PediCab Service
Startup Costs: $2,000 - $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
Peddle your way to big profits by starting a pedicab taxi/tour service. A ride through the park, a sightseeing tour around town, or a relaxing ride to and from a restaurant'tourists and locals alike love to take in a region's sights and sounds from a ride in a pedicab. Pedicabs are available in a wide range of styles, purposes, and price points. There are basic two-occupant models all the way up to models that will accommodate six people, and even others that are equipped with storage space (but no seating) for urban parcel delivery instead of people. New pedicabs start at about $3,500, and half that amount if used. Ride rates are currently about $1 per minute, with a minimum charge of $5. The business can easily be expanded from a one-person operation by purchasing multiple pedicabs and hiring drivers to operate them on a revenue-split basis. Also, don't forget to sell the highly visible and valuable space on the back of the pedicab to local business advertisers. This space can easily generate an additional $500 per month and more in large urban centers. Be sure to build alliances with hotels, tourist associations, event planners, restaurants, and travel agencies so they can refer your pedicab service to their customers. Additional profits may also be earned by selling photograph mementos, T-shirts, hats, and postcards.
PediCab Service Ideas
Automotive Used Parts
Apply your auto industry know-how to sell used car parts.
Auto Parts Rebuilding
Turn a hands-on hobby into building secondhand auto parts.
Boat Rentals
If you own a boat that sits on land more than water, consider renting it out for others to enjoy.
More from Business Ideas
This '2-Minute Rule' Will Help You Brainstorm the Best Ideas, Says a Hedge Fund Manager Who's Worth $15.4 Billion
It's a lot easier than you might think.
9 Must-Do End of Year Tasks for All Business Owners
Don't let the year end without completing these important business musts.
Ask Marc | Get Free Advice About Your Business From the Co-Founder of Netflix
Get free business advice during our next Ask Marc, live Q&A, on 11/28/23 at 3 p.m. ET. You don't want to miss it—send in your questions now.