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Mopeds Rental Business Plan
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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.">.
There is a possibility for an exciting and profitable new business in Eugene, Oregon. University Mopeds will to rent mopeds to University of Oregon students, as well as anyone who would have a need for efficient, around-town transportation. There is currently no business like this, in Eugene, which caters to this market.
For slightly more than the cost of a monthly cellular phone bill, it is possible for a student to have their own mode of transportation during the school year. Mopeds have many positive advantages over cars: lower operating costs, fuel efficiency, and are less costly to maintain. It is also possible to insure these vehicles for around $30-$50 per year.
The target market for this business would be the approximately 15,000 full-time students. There are also thousands of students who are commuting daily from the Autzen Field area. Parking on campus is hard to find, and the bus offers few options. This is where the economical moped comes into play.
Many students do not have the disposable income that it takes to purchase a moped, but they are in a position to pay $50 per month to rent one. University Mopeds would purchase used mopeds for $400-$700 and lease them out. The average moped would be paid off in under one year.
In year one, University Moped would attempt to get 1% of all full-time students. This would equate to 150 mopeds rented. We expect the five year growth rate to be at least 15%.
Assuming an average purchase price of $550, and a ten month rental contract at $50 per month, it is possible for University Mopeds to be profitable in year two.
- 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).
University Mopeds will service the student first. At University Mopeds, clients will be able to rent a quality means of transportation at a fair price. University Mopeds will also be a profitable business which will treat employees fairly and provide financially for its owners.
1.3 Keys to Success
- Good customer service and value.
- Affordable rental prices.
- Reaching the target market.
- Integrity in serving our customers; resulting in repeat purchases.
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Electric Scooter Business Plan Sample PDF Example | Free Download Presented by BizMove
Watch This Video Before Starting Your Electric Scooter Business Plan PDF!
Checklist for Starting a Electric Scooter Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Electric Scooter business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
For more insightful videos visit our Small Business and Management Skills YouTube Chanel .
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How the Need For Capital Arises
There is more than one way to skin a cat. You'd better remember this old adage when your business needs more inventory, personnel, and facilities. As your business grows, so does your need for more and more capital. Remember there is more than one way and more than one place to raise the money you need.
Causes of Additional Capital Needs
There are many factors that can create a need for additional capital. Some of the more common are as follows:
Sales growth requires inventories to be built to support the higher sales level.
Sales growth creates a larger volume of accounts receivable
Growth requires the business to carry larger cash balances in order to meet its current obligations to employees, trade creditors, and others.
Expansion opportunities such as a decision to open a new branch, add a new product, or increase capacity.
Cost savings opportunities such as equipment purchases that will lower production costs or reduce operating expenses.
Opportunities to realize substantial savings by taking advantage of quantity discounts on purchases for inventory, or building inventories prior to a supplier's price increase
Seasonal factors, where inventories must be built before the selling season begins and receivables may not be collected until 30 to 60 days after the selling season ends.
Current repayment of obligations or debts may require more cash than is immediately available.
Local or national economic conditions which cause sales and profit to decline temporarily.
Economic difficulties of customers that can cause them to pay more slowly than expected.
Failure to retain sufficient earnings in the business.
Inattention to asset management may have allowed inventories or accounts receivable to get out of hand.
Frequently, the cause cannot be entirely attributed to any one of these factors, but results from a combination. For example, a growing, apparently successful business may find that it does not have sufficient cash on hand to meet a current debt installment or to expand to a new location because customers have been slow in paying.
Short- and Long-Term Capital
Capital needs can be classified as either short- or long-term. Short-term needs are generally those of less than one year. Long-term needs are those of more than one year.
Short-term financing is most common for assets that turn over quickly such as accounts receivable or inventories. Seasonal businesses that must build inventories in anticipation of selling requirements and will not collect receivables until after the selling season often need short-term financing for the interim. Contractors with substantial work-in-process inventories often need short-term financing until payment is received. Wholesalers and manufacturers with a major portion of their assets tied up in inventories and/or receivables also require short-term financing in anticipation of payments from customers.
Long-term financing is more often associated with the need for fixed assets such as property, plant, and equipment where the assets will be used in the business for several years. It is also a practical alternative in many situations where short-term financing requirements recur on a regular basis.
A series of short-term needs could often be more realistically viewed as a long-term need. The addition of long-term should eliminate the short-term needs and the crises that could occur if capital were not available to meet a short-term need.
Whenever the need for additional capital grows continually without any significant pattern, as in the case of a company with steady sales and profit from year to year, long-term financing is probably more appropriate.
Whether you manage a factory, wholesale outlet, retail store, Service store, or are a contractor, you will need to sell. No matter how good your product is, regardless of what customers think of it, you need to sell to survive. Direct selling methods are through personal sales efforts, Advertising and, for many companies, display - like the packaging and styling of this item itself - in kitchens, at the institution, or even both. Establishing a fantastic reputation with the general public through courtesy and distinctive services is an indirect process of selling. While the latter shouldn't be disregarded, this short discussion will be confined to direct marketing methods. To establish your business on a firm footing requires a great deal Of aggressive personal selling. You may have established competition to overcome. Or, if your idea is new with little or no competition, you've got the extra problem of convincing people of the value of this new idea. Private selling work is almost always essential to achieve this. If you aren't a good salesperson, seek a worker or asociate who's. Another way to create sales is by advertising. This may be done Through newspapers, shopping newspapers, the yellow pages section of the telephone directory, along with other printed periodicals; radio and television; handbills, and direct mail. The media you choose, as well as the message and style of presentation, depends upon the specific customers you wish to attain. Plan and prepare advertisements with care or it'll be ineffective. Most media are going to have the ability to describe the features of their viewers (readers, listeners, etc.). Since your initial planning described the characteristics of your potential customers, you want to match these features with the media crowd. If you're selling expensive jewelry, then don't advertise in high school papers. If you fix bicycles, you likely need to. Advertising can be quite expensive. It Is a Good Idea to put a limitation upon An amount to invest, then remain within that limit. To help you in determining how much to invest, study the working ratios of similar businesses. Media advertising salespeople will help you plan and also prepare advertisements for you. Make sure you tell them your budget limitations. A third Way of sparking sales is successful displays both in Your place of company and out it. If you've had no prior expertise in display work, you are going to want to study the topic or turn the job over to someone else. Observe displays of different companies and read books, trade magazines, and the literature provided by equipment manufacturers. It could be wise to hire a display expert for your opening display and unique events, or you could obtain the help of one on a part-time foundation. Much depends on your kind of business and what it requires. The appropriate amount and types of selling effort to utilize vary from business to business and from owner to owner. Some companies prosper with low-key revenue efforts. Others, such as the used-car lots, thrive on competitive, hoop-la promotions. In any event, the importance of successful selling can't be over-emphasized. On the other hand, do not Eliminate sight of your major objective - to Make a profit. Anyone can produce a large sales volume selling dollar bills for ninety bucks. But that won't last long. So keep control of your costs, and cost your product carefully. Record Keeping. 