Bike Rental and Parking Station

It is important to do all that can be done to save the environment. Several ways in which this can be done are walking, riding the bike, using public transportation or carpooling. However, not everyone can own a bicycle- having a place to rent a bike and parking station nearby to them would help in the process.

Who is the Target Audience of this concept?

The target audience is people who have an interest in saving the environment but cannot have a bike of their own. There may be no storage for the bike in a small apartment or no parking outside of the building for the bike. Renting a bike would also appeal to those who have not ridden one for a very long time and might be concerned that they would not be able to ride one.

What would the start up costs include?

The start up costs for a bike rental and parking station would include, purchase price of several bikes (if you buy about 20 bikes - cost would be around $300 or so for each), repair kits and spare parts, (especially tires) and the parking station area itself. You could also consider getting used bikes, however your maintenance costs will increase. To give you a rough total estimate, the cost could be around $7,500-$12,000.

What are the risks?

Renting a bike may seem more expensive than buying one, which may deter people from renting a bike. Also, bikes must be kept in good condition so they do not break down frequently. The fewer bikes that are rented out, the less money you will be bringing in. If you are concerned about breaking even, add up the monthly expenses, divide by the number of days and remember that you must bring in rentals of that total to be break even.

Competitors - who are they?

Competition in this field would include others who are using the same business model and concept. Other competition would come from bike shops who may allow for "trial" usages of bikes before they are purchased. A final competitor would be those who own furniture businesses who often do include bicycles in their programs.

What is the market size/market potential?

In a large, urban area the market size is limitless. However, the smaller the area, the smaller the market size is likely to be. Because sometimes mass transportation may be crowded, loud or not feasible for your own particular scheduling, there sometimes has to be alternatives public transportation.

Do you need a license or registration for this business?

With the exception of a business license issued from the city in which you are working, there should be no other licensing requirements for this business.

Green Entrepreneurship Resources
• *75 Green Businesses You Can Start to Make Money and Make A Difference
• *Finding the Sweet Spot: The Natural Entrepreneur's Guide to Responsible, Sustainable, Joyful Work
• *101 Ways to Turn Your Business Green: The Business Guide to Eco-Friendly Profits
• *Start Your Own Green Business (Start Your Own...)
• *Global Warming Is Good for Business: How Savvy Entrepreneurs, Large Corporations, and Others are Making Money While Saving the Planet
• *The Plot to Save the Planet: How Visionary Entrepreneurs and Corporate Titans Are Creating Real Solutions to Global Warming
• *Starting Green: An Ecopreneur's Guide to Starting a Green Business from Business Plans to Profits