How to Start a Bicycle Rental Business
A bicycle rental business is most compatible with places witnessing high tourism. Many travelers and tourists hire bicycles to enjoy a ride in and around the place for a number of hours. Even in places like beaches and parks riding a bike is a very adored activity by many tourists.
Entrepreneurs who are not that far away from a beach or any other tourist destination should consider there running a bicycle rental shop. Here is a comprehensive guide that outlines every important step for starting a bicycle rental business.
1. Before you startup
Get a business license by submitting an application form to your regional transport authority. You may also need a Service Tax registration provided after a year your bike rental services generate more than Rupees 10 Lakh annually. Online registration is easily available.
Look for renting a shop which is located somewhere near to a tourist destination. The shop should be having to suffice premises for putting up your cycle racks. If possible, do prepare a business plan and learn the competition you will be facing there in a bicycle rental business.
2. Begin doing
Buy and showcase a fleet of bicycles ( from 10 – 20 ) to visitors who will be passing by your shop. Also, purchase a few racks to ensure secured parking of your cycles. You can also buy second-hand bicycles but you will need to make them look new attractive to tourists.
Much of your startup costs will be needed for buying cycles, helmets, safety equipment, and cycle racks. A small amount will go for maintenance and other utilizes.
Sustaining bodily injuries for a tourist is possible when riding a bicycle and what you need to do is to buy an insurance policy to help your bike rental business stay unharmed.
3. Get promoted
Put up glamorous signage on the front side to make tourist who passes by rent bicycles at your shop. Promote your bike rental business on social media as well.