Reasons to start a bike rental system business
People have moved on from living in the owned economy to preferring the shared economy. For most individuals, owning material possessions like vehicles, furniture, and appliances doesn’t have the same appeal as it did a couple of years ago. This is why the bike rental system business is in great demand.
They would rather rent things like vehicles and appliances on a need-basis and avoid any long-term financial and spatial obligations. With the growing prevalence of a shared economy, on-demand rental services have become a lucrative business model with everything from basic kitchen utensils to bikes and cars being available for rent.
- Untapped Potential
- Freedom of Movement
- Flexible Pricing
- Easy Setup
- Minimal Investment
- Marketing Opportunities
- Reach Booster
The bike rental system business, in particular, has picked up a lot of steam in metros and tier-2 cities given the hassles of public transport. People don’t want to wait around for a bus or travel in a crowded metro.
They much rather rent a bike, avoid the mad traffic, and commute without any hassle. If you too are considering starting a bike rental business, allow us to explain why you’re making the right decision.
A bike rental system business is the easiest way to solve people’s commute woes, especially in tier-2 cities that have rapidly developed in the last couple of years. The working population, in particular, needs an affordable means of transport that is also convenient.
With a bike rental business, you can offer comfortable bikes for rent at reasonable rates and foster regular customers that’ll keep your business going. And thanks to the increasing popularity of the rental economy, more people are open to the concept of renting a bike for their needs instead of buying it.
Freedom of Movement
While public transport is cheap and well connected, it follows a pre-decided route that often leads straight to hours of traffic. With a bike rental system business, you can offer your customers the freedom to take whatever route they want.
Also, depending on the hourly or day-based rental you follow, your customers can travel as much as they want in the city without buying multiple tickets or dealing with heavily trafficked roads. This level of convenience is unparalleled especially when it comes to transport and local commute, making a bike rental business a great choice.
Like any other on-demand service, a bike rental business can also implement surge pricing when the situation calls for it. For metros, these would include the daily commute hours when the demand for bikes shoots up considerably.
Depending on the local market and perceived spending capacity, you can set a price that works best and helps you become profitable in the long run. With the added advantage of surge pricing, you can earn more from your customers without investing any additional money.
Unlike an offline business, a bike rental business is easy to set up and doesn’t require a lot of time and effort on your part. In fact, a majority of your time will be spent in putting together your bike fleet and once that is taken care of, you can employ a powerful fleet management software to start your rental business.
With a reliable fleet management system and carefully sourced vehicles, you can start your bike rental business in earnest. Jugnoo offers robust bike rental software equipped with all the features you need to start a successful bike rental business.
A major chunk of your investment will go towards arranging bikes for your fleet. This can be done in two ways: you either lease the bikes from a reliable source and buy them eventually or buy them from the beginning and spend a considerable amount of money.
Apart from the bikes themselves, you don’t have to spend huge sums of money to bring your bike rental business to life. You can power your business with excellent bike rental software and get it running in a week.
One of the biggest advantages of starting an online business is the enhanced reach and marketing opportunities that come with it. Since your business is online, you have many more ways to market your services when compared to an offline business.
From push notifications and alerts informing customers of lucrative deals and discounts to relevant text and banner ads, there are many ways you can bring in more customers or retain your existing ones.
There’s nothing like a popular on-demand service that’s available on the app to reach the wide, wide world of the Internet. For instance, the number of people you can potentially reach if you run a physical bike rental store is far less than one that’s online.
When your business is online, you don’t have to be restricted by your physical location. Your potential customers can be from any part of the city you’re operating in as long as your bike fleet is available in that area.
Build a Bike Rental system Business With Jugnoo
Now that you’re aware of the many advantages of running a bike rental business, let’s show you the ropes of how to build one.
Once you have a bike fleet up and running, you need robust bike rental management software that’ll help you set up your bike rental business without any hassle. We offer a suite of tech products designed to tackle all the challenges faced during the set-up of a bike rental business.
Our software is packed with fully classified and advanced features designed to help you run your bike rental business as smoothly as possible. Some of our advantages of choosing Jugnoo to launch your bike rental business are:
- Automated Bluetooth locking and unlocking feature to help you provide your customers with an easy bike booking experience. Our Smart Lock is equipped with GPS positioning and a Geofence alarm to ensure the safety of your bike and customers.
- Our bike rental management software is packed to the brim with advanced features that can handle all your needs. Our setup process is easy and you can launch your bike rental app in just 7 days.
- A dedicated customer app designed to offer your customers a hassle-free booking experience. From a customizable user interface to alerts and notifications, our customer app is designed for optimum performance.
- Make use of our powerful admin dashboard to analyze your business data, identify potential pain points, and address them accurately to improve your business and profit margins.
These are just a few advantages that make Jugnoo a great bike rental management software. Learn more about our offerings and features by getting in touch with our team of experts right here.