How To Start An ONN Bike Franchise In India 2024?

on Feb 14, 2024 | 5475 views

Written By: Shruti Agrawal

Want to capture the mobility world specially after the big pandemic has distraught the lives of everyone and made people conscious of using crowds and public transportation, here comes the opportunity by ONN bike franchise which makes the life of people comfortable and allows them to mould their way according to their wish.

It's not just about starting a franchise; it's about steering into a future where innovation meets opportunity. So, let's rev up and explore the road to an ONN Bike franchise in India in 2024.

Introduction To ONN Bike Franchise Brand

  • ONN Bikes was founded in 2017 by Namit Jain, Shanky Munoth, Akashdeep Singal, and Kunal Gupta.
  •  ONN Bikes operates as a self-owned fleet business model, where the company owns the bikes available for rental in more than 10 cities in the country.
  • The company leases bikes and provides them to end-users, similar to the cab aggregation model, and is set to introduce OTP-based dockless scooters by August.
  • The primary target audience for ONN Bikes includes bike enthusiasts, travellers, and individuals who prefer renting a bike for leisure or commuting purposes.
  • ONN Bikes offers various booking packages, including hourly, daily, weekly, and monthly options, to cater to different customer needs.
  • Uses technology such as geo-location, geo-tagging, and immobilization of bikes to check the risk of theft.
  • It is growing rapidly, adding 150 employees and generating 5,000 monthly bike rentals on average.
  • Its Expansion plans include Pune, Kochi, Ahmedabad, Himachal Pradesh, and Vizag and add more than 100 new locations across India in the next 2 years.

ONN Bike Franchise

ONN Bikes is the best bike (two-wheeler) rental franchise platform. Though it was not a year or two things, it took a good 7 years of hard work, since the brand started in 2016 from a single City Bengaluru with a fleet of 20 vehicles. By the end of 2023, it has reached more than 10 cities and has a fleet of 5000 vehicles including both the ICE and electric bikes. And its services are used by more than 5000 consumers.

In 2022, the brand is into a franchise model and has more than 30 franchises which exceeds the fleet size of 1500 vehicles. These franchise partners can make more than INR 5 lakhs per month.

Investment Required For ONN Bike Franchise

The minimum investment required to start an ONN Bikes franchise is as follows:

  • The investment required ranges between INR 2-5 lakhs.
  • The initial investment starts from INR 3 lakhs onwards.
  • The payback period for the investment is as low as 12 months, with a return on investment (ROI) as high as 100%.

The company looks for franchisees with a background in automobile and local media and provides complete station operation training to the partner and their team.

Requirements To Start An ONN Bikes Franchise

  • Investment: An investment between Rs. 2-5 lakhs is required to start an ONN Bikes franchise. The initial investment starts from 3 lakhs onwards.
  • Background: ONN Bikes is looking for franchisees with a background in automobiles and local media. Employees who have worked in companies, self-employed professionals, students, fresh graduates, and others are ideal for this opportunity.
  • Training: ONN Bikes provides complete station operation training to the partner and their team, offering initial understanding and separate meetings with the customer support team to introduce the partner to events and sights in and around the city.
  • Location: ONN Bikes is currently operating in multiple cities across India, especially the Tier 1 and Tier 2 cities across India.
  • Franchise Fee: The franchise fee for ONN Bikes is around INR 50,000- INR 1 lakhs. However, to get better clarity you can get in touch with ONN Bikes or FranchiseBazar for further information on the franchise fee and other details.

Steps To Start An ONN Bike Franchise

To start an ONN Bike franchise, follow these steps:

  1. Research the franchise opportunity: Visit the ONN Bikes website and gather information about the franchise opportunity. Understand the brand as a whole, its vision, mission, and requirements and see if you share the same philosophy or if you fulfil the requirements.
  2. Check for availability: Since ONN Bikes operates in India, you may need to find an available location for your franchise.
  3. Connect with the franchise provider: Reach out to ONN Bikes or the franchise provider to inquire about the availability of the franchise opportunity in your desired location.
  4. Complete the franchise agreement: Once you have confirmed the availability and agreed on the terms and conditions, complete the franchise agreement.
  5. Receive training and support: ONN Bikes provides training and support to its franchisees to ensure they are aligned with the company's standards and processes. Complete the training program provided by ONN Bikes.
  6. Set up your location: Find a suitable location for your ONN Bike franchise, preferably in a high-traffic area with good visibility and accessibility.
  7. Purchase necessary equipment and inventory: Invest in the required equipment, such as two-wheelers, and inventory, such as helmets, locks, and other accessories.
  8. Hire and train staff: Recruit staff for your franchise and provide them with the necessary training on customer service, vehicle maintenance, and other relevant skills.
  9. Launch your franchise: Once your location, equipment, and staff are ready, officially launch your ONN Bike franchise.

