Have you ever thought about starting an ebike rental business? Did you know that within one Summer or less every ebike could have fully repaid the initial investment?
When it comes to popularity, Ebikes have really taken the world by storm. It seems like overnight these electric bikes have become one of the most highly sought after mode of transportation. These bikes can be found in almost all the major cities of the world. They are a great way to get around and they provide many different benefits. But there is another benefit that these eBikes can offer that you might not have thought about.
Some very smart business-minded people are taking full advantage of the popularity of Ebikes by starting their own rental companies, and so can you! While some people living in the city will have their own Ebikes, others that are visiting will not. This will create an opportunity for you to earn some serious money by renting out electric bikes. One of the best ways to tour a city is on the back of an Ebike. Many tourists will jump at the chance of renting one from someone like you. But before you can jump into the Ebike rental market, there are some things you will need to consider. Below we have taken the time to build a comprehensive list of things that you will need to know.
First and foremost, you will need to consider your upfront startup costs. These will be the main items you will need to get the ball rolling. The first thing you will need to buy is, of course, Ebikes. The price of an average high-quality Ebike is around $1,500 to $3,000 depending on the models you choose. As you can see, Ebikes are highly affordable and since they will be your major investment, the cost of starting up your own company will be minimal. Compared to opening other types of rental businesses such as a car rental company, an Ebike rental business can be started on a small budget. So if you choose to start off with 10 Ebikes, you would only need to potentially raise $15,000 compared to hundreds of thousands for other types of businesses. However, you can always start out with just a few bikes and scale your company as the demand for your services grows.
Now we should think about other upfront costs that you may possibly run into. Now that we have learned about the main costs, let's focus on some of the other costs that you will face.
Here comes the good part! The potential profits you will make off each electric bike will be determined by the amount per hour in rental fees. Rental fees will vary from city to city but the average price of renting an Ebike is around $10 in the United States. In some European cities, the rental fees may be higher or lower depending on the location. But for this example, we are going with the base fee of $10 per hour. Below we will break down the rental fee and compare it with the initial cost of purchasing one Ebike.
As you can see, it won't take you long to get the money back you invested and to start making a profit. While this all depends on the number of people renting your Ebikes and the number of hours they ride, it isn't hard to see the potential here.
Before you start an Ebike rental company or any business for that matter, you will need to do your homework. Doing deep research will give you the knowledge you need to build your company the right way. There are quite a few things you will need to research before making any large investments in your new company.
While we have talked a little about marketing your rental company already, it's time to take a deeper look at this important subject. Marketing is a vital part of any business and without it you won't have very many customers. Below we are going to go over some ways that you can successfully promote your Ebike rental company.
Electric bikes are the future of hunting. Its capacity to tread challenging terrains while stealthily moving into any prey makes it an indispensable tool in a hunter’s arsenal.
In any hunt, resources are limited. Nevertheless, this is a challenge hunters need to continuously overcome to complete their expedition. The farther they go, the faster their resources deplete. This includes their physical stamina to carry all equipment and stay out longer. E-bikes have since then bridged this gap ever since it was used in hunting a few years back.
Electric bikes have provided that extra boost needed in successfully finishing a hunt. Whether it’s in a remote location or an uphill climb, using e-bikes increases the success rate in hunting. For hunters who are injured or those with limited mobility, this completely changes the game for them. Whether they’re a beginner or a professional, hunters are definitely taking interest in the advantages e-bikes offer.
Hunting outfitters should be able to meet this demand. E-bikes have increasingly become more popular especially as the world tries to be more environmentally friendly too. However, choosing which e-bikes to purchase for your business could be tricky.
Traditionally, people pick the latest, top-of-the-line models for their business. That’s good if you have the budget but if you don’t, it’s better to educate yourself first with the basics. To make it easier for you, here are our five tips on renting electric hunting bikes.
Identify the e-bikes you need.
