Tips for getting started in a motorcycle rental business

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You can share your passion of motorcycles with others while you make money.

Background Information about the motorcycle rental business

Motorcycles are a fun way for anyone to experience the freedom of the road. Not everyone has the means to have their own motorcycle, however, and this makes those people interested in occasional motorcycle rentals. A motorcycle rental business has a number of options when first beginning and these options should be explored fully.

Pros of the motorcycle rental business

If you own the Motorcycles, You can rent same bike over and over again, once you have paid for the bike then the rent subtract expenses is profit.

You can expand the businesses to renting out ATV’s, snowmobile and related vehicles and accessories.

You can become a Franchise Business with a company like Eagle Rider

Cons of Running a motorcycle rental business

If anything happens to any of the motorcycles, you will be held responsible. Unless you have the proper insurance.
You have to be careful that all of the motorcycles are constantly in top shape and any repairs that might be needed will happen immediately.

People can also be ignorant and mishandle the bikes and you may have to deal with disrespectful customers.
If you live in area that gets a lot of winter, you can only rent your motorcycles in good weather.

Licensing or Special Requirements for a motorcycle rental business :

You will need to be licensed to be allowed to rent the motorcycles out to people as well as having all of the paperwork in order which identifies you as the owner of all of the motorcycles. If you do not own the bikes you rent out, you will need to make sure to have all of the appropriate paperwork that gives you permission to rent those motorcycles out.

You will also want to make sure you have the proper insurance when renting out the bikes.

Getting Started in the motorcycle rental business :

You can begin a motorcycle renting business either by purchasing a fleet of motorcycles that you will own and care for and renting those out, or by partnering with a local owner of a motorcycle renting shop and getting permission to rent out their bikes. This is not always common or possible, however, so you should plan on renting your own motorcycles out.

Minimum Start up Cost:

This is depending on how many motorcycles you start out with and what models they may be. You will want to make sure that you have motorcycles in good condition and you will also want to make sure that you have enough supplies to keep them in that good condition.

Motorcycles can cost anywhere from $5,000 to $25,000, so depending on the type of bike you purchase, your cost can vary dramatically. If you start a very small business, you still might need at least $30,000 to get your business up and running.

Minimum Start up Equipment:

Besides the motorcycles themselves, you will want to have a computer to keep track of all of the paperwork that goes along with renting motorcycles as well as the machinery to process credit card payments. You will want to have enough oil, filters, extra chains, and any other type of equipment which goes into motorcycle maintenance.

Optional or Advanced Equipment:

Many people may not have their own helmets and you can choose to rent helmets out to them as well. You can add additional perks and special insurance to the people renting your motorcycles, giving them more options when it comes to their motorcycle rental.

Hours of Operation:

You can set your own hours for this business although it is recommended that you are open during normal business hours. This gives people the chance to come in at any point during the day to rent a motorcycle from you. You may want to have some provisions made for overnight drop offs, however.

Minimum Number of People required to Operate This business:

Two would be recommended at the very least. You will need one person who is able to handle the paperwork that goes along with renting while you have another person working in the garage area, maintaining the motorcycles to keep them in their best state.

Make sure this Business is for you

See: What Are Your Reasons For Getting Into Your Own Business?
And
The Pros and Cons of Owning and Operating Your Own Business
And
Five Ways to Find the Right Business for You

Is it Better To Build or Buy?

See : Build or Buy A Business?

Look into the legalization

See: Play By The Rules - It's the Only Safe Way To Do Business!

Look Into Start up Cost

See: Estimating Startup Costs

Ensure You Have Enough Money To Start:

See: How To get The Money You Need For Your Business (Start-up Capital)

Find The Right Location

See: Finding The Best Business Location

Create The Right Name

See: Choose a Business Name

Consider A Tag Line

See: Creating A Tag Line

Create A Logo And Business Cards

See: Make Your Business Card A Silent Salesman

More Business Ideas:

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