[sustran] First Modern Bicycle Rental in Mumbai

[Faizan Jawed]

http://getahead.rediff.com/report/2010/mar/04/meet-eco-entrepreneur-v-ramesh.htm
This CEO quit his job to become an eco-entrepreneur
March 04, 2010 08:42 IST

[image: V Ramesh]A year ago when V Ramesh was 48, an age when high-fliers
look for the glorious last lap before reaching the age of retirement, he was
bit by the entrepreneurial bug. He called it quits as the CEO of a
non-banking finance company to pursue his eco-friendly passion.

After slogging over his bicycle-on-share concept for the last one year
Ramesh has finally introduced FreMo (freedom to move; http://www.fremo.in/)
India's [ Images <http://search.rediff.com/imgsrch/default.php?MT=india> ]
first state-of-the-art bicycle sharing programme. The project envisages
helping the commuters cover the first and last mile of their daily travel to
the railway station or bus stop.

"Every day about 7 lakh people come to Thane (a distant suburb on the
outskirts of Mumbai [
Images<http://search.rediff.com/imgsrch/default.php?MT=mumbai>])
railway station from different parts of the city. They come by cars,
motorcycles, buses and auto rickshaws. However, a lot of time is wasted as
people keep waiting endlessly for an auto rickshaw or a bus to ply them to
their destination. Besides the traffic congestion makes it worse," says
Ramesh. He said that his programme intends to give relief to the commuters
who want to opt for an economical, eco-friendly and healthy ride.

The word sharing is a misnomer as it implies something that comes for free.
"I also don't want to use the word rental as people have a very different
idea about rentals. Though bicycle rental no longer exists in the city, it
implies that the vehicle had to be surrendered from the place where it had
been hired. Thus there is no concept of freedom in the rental system," said
Ramesh.

He clarifies that 'sharing' does not mean 'free' but compared to other modes
of transport it is more economical. As per Ramesh's estimates bicycle ride
will enable the members to make a saving of Rs 30 to 40 a day on travel
expenses.

What Ramesh is offering is brand new unisex bicycles along with lock,
helmet, bag and raincoat (during monsoon) that could be picked up from any
of its six depots and similarly deposited at any of its five depots. The
cycles carry radio frequency tags and members have smart cards containing
the information of time of delivery, identity of the cycle and mention other
accessories being taken.

The membership process is similar to the mobile service providers -- choose
the plan, make payment and submit documents. The payment is also similar to
mobile service providers with the options of both pre-paid and post-paid
available.

Owning a bicycle, explained the entrepreneur, comes with the responsibility
of maintaining it regularly. "Regular maintenance of bicycles is a big
dampener for its owners. Often bicycles are seen rotting in and around the
buildings," said Ramesh.

Mandar Datar, a businessman who has his office at Kalwa in Thane, says he
was unable to maintain his two bicycles that were used by his office boys
for running errands.

"FreMo had opened its depot near my office and I enquired out of curiosity.
Maintenance of bicycles was a problem and hence opted for this scheme on a
trial. It is almost two months and everything is running smoothly," said
Datar who is glad that he opted for FreMo.

It is not just businessmen who are getting the bicycles for their staff.
Ramesh says that some of his members own cars and motorcycles. After his
voluntary retirement from the banking sector Shekar Swaminathan (56), a
health conscious person, alternates between walking and cycling on the
picturesque Yeoor Hills. "Besides using the cycle for exercise I also use it
to commute the 3 km distance between my residence and Thane railway station.
Getting on public transport is difficult and so is driving a car. So this is
the most sensible way to commute to the railway station," said Swaminathan.

Though he had initially intended to start 40 locations across Mumbai and
Thane, availability of funding limited the programme to Thane.

"As a CEO of stock broking servicing corporate clients I was dealing in
voluminous amounts of money and Rs 2 crore envisaged for my project seemed
like cakewalk to me," said Ramesh. To raise the money was easier said than
done. Ramesh finally got his funding from Bank of Baroda [ Get
Quote<http://portfolio.rediff.com/quotes/bank+of+baroda>].