Since I work downtown a lot, and I am always rooting for startups, I’ve been keeping an eye on the bike-renting service “Pronto.” I think it’s a cool idea, and with enough manipulation, you can kind of shove this square peg into the circle hole of The Collaborative Economy. So that intrigues me as well.
So this week I wanted to use the service to get about 9-10 blocks across downtown. And here is where I found out that I think they may have a simple to fix problem – pricing.
Pronto will let you rent a bike for 24 hours for $8. It seems like a paltry amount to spend. But I don’t need a bike for 24 hours. I need a bike Car2Go style – for 5 minutes to get to my meeting across downtown, and then an hour later I need it for 5 minutes to get back.
For $8, I can hop in an Uber. For $8 I can buy a sandwich and eat it as I enjoy a 15 minute walk. Sure 8$ is only $.33 an hour. But I only need the bike for 4% of the time in which I can have it. I’d rather pay 5-10x that $.33 per hour rate, and get closer to 70-100% efficiency.
That’s my use case. Maybe I’m unique. But I really want this company to succeed, so I’m curious why the pay by the hour model isn’t a viable alternative. Regardless, there seems to be more and more Pronto stands popping up all over town, so they must be doing something right.