The rise of innovative bike sharing startups: Business model & features to launch such a startup
The increasing demand for commuting has set the scene for modern-day taxi businesses. Enterprises like Uber, Lyft etc have managed to achieve a massive success in this domain through constant innovation and sheer expertise. As time passes by, they have expanded the business both geographically and in terms of services. From taxi booking to bike sharing services, commuting enterprises have begun exploring all the possibilities of future transportation. Today, many metropolitan cities have begun acquiescing the idea of two-wheeler commuting. In this document, we share ideas, suggest practices to help you kickstart your own bike ride-sharing business.
Rising Bike Sharing Market: An Analysis
Unlike the taxi services, two-wheeler commuting is more convenient, especially in cities. In fact, it is much affordable and is the best way to counter the hectic traffic of cities. However, a month before Uber took over a bike-sharing startup JUMP, which in fact will add benefits to Uber’s vision to become an urban mobility platform. Not only that, this decision of Uber reflects their grasp on the rising growth of bike-sharing services as well.
When it comes to figures, recent studies have revealed a drastic increase in ride-sharing services. Back in 2013, there were only about 700,000 public use bikes. But in a period of 5 years, the number has risen dramatically and now there are over 2.3 million public-use bikes in the world. However, these figures are predicted to increase further as more businesses began investing in it.
Platform-based Business Models for Digitized Commuting Business
Since the new-age commuting businesses solely rely on digital platforms now, the best is to go with a platform-based business model. Industry favorites like Uber, Lyft etc follow the same idea of the platform-based model. Moreover, the research from Forrester reveals, the digital businesses, the platform-based businesses have collectively generated a revenue of $100 billion.
Above all, the platform-based businesses are the most efficient ones, their rate of productivity is higher when comparing to traditional businesses. Besides, most of the businesses that follow this business model don’t own assets which are core to their trade. Airbnb and Uber are the best examples for this. Moreover, they can expand their business to other relevant sectors since the upfront capital cost is low. For instance, Apple has recently decided to evolve their music store into a streaming service, whereas Uber has already stepped into food delivery with their new extension UberEats.
Core Features to Integrate with your Custom-tailored Bike-sharing Application
Software platforms play an integral part in the success of any digital business, hence and so, the features integrate within the platform has great significance. In fact, its role in influencing the customer’s decision is not negligible at all.
Easy Booking and Bike Availability
The most important entity in any business is customers, and this is why we have to optimize the platform in accordance with their requirements. An easy navigation and booking process enables users to easily find what they are looking for. This will have a serious impact on user-experience and customer retention will improve as well. When it comes to bike ride-sharing business, the most crucial part is availability. The bikes should be available anytime, anywhere. Letting your customer wait for a long time isn’t preferable. Integrate GPS tracking option within your platform, which will help you find the available riders.
Scan the QR Code to unlock the Bike
The next big thing in terms of attributes is unlocking the bike. By providing an easy unlocking option through QR code, you can make the action seems so simple and easy to perform. Since the core purpose of commuting is to save time, making this process easy will help customers save their valuable time.
Reliable Payment Options
Money transactions constitute the most sensible part of the business. Flawless cash transactions are vital to the success of a business. To earn the credibility, you need to integrate the best payment gateways. It helps customers engage in faultless transactions. Moreover, you should take care of the security matters. For instance, the credit/debit card details users provide should be safe. Providing discounts and offers are recommended as well.
Book the Ride Beforehand
Booking the ride in advance option allows customers to save time. It reduces the waiting time, thus delivers an incredible commuting experience to your valuable customers. Moreover, the booking beforehand helps you to avoid the risk of unavailability during the peak hours. By promoting flexibility by incorporating user-focused attributes, you will drastically elevate your business credibility.
Agriya’s Ready-made Ride-hailing Software to Set Up an Impressive Bike-sharing Application
The process of building a bike ride-sharing application from the scratch is tedious. It requires great effort, a prolonged period of time and a great deal of money as well. Unless you are a well-established organization, you cannot find the right resources or investment to fund the process. This is where ready-made solutions excel. Agriya’s ready-made uber clone script is a fully-customizable ride-sharing software, which can be modified and deployed as a bike-sharing app within a short span of time. Moreover, the innovative features integrated within this uber clone script help you surpass the overwhelming competition in this domain. Here’s the demo,
Evidently, bike ride sharing is a very recent trend in commuting. And it needs more time to further expand its reach. However, in near future, many Uber-like businesses will adopt this strategy and undoubtedly it will benefit the customers big time. Since it is the best convenient way of transit, specifically in cities, hopefully, bike-sharing will soon hit your nearby cities.