1 essential element of company management is the keeping of adequate records. Study after study shows that many supervisor failures could be attributed to inadequate records or the owner's failure to make use of what information was accessible to him. Without records, the businessperson can't see in advance which way the company is going. Up-to-date records may predict impending tragedy, forewarning one to take action to avoid it. While extra work must keep an adequate set of records, you will be more than repaid for the effort and cost. If you are not prepared to maintain adequate records - or have someone Keep them for you - you shouldn't attempt and operate a small business. At a minimum, records are needed to substantiate: 1. Your returns under taxation laws, such as income tax and social Security laws; 2. Your request for credit from equipment makers or a loan From a lender; 3. Your claims about the business, in case you would like to sell it. However, most important, you need them to run your business successfully And to raise your profits. Having a decent. Yet easy, bookkeeping system you can answer such queries as: How much business am I doing? What are my expenses? Which appear to be too large? What is my gross Profit margin? My net gain? How much am I collecting in my charge enterprise? What is the condition of my working capital? How much money do I have available? How much in the bank? How much do I owe my Suppliers? What is my net worth? That is, What's the worth of my possession of The business? What are the tendencies in my Receipts, expenses, profits, and net value? Is my financial position improving Or growing worse? How do my assets compare with what I owe? What's the Percent of return on my investment? How many cents out of every dollar of Sales are net profit? Answer these and other questions by preparing and studying balance sheets and profit-and-loss statements. To do this, it is Important that you record information regarding transactions as they occur. Maintain This information in a detailed and orderly manner and you will have the ability to answer the above questions. You'll Also have the answers to these other vital questions About your business as: What services or products do my customers like best? Next best? Not at all? Do I take the merchandise most frequently requested? Am I Qualified to render the professional services they need most? How many of my charge Clients are slow payers? Shall I change to cash only, or use a credit card Charge program?
swimsuit taco-truck tailoring-shop talent-management tattoo taxi tea technology teespring teeth-whitening textile thrift-store ticketing tie-dye tiffin tiles tint tire-recycling tire-shop title-loan tour-and-travel tourist-bus toy-store trading trailer-park training tree-service turf turky-farm tutoring tv-mounting typing uhaul ultrasound undergarment uniform used-clothes used-tire vacation-rental vada-pav vending-machine video-advertising video-editing video-production voice-over voip waxing web-design web-development web-hosting wedding-dj wedding-planning weight-loss welding-shop window-cleaning workshop workshop worm-farm wrecker yacht-chart yard-work yarn yogurt zoo zumba-fitness
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Electric Scooter Business Plan For Rental EV Scooters
Task: You are working for a leading consultancy firm in London. Your company offers advisory service to entrepreneurs. Your company is contacted by a new entrepreneur who wants to start a new business in local area. Therefore, your line manager has asked you to draw a business plan report for the client. Use learning outcome 3 and 4 (3. Undertake simple research into a new market area and present the research 4. Apply principles of marketing to a real-world case study) to complete this assignment. You must use the correct format for a business plan and include in your plan with relevant sections. Assignment one is a business plan report that is based on initial market research for your own business idea (2000 words). This report should provide: • Introduction: a) An overview of your proposed business idea b) A brief explanation of the personal expertise you have in this area; why will you be a success? c) A brief discussion of the gap in the market you aim to fill d) The location of your proposed business and justification for the choice d) A brief outline of the report content and structure • Main Body: a) An evaluation of the current external environment (PESTEL analysis) relevant to your proposed business B) A discussion of the competition; the competitiveness of the industry, who your direct/indirect competition might be and what your competitive advantage will be C) A discussion of who your target market will be and a justification for this choice • Conclusion: a) Bring together the ideas of your report; does the PESTEL analysis make the proposed idea viable? b) What are the main opportunities you have identified that you intend to take advantage of? c) What are the main threats you need to be aware of? d) What are the next steps for your business plan (to be completed in your second assignment)
Executive summary The provided business report is based on the new electric scooter business plan, which is being proposed by the line manager of a leading consultancy firm in London. The new business plan, which would be initiated by the entrepreneur, is the rental EV scooters. The business plan will be based on the market area research, which would help the entrepreneur to establish its business in the appropriate area as per the demand of the service. An overview of the business plan is provided, which would offer a brief idea about the business and the services the company will provide. The evaluation of the current environment of the chosen area would be conducted, which would help in getting the proper idea about the region where the business is going to be established initially. In addition, determination of competition and competitive nature of the industry is essential. Recognition and selection of targeted audience and market are essential as this will help in targeting the appropriate audience and being recognized by everyone. Additionally applying the principle of marketing in the proposed electric scooter business plan will help in acquiring the vital information, which will help in making the business plan more effective. Lastly, there would be a conclusion on the above-discussed areas, which will emphasize the significant opportunities which would be acquired from the business plan and the threats which can be faced by the business initially.
Introduction: The proposed electric scooter business plan is an idea of rental based EV scooters. The business will offer a short range of mobility solution to the public of the selected area of London on a rental basis. The company will be offering its service to the local people of the region by providing rental electric vehicles, which will have a fixed range of 20km, with speed limit 25km/hr. The scooters will be designated to a particular position from where it can be hired by the consumers. After finishing the ride, the consumer will be parking the scooter in the nearest rental scooter infrastructure. The main objective of the electric scooter business plan is to provide a short-range mobility solution to the customer to their valuable time while creating less pollution. In this era of globalization, where the demand for the sustainable yet eco-friendly product and services are much-appreciated creation of rental EV scooter will be a great initiative. In addition, the entrepreneur has immense knowledge regarding the electric vehicle and its benefits.
Therefore, it would be a successful initiative of opening and enterprise based on this idea. However, it is also observed that there is a market gap present in the area where the entrepreneur wants to open the company. It might happen that targeted customer is unaware of the services; therefore, the creation of awareness along with launching the services is also essential. The selected place where the business will initially establish its organizations is Mayfair in London. The main reason behind choosing this area is this is one of the most famous places in London. Along with that, the regions have both official areas and easygoing places. The area consists of churches, hotels, retail, museums and galleries, business and another vital place which attracts tourist as well as daily worker peoples. Therefore, this would be an ideal place to open the enterprise, as it will attract all type of consumers. The business report highlights the significant aspects and information which would be needed while assessing the enterprise.
