A Potential Pivot?

Let me begin with a disclaimer: this is a blog post, not a formal business plan. These are, well – just thoughts.

That said:

What if The Bike Library pivoted to primarily doing bike tours? What do you think? A not-so-small part of me is more confident in the steady demand for bike tours.

I say that because two renters yesterday told me point blank, We would prefer if this was a tour.

Projections are tough. I've thought about them a lot over the past week. Out of the 3.75M visitors last year, 53% or 1.99M are in my target age range. On average, 94% or of those people (1.87M) will know how to ride a bike. If one percent (1%) of that pool wants to go on a bike tour, that's just over 18,000 customers in the year. An average of 50 customers per day is way more than I need to break even. It's also more than I can handle right now. I need to guide about 10 tours per week to make a living. That's 20-hour weeks, both on the job and in the saddle. Not bad...

Maybe I could to convert The Bike Library from being a "better bike rental in Raleigh" to a bike tour company with satellite locations around town.

What do you think?