Last week, we talked about an app for moms. This week, I thought I would show products for kids. Check out their pitch video on vimeo below.
For the most part, I like this business model. It is the “Netflix” of bike usage. Instead of owning, receive a bike in the mail, use it for as long as you want, and return it when you are done. The price is also reasonable for the value it offers. It is far less expensive than purchasing a bike every year for your kids.
There are a couple of downsides to this business that I think they would need to address. For example, the seasonality of riding a bike may result in bikes being rented in the summer and returned in the winter. This could be a challenge for their business. The second limitation may occur when families have more than one child. At this point in time, the cost of multiple memberships gets restrictive. Parents in these situations are likely better off buying a bike and passing it down from child to child. In these cases, I do not see a strong value proposition for these parents.
I think there are a lot of opportunities similar to this company’s idea. There are a ton of products and resources that go unused or are wasted because we do not have the same need as the useful life of the product. Keep your eyes out for these types of opportunities.