Discussion : As mentioned in the study of Song et al., (2017), PESTEL analysis is a tool, which helps a marketer to study and scrutinize the macro environment of the particular region. The provided PESTEL analysis of the proposed electric scooter business plan will aid in getting the appropriate information for establishing the business in London.
The rental business service will face some of the competition, as there are already electric transports available for the people of the region. Electric motors, buses, train are very much common in London (Teng et al., 2016). Therefore, opening a new rental based EV scooter can face tough competition initially. The transport available in the region is also cheap. Nevertheless, the company can face competition in many different backgrounds. The direct competition of the company would be government-oriented transports, which are plying on the roads. One of the major competitors of the business would be cycled hire scheme of London. It is the most famous affordable and eco-friendly transportation system in the city. However, there are still some competitive advantages, which can be gained by the business. The hiring cycle, which is the main competitor of the business, is though affordable, however, requires effort from the consumer. The electric vehicles will be affordable as well as will require very less effort from the consumer. In addition, it will be the fastest way of reaching the desired destination in very fewer times. Therefore, these are the major competitive benefit, which would be availed by the business as compared to its major competitors.
Initially, the target market of the said electric scooter business plan will be people of Mayfair city. The stated place is chosen especially because of the population in that the areas, and for a reason, the city is famous for. The city is rich with office, official area, and other sightseeing areas. Therefore, it would be very much beneficial for the business to open its first outlet in this region. Therefore, all kind of people would be able to avail the services. The business would be able to target its audience in an effective way. Moreover, this will also be very much helpful for the consumer, as the rental EV scooter will assist them in reaching their desired place in very less time and in an affordable manner. Moreover, the office goers can rent it for reaching their nearby restaurant or client meeting in the fastest ways without paying much for the same. Moreover, it will also target the visitors of the region by providing them with maps and pamphlets of the region to visit their favourite places in affordable charges.
The essential principle of marketing comprises of Product, Price, Place and promotion that aid is preparing the marketing strategy of the electric scooter business plan (Harsono, 2016).
Product – The product that would be offered to the consumer would be a rental based EV scooters. The main aim of launching the said product is to render affordable yet eco-friendly transportation service to the consumer of London. The product will be launched for the targeted consumer of the selected region.
Price – The service is rental based. Therefore, the price of service will be based on the range of kilometres the electronic vehicle will be used. The price of the service will vary on the different variety of the electronic vehicle and on the time of the usage.
Place – The electric scooter business plan will be initially open on an offline basis in the selected area that is Mayfair city, London. The electric scooter business plan will have different parking areas created in the city where the electronic vehicle will be parked after the use. Primarily, the enterprise will have one main outlet and different parking lots.
Promotion – Promotion of the business would be done by adopting different means. Initially, the business enterprise can promote its electric scooter business plan through the newspaper, hoarding, pamphlets etc. In addition, the promotion of the business can be done through social media platform too (Nuseir et al., 2015), which would be very much effective. Creation of ads and websites regarding the electric scooter business plan will gain much attention. Additionally, giving a discount on the first ride to its consumer will also be an effective promoting idea.
Conclusion The above business report is based on the proposed electric scooter business plan that is rental based EV scooter, which would be initiated by the entrepreneur. The electric scooter business plan would be established in the Mayfair city of London. However, to establish a new business, it is very much necessary to get the appropriate idea and knowledge of the targeted areas. The PESTEL analysis is being conducted on the said electric scooter business plan, which gives the appropriate idea about the region and other important aspects. The PESTEL analysis highlighted the crucial part, which was very much essential for the entrepreneur to get an idea about. While assessing the PESTEL and knowing the market trend of the region, it is, being observed that the region is very much favourable accepts innovation and new technological aspects easily. Moreover, the people of the region appreciate this new and innovated technique, which make their life easier.
In addition, it's being observed that there is not much competition in this sector; therefore, it is an opportunity for the company. Nevertheless, there are certain threats, which are being observed in this work. The company might face competition in this field, as there are already electric transports available in the region. Moreover, it might happen that the company may lack in producing much of scooter because of the lack of electric motors, which is quite expensive. Nevertheless, the business will be established by evaluating all the crucial aspects beforehand. The main aim of any entrepreneur is to expand its business and create employment. Therefore, if the people of London will accept the electric scooter business plan, it will further open its branch and outlets in other places too. In addition, the businesses will also start operating online too. This would help in easy access to the services and help the business to grow and develop even more.
Reference list Dhingra, S., Ottaviano, G.I., Sampson, T. and Reenen, JV, 2016. The consequences of Brexit for UK trade and living standards.
Eisenberg, P., 2019. Financial Analysis of Primark Stores Ltd. with regard to a Stock Exchange Floatation (IPO). International Journal of Management, 7(1), pp.91-112.
Harsono, R., 2016. The Impact of Marketing Mix (4p's) on Customer Loyalty Towards Toyota Avanza. iBuss Management, 4(1).
Nuseir, M.T. and Madanat, H., 2015. 4Ps: A strategy to secure customers' loyalty via customer satisfaction. Electric scooter business plan International Journal of Marketing Studies, 7(4), p.78.
Sarwar, D., Ramachandran, M. and Hosseinian-Far, A., 2017, January. Disaster management system as an element of risk management for natural disaster systems using the PESTLE framework. In International Conference on Global Security, Safety, and Sustainability (pp. 191-204). Springer, Cham.
Song, J., Sun, Y. and Jin, L., 2017. PESTEL analysis of the development of the waste-to-energy incineration industry in China. Renewable and Sustainable Energy Reviews, 80, pp.276-289.
Teng, F., Aunedi, M. and Strbac, G., 2016. Benefits of flexibility from smart electrified transportation and heating in the future UK electricity system. Applied Energy, 167, pp.420-431.
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Bike Rental Business Plan
Bike rental businesses cater to individuals seeking bikes, such as tourists, commuters, students, and leisure riders. These enterprises can operate in various locations, but they are particularly popular in urban hubs, tourist hotspots, university campuses, and residential districts. The bike rental industry is an emerging sector attracting entrepreneurs who aim to meet the increasing demand for affordable and convenient transportation alternatives. A Bike Rental Business Plan is a pivotal component for such entrepreneurs.
Within this article, we will elaborate on the significance of a bike rental business plan, its necessity, and the process of crafting one. Furthermore, we will furnish you with a sample business plan template for bike rental that can serve as an inspiration for your own endeavor.
What is a Bike Rental Business Plan?
