A Study on Bike Renting
PROJECT REPORT
Submitted by
M.SURAJ
Register No: 17P37D0011
In partial fulfillment for the award of the degree
Of
TECHNICAL ENTERPRENEURSHIP
at
THE TIPSGLOBAL INSTITUTE
COIMBATORE
DECEMBER 2018
THE TIPSGLOBAL INSTITUTE
COIMBATORE
PROJECT WORK
DECEMBER 2018
A Study on bike renting
Is the bonafide record of project work done by
M.Suraj
16P32L0015
Of the Integrated M.s in general engineering and MBA in entrepreneurship during the year 2017-
2022.
DR.R. Hemanalini Dr.Narayanan
Project Guide Program Director
Submitted for the Project Viva-Voce examination held on ______________
----------------------------- ----------------------
Internal Examiner External Examiner
DECLARATION
I affirm that the project work titled, “A Study on bike renting” being submitted in partial
fulfillment for the award of Integrated Technical entrepreneurship, is the work carried out by
me. It has not formed the part of any other project work submitted for award of any degree or
diploma, either in this or any other University.
M.Suraj
17P37D0011
I certify that the declaration made above by the candidate is true.
DR.R. Hemanalini
Project Guide
ACKNOWLEDGEMENT
“Gratitude is the music of our hearts.” A project of such a comprehensive finish
cannot be completed without the help of numerous sources and people throughout the long
rugged path of success. And so I am deeply indebted to all of them and take this opportunity to
thank them.
First and foremost, I would like to thank god almighty whose blessings made me
complete the project successfully.
It is a great pleasure to acknowledge my sincere thanks to Dr. S. Narayanan,
Managing Director, THE TIPSGLOBAL INSTITUTE, Coimbatore for providing me an
opportunity to get practical knowledge about my theoretical studies.
I am indeed greatly thankful to my faculty guide Prof. DR. R. Hemanalini professor,
THE TIPSGLOBAL INSTITUTE, for guiding me to successfully complete the project.
I wish to express my gratitude to all the staff members of the institution for their
encouragement to complete this project.
Finally I would like to thank my parents, and all my friends who have helped me
immensely throughout the project work.
Table of Content
CHAPTER NO. TITLE PAGE NO
1. 1.1 Abstract 5
1.2 Background 9
2. 2.1 Need of Study 10
3. 3.1 About the topic 12
4. 4.1 Research Design
4.2 Tools used for Analysis
5 5.1 Percentage Analysis
5.5.1 One way ANOVA
6 6.1 Conclusion and Recommendation
6.2 Learning Achieved
BIBLIOGRAPHY 47
Appendices
Questionnaire
CHAPTER-1
1.1 Introduction:
Research is used to solve problems in a working environment by analyzing the root cause for
it, and it also used to implementation of new plans, developing the answer for the unknown
management questions. I am going to do my research on the F. Every individual has their own,
responsibility towards environment someone always depends on their self for every move in
their life and other one who make their own learning goals towards the environment and take
charge of his or her own learning towards environment, this type of learning is called
autonomous learning. Autonomous learners are only dependent upon society to create and
maintain environments that support the development of future generations mind set toward
environment.
Chapter-2
2.1 Need for the study
As the smartest technologies continue to deliver benefits, the bike renting sevice will have a
positive impact on the environment and an improved economy. This service would be
appreciated by many youngsters and people would opt for this service. Biofuel is created to be
an ideal substitute to extending the use of longevity of diesel. It saves money. Motorcycles
tend to get better gas mileage than most cars, so you'll save at the pump . ..
Chapter-3
3.1 About the topic
Transportation can be an annoyance and irksome experience in the major cities in India. The
buses are too jammed, the cabs too stiff and the autos are just a pain to travel in. Two-
wheelers on the other hand, are reasonable and comfortable and are the simplest way to travel
in and around the city. The obstacle is not everyone has a scooter or a bike. Bike Rental
Business comes here in the play.
The bike rental industry has been a successful venture for these years. It won’t be surprising
if you decide to enter into the trade as well. There are loads of people out there in the booth
who are renting out bikes. This is done via an online platform where an internal customer can
view all the bikes ready for hire along with their tariffs, pickup locations, and online payment
options. They form the bridge between the service providers and the vendors. Low price
limits, easy accessibility, and availability of two-wheelers; from a Honda Activa to a
Hayabusa; are making customers look towards rental start-ups for travel solutions when
visiting cities.
The Target Market: The primary target market for the bike rental companies comprises of
tourists. These days’ sightseers and especially youngsters prefer to take bikes and explore
rather than hauling around a car universally. Apart from this, foreigners who come to haunt
are also the kind of people who look for adventure on a bike. These two divisions of people
are the ones being targeted by the companies. The firms also deal in other product sections
like Selling/Renting of Biking gears like Jackets, Gloves, Luggage, Show Parts, Cameras and
also a provision to get clicked with a premium bike (the company arranges photographer and
spot).