Reason Why To Invest In ONN Bike Franchise

  • Technology: ONN Bikes focuses on providing advanced technology solutions to enhance the bike rental experience for customers, making it an attractive option for potential partners.
  • Simplified Mobility Vision: The company's vision is to simplify mobility for tomorrow, and it has grown from 1 location in Bengaluru with 20 vehicles to operating in multiple cities with a significant customer base.
  • Higher Revenue, Low Initial Set-Up And High ROI: The ONN Bikes franchise offers a low initial setup cost, making it an affordable option for potential partners. The payback period for the investment is as low as 12 months, with a return on investment as high as 100%.
  • Dedicated Partner Support: ONN Bikes provides comprehensive support to its partners, including training and resources to help them succeed in the business.
  • Growing Market: The bike rental market is growing in India, and partnering with ONN Bikes allows you to tap into this expanding market.
  • Flexibility: ONN Bikes offers a flexible business model that allows partners to rent motorcycles, scooters, and accessories on a daily, weekly, and monthly basis, catering to various customer needs.
  • Add-On Services: ONN Bikes also provides add-on services such as panniers, helmets, and riding gear, allowing partners to offer a more comprehensive range of products to their customers.

Market Trends Of Investing In Two-Wheeler Rental Market In India

The market of two-wheeler rentals was valued at USD 38.76 million in 2021 and is projected to reach USD 63.82 million by 2028, with a compound annual growth rate (CAGR) of more than 7%.

This growth is attributed to various factors such as tourism, urbanization, digitalization, migration, micro-mobility, and cost-effective alternatives to owning and maintaining two-wheelers.

The rapid rise of migration among students and the young workforce has also contributed to the market's growth. Additionally, the market has witnessed increased demand during the COVID-19 outbreak, and the restrictions have gradually waved off, leading to a resurgence in the market.

The concept of two-wheeler rental franchises is not only popular in tourist destinations but also addresses the last-mile connectivity and micro-mobility needs in metro cities. Overall, the market presents significant opportunities for both existing and new players, driven by the evolving needs of consumers and the changing mobility landscape in India.

Benefits Of Two Wheeler Rental Franchise In India

The two-wheeler rental business in India offers several benefits, making it a lucrative opportunity for entrepreneurs. Some of the key benefits include:

  • Cost-effectiveness: Renting a motorcycle is generally more cost-effective, especially for shorter durations or one-time trips, as it eliminates the need for long-term commitments and avoids resale hassles.
  • Convenience: Renting a two-wheeler allows you to navigate India's vibrant cities, picturesque countryside, and breathtaking mountain roads at your own pace, without the need to find parking spaces.
  • Affordability: Motorized scooter rentals are an affordable mode of transportation for a day or two, allowing you to explore the area without breaking the bank.
  • Wide range of options: Renting companies offer a variety of two-wheelers, including scooters, motorcycles, and e-bikes, catering to different preferences and needs.
  • Flexible packages: Daily and hourly packages are the most sought-after rental options, while some companies also offer long-term rental plans in response to the COVID-19 pandemic.
  • Safety and maintenance: Rental companies often provide premium helmets and maintain their fleet to ensure the safety of their clients, making it a convenient and safe option for travel.
  • Tourism: Renting a two-wheeler allows tourists to easily travel from one destination to another, making it a popular choice for sightseeing and exploring new places.

Other Brands to Consider For Two-Wheeler Rental Franchise In India

YULU Bikes

Yulu Bikes is a technology-driven mobility platform that offers shared low-speed two-wheeler electric vehicle services. Yulu operates in several cities, including Bangalore, Delhi, and Mumbai.

To own a Yulu Bikes franchise:

  • The investment required is approximately INR 1 cr. to 2 cr.
  • A franchise/brand fee of INR 5 lakhs.
  • A royalty/commission of 70%.
  • The Period for which the franchise term is valid is 3 years and after that to continue you have to renew it.
  • Additionally, an investment of about INR 1 cr. is needed to procure 1000 cycles over 4 months.

So, whether you're fueled by the desire to be your own boss, contribute to a greener planet, or simply explore the dynamic realm where technology meets transportation – starting an ONN Bike franchise is your ticket to this adventure.

To learn further about the ONN Bikes franchise and the other best two-wheeler rental franchises, you must contact the expert associates of FranchiseBAZAR and start your entrepreneurial journey.

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.

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