A bike rental business plan is a document that describes the goals, objectives, strategies, and projections for starting and operating a successful bike rental business. It provides entrepreneurs and investors with crucial information about your business, such as:
- The type of bike rental service you will offer
- The location of your bike rental business
- Your target customer segment
- Your rental rates
- Your marketing strategies
- Your organizational structure
- Your management team
- Your financial projections
- Your operational milestones
Crafting an extensively researched and meticulously detailed business plan is of paramount importance to steer your bike rental business towards success. This endeavor will facilitate the attraction of lenders, investors, and partners who can contribute to the growth of your enterprise while maintaining discretion.
Why Do We Need a Bike Rental Business Plan Sample?
Writing a business plan can be challenging, especially if you’re preparing it for the first time. It requires detailed research and consideration of many factors. A bike rental business plan sample can give you a better idea of what to include in your own plan.
A sample bike rental business plan can help you:
- Learn from the best practices of successful bike rental businesses.
- Avoid common mistakes in writing a business plan.
- Customize the sample plan to fit your specific needs.
If you’re seriously planning to start your own bike rental business, our team of experts at OGSCapital can help you. (Check our Car Rental Business Plan ) In the following sections, we share our sample bike rental business plan that you can use as a reference. This sample will help you save you time, effort, money and help you make informed decisions about your own business, and ensure that you are on the right track to success.
The executive summary of a business plan provides an overview of a bike rental business. It includes information about the services offered, the target market, the management team, the financials, and the key success factors. The summary also highlights the main objectives and goals of the business.
Here is the executive summary of a bike rental business called “Velocity Bikes”.
Velocity Bikes is a bike rental business that offers high-quality bikes for rent to customers in California. Velocity Bikes offers different types of bikes such as city bikes, premium bikes, electric bikes, and mountain bikes, as well as bike accessories like helmets, locks, baskets, lights, and maps. Velocity Bikes operates from a strategic location near Disneyland Park, one of the most popular tourist attractions in California where customers can easily access the bikes and enjoy the scenic routes and attractions.
Velocity Bikes will offer the following services to its customers:
- Bike Rental – Rent bikes for hourly, daily, weekly, or monthly periods. Velocity Bikes offer a variety of bikes, including city bikes, mountain bikes, electric bikes, premium bikes, and vintage bikes.
- Bike Maintenance and Repair – During your rental period, Velocity Bikes offer a nominal fee for bike maintenance service, which includes checking the brakes, tires, gears, chain, and lights. They will also provide roadside assistance in case of any breakdown or accident.
- Bike Tours – Take guided bike tours of California’s best sights and attractions with experienced and friendly guides who provide information and tips on local culture and history.
- Online Booking and Delivery – Book bikes online through Velocity Bikes’ website or mobile app. Choose to have the bikes delivered to your hotel or preferred location, or pick them up from the shop.
- Accessories and Gear – Optional accessories and gear are available for rent, such as helmets, gloves, jackets, panniers, locks, maps, and guides. A small fee is charged per accessory or gear per hour.
Velocity Bikes serves customers who want to explore California affordably and eco-friendly. Velocity Bikes targets the following customer segments:
- Tourists – Visitors who come to California for leisure or vacation are one of Velocity Bikes’ main customer segments.
- Commuters – Local residents who use bikes to get to work, school, or other places are another customer segment.
- Students – Young people who study at colleges or universities in California and need bikes for academic or recreational activities are also a target customer.
- Recreational riders – People who ride bikes for fitness or enjoyment purposes and need bikes that are suitable for different terrains and challenges are another target customer.
Velocity Bikes is owned and managed by Bailey Howell, who has 15 years of experience in the bike rental industry. Bailey is responsible for the overall strategy, operations, marketing, and finance of the business. He is supported by a team of 30 staff members who perform the following roles:
- Bike rental manager – Responsible for managing the bike rental operations, including booking, delivery, maintenance, and inventory.
- Bike tour guide – Responsible for leading the bike tours, providing information and tips to customers, and ensuring their safety and satisfaction.
- Bike mechanic – Responsible for repairing and servicing the bikes, as well as ensuring their quality and performance.
- Bike attendant – Responsible for assisting customers with their bike rental needs, such as choosing the right bike, fitting the accessories, and providing instructions and directions.
Velocity Bikes aims to achieve the following success factors in its bike rental business:
- Customer satisfaction – To provide high-quality bikes and services that meet or exceed the expectations of its customers.
- Competitive pricing – To offer competitive pricing that is affordable and attractive to its target market.
- Convenient location – Operates from a convenient location in California, where customers can easily access the bikes and enjoy the scenic routes and attractions.
- Marketing strategy – Implement an effective marketing strategy that includes online and offline channels, such as a website, social media, flyers, brochures, banners, and word-of-mouth.
Velocity Bikes expects to generate revenue from four main sources. The following table shows the projected revenue for the first three years of operation:
The main expenses for Velocity Bikes include rent, utilities, salaries, marketing, insurance, taxes, depreciation, and maintenance. The following table shows the projected expenses for the first three years of operation:
The following table shows the projected net income for the first three years of operation:
This section describes the key elements of your business concept, such as what is your bike rental business, who is your bike rental business, and what is your bike rental business history. (Check our Charter Bus Business Plan for better understanding)
Who is Velocity Bikes?
Velocity Bikes is a bike rental business in California that rents bikes to customers. Tourists rent bikes for a few hours to tour the neighborhood recreationally. College students and daily commuters also rent bikes for practical reasons. In addition to bike rentals, Velocity Bikes also offers bike delivery, bike tours, bike maintenance, and loyalty programs. These additional services meet or exceed the expectations of customers.
Velocity Bikes History
Velocity Bikes was founded in 2022 by Bailey Howell, who has a passion for bikes and 15 years of experience in the bike rental business. Bailey wanted to provide a memorable and enjoyable bike rental experience for customers.
The business started with 5 bikes and has since grown to 150 bikes and a larger store in the downtown area. Bailey is supported by a team of professional staff who perform various roles, such as bike rental manager, bike tour guide, bike mechanic, and bike attendant. The staff members are trained and skilled in their respective roles, and they share Bailey’s passion and vision for the business.
