Do you wish to start a bicycle business but are out of ideas on where to start? Now you don’t need to worry anymore because here are 12 profitable bicycle business ideas you can start as a side hustle and full-time business?
Introduction To Bicycle Business Ideas
The bicycle business can also be called bicycling.
There are lots of business ideas that are associated with bicycles.
Some of these business ideas do not require huge capital for a startup, while some are capital intensive.
Also, some of these business ideas can be established online and offline.
If you enjoy cycling or are a bicycle enthusiast, you might want to consider some of these business ideas.
Before we consider these business ideas, let’s discuss some important aspects.
Benefits Of Going Into A Bicycle Business
Talking about bicycles in this modern era of electric vehicles seems slightly out of place.
You may as well be thinking that riding bicycles seems outdated.
You may be quick to conclude that this business lacks prospects or potential for success.
Before you do, let’s look at the benefits of bicycling to our lives individually and globally.
Bicycling has several economic and health relevance.
As such, exploring businesses in this industry will be worthwhile.
For instance, cyclists spend the most money on local stores.
How is this so?
Well, the cost of commuting to the store is higher than it is for cyclists due to gas fees and all.
So, cyclists are more likely to take more trips to the local store than car owners.
This, directly and indirectly, improves the state of the economy.
Precisely, the activities of bicyclists contribute $133 billion to the nation’s economy.
Furthermore, it reduces the rate of accidental road crashes.
It also promotes a healthier and fitter lifestyle, e.g., people biking to work.
Over the years, research has proved that people who biked to work were fitter and more productive at work.
Not only that, there are several businesses in this industry that require little to no start-up capital.
12 Bicycle Business Ideas
1. Bicycle Rental Service
A bicycle rental service is one of the profitable bicycle business ideas.
It is easy to start and is quite profitable.
A good location for this business would be in areas with tourists attraction.
Also, if you are in an area with lots of bike lanes and youths that ride bicycles, you can consider this business.
You can begin this business with two or three bicycles and expand as time goes on.
Furthermore, you can use this business as a side hustle to get extra income.
The estimated startup cost for this business is between $2,000 and $30,000.
Overall, start small and expand as your business grows.
2. Bicycle Repair Service
Repairing bicycles is another way to explore bicycle business opportunities.
You could set up a shop to offer your customers bicycle repairs and maintenance services.
However, you need to equip yourself with the skills and the necessary tools for this business.
Also, your workshop needs to be situated in the right location where your customers can easily access your services.
The estimated startup cost for this business is between $2,000 to $10,000.
To save on your start-up cost, you could start this business from a dedicated space in your home.
Afterward, you could rent a larger space to expand the business.
3. Bicycle Courier Service
If you don’t have the capital to sell a bicycle or the experience to offer repair services, a bicycle courier service may be right for you.
This type of business is a one-person business.
There are different courier services, but you should choose one suitable for your bicycle business.
Before you get started, you should research the necessary licenses you will require for your business.
Afterward, research and identify your target market- people who may need your delivery services.
These could be law firms, design companies, and local companies.
Since it’s a bicycle courier service, you can only deliver small and lightweight packages like envelopes, confidential documents, and small parcels.
Above all, you can start this one-person business with as low as $2,000.
Eventually, you can expand into a full delivery firm with two or more people as the business grows.
4. Selling Of Bicycle Spare Parts
This is also a good bicycle business idea you can start.
Bicycle spare parts will continually be an essential commodity as long as there’s a need to ride bicycles.
Furthermore, you don’t need formal training to engage in this business.
However, vast knowledge of the different bicycle parts and their functions is essential to succeed in this business.
If you don’t have this knowledge, you might want to work as an apprentice for a while to get the experience.
In addition, there’s no fixed start-up cost for this business due to the unstable price of the bicycle parts.
Nonetheless, you’ll need to invest in getting a shop for your business.
Alternatively, you can sell bicycle spare parts online using platforms like Amazon, Esty, WhatsApp, Facebook, and Instagram, among others, to reach your target audience.
5. Online Bicycle Store – Bicycle Business Ideas
This is another way of making an income from bicycle business ideas.
Starting an online bicycle store will be great if you’re interested in being a bicycle dealer.
This won’t cost you much money to set up, unlike a physical/walk-in store.
Also, you won’t need a walk-in store to display bicycles.
So, to get started, you should first secure a reliable bicycle dealer(s) with quality products.
Furthermore, you’ll need to register with an online platform where you can promote your products to your target audience.
Finally, you should negotiate with your supplier and agree on a good deal to make profits.
6. Children’s Bicycle Store
Another thriving and profitable bicycle business idea is opening a children’s bicycle store.
Most children love bikes, and parents love to put a smile on their children’s faces by giving them what they want.
So, you can sell children’s bicycles, strollers, walkers, and other related stuff.
However, you need to identify your target market and set up your business where they’re located so you can make sales.
The estimated startup cost for this business ranges from $10,000 to $300,000.
You can also operate the business online using your preferred online platforms.