Speaking of the market size, A Researcher said, “We estimate the market size to be of all
ages from 18 to 55. It is a huge market when it comes to premium motorcycle rentals.
Though the quantity of a household having motorcycle or moped is high, the percentage of
penetration in a premium vehicle is negligible and gives a tremendous opportunity. We
estimate it to be 3,630 crores keeping the population in the age group 23 to 39 and disposable
income of at least 4.5 lakhs per annum.”
The new attraction to the vehicle enthusiasts is the self- drive bike rentals. High-end
motorbikes such as Harley Davidson, Triumph, and Royal Enfield can be rented in various
tourists places for daily rates. Bikes on rent are very common in metropolitan cities like Goa,
Bangalore, Delhi, Mumbai, and Pune. It is also available in Delhi/Himalayan quarters for
those who drive through the Himalayas in tourist seasons, but bike rents weren’t that known
in other cities of India. With stand-out product categories like, customized expedition, lease
of biking gears and cameras; Bike rental business has championed the less traveled road of
excellent customer experience!
Start-up and Rental Costs: The core of the financing is apparently set aside for acquiring a
fleet of good bicycles. One also needs to have repair kits ready for the maintenance of the
fleet. Although this is depending on how many bicycles one acquires and the quality of the
bikes, one could spend at least US$7,500 for a fleet of 20 to 25 bicycles. Second-hand bikes
may drop this acquisition cost, but maintenance is naturally higher as one bring the bikes up
to par with quality. Other expenses that you may have to maintain to keep your bicycle rental
business going include liability and theft warrant, as your bikes could be in peril of being
stolen by ill-minded occupants or thieves they encounter along the way.
Here, I present some standard rates use all over India.
The Office Location: One good section is a place right beside the highway where motorists
and vacationists can see the bikes that you are offering for rent. Another would be to join in a
location where other rental services like camera rents and movie rentals are located. These
are places that renters frequent frequently, and would also help develop up the concentration
that is required to be around your rental business. Of course, cars have higher demand and
better utilization, so car rental companies will be able to charge less and still make money.
Bike rental business hasn’t taken off in India like in say Thailand, so the rents are still high
and options are few. Bicycle rentals have never been more in vogue these days now that oil
prices are growing, and tourists would rather rent bikes relatively than cars.
The importance of choosing the right location is a familiar mantra for small businesses. But
for a bicycle rental business, the right location is an especially critical factor in success. Bike
renters are nearly exclusively tourists or locals interested in pedaling their way through local
tourist destinations. If the area doesn’t see much tourist traffic, a bike rental business
probably isn’t a realistic trade option. Mountain bike rentals may be an exemption, but even
then the local area needs to offer mountain bike trails and a growing mountain biking culture
if your start-up is going to have a chance at enduring more than a few months.
The Statistics: Many bike rental start-ups are starting to crop up around various sectors of
the country. They offer solutions for travelers to move almost metros quickly by renting two-
wheelers. Apart from making it convenient for riders to search on their own, they are also
more economical for tourists. With Goa now seeing tourists encouraging the state throughout
the year and the visitors preferring rented motorbikes over taxis, the rent-a-bike industry is
booming.
Today there are around 20,000 rented two-wheelers operational in each state, and some
operatives have over 50 bikes for hire.
The number of rented motorbikes has unwaveringly risen over the years. Slightly over a
decade ago, there were less than a hundred two-wheelers on rent. Data from the state
transport department shows that the number of such bikes filed in the year 1999-00 was 85.
This number plunged to 354 in 2001-02, and there was almost a five-fold increase in 2006-07
with 1,543 two-wheelers being registered for the purpose of hire. In 2008, the number of
rented two-wheelers registered with the transport department stood at 2,154 and jumped to
3,798 in 2011-12. Till date, 19,820 such vehicles have been registered.
Also, two-wheelers do not entail any standing charges beyond the daily cost of hiring the
vehicle. The average cost of hiring a car is Rs 250 per day for a non-geared bike. This can,
however, diversify with the type of bike and the higher end motorbikes cost more.
Indian Governments’ Initial: As per the tourism department’s plan, bikes will be available
for rent at Metro stations, ISBTs and railway stations and major places across the capital.
Tourism minister Jitender Singh Tomar said that Delhi has many tourist sites and keeping
these things in mind, the government has decided to encourage people to visit tourist
destinations by launching such facility. “Department has planned to start bike-on-rent facility
to promote people to visit tourist places in the national capital and to provide last mile
connectivity to such targets. As per the scheme, bikes which will be parked at Metro stations
and ISBTs, and will be given to people on rent for visiting tourist sites,” Tomar said.