According to a report by Allied Market Research, the global bike rental market was valued at $2.1 billion in 2021, and is projected to reach $11.3 billion by 2031, growing at a CAGR of 18.5% from 2022 to 2031. The increase in bike rental industry is driven by several factors, such as:
- The booming tourism industry – The travel and tourism sector in the United States is expected to generate $190.4 billion in revenue in 2023. This is projected to grow at an annual rate of 3.17% from 2023 to 2027. By 2032, the sector is expected to make up 9.2% of the entire US economy. (Source – Statista )
- Rapid urbanization – By 2050, 87.4% of the US population is projected to live in urban areas. (Source – Statista )
- Rapid digitalization – The demand for digital transformation is expected to reach US$ 2.3 Trillion in 2032, exhibiting a growth rate of 14.2%. (Source – Factmr )
- Increasing adventure tourism – The global adventure tourism market was worth $366.7 billion in 2022. It is projected to reach $4.6 trillion by 2032, growing at a compound annual growth rate (CAGR) of 28.7% from 2023. (Source – Allied Market Research )
Demographic profile of target market.
The target market for Velocity Bikes consists of customers who are looking to rent a bike in California. The demographic profile of the target market is as follows:
- Age: 18 to 65 years old
- Gender: Male and female
- Income: Low to high income
- Education: High school to college degree
- Occupation: Students, professionals, workers, retirees
- Lifestyle: Active, adventurous, health-conscious, environmentally aware
Velocity Bikes segments its target market into three main customer segments based on their purpose and motivation for renting bikes.
- Tourists who visit California for leisure or vacation typically rent bikes for short-term durations, such as hourly or daily. They prefer city bikes or electric bikes that are easy and comfortable to ride.
- Residents who live in California typically rent bikes for long-term durations, such as weekly or monthly. They prefer premium bikes or mountain bikes.
- Students who study in California typically rent bikes for medium-term durations, such as daily or weekly. They prefer electric bikes or scooters that are fast and convenient.
Direct and indirect competitors.
Some of the direct competitors of Velocity Bikes are:
- Bounce – Bounce is a leading bike rental startup in the US, operating in 5 states including California. Its strengths include its large scale, low price, convenience, and use of technology. Its weaknesses include its dependence on scooters only, lack of customer service, and regulatory issues.
- Vogo – Vogo is a prominent bike rental startup in the US, operating in California and two other states. Its strengths include strategic partnerships, a customer loyalty program, and safety features. Its weaknesses include limited scale, high price, and operational challenges.
- Yuha – Yuha is a bike rental startup in the US that operates in 7 states, including California. Yuha’s strengths are its eco-friendly bikes, its focus on micro-mobility, and its social impact initiatives. Yuha’s weaknesses are its low speed, its limited range, and its availability in some areas.
Some of the indirect competitors of Velocity Bikes are:
- Public transportation – Public transportation includes buses, trains, metros, and taxis that provide mass transit services to customers.
- Private vehicles – Private vehicles include cars, bikes, and cycles that are owned by customers.
- Other modes of transportation – Walking, cycling, skating, and the use of innovative devices, such as hoverboards, segways, or e-scooters, are all other modes of transportation.
Velocity Bikes has the following competitive advantages over its competitors:
- Quality – Offering high-quality bikes that are well-maintained and serviced regularly.
- Variety – Offering a variety of bikes that suit different preferences and needs of its customers.
- Convenience – Operating from a convenient location that is close to tourist attractions.
- Customer service – Providing excellent customer service that is friendly, helpful, and responsive.
Velocity Bikes uses a variety of online and offline channels to promote its business.
- Website – Velocity Bikes has a user-friendly website that provides information about its services, prices, locations, testimonials, and contact details.
- Social media – Velocity Bikes has a strong social media presence on platforms such as Facebook, Instagram, Twitter, and YouTube.
- Flyers, brochures, banners – Velocity Bikes distributes flyers, brochures, and banners in strategic locations such as hotels, travel agencies, tourist organizations, campuses, and public places.
- Word-of-mouth – Velocity Bikes relies on word-of-mouth marketing to spread the word about its bike rental business.
Velocity Bikes offers affordable and attractive pricing to its target market. They offer flexible payment options, including cash, credit card, and online payment. The pricing of bike rental services is based on the type and duration of the rental. (Check our Air Charter Business Plan for better understanding)
The following table shows the pricing of bike rental services:
The following table shows the pricing of bike delivery and bike tour services:
Velocity Bikes operates its bike rental business using the following functions:
- Booking – Managing bookings from customers through the website, mobile app, or in-store.
- Delivery – Delivering bikes to customers who request delivery service.
- Maintenance – Repairing and servicing bikes to ensure their quality and performance.
- Inventory – Tracking the number and status of bikes and accessories in stock.
- Tours – Leading bike tours that cover the best sights and attractions in California.
Velocity Bikes has set the following milestones for its bike rental business:
- Launch the website and mobile app by March 2023.
- Acquire 150 bikes and accessories by May 2023.
- Hire 50 staff members by July 2023.
- Open the shop near Yosemite National Park by August 2023.
- Reach 20,000 customers by October 2023.
- Break even by December 2023.
Key revenue & costs.
The key revenue sources for Velocity Bikes are:
- Bike rental fees
- Bike tour fees
- Bike repair
- Accessories and Gear
The key costs for Velocity Bikes are:
Funding Requirements and Use of Funds
Velocity Bikes requires $100,000 of funding to expand its bike rental business. The funding will be used for:
- Purchasing 20 bikes and accessories
- Renting shop space near Yosemite National Park
- Hiring staff members
- Marketing the bike rental business
- Obtaining permits and licenses
- Paying insurance and taxes
Velocity Bikes plan to obtain funding from external sources, such as personal savings, bank loan, angel investor, or crowdfunding.
The financial projections for Velocity Bikes are based on the following key assumptions:
- The average occupancy rate of bikes is 70%
- The average rental duration of bikes is 4 hours
- The average number of participants per bike tour is 10
- The average length of bike tour is 3 hours
- The growth rate of revenue is 20% per year
- The growth rate of expenses is 10% per year
Sources of Funding for Bike Rental Business
- Bank loan – Apply for a loan from a financial institution that offers loans for small businesses by providing a detailed business plan, financial projections, and collateral to secure the loan.
- Angel investor – Find an individual or group of individuals who are willing to invest in the bike rental business in exchange for equity or ownership stake by pitching the business idea, market potential, and competitive advantage to the angel investor.
- Crowdfunding – Raise money from a large number of people through an online platform, such as Kickstarter or Indiegogo by creating a campaign Velocity Bikes and offer rewards or incentives to the backers who support your campaign.
OGSCapital: The Best Consulting Company for Your Bike Rental Business Plan
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We hope this sample rental bike business plan has helped you. It shows the structure and format of a professional business plan and gives you some ideas on how to write your own. To write a high-quality and effective bike rental business plan, you need professional help from experts. OGSCapital is a leading provider of individual solutions for existing small/medium businesses and start-up projects.
