That'd be far too fast for my comfort. I'm limit them to 20 mph tops. Can still kill themselves, but less likely to loose control and all that idiocy.
Starting a scooter rental business
- Thread starter Scattered
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That'd be far too fast for my comfort. I'm limit them to 20 mph tops. Can still kill themselves, but less likely to loose control and all that idiocy.
Alright. So I was wrong, it isn't technically a scooter place. What they do is rent pedal mopeds, which look exactly like a scooter but you can use pedals as well. They can get up to about 32km/hr and supposedly people love them. They are great for montreal with traffic and what not. As far as insurance goes, they are classified as bicycles so they don't need insurance. If you damage it they take it off of your visa. Thats pretty much it, the guys says it does well.
I agree with this, great idea.
Maybe you should see if you can start smaller then slowly ramp it up.
Ensure that theres business there before you plop all of your cash down and put all your eggs in one basket.
This will be esoteric.
Stop and think about experience.
Customers want experiences more than a transactional reward.
If you can find a sweet spot and market it right, you will actually create a niche, not just exploit an existing one.
Think of places that people would enjoy visiting on a scooter and try and build an association with that location.
Of course a lot of those places in Thailand make their profits on extorting tourists who get a small scratch on the bikes and the shop makes them pay to replace the entire part or a new paint job. Very profitable business model but probably can't get away with it in civilized countries.
So why don't you call some insurance companies right now and get a quote? don't be an all talk no action guy.
No action, please refer to your mother about my "action"
Of course I'm going to find out about the insurance. It is one of the most important aspects. Do you think it would be best to go through the same local people I have my homeowners and other insurance through or to branch out?
Of course I'm going to find out about the insurance. It is one of the most important aspects. Do you think it would be best to go through the same local people I have my homeowners and other insurance through or to branch out?
come on man. there are always those news reports you hear about where an innocent man goes to jail for the rest of his life too.
some guy could come and rob your scooter store, steal all your scooters at gun point too.
scooter store is a bigger risk with time and money than a website is. I think time is key.
Someone else who fails to understand risk management. It's not about the size of the risk, it has everything to do with your ability understand and control that risk.
You do not control Google or your traffic source, you can influence it at best. Therefore you are in a high risk business, is that seriously that hard to understand? Your business is fill of bottle necks, risks you can't control, and by the looks of things risks you've yet to fully understand. I'd much rather put $10,000 into a scooter business with someone who fully understands the risks involved, than invest $100 with someone who hasn't the clue what the fuck they are doing.
the approach is the same as for any other venture -- know all your potential costs inside & out (especially for the worst case scenarios), and realistically project revenues based on actual market research and taking ramp up/seasonal effects in to account. then do the math. figure out your return on capital & time... and if its not the absolute best return you can find, don't do it.
the only situation where the above process doesn't apply is when you're talking about doing something you love, that you'd do for free, that is more a passion than a biz. i'm gonna go out on a limb & guess scooter renting isn't your passion, so only do it if its the best biz option you can find.
the only situation where the above process doesn't apply is when you're talking about doing something you love, that you'd do for free, that is more a passion than a biz. i'm gonna go out on a limb & guess scooter renting isn't your passion, so only do it if its the best biz option you can find.
This. Not sure if Key West is considered civilized or not but you would be hard press to find more scooter rental density in a 2 x 4 mile area. You can do a top end on a typical 50cc 2 stroke in less than 30 mins for cheap. BUT many of those places are also dealers. Which means the parts they use internally are not subject to the typical 600% markup. This can make a huge difference to your bottom line over the course of a year. Also what geomark said. On the island there is a saying that the money is not in the rental but the repairs. The locals give odds as the tourist leaves the bar on whether he goes down or not. Even if the rental company is legit, people will drop the scooters and if you don't keep them pretty it's hard to rent them and more difficult to point out new damage. If you can't buy your parts and plastics at wholesale and your competitor can you will be at a disadvantage.