Understand the Market & Research

• Research the advertising industry: explore the outdoor advertising sector in your area to define what types of ads can be done on bicycles and which are the most effective. Popular options include billboards and full bike wraps. However, it’s also possible to design the wheels and frame separately or distribute printed promo materials (e.g., brochures, flyers, etc.).
• Target audience: identify who will benefit from mobile advertising so that you can adapt your business strategies according to customer needs. The target audience may include aspiring entrepreneurs, nonprofits and charity organizations, government agencies, automobile vendors, corporate organizations, e-commerce businesses, and fast food restaurants.
• Competitor analysis: investigate other services offering advertising on bikes in your area. Pay attention to their pricing policies, types of ads used, size of bike fleets, and other operational aspects that may help you create a successful business model to stay ahead of the competition.

Develop a Business Plan

• Business model: consider which type of advertising you would like to provide. It’s possible to create a fleet of bicycles to draw even more attention on the streets or engage in a small bike business, starting to market brands using individual vehicles. Think of the potential profitability of each model before making the final decision.
• Revenue streams: decide what revenue streams will be the most convenient for you. For example, you can charge customers based on the type and number of ads produced, set a flat fee for bigger companies, or charge an hourly rate for bike advertising.
• Initial costs: calculate all the startup costs for your business, including bike purchasing, branding, storing, and staff recruiting (if any). You should also consider marketing promotion expenses and the costs of additional equipment needed for your venture (bike stands, security systems, etc.).
• Legal and financial planning: register your business and get a license and permits required for its legal operation in your area. Additionally, understand the taxes you will need to pay and collect other papers required for running a bike advertising business.

Acquire Equipment and Resources

• Bikes and modifications: purchase bikes that fit your business model. The options are vast: you can get a fleet of standard city bicycles or turn to Ferla for customized builds (dedicated promo bikes with or without pedal assist, small cargo vehicles, etc.). If needed, modify bicycles for further ad placement, be it a banner, billboard, or full wrap.
• Design and branding: cooperate with professional designers to create eye-catching branding solutions for your vehicles. There are several ways to apply bike designs, including vinyl wrapping, logo decals, spray paint, fabric covers, and wheel inserts. Whatever option you choose, make sure the materials are reliable and durable.
• Tracking and logistics: equip your bikes with GPS trackers to monitor their real-time location and make sure that no vehicle from your fleet leaves a predefined operating area. Also, optimize bike routes to catch more crowds on the streets and increase ad visibility.

Set Up Partnerships and Marketing Strategies

• Partner with local businesses and brands: introduce your services to local companies that might want to advertise their products. It’s also a good idea to partner with bike rentals and delivery businesses to expand the scope of your activities and get more profit.
• Develop your marketing strategy: leverage the power of social networks to reach your target audience. You should also create a website and make your business known by sending engaging emails to corporate organizations, novice entrepreneurs, and other potential customers. Of course, the most effective way to advertise your services is to show them in action, so get on your ad bike and make people notice you!Operations and Logistics

• Managing the fleet: consider all the nuances of proper bike maintenance to keep your fleet in good condition at any season. Also, make sure you have enough space to store the bikes securely, eliminating weather exposure and the possibility of theft or damage. Further to the point, consider the best times and routes for bicycle deployment.
• Staffing: hire competent cyclists and enlighten them about the importance of establishing a positive image of the brand they market. Pay the salaries on time and in the full amount.

Read also: Experiential Marketing with Ferla Bikes

Monitor Performance and ROI

• Track advertising effectiveness: if possible, analyze people’s engagement after seeing advertising on bikes to assess the effectiveness of your business. Gather statistics on how much companies’ revenue increases after promoting their products outdoors.
• Feedback and client reporting: collect feedback on your marketing strategies to enhance business performance and reach full customer satisfaction. Plus, provide companies with regular updates on how their ads are performing and help them calculate the monetary value of their investments.

Scale the Business

• Expansion opportunities: it’s important to grow your business over time to stand competitive in the market. To make this possible, enlarge your fleet with additional bikes, expand to new cities, and come up with innovative advertisement options (interactive ads, digital billboards, etc.).
• Explore new revenue streams: get a new source of income by offering delivery services to companies engaged in the food industry or by advertising large-scale events on your bicycles. You can also provide bike rental services, increasing your customer base.

Check also: Advertising bikes for sale

Conclusion

Bike advertising may be a great revenue source, allowing you to market products in a more innovative, dynamic, and impactful way than simple billboards. Bicycles can cover huge areas and easily move around high-traffic streets to reach a large number of people, which is quite difficult with other types of advertisements. This corresponds to a fundamental principle of marketing: in order to be efficient, an ad must be seen. Mobile advertisement is also an eco-friendly and cost-effective way to get the attention of everyone around and convert it into sales.   

Establishing a successful bike business involves solid planning, careful market analysis, and a focus on customer satisfaction. When managed properly, bike advertising may be a fulfilling venture, so take your time to think over all the details and purchase only top-quality promo bicycles