We have been helping businesses attract $2.7 billion in financing for over a decade. Our team of experts will create a custom business plan for you, tailored to your specific needs. We conduct market research, prepare financial projections, and provide strategic advice. We offer other services, such as business continuity plans, pitch decks, due diligence, ICO whitepapers, ICO consulting, confidential information memorandums, private placement memorandum, feasibility studies, and more.
Jakub Babkins is a senior consultant who specializes in writing bike rental business plans. He has a degree in economics from Harvard University and has worked as a financial analyst, investment banker, and management consultant for leading firms. He has written more than 100 successful business plans for clients in various industries. (For example, Helicopter Business Plan ) You can trust Jakub Babkins and other OGSCapital consultants to write a high-quality and effective bike rental business plan for you. They will work with you closely throughout the process and help you turn your dream into reality.
The bike rental business plan cost depends on the complexity and scope of your project. You can get a free quote from us by filling out an online form on our website. Don’t hesitate to contact us today and get started on your bike rental business plan. We are here to support you and help you succeed.
Frequently Asked Questions
1. What is the target market for bike rental business?
The target market for bike rental business is customers who want to explore their destination on two wheels, such as tourists, residents, students, etc.
2. What are the advantages of bike rental schemes?
The advantages of bike rental schemes are convenience, accessibility, cost-effectiveness, health, fitness, recreation, eco-friendliness, and employment.
Download Bike Rental Business Plan Sample in pdf
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Scooter Rental Business
Back to All Business Ideas
How to Start a Scooter Rental Business
Written by: Carolyn Young
Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Updated on May 16, 2023
$6,550 - $97,100
$84,000 - $210,000 p.a.
Time to build
0 – 6 months
$50,000 - $126,000 p.a.
- Decide if the Business Is Right for You
- Hone Your Idea
- Brainstorm a Scooter Rental Service Name
- Create a Scooter Rental Business Plan
- Register Your Business
- Register for Taxes
- Fund your Business
- Apply for Scooter Rental Business Licenses and Permits
- Open a Business Bank Account
- Get Business Insurance
- Prepare to Launch
- Build Your Team
- Run a Scooter Rental Business - Start Making Money!
Scooter Rental Business FAQs
Scooters have finally hit the big-time. Electric shared scooters have in recent years become a popular mode of urban transport around the globe. In fact, the global bike and scooter rental market is set to more than quadruple by 2027, placing it among the world’s fastest-growing industries.
You could start a scooter rental business either from a physical location in a tourist area or by developing an app for dockless e-scooters rented on a per-ride basis. Users simply unlock the scooter using the app and leave it where it is convenient. Either way, you can make good money and help people see and move about their city.
Before you get started, though, you’ll need to understand the ins and outs of starting a business. Luckily, this step-by-step guide has you covered with all the insights you need to launch a lucrative scooter rental business.
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Step 1: Decide if the Business Is Right for You
Pros and cons.
- Expanding Market – The scooter rental industry is growing by leaps and bounds
- Good Money – Make about $15 an hour per scooter
- Flexibility – Run the business from home if you start a scooter sharing business
- Crowded Market – Compete with established players like Lime
- Costly Maintenance – Scooters get damaged, and need regularly servicing
Scooter rental industry trends
Industry size and growth.
- Industry size and past growth – The global bike and scooter rental industry was worth $2.5 billion in 2019 after gaining much popularity during the previous five years.(( https://www.marketsandmarkets.com/Market-Reports/bike-scooter-rental-market-122654882.html ))
- Growth forecast – The global bike and scooter rental industry is projected to grow more than 400% by 2027 to reach $10.1 billion.
Trends and challenges
Trends in the scooter rental industry include:
- Environmental concerns about gas-guzzling vehicles, as well as the desire for convenience, are driving increased scooter rentals.
- More sustainable scooters are hitting the market, with San Francisco-based Lime leading the way with scooters that feature interchangeable, swappable batteries.
Challenges in the scooter rental industry include:
- E-scooters face vandalism, poor handling, and overuse and have a lifespan of just three months in some areas. Scooter replacement is almost constant.
- Large e-scooter firms are growing fast, getting millions in venture capital to expand and gain more market share, crowding out new entrants.
How much does it cost to start a scooter rental business?
Startup costs for a scooter rental business set up traditionally in a tourist location would cost about $9,500. Costs include the storefront rental and the purchase of five scooters. To start an e-scooter sharing business would cost at least $95,000 and could be much higher. The largest cost is the development of the app.
You’ll need a handful of items to successfully launch your scooter rental business, including:
- Battery chargers
How much can you earn from a scooter rental business?
Prices for scooter rental average about $15 per hour. Your profit margin after maintenance and overhead should be about 60%. This will assume you’ll start with a traditional scooter rental business.
In your first year or two, you could rent five scooters for four hours each per day, 280 days of the year, bringing in $84,000 in annual revenue. This would mean more than $50,000 in profit, assuming that 60% margin. As your business gains traction, you could add five more to your scooter fleet and rent them five hours per day. With annual revenue of $210,000, you’d make a fantastic profit of $126,000.
What barriers to entry are there?
There are a few barriers to entry for a scooter rental business. Your biggest challenges will be:
- Good high-traffic location in a tourist-friendly city
- The startup costs of an e-scooter sharing business
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Step 2: hone your idea.
Now that you know what’s involved in starting a scooter rental business, it’s a good idea to hone your concept in preparation to enter a competitive market.
Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.
Why? Identify an opportunity
Research scooter rental businesses in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a scooter rental business that offers scooter tours, or that also offers electric bikes.
You might consider targeting a niche market by specializing in a certain aspect of your industry, such as electric kick scooters or dockless scooters.
This could jumpstart your word-of-mouth marketing and attract clients right away.
What? Determine your products or services
In addition to scooter rental, you could offer scooter tours, the rental of electric bicycles, or even work your way up to larger electric vehicles.
How much should you charge for scooter rentals?
Scooter rental prices are generally about $.25 per minute which is $15 per hour. After costs, you should aim for a profit margin of about 60%.
Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.
Who? Identify your target market
Your target market will be broad and may include tourists. You should spread out your marketing to include sites like TikTok, Instagram, and Facebook.
Where? Choose your scooter rental location
You may need to rent out a small storefront to rent your scooters from and to store your scooters. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .
When choosing a commercial space, you may want to follow these rules of thumb:
- Central location accessible via public transport
- Ventilated and spacious, with good natural light
- Flexible lease that can be extended as your business grows
- Ready-to-use space with no major renovations or repairs needed
Step 3: Brainstorm a Scooter Rental Service Name
Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.
