In today’s day in age, starting a business is one of the most lucrative investments we can make. Technology makes it very easy for us to create a website, put up our contact information and immediately start generating phones calls about your service of product. You can literally have your site up and ready to go within 24 hours. Since it is so easy to create a website and start a business, many people will start businesses and never generate enough traffic or visitors to their website. Since there are a great number of people starting local businesses and they are need local advertising then you could profit from starting a local pedicab advertising business. You could charge local businesses an advertising fee so that your pedicabs can have their logo and contact information to create brand awareness. This is great because pedicabs typically travel around the city giving tours.
You can hire those right out of high school or kids right out of college that need to make some extra money and have them make money from the tips they get. This is great because it is basically commission only as they make money off the tips only. You can choose to pay your pedicab drivers anyway you wish but you want to make it as lucrative as possible for the driver and also for your business.
You would have an initial investment of purchasing the pedicabs but then all you would need to do is maintenance to keep the pedicabs up an running. Overall, the business makes sense in areas where its sunny most of the year such as San Diego or Miami. If you are serious about starting this type of business I would recommend you do as much research as possible to get an idea of how much startup costs are going to be.