7. Bicycle Specialty Shop – Bicycle Business Ideas
This is also another profitable bicycle business idea.
It requires you to target a specific set of people.
You’ll sell items like sports bicycles, mountain bicycles, hybrid/cross bicycles, bicycles for the disabled, and more.
As with most businesses, you can own an online or walk-in store- whichever works best for you.
However, it’s much easier and cost-efficient to start an online store, as you already know.
There are different online platforms you can sell your products.
In addition, you could also offer specialty bicycle repair services if you have the skills.
This will be an added advantage to your business.
8. Bicycle Sharing Business
Bicycle sharing is another profitable business idea you can start.
Another name for this business is the public bicycle system or bike-share scheme.
This is similar to a bike rental service but on a larger scale.
However, the difference several differences between this and a bicycle rental service, such as;
- Firstly, there’s no physical interaction between you and your clients- the entire process is initiated via the bicycle sharing app.
Customers request and rent the bicycle through your company’s bike-sharing app.
- Also, you’ll need to have several pick-ups and return stations.
Customers pick up the bicycle at one station and drop it off at a designated docking station.
- You’ll need to invest more money in building a bike-sharing app for your business.
Overall, this is a more capital-intensive bike rental business.
So, you should have the required finances/capital before venturing into this business.
9. Refurbishing And Recycling Of Bicycles
This is another bicycle business idea you can explore.
Not everyone can afford a brand new bicycle.
So, you could set up your business to cater to this market.
This is true, especially if you don’t have much capital to start as a dealer; you can start with this.
You will only have to spend money getting a space, spare parts, and paints to make the bicycle look good.
10. Selling Of Bicycle Protective Gears And Accessories
Selling bicycle protective gears and accessories is one of the bicycle business ideas.
This is another profitable business idea.
Bicycle riders need these protective gears and accessories to protect themselves from injuries when accidents happen.
So, you can start an online or walk-in store to sell these products.
11. Manufacturing Of Bicycles And Assembling Plant
This is one profitable business in bicycle business ideas.
If you have all it takes to start this type of business, you are good to go.
There are several things you will need to put in place to start this business.
Firstly, you will need a plant where the manufacturing process will take place.
Also, you will need a showroom to display the bicycle.
You should be able to produce different brands of bicycles from children to adult sizes.
You can also include the manufacturing of bicycle parts and accessories.
Furthermore, you can offer bicycle repair and maintenance services.
You should be ready to take your business international to maximize your profit.
However, note that this is a capital-intensive business as the estimated minimum startup cost for this business is $300,000.
12. Supplying Of Raw Materials- Bicycle Business Ideas
This is yet another bicycle-related business idea.
The startup cost for this business might vary due to unstable prices.
Furthermore, your target customers are bicycle manufacturers and assembly plant owners.
You can approach them and inquire what raw materials they need so you can supply them with all they need.
However, you should only supply high-quality materials to build and maintain trust in your business.
How To Start A Bicycle Business
If you are interested in any of the bicycle business ideas discussed above, you might be wondering how to get started.
Concerning starting a bicycle business, there are two things involved;
Firstly, the one you can start by renting a shop or store.
On the other hand, you could create an online store with your desired platform.
Whichever one you choose, here are a few first steps to starting a business generally.
Create A Business Plan
The next thing after getting a business idea is creating a business plan.
This will help increase the chances of success.
Furthermore, it will help you focus more on the important aspect of the business.
Overall, a business plan serves as the map that guides you on your business journey.
So create one for yourself or get help from a professional.
Pick A Location Or Online Platform
Another step you should follow is the location of your business or the platform you want to operate the business.
You should pick the best location/platform where your customers are based.
Overall, your business location (online/offline) should be one your target customers are familiar with.
Getting Licenses And Permits
This is also an important thing to consider in any bicycle business you choose.
You should visit your local offices to see if you will need a license and permit for the type of business you want to operate.
Every business needs funds to function.
If you have the capital to start the business, you don’t have any problem starting the business.
However, if you don’t have the means to get capital for your business, you can visit any local financial institutions for loans.
Although, you will need to fulfill some requirements to be granted a loan.
If you want to gain publicity and make profits, you should consider marketing your business.
This is a crucial step for every business.
Marketing is a tool that will help you grow your business and reach a wider audience.
There are different ways you can use to reach a wider audience, such as pamphlets, billboards, posters, Facebook ads, and so on.
Conclusion On Bicycle Business Ideas
We’ve come to the end of the best bicycle business ideas.
We hope you’ve decided on the best bicycle business idea for you.
You should research any bicycle business you choose to know how to go about it.
Every of the business ideas discussed above is profitable in its way.
However, none of the business ideas is a way of making quick money.
You should work hard if you want a successful business.
You should have various products in your store and stock up your inventory so you won’t lack anything in your business.
Also, you should be ready to encounter challenges because they’re inevitable in business.
You should also have a way to have the edge over your competitors.
Above all, we leave you with the keys to every successful business, which are; patience, hard work, consistency, sacrifice, commitment, planning, and implementation.
We’re rooting for you!