Read this article before you start! Thinking about opening a motorcycle and motor scooter rental business? We tell you what you need to know to get started. Motorcycle and Scooter Rentals Many entrepreneurs have done well by starting a motorcycle rental business.
This is a market you can serve. Then there are ardent motorcyclists from far away who happen to be visiting the city you will be operating in, and who, too, might want a ride if they can get it. This is yet another market you can serve. How to Start a Motorcycle Rental Business Acquire in-depth knowledge of motorcycle maintenance and repair.
This might seem too obvious to state and superfluous if you are a long-time motorcycle user. But the truth of the matter is that you will be in the motorcycle business as a provider this time, and you need to know all the ins and outs of the business if you are to be successful.
This includes knowing or at least having a good idea about things you would previously have just left to the mechanic. With the wealth of information the Internet has brought to your fingertips, getting in-depth information on motorcycles, complete with the finest nuances should not be really hard—if you have the drive.
Develop a business plan. The process of developing a business plan will bring you face to face with various facets of the business you would have otherwise ignored. At the very least, the figures and facts you will have to consider in making such a business plan will put into great detail the reality of just how much you will have to put into the business and what you can reasonably expect in return from it.
The business plan should also serve as your blueprint when you get to rolling out the business. Obtain financing for the business. This might involve approaching a financier like your bank or another financier with the business plan you developed in step 2, and having them lend you the money you need to set up your operation.
Even if you provide the financing for the business yourself, however, you still need to view yourself as a lender to the business, and make an objective decision—based on the figures and facts in the business plan you developed in step 2—as to whether it is something you would finance.
The type of motorcycles you go for will depend on how much money you have to put into the venture, how you want to operate the business as per the business plan from step 2 and so on.
Shop far and wide though, and ensure that the machine you put your money into is the best you can possibly get for the price. As it turns out, motorcycle prices can vary greatly, even between two vendors in the same city. Acquire other business support equipment.
In addition to the motorcycles themselves, you will also have to acquire other equipment you need for the business, including helmets that you provide to the riders if these are not sold with the motorcycles as well as basic garage equipment for the maintenance of the motorcycles.
You will also have to get office equipment for the facility from which you will be running the motorcycle rental business. Develop a viable operations system.
This should address operating hours for the business, a maintenance schedule for the motorcycles to which you should religiously adhereas well as risk management and insurance measures given that the risk of someone renting a motorcycle and then stealing it is very real.
You need to think about legal, insurance and liability issues in order to protect your business from the variety of risks that could impact any business. It is important to become familiar with state and local regulations, as well as the agreements that customers sign when they rent that would waive you from any liability.University Mopeds mopeds rental business plan executive summary.
University Mopeds will rent mopeds to university students, and anyone else who has a need for efficient, around-town transportation/5(12). Free Services Motorcycle Rental Sample Business Plan for Motorcycle Rental - Business Plan # Starting a motorcycle rental business can be an ideal long-term business venture.
Providing motorcycle rental and related services to tourists and other visitors can be a lucrative business if you plan intelligently. GET motorcycle rental motorcycle rental LICENSING.
Whether you want to know how to start you own business, how to get a business license, how to get a sellers permit, how to get a tax ID number or how to obtain permits and tax IDs for your business, this site will help you set up, obtain or register your small new business whether a store, online o.
Properly set up and managed, a motorcycle rental business can be a highly profitable venture. Many people want to enjoy a ride on a fast two-wheeler, but don't want the hassle of owning and maintaining their own motorcycle.
This is a market you can serve. Then there are ardent motorcyclists from far away who. The business plan consists of a narrative (body) and financial worksheets.
Work through the sections in any order that you want, except for the Executive Summary, which should be done last.