A lifestyle. Not a job.
TOPIC: July “Share” Rent
Let me offer my thought process:
Renting in shifts creates more wealth. Riders take better advantage of the shifts they receive. They plan for the “most efficient possible day” rather than “the longest day their capable of”. I ask myself “am I creating 30% (55 over 40) more wealth by renting the bikes to 25 instead of 16”? I believe it’s a simple ‘yes’.
The “sharing” day rentors will all get in at least 7 hours of high earning hours. Not all “sharing” riders of capable of taking full advantage of “double” stints. Few have expressed strong interest. As a cost, I believe rent for all riders will come out to the same % cost (roughly 1/8th) of rider earnings, which I hope we can all agree is “willfully generous”.
Yes, “opportunity cost” in absolute terms to individual riders who would have had a “double” bike (were I to only rent to 16 riders), is on the order of a day of renting. This, then, is a hell of an incentive for all to be a “heavier rentor” to have a chance at a double, which is precisely what I’m after.
But on the flip side, 7 riders (17-25) would have earned no money at all in that hypothetical world. They would have been sidelined They’re “opportunity gain” is more than an average day of rent.
I can absolutely feel the sting myself. Geoff already set a stake in the ground. “I’m not getting a bike all day, and I’m paying over half of rent.” (I, it’s worth noting, am not riding to allow for others to.) “I am losing out on hundreds of dollars. He’s getting more money out of rent because he can.”
That said, it is common in pedicab pricing to have shift a, shift b, and a “double” at some discount.
I don’t need to mention the value proposition as compared to green team.
Lastly, all of the riders who are slated to share were brought on with an understanding of the possibility they might not have a bike at all. Framed as “the opportunity to make 8 times rent fairly easy for a full 7 hours on a major day” vs “the inability to make as much as the ‘veterans’ due to bike demand”, makes a big difference. Then $55 looks very, very cheap.
(For full disclosure, in two instances, I verbally indicated “a bike all day” may be available when it not be. That is on my head.)
I thought about this. It was difficult.
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