How to share your bike with a ‘stranger’

86.5 million people in the US shared something with a stranger last year (2021). Think companies like AirBnb and Uber. In August of 2021, I attempted to add Bike It to that company list. A peer to peer bike sharing platform. What I thought would be an instant hit, proved otherwise. Here’s what I learned.

Strategies deployed

• Built MVP application using multiple 3rd party applications (prove concept)

• Placed bikes throughout the city with a QR code sign labeled ‘Rent Me’

• Ran joint content promotions (free rentals) with my media company (AskPhilly.com)

• Promoted with local businesses and neighbhorhood Facebook groups

The Results

• One successful rental (who enjoyed the experience!) out of multiple inquiries

• Multiple bike host inquiries, but none onboarded

• A working peer to peer bike sharing platform

• About 50 QR Code scans that led to some pre-launch newsletter sign up

What I learned

• The model supported a specific use case — daily rentals with the same pick up/return location.

• There was a missing ‘trust’ factor when it came to peoples bikes. Fun fact, renters insurance covers bike theft/loss.

• Peer to peer bike rental requires really good logistics. For example, bike request acceptance times, logistics with key locks, security concerns with combo locks, coordinating the meet up spot.

For a multitude of reasons including timing, this one didn’t work out for me. BUT I think this concept still has legs. Someone should go for it.