Spyder Rentals

[livechatpro]

I recently fell in love with the Spyders and I was considering opening a new business Rent a Spyder. I want to finance a Spyder F3 for 48 months and rent it (daily).

I live near a major city in Oklahoma and there's practically no competition, but I wanted to ask people here what they think about this.

What are the pros and cons for renting a Spyder, or would it be better to rent Rykers instead?

I am worried about the repair costs and how often they break. Should I stay away? How destructive can my future renters be?

Any feedback or ideas are appreciated.

 

[spyderider1]

Not sure how you would screen your customers and most would not have experience/license for handling these machines. Then there's the maintenance. Would you do it yourself or have a dealership? The more they're driven the more maintenance will be required. I would think that insurance costs would be prohibitive if available.

Don't get me wrong, it sounds like a fine idea but would require a lot of foresight and planning to make it work. Good Luck if you choose to pursue this. Remember, Avis and Hertz probably heard the same thing when starting out, "you're gonna let strangers drive your cars"?

 

[ARtraveler]

I note this is your first post on the site. :welcome:

As far as renting spyders as a business, and being new to them...I suggest a few thoughts:

Unless you have a LOT of money...I would not try the venture. If you have to finance the rental Spyder...then you probably cannot afford it.

Renters are going to drive it like they stole lit. You will have more breakdowns than normal.

Renting the Spyder will most likely void your warranty.

Insurance for rentals is going to be a lot different than private insurance.

The average person will find it difficult to service the unit on their own. At minimum, you will need to purchase a BUDS machine from BRP so that you can hunt down the problems as you find them. Renters are most likely not going to be forthcoming if damage is done.

Rental business's for Spyders are few and far between--could be an omen, or a godsend...depending on how you wish to interpret it.

 

[johnsimion]

Talk to Mary Monteverde of Hawaiispyders.com. They own five rental Spyders in Honolulu. From my experience, they're well-used (i.e. old!) Spyders with manual transmission. In spite of that, somehow she manages to keep them running even though there is no Spyder dealer there. She could probably also give you lots of insight about how to run a rental Spyder business. Good luck!

 

[cptjam]

Buy 3 rykers. Pay cash. Insure with liability, but make the renters pull a policy on their own. Learn to do maintenance. Try it for a year. See how it goes!

 

[canamjhb]

I agree with Joe. A couple of thoughts...... Keep in mind that Spyders are at the bottom, or near the bottom for motorcycle reliability. We are all spyder advocates but sometimes reality bites. I would make sure you have a back-up rescue vehicle ie: trailer. Be prepared to rescue stranded unexperienced riders experiencing break downs. Could be an interesting adventure. Let us know what you decide and how it works out...... Jim

 

[MRH]

Buy 3 rykers. Pay cash. Insure with liability, but make the renters pull a policy on their own. Learn to do maintenance. Try it for a year. See how it goes!

I agree that the price point and simplicity will yield a much better return on the Rykers, but how does one effectively get renters to pull their own policies?

 

[BLUEKNIGHT911]

I recently fell in love with the Spyders and I was considering opening a new business Rent a Spyder. I want to finance a Spyder F3 for 48 months and rent it (daily).

I live near a major city in Oklahoma and there's practically no competition, but I wanted to ask people here what they think about this.

What are the pros and cons for renting a Spyder, or would it be better to rent Rykers instead?

I am worried about the repair costs and how often they break. Should I stay away? How destructive can my future renters be?

Any feedback or ideas are appreciated.

:welcome: ...I will be watching this thread closely …… This topic is timely for me ….. I began thinking about doing something like this lately ….. however my idea differs in that it would be geared towards a " Guided motorcycle tours " using the Ryker as the motorcycle. … I'm an empty nester and have four spare bedrooms..... It would be run more like a " B & B & B ", and could include lunch & dinner.... I live in a Tourist intensive area ( near Sugarbush Vt. ) with really nice scenic roads...…. Thanks for posting this idea …… Mike hyea:

 

[Rob Rodriguez]

I don't know a lot about this but I have rented ATV's a few times and in all cases........

They put a hold on your credit card of $1500 (approx.) for damages
You purchase insurance on the spot when you rent the ATV. Cost was like $250. You also sign a waiver saying you agree to pay what insurance may not cover.
You sign a waiver releasing the rental place of any medical/bodily injuries

I think the biggest hurdle will be licensing. You need some sort of license to drive a Spyder/ Ryker on the road.

I also would not finance the Spyder/Ryker purchase and expect to cover costs on rentals. To much of a gamble for me....especially if you live in a seasonal area where you might only be able to rent a few months of the year.

 

[Mikey]

I myself, wish I could have found such a place before I got my rt! At that time I didn't know that much about the bike and wanted to be able to jump on one for a weekend with the wife and do a nice loop ride! Most, if not all dealerships will not let you out of the door yard with the bike, even if your going to buy the darn thing! If you came from a two wheeled world, changing from two, to three is a big step! I think having a place to go that is like Mikes idea of a guided ride, or rentals would be a great idea and would not hurt the sales of a great piece of equipment such as a Can-am!! Good Luck with this dream!!! Put all your ducks in a row and go for it!!:2thumbs:

 

[CopperSpyder]

I recently fell in love with the Spyders and I was considering opening a new business Rent a Spyder. I want to finance a Spyder F3 for 48 months and rent it (daily).

I live near a major city in Oklahoma and there's practically no competition, but I wanted to ask people here what they think about this.

What are the pros and cons for renting a Spyder, or would it be better to rent Rykers instead?

I am worried about the repair costs and how often they break. Should I stay away? How destructive can my future renters be?

Any feedback or ideas are appreciated.

Do some research look at the places that rent them now, we have places in Pennsylvania that rent Spyders and some that rent SlingShots, they seem to be doing good. When you look at their website sometime they are booked weeks in advance. Not many places rent motorcycles so people will travel just to rent them and vacation in that area. Good luck with your business idea.