rental business 1. Research the Industry The best information you can get about starting a motorcycle rental business is from people already in the business. So let's look at a few ways to acquire this information. a.) An Inside Look at The Business Look for a motorcycle rental business for sale.
Starting a motorcycle rental business requires a great deal of effort, dedication, and most importantly passion. If you're interested in how to sell motorcycle rental, or selling motorcycle rental online, you can use this page as a guide for everything you'll need to know. Discover ideas that make money
The Traditional Way To start a motorcycle rental business, you first need to register either an LLC or a corporation in the state of your choice. Some states require specific licenses to operate vehicle rental businesses, and you will need to obtain these.
Elements of a Motorcycle & Motor Scooter Rental Company Business Plan Every business plan is unique. However, the most effective business plans do address specific sound business plan elements: Mission Statement Your description of your motorcycle and motor scooter rental business's reason for existing.
Retail Business Expenses. If you plan to have a brick & mortar location for your motorcycle rental business, you must weigh the costs of your rent, as it may be the most expensive part of running your business. Rent costs for your motorcycle rental business very much depends on your location. This cost will vary by both region and specific ...
Properly set up and managed, a motorcycle rental business can be a highly profitable venture. Many people want to enjoy a ride on a fast two-wheeler, but don't want the hassle of owning and maintaining their own motorcycle. This is a market you can serve.
Business Plan Sample BOB'S RENT-A-BIKE, LLC (DATE) CONTACT: Bob Adams, Founder 1000 Main Street 617-385-9000 This business plan is confidential. SUMMARY Business Concept We will be part of the large and growing bicycle rental industry. Our target market is summer visitors to Cape Cod, particularly central Cape Cod.
Create your own business plan 1.1 Objectives Rent 150 units in year one. University Mopeds will be fully self-sufficient and profitable by year three. Rent at least 199 units by year three and 263 units by year five (15% annual growth rate). 1.2 Mission University Mopeds will service the student first.
Create your own business plan 1.1 Objectives The objectives of Recycled Riding Dreams are: Capture the majority of the used motorcycle business in the Montclair. Offer our customers a superior service, at a low price. 1.2 Mission The mission of Recycled Riding Dreams is to become the primary resource for used motorcycle parts in Montclair.
Start a bike rental business by following these 10 steps: Plan your Bike Rental Business Form your Bike Rental Business into a Legal Entity Register your Bike Rental Business for Taxes Open a Business Bank Account & Credit Card Set up Accounting for your Bike Rental Business Get the Necessary Permits & Licenses for your Bike Rental Business
Sample Motorcycle Rental Business Plan Template #92054, written on Friday, July 16, 2021 12:08:00 PM, in Oceanside, . Here's is How to Write a Business Plan BUSINESS DESCRIPTION. All2Wheelsrental Enterprises is a quality Services, high-energy, Motorcycle Rental business.
Get your wheels rolling with Rentle Motorcycle Rental Software. Accept online bookings and manage your entire motorcycle rental business in one place. Rentle Motorcycle Rental Software has all the tools for smoother order management, asset tracking, and more. Get started in just a few clicks. Start for Free Book a Demo.
It is expected that the scooter market and electric motorcycles will generate more than $55 billion by 2024 according to Global market insights, Inc. It is expected that the market size will continue to increase due to the fact that scooters have environmental benefits over others that are powered with gasoline.
This free business plan builder template will help you develop your own Business Plan for Motorcycle Rental Agency. The business plan template is an interactive tool that will quickly and easily create a custom business plan just by having you answer questions about your business.
Having a clear explanation will help you create a in-depth business plan that you can actually use to start the Motorcycle Rental Agency business and to apply for needed funding to cover your startup costs. Step 2. Projecting your revenues/income. The Motorcycle Rental Agency industry can have great results.
4. Fill out the proper paperwork to become legit. Once you've got your plan drawn out and a bank account opened, you'll need to acquire the necessary paperwork to operate your business legally. Look into state and local requirements to see what you need to do to get a business license in your state, and go from there.
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The motorcycle skills test administered by the DMV isn't exactly representative of actually riding on public roads. As they say, it's designed "...to demonstrate the ability to control the motorcycle through several skills." ... DMV Moto Rental, 3665 Flora Vista Avenue, Santa Clara, CA, 95051, United States ...
Motorcycle Rental Business Plan: Plagiarism check Once your paper is completed it is check for plagiarism. 4.9/5. Essay writing help has this amazing ability to save a student's evening. For example, instead of sitting at home or in a college library the whole evening through, you can buy an essay instead, which takes less than one minute ...
1. Summit Bicycles. "rides, bike types, bike models, the tuning guarantee, finalized the rental, helped to get the bike..." more. 2. San Jose Bicycle Rentals. "You can reach them at (408) 261-2453 Great long range electric bikes ." more.