The minister also said that people wanting to take the bike on rent for visiting tourist
destinations would be required to submit their identity at bike counters and after that, they
would be given to bike. “Things like figures of bikes and rent of such carriers is now being
finalized by the officials. For an experiment, the department will start bike-on-rent facility at
some metro stations and ISBTs,” said a senior official of the department.
Risks you cannot avoid: A Panaji-based rent-a-bike operator who requested anonymity told
TOI that the biggest problem players’ face is stealing of bikes. Some customers provide false
laminated identification and hence are not traceable. The cost is retrieved from insurance, but
this is a long process, he added. Operators now retain an original ID proof plus a photocopy
of the driving license. They also verify other details like the contact number and place of
resident or hotel before hiring out the bike.
Wrapping it up:- The trend of sharing economy in India is gradually catching up, and we
see several start-ups evangelizing different verticals like furniture, apparels, and car among
others. It is a highly fragmented and unorganized, but in recent times we are seeing start-ups
coming up to solve this problem. The process of renting has been, for the most part,
fragmented. The business is now not just seeking a more structured form but also expanding
to include everything from clothes and confederates to even sharing of financial resources
and vehicles.
Tourists favor self-driven bikes as they are more comfortable and cheaper than tourist taxis
which usually operate without measures and are often accused of defrauding customers with
excessive fares. Rented bikes are famous even among newcomers, many of who prefer
Bullets. So next time you wish to explore a new place or city for adventure hire a bike and
take a pleasant ride.
Chapter 4
4.1 Research design:
Research methodology is way to analyses or solves any research problem systematically. It can
be termed as the science of studying how a research is done. It includes the overall research
design, the sampling procedure and data collection method and it also includes the analysis
procedure. This research is based on the questionnaire. The questionnaire was designed in a
way such that we can find the an individuals interest on motorbike renting through Google
form or some other medium. The filled questionnaire was taken as a primary data for research.
Analyzing that questionnaire gives us some statistical data that was need for the research.
Research Design: Descriptive research
4.2 TOOLS USED FOR ANALYSIS
✓ Percentage Analysis
✓ Chi square
✓ Pie chart
Chapter – 5
5.1 Percentage Analysis
Age No. of Responses Percentage
Below 18 0 0%
18-24 28 84.8 %
25-34 5 16.2%
Grand Total 33 100 %
Table 5.1.1
The table shows different age group of the Responses.
Interpretation:
About 0% of the respondents are under the age group of below 18,84.8 % of people come
under 18 to 24 and only 16.5% of the people are under the age group of 25 to 50.
Table 5.1.2:
The table shows the occupation of the people.
Occupation No of Responses Percentage
Student 28 84.8 %
Employee 5 16.2%
Grand Total 33 100 %
Interpretation:
About 84.8% of the respondents are student and 16.2% of the respondents are employee.
Table 5.1.3
The table shows the respondents when did they ride a bike.
Options No. of respondents Percentage
Recently, in the last 2 weeks 14 42.42%
Between 2 weeks and a 6 18.18%
month ago
Between a month to 3 3 9%
months ago
Between 3 months and 6 2 6.06%
months ago
Over a year ago 4 12.12%
Yesterday 3 9%
Didn't have any bike rides.
Saving it up for later 1 3%
Total
33 100%
Interpretation:
About 42.4% of the respondents have rode recently, 18.18% of the respondents have
ridden between 2 weeks and a month ago, 9%of the respondents have ridden between a
month and 3 months , 6.06% of the respondents have ridden between 3 months and 6
months ago, and 12.12% have ridden it one year ago
Table 5.1.4
This table represents if people can ride bike or not
Gender No of Responses Percentage
Yes 29 87.87 %
No 4 12.12 %
Grand Total 33 100 %
Interpretation:
About 87.8% of the respondent know to ride a bike and 12.12% of the respondents are
don’t know to ride a bike
Table 5.1.5
This table represents if people have rented a bike or not before.
Gender No of Responses Percentage
Yes 7 21.21%
No 26
78.78 %
Grand Total 33 100 %
Interpretation:
About 21.21% of the respondents have rented a bike before and 78.78% of the
respondents have never rented a bike.
Table 5.1.6
This table represents why would people rent a bike
Options No. of respondents Percentage
I could afford to get a nice 14 42.42%
bike
It is cheaper than buying a 6 18.18%
new one
I do not have any reason 3 9%
Total 33 100%
Interpretation:
About 42.42% of the respondents feel they could afford a nice bike , 18.18% of the
respondents feel it is cheaper than buying a new bike and 9% of the respondents don’t
have reason.
