In these modern times almost all business sectors are changing as rapidly as possible to be as profitable a business as they can. Biking industry is not the one to be left out and is certainly not lagging behind in making such changes. However, sing the penny farthing went out of fashion; people are less aware of this two wheel transportation and talk less about this industry that is taking the transportation system head on.
There have been a lot of changes in the design of the bikes, the rules governing the biking industry and even in the biking infrastructure. It is for this reason that more and more people are taking on to biking whether it is to visit their workplace daily or just for pleasure riding.
Government and the biking industry are continually trying to promote this mode of transportation by making people aware of its benefits. This no-fuel mode of transportation is not only good for the environment due to no carbon footprint but is also an easy and effective way to stay fit and healthy.
It reduces time spend in commuting and most importantly has been providing a lot of boost in the country’s economy as well.
Challenges to look out for
However, if you follow the success stories of different biking rentals and visit reliable websites such as www.unlimitedbiking.com and others you will know that success in the biking industry did not come over night.
- There has been a lot of effort put in from all corners, including the government, to overcome the inherent challenges and its hurdles. It is the same scenario among all biking rental shop all over the world.
- Since 2000, the market was not as profitable as it is now and took quite a beating that is well documented. The smaller bike stores were the victims to fierce competition by the direct to consumer bike brands.
- The larger brands tightened the profit margin which made it impossible for the smaller bike shops to survive.
- The need for innovative opportunities was felt and the powers-to-be worked hard to come out of this impasse. It was the time when things required a massive change in business trends.
Luckily, now the trends are here and it is your time and effort now to recognize, realize and adapt to these changes. These changes will enable you to reap the benefits of biking industry which is highly in the rise and booming.
Bike sharing and rentals
If you need to do just that, you must have an insightful look at it. There are three noticeable and biggest trends that have come in the biking industry that has influenced it in all possible ways.
However, you must pay attention to make the best use of these trends as there are several disruptors in here. Your attention will play a significant role in providing success of the brick and mortar bike shops and take you to the right direction to go forward.
Bike sharing and rentals have come up with “last mile” bike rentals which are providing both commuters and bike shops with lots of benefits. This trend provides riders the opportunity to travel short distances to reach their final destinations. This dock less bike rentals is a billion-dollar business and almost all bike rental companies are reaping the profits of it raising hundreds of millions of dollars in this mad dash.
Benefits of bike sharing
If you think on the superficial level you may feel that the development of bike sharing business may stand in the way of the bike shop rental programs causing considerable hindrance to its progress. However, if you think it deeply and go through different bike rental websites such as www.unlimitedbiking.com and others then you will see that the benefits of it are actually threefold:
- When biking becomes a popular form of urban transportation it is more likely that the cities will start to invest in its biking infrastructure resulting in more bike lane expansions.
- Private bike sharing companies especially the foreign ones have found an easy way of for these local bike rental shops. Earlier the foreign companies faced staunch resistance from the local companies when they wanted to infiltrate the cycling industry. But with so much importance on bike sharing schemes that is designed exclusively for one-way transportation, the market is now wide open.
- It has helped the natural counterpart namely the specialized long term bike rentals to flourish even more. It has led to the natural separation between riding for fun and riding for utility and that has helped the bike shops.
Rise of powerful biking rental software like and inclusion of an assorted bike fleet that includes MTBs and road bikes, bike rental shops can now smartly position them to attract those riders who are excited about urban cycling but are least interested in the burdening and cumbersome 3 speed transportation system.
Rise of Electric bikes
There has also been a rise in the use of e-bikes and the increase in popularity of these bikes over the past five years has been remarkable. The sales of e-bikes have jumped significantly by 30 to 40 percent over the years as compared to the sales of motorcycles.
According to research conducted by several agencies, the global reach and use of e-bikes will increase further and by 2025 it will be more than four times of the current statistics of e-bikes.
The market for these e-bikes is fragmented but the sales aspect remains positive all the time. As it is in all other parts of the world the e-bike market leaves the door open as a lucrative prospect.
Bicycle tourism has grown steadily over the years though it has not been hyped as much as the other two types. It is no more a niche market and has grown into a booming industry globally.
All tourism trade fair in the world have put bicycle tourism at the front due to its sustainability which is the primary driving force for its burgeoning popularity in keeping with the demand of the global tourism sector for adventure, authenticity and environmentalism.