Dynamics of Rental Bike System with EVs
The earliest records of car hire or any other vehicle hiring are back in 1900. Since then, a lot has changed and is evolving with time. In this write-up, we are going to discuss those transformations and how they are going to impact the mobility sector in the coming times.
Way back then, an individual used to rent/ hire a bike from its acquaintance or from kin. But, with more hold in the process, it is now possible to rent a bike from other sources too.
Let us walk through the contents:
- Bike Rental System: An overview
- Reason for its popularity
- How is the bike rental marketplace different from other on-demand marketplaces?
- Getting started with Bike Rental System in no time
- The changing mindset of potential customers
- Big players from the Ride-hailing industry choosing Bike Rental Business Module
- Why Choose Experts?
Before we kick start the discussion, let us get a brief about how the rental bike system works and what are the important aspects of the process.
Bike Rental System: An overview
A process that allows an individual to rent a bike from a registered supplier/ authorised individual or company in return for a fixed fee.
With more people switching to urbanisation, the bike rental process has become an integral part of nowadays life. The list of added benefits makes it possible for society to create a better opportunity ground for bike rental systems and business providers.
Reason for its popularity
Convenience: Bike Rental System offers much-needed convenience to the riders/ individuals who don’t own a vehicle of their own. It can add a progressive approach and can motivate people to avoid purchasing the vehicle and opt for the rental services.
Affordability: Another aspect that should not be missed is that with the bike rental system business model, the benefit of affordability fills all the gaps for those, who are not willing to put a burden on their pocket. This makes it easy and pocket-friendly for bike lovers.
Paperless operations: If you ask anyone in operations what is their biggest struggle, they will complain about the piles of paperwork and manual efforts they have to put in. Every other ops team suffers from the same. However, the digital bike rental system eases out the pain. Everything is operated and automated through digital channels. With no or minimal paperwork, the team can downtime the manual efforts. This makes the bike rental process transition to the digital channels- a favourable and cherishable transition.
Asset-light business idea: When we speak about the launching and setting up of any mobility business, we think about the chance to make a hefty investment and start managing things first-hand. On the other hand, the choice for the bike rental business idea comes with an asset-light module. You can start with a single bike or can ask for a bunch of vehicles.
Get a quicker ROI: The quicker ROI gives the assurance of creating a successful business model. You can expect a better and swifter outcome with the bike rental business. Unlike other businesses, you might need to compete with other big players. Luckily, the bike rental marketplace use case is still untapped and has a lot of potentials. You can own the market with a few better strategies that can help you to stand out in the competition.
To read more about the reasons for the popularity, read: Benefits of an automated bike rental system
How is the bike rental marketplace different from other on-demand marketplaces?
Many people keep on asking the same question. There is a huge difference between the bike rental marketplace and the other on-demand marketplaces.
To put it simply, owning a bike rental marketplace helps your team to automate the processes with a few digital interventions ( renting out via an app). Unlike other on-demand marketplaces for travel, when you choose the bike rental marketplace business model, you are choosing to keep it simple and easier for the team to manage your assets. You might not need to keep a strong eye over the movement of your assets(bike). You can digitally locate the assets via GPS.
Moreover, as compared to any other on-demand marketplaces, the bike rental marketplace gives you a better ROI in less time. Click here to get a better understanding of the two.
Getting started with Bike Rental System in no time
If you are about to start a bike rental business, click here.
A strategic move with a complete checklist can help you to set up and launch your bike rental business in no time. Once you are done with the above write up (how to start a bike rental business), you can also go through our free e-book to get a better overview.
The limitless growth potential and less investment make it an optimum choice for the future. If you are willing to enter the rental marketplace for the mobility industry, choosing bike rental would be a great deal. The high potential, the investment breakthrough, the less manpower requirement are a few of the listed benefits that can make you wonder why your decision would be an ideal one; owing to the current situation. Read more to know about the reasons to get started with this exclusive business idea.
The changing mindset of potential customers
Entrepreneurs often get confused about whether they should opt for any rental system (bike) or should go ahead with any other business investment. Here is the much-awaited and fact-loaded answer.
Earlier customers were preferring private mobility options with maximum room for luxury and privacy. But, with the changing mindset of people, you can think of scoping out your rental business. The Z gen has given a new scope of making the rental business; a successful business idea. The rental business is booming and is capturing a major mobility share in the market.
Though it is an emerging business idea, experts believe that it is one of the promising ones. And no wonder, there is less competition in the market for bike rental business use cases. It makes it evident and more reasonable to choose a bike rental business as your next or first business idea.
Big players from the Ride-hailing industry choosing Bike Rental Business Module
Heard about Ola? It is one of the major players in the ride-hailing industry ruling the on-demand taxi business. Progressing towards the new zones of growth, Ola has decided to enter the electric mobility sector.
According to the latest news, Ola has announced that they will be delivering this month launched electric scooters by October 2021. It has been speculated that in the coming times, they will start with the bike rental module too.
If you are or will plan to get started with a bike rental business plan, it is the ideal time to get started. Pick up the best tech partner to digitise your bike rental business plan and make a new advance by choosing the best strategies to capture the market before others capture it.
Getting started in no time is no longer a dream. All you have to do is finalise the hardware and software. Connect with our experts to get a better understanding of the process and outcomes.
Why Choose Experts?
There might be a little confusion when it comes to choosing rental software for your business. Though the market has many players with their offerings, it is always ideal to settle for nothing less than the perfect ones.
Jugnoo holds the customer’s highest trust vote when it comes to checking for the feature-loaded rental software. Moreover, the past record of the bike rental software makes it evident that you need to trust the experts. Starting from the pre-sales support to the customer support team, Jugnoo helps you to set up and launch the business module in no time.
Book your appointment with our experts today to know in detail about the software. We wish you great luck in starting with your own bike rental system.