Velocipede / Snowpede Borrow Bank
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Velocipede/Snowpede is a start-up company. Marketing is critical to success and profitability. The store offers rentals of bicycles and snowshoes as well as guides for places to use the equipment.
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Velocipede/Snowpede possess good information about the market and knows a great deal about the common attributes of the most prized and loyal customers. Velocipede/Snowpede will leverage this information to better understand who is served, their specific needs, and how Velocipede/Snowpede can better communicate with them.
Velocipede/Snowpede is providing its customers with a wide selection of cycling and snowshoe rentals. Velocipede/Snowpede seeks to fulfill the following benefits that are important to their customers.
The market trend in the outdoor activity industry is an increased participation of different sports. For example, people that road ride are now trying mountain biking based on the assumption that they will enjoy it because of their other preferences. This trend can be explained by several factors:
In 1999, the global sports rental market reached $265 million in revenue. This market is estimated to grow at 9% for the next several years. The growth can be attributed to several factors:
The following SWOT analysis captures the key strengths and weaknesses within the company and describes the opportunities and threats facing Velocipede/Snowpede.
Currently, there are three retail bicycle shops that rent bicycles and four retailers that rent snowshoes. They also sell books with suggested rides. Velocipede/Snowpede Borrow Bank will, in addition to renting the equipment, include detailed maps for customers to follow.
Velocipede/Snowpede offers a rental service for a variety of bicycles (road, mountain, and tandems) as well as snowshoes and poles. In addition to the rental of the equipment, Velocipede/Snowpede offers detailed maps of suggested rides and hikes included with a rental. While competitors will have employees who can make suggestions of where to ride, Velocipede/Snowpede offers a detailed map so all you need is the rental, the map, water and food, and ambition.
Eugene offers national class cycling and therefore it makes perfect sense to offer rentals. The road riding is available directly outside of Eugene, one simply needs to roll the bike off the sidewalk in front of Velocipede/Snowpede and you are enroute for an amazing road ride through the many different valleys and mountain ranges. Eugene also offers wonderful mountain biking in the Costal Range, Cascades, as well as the foothills of both. While these rides generally require a car to get to the trailhead, there are many different rides within 40 minutes of Eugene.
A large deposit will be taken, or a hold of funds with a credit card, to discourage theft. It is common to have theft occur when there is no deposit or the deposit is small.
Eugene has two different roads that head up into the Cascades. There are many areas directly off the highways that are wonderful for snowshoeing.
Velocipede/Snowpede is still in the speculative stage as a retail store. Its critical issues are: continue to take a modest fiscal approach; expand at a reasonable rate, not for the sake of expansion in itself, but because it is economically wise to. Continue to build brand awareness which will drive customers to Velocipede/Snowpede.
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