Here are some ideas for brainstorming your business name:
- Short, unique, and catchy names tend to stand out
- Names that are easy to say and spell tend to do better
- Name should be relevant to your product or service offerings
- Ask around — family, friends, colleagues, social media — for suggestions
- Including keywords, such as “scooter rentals” or “e-scooters”, boosts SEO
- Name should allow for expansion, for ex: “Ride and Glide” over “Business Scooters”
- Avoid location-based names that might hinder future expansion
- Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.
Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these.
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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.
Step 4: Create a Scooter Rental Business Plan
Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:
- Executive Summary : Brief overview of the entire business plan; should be written after the plan is complete.
- Business Overview : Overview of the company, vision, mission, ownership, and corporate goals.
- Product and Services : Describe your offerings in detail.
- Market Analysis : Assess market trends such as variations in demand and prospects for growth, and do a SWOT analysis .
- Competitive Analysis : Analyze main competitors, assessing their strengths and weaknesses, and create a list of the advantages of your services.
- Sales and Marketing : Examine your companies’ unique selling propositions (USPs) and develop sales, marketing, and promotional strategies.
- Management Team : Overview of management team, detailing their roles and professional background, along with a corporate hierarchy.
- Operations Plan : Your company’s operational plan includes procurement, office location, key assets and equipment, and other logistical details.
- Financial Plan : Three years of financial planning, including startup costs, break-even analysis, profit and loss estimates, cash flow, and balance sheet.
- Appendix : Include any additional financial or business-related documents.
If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.
Step 5: Register Your Business
Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.
Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!
Choose where to register your company
Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to scooter rental businesses.
If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.
Choose your business structure
Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your scooter rental business will shape your taxes, personal liability, and business registration requirements, so choose wisely.
Here are the main options:
- Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
- General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
- Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
- C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
- S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.
We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.
Form Your LLC
Choose Your State
We recommend ZenBusiness as the Best LLC Service for 2023
Step 6: Register for Taxes
The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.
Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.
The IRS website also offers a tax-payers checklist , and taxes can be filed online.
It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.
Step 7: Fund your Business
Securing financing is your next step and there are plenty of ways to raise capital:
- Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
- SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
- Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
- Venture capital: Venture capital investors take an ownership stake in exchange for funds, so keep in mind that you’d be sacrificing some control over your business. This is generally only available for businesses with high growth potential.
- Angel investors: Reach out to your entire network in search of people interested in investing in early-stage startups in exchange for a stake. Established angel investors are always looking for good opportunities.
- Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
- Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
- Personal: Self-fund your business via your savings or the sale of property or other assets.
Bank and SBA loans are probably the best option, other than friends and family, for funding a scooter rental business. If you have a unique and innovative concept and a great plan for an e-scooter sharing business that could really stand out in the market, you might be able to attract venture capital or angel investors. You’d have to show a way that you could compete with the existing big players.
Step 8: Apply for Scooter Rental Business Licenses and Permits
Starting a scooter rental business requires obtaining a number of licenses and permits from local, state, and federal governments.
You’ll want to get liability waivers that customers sign to absolve you from damages if injuries occur.
Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.
You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more.
You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.
This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.
If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.
Step 9: Open a Business Bank Account
Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .
Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your scooter rental business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.
Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.
Step 10: Get Business Insurance
Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.
Here are some types of insurance to consider:
- General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
- Business Property: Provides coverage for your equipment and supplies.
- Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
- Worker’s compensation: Provides compensation to employees injured on the job.
- Property: Covers your physical space, whether it is a cart, storefront, or office.
- Commercial auto: Protection for your company-owned vehicle.
- Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
- Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.
Step 11: Prepare to Launch
As opening day nears, prepare for launch by reviewing and improving some key elements of your business.
Essential software and tools
Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.
You may want to use industry-specific software, such as The Flybook , Bike Rental Manager , or RENTALL , to manage your scooter fleet inventory, reservations, and payments.
Develop your website
Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.
You can create your own website using services like WordPress , Wix , or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.
They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.
- Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
- If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.
Some of your business will come from the casual passerby or online visitors, but you should still invest in digital marketing! Getting the word out is especially important for new businesses, as it’ll boost customer and brand awareness.
Once your website is up and running, link it to your social media accounts and vice versa. Social media is a great tool for promoting your business because you can create engaging posts that advertise your products:
- Facebook: Great platform for paid advertising, allows you to target specific demographics, like men under age 50 in the Cleveland area.
- Instagram: Same benefits as Facebook but with different target audiences.
- Website: SEO will help your website appear closer to the top in relevant search results, a crucial element for increasing sales. Make sure that you optimize calls to action on your website. Experiment with text, color, size, and position of calls to action such as “Reserve Now.” This can sharply increase purchases.
- Google and Yelp: For businesses that rely on local clientele, getting listed on Yelp and Google My Business can be crucial to generating awareness and customers.
Take advantage of your website, social media presence, and real-life activities to increase awareness of your offerings and build your brand. Some suggestions include:
- Signage – Put up eye-catching signage at your store and website.
- Post a video – Post a video about your scooter rental. Use humor and maybe it will go viral!
- Start a blog – Start a blog and post regularly. Change up your content and share it on multiple sites.
- Paid ads on social media – Choose sites that will reach your target market and do targeted ads.
- Pay – per-click marketing – Use Google AdWords to perform better in searches. Research your keywords first.
- Influencer marketing – Pay people with large social media followings to promote your scooter rentals. You can find micro-influencers with smaller followings and lower rates.
Focus on USPs
Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your scooter rental business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.
Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your scooter rental business could be:
- Get around sustainably on our eco-friendly scooters
- Explore and have some fun on our electric scooters!
- Save the planet! Ditch your car and commute via scooter
You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a scooter rental business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in scooter rentals for years and can offer invaluable insight and industry connections.
The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in scooter rentals. You’ll probably generate new customers or find companies with which you could establish a partnership.
Step 12: Build Your Team
If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a scooter rental business include:
- Shop Clerks – rent scooters, customer service
- General Manager – scheduling, accounting
- Marketing Lead – SEO strategies, social media
At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.
Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.
Step 13: Run a Scooter Rental Business – Start Making Money!
Scooters are taking off, with the market set to expand four-fold by 2027. It’s a great time to seize the opportunity by starting a scooter rental business. It’s a fun business to get into, and you’ll be providing an eco-friendly means of travel for all sorts of people. It will take an investment, some hard work, and a great attitude, but you can ride this growth wave to serious success.
After reading this guide, you’ve got the business know-how, so now it’s time to start revving the engine of your new scooter rental business!
Yes, if you have a good-sized scooter fleet, you can make good money. You just need to choose your business model, have a good location, and offer a great service.
