How to start a bike rental business?
With constantly changing jobs and geographical location, most people would rather have limited things in their possession so that their next life or career move isn’t dictated by their demographic location. With a bike rental business, you can fulfil a very crucial consumer need; a cheap rental service.
Why is a Bicycle Rentals A Great Investment Opportunity?
Tap Into the Power of a Shared Economy: Rental businesses are a sure-fire way to tap into the growing market of a shared economy. In today’s fast-moving world, people aren’t as inclined to own things, be it a vehicle, furniture, or even a house, as they were back in the day. By offering the services to rent bikes, you let them use a 2-wheeler without having to pay a lot of money.
Suited to Today’s Individuals: With the bicycle rentals, you can provide students and working professionals the vehicles they need to move around without having to invest a huge sum of money. The reliance on the rental way of life is particularly prominent in metro cities where finding a cheap mode of transportation is challenging, making a bike rental shop- a perfect fit.
Limitless Growth Potential: If you offer the rental services that accurately captures the needs of today’s individuals, you’ll have a sustainable and eventually profitable types of businesses that are not even too investment heavy or time-consuming.
Easy to Set Up: Like every other business in today’s technology-driven world, establishing the business to rent bikes is made easy with various tools and software available for online booking.
Sold on why you should start a bike rental business? Great. But before we get into how to start a rental service business, let’s look into a few things you need to consider when setting up the business.
What You Need to Set Up Bicycle Rental Business?
- The number and types of bikes you offer to customers are both amongst the most important factors to consider when you plan to start a bike rental shop. Depending on how much demand you’re anticipating and your initial budget, you can come to a decision that best suits your business with minimum startup costs.
- The location of your bike rental business also determines the types of bikes you’ll provide to let your customers sign in. For instance, if you’re based out of a hill station, you’ll have more heavy-duty bikes for tourists to go exploring. On the other hand, if you’re operating in a metro city, type of bikes that will be preferred would be scooters. The success of your bike rental business depends on how appropriate your bike collection is to the location.
- Ensuring the safety of the bikes you rent out is very crucial to building a sustainable bike rental business. There are many ways you can track your rented bikes and ensure their safety including GPS locks, real-time tracking, and more. This acts as a liability waivers to your rental business operations.
- Getting the appropriate licenses when starting any business is a given. For bike rental shop, you need to comply with the Bike Renting Scheme 1997 and the State laws that apply. For instance, your bike rental business needs to have at least 5 bikes when you start and these bikes need to be registered under the commercial category.
- To ensure you’re renting your bikes to reliable customers, always get them to register on your app or platform with a valid government ID. When the customer sign up for your service, make them aware of the terms and conditions, and get them to sign a legal agreement with you. This will help protect your interest in case of a potential traffic violation or theft issue.
- Make sure you have all the proper documents for all your vehicles available at all times. This will help you run your bike business without any hassle or unnecessary trouble from local authorities.
How to Start a Rental Business with Jugnoo?
Now that you understand the basic things you need to be aware of to start a bike rental business, you might be wondering how to go about starting your bike rental or scooter sharing business. The answer is Jugnoo.
Jugnoo equips you with the tools necessary to launch your bike rental platform within a week. We can help you create customized apps with end-to-end integration with hardware locks, bikes, and scooters. Our bike rental management software offers a complete tech suite designed to meet all your customers’ needs and helps you run your bike rental business seamlessly. Some of the features of our bike- friendly tech suite are:
Apps For Everyone: Jugnoo provides you with customizable, white-labeled bike rental apps to help you run your business more smoothly. The apps can be modified according to your requirements and offer automation opportunities and functionality across different devices.
Intuitive Customer Experience: Our customer app is easy to navigate and allows your customers to rent a bike in three easy steps. The intuitive app interface works smoothly across all kinds of devices and offers customers a consistent and superior experience every time they use it.
Bike Unlock Functionality: Jugnoo equips your bike rental business with an in-app Bluetooth security system that allows you to lock or unlock a bike remotely without any key. To unlock a bike, all the customer has to do is scan the code available on the bike and start their ride. This key-free experience doesn’t just delight your customers but also encourages them to use your hassle-free bike rental services again.
Seamless Payment: Easy payment options are the cornerstone of any business and when you partner with Jugnoo to set up your bike rental business, you get access to plenty of payment options, including cards, wallets, and more. With our secure mode of payment and reliable payment gateways, your customers will be more inclined to complete a transaction and even return for more.
Automated Workflow: As the admin of your bike rental business, you need to take control of various aspects of its day-to-day functioning. This includes tracking bike availability, accepting or rejecting bookings, price monitoring, and much more. Jugnoo helps you seamlessly manage all this with its bike rental solutions including workflow automation. With smart tools in place to help you manage your bike rental business, you’ll improve your efficiency and eventually, your profits.
In-Built Marketing: With Jugnoo’s in-built marketing functionality, you can send your customers push notifications and alerts to inform them about upcoming discounts and promotional offers. This is a great way to not just market your services to customers who have already used your services but also to bring in new customers through positive word of mouth. Get started with a powerful marketing campaign for your bike rental business.
Proficient Hardware Integration: Dealing with your bike or scooter vendors to sort out hardware integration is a thing of the past when you use Jugnoo’s smart bike rental management software. We offer a host of bike rental solutions including GPS positioning, geofence alarm, smart locks, mobile app integration with e-locks and locks, and much more.
These are just some of the features Jugnoo offers to help you start a business. Leverage our powerful suite of tech solutions and get the bike rental customers without any hassle. Need to know more about Jugnoo and it’s bike rental management software? Get in touch with our team of experts right now.