American Motorcycle Dealer AMD 229 August 2018 | Page 56
Motorcycling and the Sharin
In the second part of his analysis of the changes taking place
in the market, ‘GarageTime’ owner Andrew Koretz says that
while it may challenge the motorcycle industry orthodoxy, the
sharing economy is a response to many of the demographic
changes that are happening and that riders have never had
more options…
nce upon a two-stroke,
advancements in motorcycle
technology focused on material
science and mechanical
engineering to create lighter
components, safety equipment to better
protect the rider, and harder revving, fuel-
conscious engines. The future of motorcycling
is indeed centered around technology, but the
focus is on creating and delivering accessible,
cost-effective and digital solutions for
tomorrow’s rider.
It is often contemplated how we have gotten to the
point where technology has dominated our lives and
if it’s really for the better. Evidenced by the increasing
density of our urban environments, wages that don’t
keep up with the cost of living, educational debt
hanging over the heads of many, and non-stop
personal and work schedules, it’s no wonder we’ve
turned to technology for assistance.
That technology has manifested itself in the form of
Uber, Airbnb and others in the sharing economy that
allow individuals to rent or borrow goods from each
other rather than buy their own. These companies are
disrupting traditional establishments by creating
frictionless solutions, lowering the cost of services, and
building loyal communities. The sharing economy is
now coming to motorcycles, recognizing the unmet
demands of the next generation of riders, and
challenging the barriers to riding in today’s
O
‘disrupting
traditional
establishments’
56
AMERICAN MOTORCYCLE DEALER - AUGUST 2018
environment.
By lowering the barriers of time, space and cost, the
sharing economy is helping make motorcycles more
accessible than ever before. There are 9 million
registered motorcycles in the United States for 30
million licensed riders. Additionally, the average
motorcycle is ridden less than 3,000 miles per year.
With a large population of interested but inactive
riders, as well as a fleet of underutilized bikes, ‘Riders
Share’ believes that these existing bikes should be
shared, lowering the cost of ownership and access for
all. The peer-to-peer motorcycle rental marketplace
helps bike owners offset ownership costs by listing
their bikes for daily or weekly rental on their website.
Renters can access a catalog of bikes on-demand,
ranging from a $32/day Vespa to zip around town, to
a track-ready Ducati for $200/day. Riders suddenly
have a fleet of available bikes to use on weekends or
while traveling, as well as a de-facto test ride service
before taking the plunge on a new purchase. The on-
demand element allows renters to forego not only the
cost of purchase, but also maintenance, parking and
insurance expenses.
By sharing their motorcycle, bike owners can cover a
lease payment with only a couple of rentals per month.
Prospective renters must have had their license for 3
years, a clean background, and sign-off from the bike
owner. In the event something goes awry, the entire
transaction is insured under a private policy.
As housing costs continue to soar, garage space is at
an all-time premium, and young enthusiasts are
becoming more disconnected from their motorcycles
and the habit of basic maintenance. ‘GarageTime’
is a website that lets enthusiasts rent daily do-it-
yourself workspace from their neighbors, helping
inspire the next generation of passionate DIYers. By
connecting garages wanting to utilize their vacant
space with motor enthusiasts eager for shop access,
By Andrew Koretz, GarageTime
GarageTime leverages existing assets, helps garages
earn extra income for dream projects, tool costs and
home expenses, and helps build strong micro-
communities of local enthusiasts.
Garage owners set their pricing, availability and rules
when creating a listing. Shops range from a home
garage with basic wrench set to a full commercial
service station with use of air tools, vehicle lifts and
mechanic assistance. GarageTime is a useful resource
for motorcyclists on the road, offering a network of
enthusiasts to turn to for an oil change, replacing a
chain or mounting a new tire. By taking advantage of
the spaces and tools already in existence, budding
motorcyclists can save money, learn additional
maintenance skills and don’t need to take out a
mortgage to have shop space.
One of the most overlooked sharing economy
‘the average
motorcycle is
ridden less than
3,000 miles a year’
www.AMDchampionship.com