Contents:

    In this episode, I’m chatting with Guillermo Cornejo of Riders Share, an Airbnb-type service for motorcycle riders. Really excited to share this with you – you’ll learn a ton about the motorcycle industry, Guillermo busts some motorcycle myths for us, and we’ll cover the challenges facing this industry as well.

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    Intro to Guillermo Cornejo

    • Guillermo Cornejo of Riders Share, an Airbnb-type business for motorcycle riders and owners
    • Founder and CEO
    • Has over 10,000 motorcycles on the platform
    • Has raised $2 million in VC funding

    Riders Share

    • Riders Share – can expand into things beyond motorcycles, so the name was long-term thinking
    • Concept has been successful with cars, RVs
    • Motorcycles are an expensive asset, not widely shared
    • First company to launch with an insurance policy for motorcycles

    Renting on Riders Share

    • Can rent a motorcycle around $100 through Riders Share (includes insurance)
    • Exploring new cities on motorcycle – nothing like it!
    • Unique marketplace for consumers
    • Most customers are travelers who rent while traveling

    Future Growth Opportunities

    • Need to have a motorcycle license to get on the platform – limits number of people who can sign up
    • Starting with experienced riders first
    • Opportunity to move into different types of riders depending on safety, risk factors
    • Most brand-new motorcycle owners are older

    Popularity of Motorcycles in the US

    • Scooters, motorcycles, etc. more popular in other countries
    • A lot of people in the US consider their motorcycles as their ‘babies’ – makes sense since they are expensive
    • However, money typically gets people to rent out their motorcycles
    • One owner made 10% ROI by renting out his motorcycle
    • Owners set their own prices – one owner is making over $10,000 a month

    The Future of Riders Share

    • Don’t need millions of riders to be successful
    • Demand-side potential is strong
    • Goal is to be inexpensive enough to encourage people to use motorcycles, get used to them, etc.
    • Opportunity to use highway-approved scooters for delivery, rental

    Outro

    • Big thanks to Guillermo for coming on the podcast!
    • Covered a lot about motorcycles and the business
    • Excited about the progress of Riders Share in the future!
    • Imagine riding a Harley in Hawaii!

    Show Notes

    Harry Campbell

    Harry Campbell

    I'm Harry, the owner and founder of The Rideshare Guy Blog and Podcast. I used to be a full-time engineer but now I'm a rideshare blogger! I write about my experience driving for Uber, Lyft, and other services and my goal is to help drivers earn more money by working smarter, not harder.