The automobile domain in a country like India is a good instance to assess a business that has evolved in the last few years. One such instance is that of a Bike Rental Business. Outsiders and other guests can hire bikes from organizations that offer this service. There are many websites and platforms specifically designed for the purpose of renting bikes, one of which is vogo, for renting scooter and bikes in Bangalore.
Bicycles are also being used to discover the neighborhood regions. Hence, commencing with a bike renting business as a company might be immensely lucrative if operated correctly. In this guide, you will learn how to start or take help of a bike rental business such as rental riders for motorcycle rental and much more in India.
Bike rental businesses offer bikes to customers who occasionally, but not regularly, are tourists. Generally, bikes are rented for some hours to wander around the surrounding areas recreationally. Also, college-going students might become their customers by being interested in this activity. Furthermore, you can go ahead with availing bike rental service using bike dekho, which lets you view various bike models, compare bikes, go thorough several reviews, etc.
Documents Required To Begin A Bike Rental Business –
- Photos of shareholders or proprietors or directors
- Residential proof
- Rental agreement or NOC from the landlord in case the business area is leased
Chronological Procedure to Commence Bike Rental Business:
- Make a Unique Bike Rental Business Strategy
- Get to know about the target audience and rivals
- Procure compulsory registrations to begin a bike rental business
- Conduct marketing research and other related analysis
- Determine profitability and maintain the records
Each business needs correct planning. Hence, the initial step to begin your bike rental business is to have a researched business plan. The business plan, along with the project report, can be tremendously helpful for numerous reasons:
- Getting business loan
- Determining company type
- Getting the correct location
- Knowing about the target audience and establishing goals
- Get compulsory registrations and licenses
Want to rent a car with an affordable brand that offers self drive services and bikes for rent across the country, then drivezy can be the correct choice for you, which is a virtual self-rental platform giving out bikes and cars.
Also, onn bikes is here to make people’s lives easier by simplifying mobility with their smart, convenient, affordable and micro-mobility solutions.
Users can get to experience a very secure, happy, and flexible commutations services using freedo rentals which offers a specialized range of services about self-driving two-wheelers on a rental basis.
There are few compulsory licenses and registrations for each business to function legally in India. The mandatory and advantageous licenses are mentioned below:
- PF Registration
- GST Registration
- ESI Registration
- Shop Establishment Registration
- Adhering to the Bike Renting Scheme, 1997, and State Government Laws
Conclusion:
A bike rental business is undoubtedly one of the most profitable business ventures conducted widely at places with a solid tourism domain. The startup costs for establishing a bike rental shop are affordable and modest, and you would not need many people to establish the company and get it going.
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