The business case for renting out a motorcycle Investment required to rent out motorcycles Here’s a simple model I made to show this. But you can make around $1–2K per year per motorcycle, which is pretty amazing considering it’s something most people SINK a lot more money into. How much money can you make? It depends on the model and pricing (see the tips below). The profit target for renting out motorcycles on Riders Share You can buy a popular older motorcycle that is low maintenance, of generic appeal and reliable, and have a reasonably high ROI.
On the other hand, demand (usually by out-of-town travellers) is high. This number must be SO MUCH HIGHER for motorcycles. There’s a popular statistic that John Zimmer of Lyft likes to mention, that cars are > 95% un-utilised - just sitting around in parking spaces. Sign up The business case for renting out motorcycles on Riders Share
#RIDER SHARE HOW TO#
Here’s how it worked for me, plus a business case for how to do it. This is a screenshot from 2018 when I started doing it. While I had them listed, the Scrambler and the Zero were very popular options.
You make a listing, add pretty photos of your motorbikes and pricing, and then (if there’s any demand for your model and at that price), watch the bookings come in. Here’s how to rent out motorcycles easily - a magical new(ish) startup based in Los Angeles called Riders Share.įounded by Guillermo Paco Cornejo, it basically works like Getaround does for cars, but for motorcycles. You can get bikes like this for $2,000 with reasonable miles, rent them out and have a lot of fun too! Came with luggage, a windscreen, a hundred tractable horsepower and a bulletproof engine. This was my most profitable motorcycle on Riders Share, a Honda CB900 (919). Make some cash, meet some riders, and get a discounted first rental. And in some cases, you might even make it profitable! It really adds up!īut renting out motorcycles, even if they’re not your main steed, is a way of making motorcycles less painfully expensive. Generally speaking, you can spend anywhere from a minimum of hundreds to many thousands a year on regular upkeep (chain, tires, oil etc.), major services, registration, insurance, gear, parking tickets, undercover parking, and that’s before you buy those new motorcycles you’ve lusted after. You already know that motorcycling is a money pit of a hobby. You aren’t going to get rich, but this is a way to make affordable owning too many motorcycles - as long as you’re willing to do basic maintenance. Renting out motorcycles is a great way to earn income on your woefully unused motorcycles. And I was going to make a few bucks off it! But in my defence, I had already decided to sell my motorcycle.Īnd it wasn’t a new V-Rod, nor a used Ducati Superbike. “Rent out your motorcycle? You’re crazy!” you cry. It was a very interesting experience, so I wanted to write out this riders share review to share some ideas about how to use the platform to earn passive income. In 2018, I started renting out my motorcycles on what was then a new app, Riders Share.
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