Table 5.1.7
The table represents why people wouldn’t rent a bike
Options No. of respondents Percentage
I like to own the bike I use 15 45.45%
I am not sure if it would 7 21.21%
cheaper to buy a bike
outright
It is a waste of money as I 5 15.15%
would not be keeping the
bike in the end
I would be too worried if I 6 18.18%
broke the bike (deposit,
repair costs)
Total 33 100%
Interpretation:
About 45.45% of the respondents like to own a bike they use , 21.21% of the respondents
not sure if it would cheaper to buy a bike outright and 15.15% of the respondents feel It is a
waste of money as I would not be keeping the bike in the end and 18.18% of the respondents feel It
is a waste of money as I would not be keeping the bike in the end.
Table 5.1.8
This table represents which of the feelings factor the most.
Options No. of respondents Percentage
Quality 4 12.12%
Condition 14 42.42%
Brand 5 15.15%
Price 8 24.24%
Total 33 100%
Interpretation:
About 42.42% of the respondents condition of the bike is important , 24.24% of the
respondents price of the bike is important, 15.15% of the respondents feel brand is
important and 12.12% of the respondents feel quality of the bike is important.
Chi square
Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
can you ride a bike * when
33 100.0% 0 .0% 33 100.0%
did you ride a bike
can you ride a bike * when did you ride a bike Crosstabulation
Count
when did you ride a bike
Between a Didn't have
Between 2 Between 3 month to 3 any bike Over a Recently,
weeks and a months and 6 months rides. Saving year in the last Yesterda
month ago months ago ago it up for later Everyday ago 2 weeks y Total
can you No, I ca 1 0 0 1 0 1 1 0 4
ride a bike
Yes, I c 5 2 3 0 1 3 13 2 29
Total 6 2 3 1 1 4 14 2 33
Chi-Square Tests
Asymp. Sig. (2-
Value Df sided)
Pearson Chi-Square 9.418a 7 .224
Likelihood Ratio 7.266 7 .402
N of Valid Cases 33
a. 14 cells (87.5%) have expected count less than 5. The minimum
expected count is .12.
Directional Measures
Asymp. Std.
Value Errora Approx. Tb Approx. Sig.
Nominal Lambda Symmetric .043 .073 .580 .562
by
can you ride a bike
Nominal .250 .217 1.016 .310
Dependent
when did you ride a
.000 .074 .000 1.000
bike Dependent
Goodman and Kruskal tau can you ride a bike
.285 .093 .243c
Dependent
when did you ride a
.021 .024 .689c
bike Dependent
a. Not assuming the null hypothesis.
b. Using the asymptotic standard error assuming the null
hypothesis.
c. Based on chi-square approximation
Symmetric Measures
Value Approx. Sig.
Nominal by Nominal Contingency Coefficient .471 .224
N of Valid Cases 33
Chapter 6
6.1 Conclusion and Recommendation:
✓ From the percentage analyses we can say that the people are neutrally
interested in renting a motorbike
✓ Approximately 60% of people are interested in renting a bike .
✓ 80% of the people know how to ride a bike.
✓ People would rent a bike on four different factors which they feel are the
basic neccesity
6.2 Learning Achieved:
1. The survey helped me to frame a good questionnaire by my own and how
to get a feedback from our society.
2. I learnt how to work on spss software and prepare a set of questions using
this software.
3. Finally got a clarity about bike renting market in our country at present.
Appendices
Questionnaire
Q1. Name –
Q2. Age -
Q3. Occupation-
Q4. Can you ride a bike?
Yes, I can
No, I cannot but I would like to learn
No, I cannot
Q5. When did you last ride on a bike?
Recently, in the last 2 weeks
Between 2 weeks and a month ago
Between a month to 3 months ago
Between 3 months and 6 months ago
Between 6 months and a year ago
Over a year ago
Q6. Would you be interested in renting a bike in the future?
Yes, definitely
Maybe
No
Q7. Have you ever rented a bike?
Yes
No
Q8. Why would you rent a bike in the future?
It is cheaper than buying a new bike
I only have to look in one shop / website to find what is available
I could afford to get a nicer bike if I choose to rent
I could go to work with it instead of taking public transport
I do not have any reason to rent a bike
Q9. Why would you not want to rent a bike in the future?
I like to own the bike I use
I would be too worried if I broke the bike (deposit, repair costs)
I do not know whether they would have the bike I want in stock to rent
I am not sure if it would cheaper to buy a bike outright
It is a waste of money as I would not be keeping the bike in the end
Q10. How important are the following factors when renting a bike?
Neither
Very Of Little Don't
Important Important or Unimportant
Important Importance Know
Unimportant
Price
Condition
Number of
previous
users
Brand
Colour
Quality
Size
