Install stations at the corner of the streets, so that people coming from multiple directions can get the sight of the e-scooters. Possibly it will be safe to submit that the electric bike hire shops (especially those who are also into the sales and servicing of bikes) have a wide range of customers; every individual and corporate organization (cyclist clubs) who own bikes would at one point or the other call for repair and replacement of parts. - Commercial eBikes are a must for your venture. Here is a brief recap: If you are planning on taking the plunge we wish you the best of luck. In the meantime, feel free to download our Coruscate Guide to Project Happiness! stream In the bid to establishing Tim Collins® Electric Bike Hire Shop, these are the key areas where we will spend our startup capital; We would need an estimate of $450,000 to successfully set up our electric bike hire shop in Long Beach – California. Scale your taxi hailing services We are even allowing some retailers to license our brand name, and open their own Really Good Ebikes Demo Store. The primary expenses of an e-bike business are usually staff, rent, maintenance and repairs, and utilities. We will ensure that we get our customers involved in the selection of electric bike brands that will be in our shops and also when making some business decisions. No establishment can boast of having the lion share of the available market in this industry. As the exclusive dealer for four big manufacturers, the company also markets to the surrounding population of over 100,000 people in the Quad Cities area, which includes three other colleges. The primary market is the university population, which has a regular turnover of 25%. E-scooters are the most worthwhile and eco-friendly solution to the transportation industry. For example, are they offering guided tours? The industry is responsible for the employment of over 84,282 people. The remainder of the funding will come in the form of an SBA loan, originated from a local bank. In the United States, depending on local laws, many electric bikes (e.g., pedelecs) are legally classified as bikes rather than mopeds or motorcycles, so they are not subject to the more stringent laws regarding their certification and operation, unlike the more powerful two-wheelers which are often classed as electric motorcycles. You can read up about Google's Adwords local program. In this section of the business plan there is a business strategy to position the company within its target market. Ride On Bikes will rely heavily on its location to attract university students. All Rights Reserved. Create a business plan to start your new entertainment production company. Related: Business Plan Format Guide. This business plan is being prepared for presentation to Metroburg Business Bank, and to the store’s major suppliers of new bicycles, accessories, and parts. When you are first starting out in your eBike rental business it will make sense to set aside a budget for advertising in the beginning. in Business Administration from University of Southern Maine – Portland, with over 3 years’ experience in the bike dealership and repair shops industry, working for some of the leading brand in the United States. You can check out, You will definitely want to set up a website. Our electric bike hire shop is located in a corner piece property on a busy road directly opposite one of the largest residential estates and close to the largest park in Long Beach – California. Commuters and the government comprehend the urgency to reduce air pollution which comes from the car. When things start to work and you can see what your customers really want, then you can expand and grow - the only limit with be where to store all your eBikes. There are plenty of ways to get creative with this approach. Coruscate Solutions is among the few e-scooter app development companies which provide the IoT integrated smart card payment option in the e-scooter app. However, these technologies have not been implemented on a large scale and may cost more to operate than smart dock technology. If you have made up your mind to start a business, it is necessary for you to write your business plan. In addition to bike sales, the store has a full line of accessories, apparel and parts. A Sample Electric Bike Hire Business Plan Template. To make your marketing campaign more fruitful, divide it into two parts. An aggressive marketing strategy will be employed that will leverage the location of Ride On Bikes and the university students who are most interested in biking. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources. There are a few ways to approach this. Forms for this are readily available online for free. from SEMrush to help you understand how you can optimize your results in search engines and other local online resources. Additionally, Ride On Bikes is very active in the bicycling community and offers weekly group rides and community-building activities. Includes market analysis, strategy, more. Internal marketing puts more emphasis on educating staff, city officials and different government departments like the transportation department and the environmental department. Electric bike rentals have soared in popularity in recent years and are almost everywhere you look - at crowded beach towns, in mountain resort communities, and in many other locations where local attraction and tour operators are present. The mobile app is the nervous system of the e-scooter sharing business. We have been able to lease a facility that is big enough to fit into the design of the kind of standard electric bike hire shop that we intend launching and the facility is located in a corner piece facility close to one of the largest parks in Long Beach – California. Below are two main points to consider: If you are serious about your business you should not take any chances buying products that are not suited for your use. Ensure that our we position our banners and billboards in strategic positions all around Long Beach – California, Distribute our fliers and handbills in target areas in and around our neighborhood, Advertise our electric bike hire shop business in our official website and employ strategies that will help us pull traffic to the site, Brand all our electric bikes, official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals, Payment via credit cards / Point of Sale Machines, The total fee for registering the business in the Unites States of America –, Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) –, Marketing promotion expenses for the grand opening of Tim Collins® Electric Bike Hire Shop in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of, The cost for hiring Business Consultant –, Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium –, Cost for payment of rent for 12 months at $1.76 per square feet in the total amount of, Cost for shop remodeling (construction of racks and shelves) –, Other start-up expenses including stationery (, Operational cost for the first 3 months (salaries of employees, payments of bills et al) –, The cost for start-up inventory (stocking with a wide range of electric bikes, electric bike spare parts and accessories from different brands and bike repair tool box) –, Cost for store equipment (cash register, security, ventilation, signage) –. While this form of transportation has been popular with millions of riders in Europe and China for years, they’ve now gained traction in the United States too. The students and the shop will work together on student riding programs and events.