Your Motorcycle Could Make You Money

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The sharing economy wants your motorcycle

Motorcyclists are a unique breed of people who love their freedom to ride the open road. And they love the bikes that give them the liberty of hitting the throttle at a moment’s notice.

Now one company, TwistedRoad, is tapping into the sharing economy by launching a motorcycle-sharing app that’s actually affordable. The founder, a biker himself, suffered a motorcycle crash that left him with thousands of dollars in medical expenses—and not much left to purchase a new motorcycle. Because bike rentals were upwards of $200 a day, he decided to pave a new, more affordable road to motorcycle renting.

But the idea rests upon a major assumption: that motorcycle owners would be willing to rent out their bikes to complete strangers.

The sharing economy

Ridesharing and the broader sharing economy have been on the rise. The market capitalization of three of the top ridesharing and home sharing apps alone is $106.5 billion. But ridesharing has been around for awhile, dating back to World War II. Over the next several decades, carpooling became the norm as a way to boost efficiency and save valuable resources.

Over the last few years, new sharing economy companies have cropped everywhere, offering everything from cars and homes to unused “stuff” and scooters. Now the latest iteration of motorcycle sharing is giving casual riders the ability to experience the ride, and owners the ability to capitalize on their passions.

The benefits of ridesharing

• Initiate new riders into the sport

For anywhere from $75 to $100, new riders can lock in a day of adventure on an amazing bike that they might never even think to buy in real life. It gives the ordinary Joe with a casual interest in riding the ability to live out his dreams in a grand way, at minimal cost. And it gives serious riders the ability to test out a new ride before they buy their own.

• Offset the cost of that new bike

After spending thousands of dollars on that bike in your garage, renting it out when not in use might sound like a great idea. You can make a few dollars, and, depending on how actively your bike is rented, make a chunk of your investment back.

 The downside of ridesharing

The motorcycling culture is spontaneous and freedom-driven. Will this culture fade away and be replaced by a new motorcycling generation that lives by the calendar and the dollar? It may be too soon to tell. But if the growth of the ridesharing culture continues to hold true into this new phase, it’s possible that bikers will increasingly hand over the keys to the freedom and spontaneity they love. That is unless you happen to have six bikes sitting in your garage.

Is ridesharing a good fit for motorcycle culture? Would You Rent Your Motorcycle to a Stranger? We want to hear from you.