STARTING A SURREY RENTAL BUSINESS
A fun and low risk start up!
Surrey bike rentals can be seen in all kinds of applications, on a farm, boardwalk, vineyard, tailgate party, or communities. The surrey bike is unique because it increases the fun by keeping the whole group of friends or family together while enjoying the activity and scenery. It can be a very profitable business model and we can help you get started or grow your existing rental business! You can even finance your purchase and start your business with very little upfront investment! The key is to have a location in mind where there is already foot traffic in place.
Location, Location, Location
This is the key
High traffic areas with lots of visibility and foot traffic. You also want paved roads, bike paths or trails that are accessible. A great location will require little to no marketing expense. Tourist areas, boardwalks, camp grounds and parks are all great examples.
Keep in mind the season and weather of your locality. Northern climates will often have a shorter season and tourist areas can usually demand higher hourly rental rates.
The location of your rental business will most likely be the make or break decision.
If you are unsure, then start off small with just a couple of bikes to see what the demand is. This will minimize your risk and investment. You can always sell your bikes and recoup most or all of your investment if your location is not justifying the operation.
Rental Business Basics/Tips
Plan Ahead
Once you have you location established, check with local laws and regulations to ensure you can operate. Find a secure storage area out of the weather for overnight or bad weather days. A storage unit is often a low cost option.
Establish your rates and promote to other local business or hotels in the area.
We recommend the square credit card reader. It is free to order and set up and the fees are minimal. This is a great option so that you can accept credit cards.
Make sure you have a rental agreement that covers you for liability and damage and have all customers sign before they ride.
If its a slow day and someone walks away, offer them half price or 20 min free. The best advertising is having your bikes out being ridden for others to see!
Very low start up costs
You can finance your fleet!
We have partnered with Square Capital so that you can purchase your bikes with zero down and put them to work immediately! Start earning revenue right away and cover the costs of your bikes!
Other Start up cost may include:
Business license $50
Insurance $600
Signage $150
Storage $150
*Note these are estimates based on quoted information.
Liability Insurance can often be paid in monthly installments and depending on your location, signage and storage costs may not be necessary.
Example shows a revenue projection for a 2 bike business and a 6 bike business with a 5 month and 7 month operating season. Hourly rates can vary based on location. We've seen as high as $50 an hour. Results will vary greatly depending on your location and the amount of traffic//customers.
Note: The above numbers are an illustrative example only and not a guarantee or projection of Revenue
