The sudden blow by COVID-19 brings a lot of change to the world’s economy. The news reports that many companies fell to bankruptcy, along with the other companies who are struggling to survive by cutting off their workers.
It has created a worldwide economic crisis. But to some companies, COVID-19 has brought an advantage with the shifts in public needs and behavior and new customer demands.
These demands are new business opportunities. Based on the growing market, the bicycle market is the dark horse of business. The bicycle market is poised to grow by USD 10.5 billion during 2020-2024.
Based on the forecast, the growth of the bicycling market not only applied to the pandemic state. It shows that even after the pandemic, the market is still growing. Thus, the creation of a long-term business plan related to bicycles will be promising.
Starting from this knowledge, what kind of business are you going to explore?
If you live in a tourist or a historic area, this business idea might become your new resolution for 2021.
Bicycle Tours and Trips
People will seek something to please their eyes. The same scenery of cycling will make them bored. Therefore, providing them a new cycling scenery will fulfill this demand.
First, exploring the new bicycling tracks is necessary. You have to note the selling points of your business. Are you going to give them the experience of a breathtaking view? Or is it the historical value that you are going to highlight? It will be easier for you to do the marketing if your track has unique selling points.
Second, create the routes for the tourist. Sometimes, people are cycling with their entire family. Kids included. Providing them with a kid-friendly cycling route will be the plus point of your business. But if your market focused on young adults and above, you can provide them with some challenging routes.
What about the extreme routes? The cyclists who want to pump their adrenaline are the perfect audience for your business. But remember to provide them with proper protection.
In some extreme sports, safety is the prime priority. And mountain cycling is one of the extreme sports. But protection is needed by everyone, both beginners and professionals. There are some basics to extreme protectors for cyclists.
It is crucial to protect their head from injuries. Even in a safe route, an accident can happen. The helmet is a necessity for all cyclists to prevent injuries on their head.
Gloves will absorb the sweat and prevent the cyclist’s hands to become slippery and sweaty. It will allow the cyclist to have a firm grip on the handlebars. Some gloves provide comfort through the pads and protect the cyclist’s hands from getting scratched.
3. Knee and Elbow Pads
Extreme cycling routes often causing people to fall from their bicycles. The protection for their knees and elbows is necessary. A severe injury on the knees or elbows can limit their mobility. In the worst-case scenario, it may become a life-long injury. Knee and elbow pads are necessary.
The cyclist’s suit will protect their skin from the possible friction if they fall from their bicycle. Some cycling suits are made from heat-resistant fabrics to protect the cyclist from extreme temperature. Providing warmth in winter and keeping away the heat in summer.
Provide the cyclist with a comfortable cycling suit that will allow them to move freely.
Bicycle Repair and Modification
Often, the cyclist encounters problems that have something to do with the bike’s wheel, brake, bicycle chain, and gears.
Providing a repair service that only requires one call away will be very helpful. It is because most of the cyclists experiencing this kind of problem in the middle of their cycling.
But they might come to you not only for repairing purposes. Some cyclists love to modify their bicycles according to their needs. They might as well want to create something distinctive as their identity. It is a perfect business idea if you are passionate about this industry and want to expand your creativity.
Creating a bicycle-rent business might sound perfect. But imagine if people brought their own bicycle, then no one would rent yours. The alternative is to observe their needs after owning a bicycle. They will need something to protect themselves. They want to explore new tracks and enjoy the view. Some of them want to modify their bicycle to create uniqueness. It can also improve its previous design. Or maybe, the customers want to customize it to match their needs.
There are a lot of business ideas to explore. The bigger picture of the industry will give you more inspiration. It will help you create fresh and new business ideas.
The only limit to entrepreneurship is your creativity.