110 Unique Business ideas:
Business ideas No.10
10. Mopeds for Hire
At 19, Peter was attending the University of Virginia as a
freshman. In a class on entrepreneurship, he had to develop a business on
paper. What he came up with was a moped rental business for U.S. vacation
spots. The Professor, impressed with his work, urged him to start the business
during the coming summer. Peter decided to set up at a favorite vacation spot
of his family’s in Nantucket Island, Massachusetts. Ager grossing $50,000 in
four months, peter decided not to return to college.
After renting a small dirt corner lot in Nantucket, Peter
set up a card table, bought a cash box, and invested $5,000 in buying 15
mopeds. The first two weeks he was so busy, he borrowed $10,000 from his father
so he could buy 25 more mopeds.
At the end of the tourist season in Nantucket, he packed up
and moved to Sanibel Island, Florida. This has since become his headquarters
for his Fun Rentals Company.
His company has now grown to over 500 mopeds, 40 employees,
and 11 other sites. He has also started selling franchises for around $35,000.
With his business grossing more than $1 million a year, Peter has set a lofty
goal of having 100 franchises and 100 pieces of the most valuable property in
the country’s resort areas.
For Peter it was a matter of taking classroom theory and
applying it in the field. This, the initiative to test a theory or an idea, is
an important ingredient any young business person can have. Gather your
knowledge, weigh the costs, then take the risk.
Analysis:
Type: Service
Marketing Approach: Retail
Unique Appeal: Ready-made market
Skills: None
Financial Overview:
Initial Investment: $15,000
Potential Income: Unlimited
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