Starting a power bank sharing business — What you need to get started
With a power bank sharing business you supply stations with power banks for people to pick up and bring with them, charge whichever device, and return to another station. Perfect for when you don’t have a charger, don’t want to buy one, or simply want to get on with your day when your phone’s dying.
According to PwC, the sharing economy is projected to grow to $335 billion by 2025, with globalization and urbanization being the most important drivers of this growth. They’re also the biggest drivers of the popularity and growth of the power bank sharing market.
How it works: a station has multiple power banks that are charging while they’re docked. It also has its own software that’s connected to the mobile app. Through this app, a user is able to locate a station and see how many power banks are available. At the station the user scans a QR code, the app sends a request to the station, which releases a power bank. The user gets charged a small hourly rate to charge their phone. After the user has charged their phone, they can use the app to find another station and return the power bank to any station with free slots.
Popular locations for power bank stations are for example restaurants, cafes, shopping malls, amusement parks, festivals, conference venues or anywhere where a person might run out of battery.
Power bank sharing can be a great business opportunity that doesn’t require a massive investment, unlike other sharing economy startups like car sharing and scooter sharing. It’s also made even easier due to the possibility of franchising.
The power bank sharing system consists of five elements that you’ll need to invest in to get started:
Power bank stations. There’s a lot of options regarding size, design and functionality that are suitable for different kinds of venues.
Power banks. Here too there are different options regarding design and cords etc. You also need to consider the risks: your power banks may be stolen, lost, or damaged, so you’ll need to invest in their replacement and maintenance.
Software for the charging stations. A crucial part of the system as this is the connection between the station and the app. Needs development to make sure it works perfectly and fits your market and your needs.
Power bank sharing mobile app. Facilitates the whole user journey from finding a station, renting a power bank, paying, and returning it. This is how your users interact with your service and great functionality and user experience is critical for your success.
Admin and operations panel. The part of your software’s back end that ties together all parts of your system. Allows you to manage the day to day operations, the stations, maintenance and customer support and see statistics on your rentals and app usage.
When these elements are in place you are truly ready to launch your business in terms of sales, marketing and brand strategy to actually place stations and make your network as useful and profitable as possible.
No matter how you choose to enter the power bank sharing market your business will need at the very minimum everything mentioned above. There’s different ways to accomplish this. One way that has gotten more and more realistic when the already existing companies are getting more mature is to franchise.
You can find more articles about the partnership and Brick here.
The start-up cost of becoming a Brick partner is €4 000. For many, 20 stations and a passive income from their Brick stations is more than enough. To others, it is an opportunity to build a large-scale business without having to add a range of operating costs.
See full revenue calculations or go ahead and apply to become a network partner
