Starting a Pedicab Business
Starting a pedicab business is one way to peddle through success and more money.
The startup cost is not too high and it can be operated from home too, thus the profitability is really high.
The Pedicab Business Overview
You can peddle your success to big profits by engaging to a pedicab service business. The pedicab is a foot-pedaled tricycle with a man peddling a bicycle and a sidecar for renting customers. This is one of the most common and convenient ways of transportations in the rural areas since the travel from the villages to the center of the town is usually a short distance only. This type of transportation is the best alternative today with the expensive prices of gasoline as well as when there are floods on streets. This does not require gasoline and is durable during rainy season, in times of flood.
Nevertheless, pedicab service can be very helpful when riding through parks, or sightseeing around the town, or having a relaxing ride around tourist spots. Pedicabs are very much available in wide varieties of purposes, styles, and price points. For instance, there are the basic 2-occupants models up to the models that can accommodate up to 6 people. There are even pedicabs that are equipped with the space for storage for deliveries in urban areas. They are not used for people but for deliveries only. These pedicabs do not have seats for people but instead large storage spaces for deliveries.
The startup cost of pedicab business can reach from $2,000 to $10,000. It can be operated also from home and can be operated as a part time job. The new pedicabs cost start at approximately $3,500 and if used, half of that amount is cut off. The rates of ride are currently $1.00 per minute with the minimum amount charge of $5.00. The pedicab business can be expanded easily from a single operation to multiple operations by buying lots of pedicabs and the hiring good drivers to do the operation and just pay them on a revenue split basis. Just remember to obtain a business permit first and acquire some other necessary documents for establishing your pedicab business.
Furthermore, to earn more profits, you can sell the valuable and highly visible space on the back of your pedicabs to the local company advertisers. This method can generate an easy $500 and more a month especially in large urban areas. Also, you must be sure to establish alliances with tourist associations, hotels, restaurants, event planners, as well as travel agencies so that they can refer your business to their clients too. Such additional profits may include selling t-shirts, photograph mementos, hats, or postcards to tourists and also to locals who love to collect souvenirs.
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