Do you like traveling? Are you a complete travel enthusiast? Then you can start a bike tour business and have a very lucrative career in the traveling business. Of course, to start and run this business you need to be a nature-loving and highly energetic.
In this article, you will get all the detailed information on starting a bike tour company along with its pros and cons and other necessary information.
What is a Bike Tour Business?
Starting a bike tour business will not only allow you to make additional money but also let you travel and enjoy the environment. However, you can run it in two ways: –
- Just give your bikes on rent and
- Go along with your customers and provide a personalized guided tour.
The first one is simple; you don’t have much to do. Tourists will take your bikes on rent and do the roaming on their own. But the second one is both interesting and challenging. Here you have to accompany your customers and provide a complete tour.
Thus, the second option is not only lucrative and profitable but will also allow you to enjoy nature and traveling along with making money.
Steps to Start a Bike Tour Business
The basic thing to start this business is your enthusiasm towards the line of business. If you like to relax on the couch every time you get some spare time, then this is not the line of business for you. You need to be a very passionate and nature-loving person or else you will not get interested in this business.
Here are some of the major requirements to start this business: –
- Location: – To start this business, you need to select the location carefully. Every location will not suit this business as it needs to be in close proximity to major tourist destinations.
- Investment: – The investment will be for renting a place and for the bikes and its maintenance. In the beginning, you don’t have to start with a lot of bikes. You can begin with a maximum of 5 units and increase it accordingly. Still including rent and cost of bikes you will need around USD 2000 to USD 3000 as capital. You also need to consider the factor of servicing and maintenance of the bikes.
If you are lacking in capital, then you can take assistance from your local banks and financial institutes. Just submit a well-prepared business proposal and you can get the required money as loan and that is also without any kind of collateral deposits.
- Registration: – You need to register your business as per your local law and take the required license for the same. The registration process will not be very critical and you may get the license within a very small span of time.
- Insurance: – As your bikes will be handled by someone else, thus taking insurance of the business is very important. It will cover all the expenses for accidents, damages and other things.
- Promotion and Marketing: – After you start the business, your major action will be the rigorous promotion of your business. Until people are aware that you are providing the bike rental service, you will not get proper business.
Along with all these, the most important step will be to do a complete research of the business. It is suggested that you should spend at least a month for doing proper research of the business and find all kinds of pros and cons about the same and after that take your final decision.
What are the Pros and Cons of the Business?
Before starting any kind of business, it is necessary that you find out the advantages and disadvantages of the same. If you are aware of this in advance, then you can take proper actions, precautions and make plans accordingly.
Cons of the business: –
- Seasonal: – This is a seasonal business, thus you may have to sit empty in most of the months in a year.
- Competition: – Being a lucrative business opportunity, you may deal with higher competition in the market.
Pros of the business: –
- Less investment: –The required investment in this business is very low in comparison to the profit margin.
- Part-time: – You can run this business on a part-time basis and work a regular job or do another business along with this. It provides you with flexibility.
- Home-based: – If your home is in a major tourist destination, you can start this business from home also. This will save a lot of investment.
So, considering all these factors, you can make the decision about whether to select this business or not. And we hope this article was helpful to get all your answers regarding starting the Bike Tour Company.