We came across some great research on online searches for bike rental from the Rental Business Hub
…Did you know that over 1.2 million people search for bike rentals alone on Google? In a closer analysis, Google Insights shows a 17% increase from 2010 to 2011, and forecasts an even larger growth spurt for 2012.
The numbers indicate that shoppers are actively searching for bike rentals online, meaning there is a huge opportunity for bicycle stores across the country. Today’s consumer is not only searching for your products online, but they are looking to book online. When they’re hungry, they make reservations online through OpenTable. When they want to take a trip, they book on Expedia, Kayak, Hipmunk and a host of other online travel portals.
- In 2010, over 50% of people booked their travel online
- 58% of customers research a product of service online prior to buying
- Online bookings are projected to grow an average of 8.1% each year from 2009 to 2014
- U.S. online transactions grew by 11% in 2009 despite the global economic recession
When a customer reserves a table at a restaurant on OpenTable, they make their reservation online and expect the table to be ready upon arrival. Why should consumers expect less from your bike rental business? What are you doing for your business to convert that online traffic into online revenue?
With Velolet, bike shops can be provide the customer service they have come to expect from travel sites and sites like Open Table It takes no time at all to get you up and listed and providing the services that 1.2M people look for when trying to rent a bike.
In Bicycle Retailer and Industry’s Year in Review they report that for 2011, “Retailers see drop-off in rental business as bike share programs take off in major U.S. cities” Probably pretty frustrating for the Bike Shop we’re guessing! So, what to do? Well, get in front of these bike share programs by exposing your bike fleet to the travelers/cycling community BEFORE they arrive at their destinations by listing on Velolet.
Bike Share programs exist and they are a great way to allow travelers to see the city… but they don’t necessarily fit the bill for everyone. What if you could make arrangements prior to taking off for you destination and get a ride that better suits your cycling passion from reputable bike shops that can really offer you something guaranteed to be there and something you would want to ride. Perfect example, events like SXSW make bike shops and Velolet a strong alternative to the bike share programs. Prior to your trip, you book your flight, hotel AND BIKE with Mellow Johnnys. When you get there, you aren’t hoping to grab a bike-share bike, your week long bike reservation is there and waiting for you when you arrive.
Velolet makes it easy for the travelers to search a centralized and standardized platform for just the bike they need for the ride they want to do in their size. Then let the travelers sign waivers electronically and make the reservation and payment so when they arrive, the bike is prepped and ready.
So, rental drop-off because of a bike share program? Doesn’t have to be that way… get to the finish line first by letting the traveling cyclist rent from you before they even touch down at their destination. Velolet
Discovery Channel Contributor Derek Markham put together a nice write up on Velolet. Can’t thank him enough for the kind words and the exposure to our great service for bike owners.
…This service seems like a great way for bike shop owners to also get their bikes out and working for them, instead of waiting until someone calls or walks in asking about the bike. It also seems a natural fit for travelers, who might want the option to cruise around on a bike while at their destination, or who get the urge to rent a mountain bike after seeing some sweet trails nearby, or who get drafted into ‘just a little road ride’ by their cycle-crazy relatives.”
Read more here and thanks again to Derek and Discovery Channel
recently wrote about reducing friction
for things like car rental and lodging. It also applies to bike rentals, and we don’t mean adjusting the brakes or greasing the bearings. No what Brendan is referring to is the friction involved in selling a product or service. The more you reduce the friction for your customer, the better experience he/she has and that’s important.
Using the format Brendan used, he shows us an example
of a hailing a cab vs. using Uber
. The complete hassle and friction is reduced significantly in the Uber model. Much like Uber, Velolet reduces friction for its bike rental customers versus your normal in-store bike rental process.
Here is generally what you need to do to get a bike rental at a shop:
- Find a Bike: Search online in countless Google, Bing or Yahoo searches, drill down to the bike shops listed, search their site for anything that says bike rental and if there are no rentals, start the process over again.
- Making a reservation: Call the bike shop. Try to get the person in charge of bike rentals on the phone (sometimes a long wait as the bike rental person is either the owner or sales lead and they could be helping a customer.)
- Pay and Waivers: When you arrive, fill out a waiver with all your details, provide a credit card for processing.
- In store pickup: Wait until you arrive at the destination and hope your they have a bike in your size. Wait sometimes up to 30min for them to “prep” your bicycle so and make adjustments so you can get your rental.
Here is the Velolet experience:
- Find a Bike: Open Velolet website and search for bikes at your destination city. Filter your results to your size and put in your dates/time for pickup and drop off. Bike are presented (many times with pictures) and you select one and proceed to payment with a single click.
