Goods and people will never stop needing to get from place to place, meaning the transportation industry is ripe with business opportunities. This article provides an overview of several of them.
Bicycle Rental Services
Bicycles are popular with many people: They are eco-friendly, provide exercise, and can be preferable to sitting in traffic. Therefore, some areas might present opportunities in the form of a bicycle rental business. Consider setting one up near hotels, public transit hubs, or any other area people are likely to be without cars. These can come in the form of a physical store where people rent bikes or an app through which users borrow them.
Moving services are another opportunity in the transportation industry. Compared to some other business types, starting a moving service can be relatively cheap. However, it is not as simple as buying a van and getting started: You will need the proper moving gear, insurance, and training for employees. You will also need a place to park your vehicle(s).
Depending on the areas, you may also find success by offering a specialty moving service for unusual items, such as boats or large machinery. Your client base will be smaller, but the fees you can charge will be higher.
Transportation for Seniors
Senior citizens are growing as a share of the population, according to the US Census Bureau. This is relevant to the transportation industry because many older adults relinquish their ability to drive. They still need a way to get around, however, giving rise to a business opportunity in the form of senior-citizen transport. If you set your business up as a nonprofit, you may even be eligible for grant money from different entities, including the federal government. (Do careful research to be sure your business will be eligible before going this route.)
For more articles that look at different areas of business, take a look at 5 Star Funding Group’s other blog posts.