First off, you need to decide on the type of e-bikes you’ll buy. An e-bike can be categorized into three -- Class 1, 2, and 3. Most hunting e-bikes fall into the Class-2 category which features throttle and pedal assistance perfect for challenging terrains.
Here are some questions you can ask yourself. Where will you use it? How would you classify the terrains in your trips? Is it moderate or rough? Does it involve hill climbing? These are some of the basic questions you need to answer before deciding on a particular model.
There are several types of class-2 electric hunting bikes available out there. Even if you have the class sorted out, some specs and features still vary. Knowing where you’ll use your e-bike is a great first step in choosing the e-bikes to buy.
Choose e-bike models that are aligned with your business.
If you design hunting tips, it’s best to pick e-bikes that are best-suited to the terrains in your routes. Since you know which spots might be trickier, offering an e-bike that can overcome these areas will be easier.
For example, if your trail involves a lot of hill climbing, it’s best to choose an e-bike that can withstand the climb. It should be able to carry the weight of the hunter and the equipment without being too heavy itself. The bike should still be light enough to carry around.
E-bikes can also be an attractive offer to your customers. As you explain the overview of the trip to them, you can also share how these e-bikes can come in handy. It can be a special add-on or even a requirement they need to fulfill to get on the trip.
Know the trends.
If you don’t offer guided trips, sticking to the popular types of e-bikes is your best shot. There are different specs you need to consider at this stage. No matter what, you need to have an e-bike with a powerful motor. Hunters need to easily navigate through various tracks during expeditions and having a reliable motor is a plus.
One search on the Internet and you can find yourself on pages that rank the most popular e-bikes of the year. Some are even classified based on your budget and where you’ll use them. Going through well-known brands like Ranger, Quietkat, and Backou can give you a good idea of which specs to look out for.
Pick the best supplier out there.
If you already have the model ironed out, it’s time to decide the shop where you’ll buy them. Some e-bike sellers offer packages and discounts that you should take advantage of.
It never hurts to conduct a quick background check on your preferred shop. This is not only reserved for the types of e-bikes they sell but also the service they provide. To get your money’s worth, make sure you pick a registered and legitimate shop. This means they have a business license to operate and they have all the necessary documents to sell quality e-bikes.
Take note of the products’ warranty and if they have a nearby service center that you can turn to in case an issue arises. eBike Generation is a good reference in choosing the hunting e-bike that can cater to all your needs. They have a variety of models and services that could be an excellent starting point for your e-bike rental services.
Establish your business model.
Aside from the basics, you also need to know how to deliver a rental service. Will renting e-bikes be optional in your guided trips? How many hours can you rent out your e-bikes? Will your supply of e-bikes be enough?
These are questions that’ll help you determine the best business model for your shop. At the end of the day, you need to make a profit out of it. E-bikes are great investments but it comes with a hefty price tag too.
Aside from the quality, you also need to identify the quantity. How many e-bikes will you buy? The simplest answer to this question is “It depends.” It depends on the scale of your business and how much you’re willing to invest in e-bikes.
While this may seem daunting at first, it can also open up new opportunities for your business. Considering the features of e-bikes, you can plan out new expeditions without worrying about time and distance. You can expand your hunting trips and some of your available supplies may come in handy too.
E-bikes have the potential to bring you the best results. You only have to be wise enough to know which model to buy and what types of services you are willing to offer. At the end of the day, e-bikes have already become a trend and it’s here to stay.
Now that you know more about how to start an Ebike rental service, it is time for some action. After you have done your homework and put in the time to learn your target audience, it's time to make a move!
It is time to commit to your new company and make a few major purchases. A great place to start and getting your feet wet is by buying a few Ebikes to get your company started and eBike Generation can offer huge savings on ebike purchases to reduce that risk even further by offering a bulk discount.
Additional resources to help you choose the right eBike for the job can be found in this blog post, Top 7 Fat Tire eBikes for 2019.
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