- Make Payment and process waiver: Secure reservation with credit card for EXACT bike and click online waiver.
- In store pickup: Walk in to the store, provide reservation confirmation number. Bike shop is aware through prior notification of bike reservation of the exact bike to prep and have ready. Store manager, wheels out the bike and you’re on your way (sub 5 minutes)
Between the two processes, the old method can take significant time and effort (friction) and in the end, doesn’t really secure a reservation for anything. With Velolet
, your reservation, waivers, payment and EXACT bike are secured. The bike shop also is given a heads up ahead of time so the bike is prepped and presented and they don’t have to handle any paperwork either. Both parties (bike renter and bike owner) have just experienced a “frictionless” experience for bike rentals.
So, if you’re a bike shop and want to reduce the friction for your customers, come on over to Velolet and let us put a little grease on the bike rental process. Your employees will be happy and for certain, your customers will too.
A few months ago I was asked to get involved in a fantastic group called Full Cycle.
Full Cycle is a nonprofit bicycle shop in south Minneapolis that offers a six-month, paid internship program for homeless youth. They employ, train and support homeless youth, teaching them bike repair and hands-on business skills including resume writing, interviewing skills, sales, customer service and overall professionalism.
Tonight I’m participating in a fantastic fundraising event call Break The Cycle
I couldn’t be more pleased to volunteer and offer assistance to this fantastic organization. Please take a few minutes to watch this great video and if you are interested in volunteering or helping out in some way, please let me know.
–Dan Cleary, CEO, Velolet The Bike Rental Hub
As Bicycle Retailer kicks off its Denver Dealer Tour in Boulder, CO, they interviewed shops in the area asking them questions about their business. One shop in particular that struck us, was Doug Emerson, owner of University Bicycles (U-Bikes) because he commented about how bike rentals can really be a great profitable addition to your bike shop.
…Doug Emerson …started University Bicycles …Emerson opened his first store in March 1985 in a basement on Boulder’s historic Pearl Street. He rented bikes. “I killed it,” he said with a smile. Renting bikes to foreign exchange students put enough money in his pockets to move a short distance up Pearl Street to open a full-service store.
Today U-Bikes, as most locals call it, sells upwards of 3,800 units a year—mostly Specialized—and his rental business is bigger than ever. This year Emerson said he will generate about $150,000 in rentals, which he then sells as used bikes. “It’s a very nice business,” he adds.
There are many places like Boulder and many opportunities to generate the kind of bike rental business that Doug does. At Velolet, we can provide you the in-house bike rental reservation platform that give you all the tools you need to manage your bike rental fleet and exposure your bikes to millions of travelers looking to rent when they travel. firstname.lastname@example.org and we’ll send you the “quick start guide” to answer all your questions and show you how you can be up and running in minutes.
One of the great aspects of Velolet is the direct Feedback it can provide to bike shops and to potential renters. We’ve seen the way that feedback works on all kinds of sites like eBay, Airbnb, Amazon, Yelp, TripAdvisor and countless other sites. What this provides is a candid assessment of how the transaction went and allows, in the case of the bike shop’s bike rentals, a measure for constant improvement.
Currently, there is not much of a feedback loop to improve a bike shop’s service, specifically for bike rentals. However, what we discovered over the past few months is that when prompted, the Renters actually provide pretty good constructive feedback, both positive and negative. What we’ve seen however, is that the bike shops have improved their service to address any negative comments and it is seen in the recent comments:
- Sun Sep 18, 2011 04:43PM – Great rental from a quality shop
- Sun Sep 11, 2011 06:09PM – Bike was Brand new. Bikes were ready, waiting for us when we came in. Great service
- Sun Sep 11, 2011 10:56PM – My experience was great…super staff, made sure it was perfect for my ride and picking it up and dropping it off was a breeze.
That feedback provides a mechanism for all parties including Velolet. We’re not perfect but like our bike shops, we’re constantly improving and that is what matters to customers. Addressing their issues and making it easy for them.
The feedback is great and we’d be remiss if it didn’t show how online bike rentals really improve an otherwise onerous process. With Velolet, the reservation, waivers and payment is all made online. This helps the bike shop “prep” your bike ahead of time and have it ready to go. That helps the bike shop and it provides a great convenience for the Renters (as seen in the feedback comments).
We’re going to continue to improve and so are our customers. Feedback is key to that constant improvement. That can only benefit the Renter/consumers in the long run.