Generally, scooter rentals cost about $.25 a minute, or $15 an hour. Check scooter rental prices in your area to make sure you’re competitive.
To attract customers and market your scooter rental services, utilize online platforms and social media to create an online presence. Develop a user-friendly website that highlights your rental options, pricing, and booking process. Utilize search engine optimization techniques to improve online visibility.
Scooter sharing companies can be profitable, but profitability depends on various factors such as market demand, competition, operational costs, and effective management. Successful scooter sharing companies focus on maximizing utilization rates, implementing efficient maintenance and charging processes, and strategically expanding into markets with high demand.
Consider areas with high tourist traffic, popular tourist attractions, or densely populated urban areas with limited parking options. Evaluate local regulations and permit requirements for operating a scooter rental business. Conduct market research to understand the demand for scooter rentals and assess the level of competition in potential locations. Consider factors such as foot traffic, proximity to public transportation, and the availability of charging stations or maintenance facilities.
To ensure the safety and maintenance of the scooters in your rental fleet, implement regular inspection and maintenance schedules. Conduct thorough safety checks before renting out each scooter, including brakes, lights, tires, and other essential components. Train your staff to identify and address any potential safety issues promptly. Establish protocols for charging and battery management to ensure scooters are always in good working condition.
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- Business Type
- Business Plan for Scooter Rental Service
Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service small business in the UK.
When you have completed your Scooter Rental Service 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 Scooter Rental Service business startup.
If you are looking to limit your startup costs when starting up a Scooter Rental Service small business in the UK, this free business plan builder tool will be it.
Starting a Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service business and to apply for needed funding to cover your startup costs.
Step 2. Projecting your revenues/income
The Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service business and getting it off the ground is important to you.
No matter if you’re planning on applying for government funding for your Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service 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 Scooter Rental Service business is just one of your ideas, perhaps considering other options, here are some popular small business’s others have chosen to startup
- Electronics Manufacturer
- Modular Home Builder
- Subaru Dealer
- Water Softening Equipment Supplier
- Bowling Supply Shop
Scooter Rental Business Plan Template & Guidebook
Looking to get ahead in the world of scooter rental businesses? Whether you’re a startup or an established business, the #1 Scooter Rental Business Plan Template & Guidebook is here to give you the tools and strategies you need to succeed. From market analysis and financial planning to staffing, branding, and customer service strategies, this comprehensive guide provides entrepreneurs with the knowledge they need to create a thriving scooter rental business.
Get worry-free services and support to launch your business starting at $0 plus state fees.
- How to Start a Scooter Rental Business [11+ Steps]
How to Write a Scooter Rental Business Plan in 7 Steps:
1. describe the purpose of your scooter rental business..
The first step to writing your business plan is to describe the purpose of your scooter rental business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a scooter rental business:
Our mission at [Company Name], LLC is to provide convenient, modern, and affordable transportation solutions to our local community and tourists by providing a range of well-maintained rental scooters that are available for short-term and long-term rental in a safe and secure environment. We strive to ensure customer satisfaction by providing exceptional customer service, high-quality scooters, and competitive pricing.
2. Products & Services Offered by Your Scooter Rental Business.
The next step is to outline your products and services for your scooter rental business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
- What is my business?
- What are the products and/or services that I offer?
- Why am I offering these particular products and/or services?
- How do I differentiate myself from competitors with similar offerings?
- How will I market my products and services?
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
3. Build a Creative Marketing Stratgey.
If you don't have a marketing plan for your scooter rental business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your scooter rental business includes the following elements:
- Who is your target market?
- What do these customers have in common?
- How many of them are there?
- How can you best reach them with your message or product?
- Who are your current customers?
- Where did they come from (i.e., referrals)?
- How can their experience with your scooter rental business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?
Product or service description
- How does it work, what features does it have, and what are its benefits?
- Can anyone use this product or service regardless of age or gender?
- Can anyone visually see themselves using this product or service?
- How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?
- Which companies are competing with yours today (and why)?
- Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
- What specific advantages does each competitor offer over yours currently?
- Which marketing channel do you intend to leverage to attract new customers?
- What is your estimated marketing budget needed?
- What is the projected cost to acquire a new customer?
- How many of your customers do you instead will return?
Form an LLC in your state!
4. Write Your Operational Plan.
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
- The equipment and facilities needed
- Who will be involved in the business (employees, contractors)
- Financial requirements for each step
- Milestones & KPIs
- Location of your business
- Zoning & permits required for the business
What equipment, supplies, or permits are needed to run a scooter rental business?
To run a successful Scooter Rental business, you will need the following equipment and supplies:
- Scooters (gas or electric)
- Safety equipment (helmets, knee pads, elbow pads)
- Rental agreements
- Insurance policy for scooter rentals/leases
- Receipts/Invoices for customers
- Storage facility for the scooters
- Business licenses/permits from local authorities
5. Management & Organization of Your Scooter Rental Business.
The second part of your scooter rental business plan is to develop a management and organization section.
This section will cover all of the following:
- How many employees you need in order to run your scooter rental business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
- The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
- How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!
6. Scooter Rental Business Startup Expenses & Captial Needed.
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a scooter rental business varies based on many different variables, but below are a few different types of startup costs for a scooter rental business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your scooter rental business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
7. Financial Plan & Projections
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your scooter rental business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your scooter rental business plan:
- Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
- Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
- Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
- Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
- Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
- Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.
Frequently Asked Questions About Scooter Rental Business Plans:
Why do you need a business plan for a scooter rental business.
A business plan is an important tool for developing a successful scooter rental business. It can help you to outline the goals and objectives of your business, determine the required start-up costs, set pricing and marketing strategies, identify potential sources of funding, establish timelines for launching and managing the business, and much more. A well-thought-out business plan will help you make sure that your scooter rental business has the greatest chance of success.
Who should you ask for help with your scooter rental business plan?
When creating a business plan, it is important to seek assistance from professionals who understand the business and can help you create a well-structured plan. It is advisable to consult with a business consultant, accountant, lawyer or other professionals who specialize in small business management. Additionally, there are many online resources available to assist those wanting to start a business, such as guides for writing a business plan.
Can you write a scooter rental business plan yourself?
Yes, you can write a scooter rental business plan yourself. Writing a business plan can help you organize your ideas, determine the feasibility of your venture and create a roadmap for success. When writing a business plan for a scooter rental business, it’s important to research the competitive landscape, identify your target market and create a pricing strategy. Additionally, you should include an overview of potential costs and revenue, as well as detailed plans for the marketing and operations of your business.
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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.
Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.
From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.