In with the new, but not yet out with the old …
A Citizen Photojournalist photo

– News about Quincy from Quincy Quarry News.

Lime Bikes rolls into Quincy after ofo’s yellow bikes turned out to be a lemon.

That and how ofo bikes are still lingering here and there in Quincy.

China-based ofo bikes bailed out of Quincy two weeks ago – as well as was previously – after it shutdown most of it US operations and now Lime is hoping to somehow or other make a profit via a dockless bike ride sharing model.

As Lime already operates in over a dozen nearby communities, perhaps such may provide it with operating efficiencies.

The only good news is that Quincy has not (yet, ed.) suffered as much as Dallas has as ofo and other bike ridesharing services scrapped their Dallas operations.

In any event, Quincy Quarry was dimed with Citizen Photojounalist smartphone photo of today’s state of bike ride sharing in Quincy.

ofo ends up underwater in the Q
A Quincy Police Department photo

ofo’s sudden implosion of most of its US operations notwithstanding, Quincy City Hall is touting ofo’s time in Quincy as a success.

Quincy Quarry’s forensic accounting personnel, however, uncovered a number of questions about these latest suspect financial claims foisted by the Koch Maladministration.

For example, the City of Quincy’s Director of Traffic, Parking, Alarm and Light stated that ofo bikes had logged 9,000 miles of riding in the Q during its roughly seven weeks of operation in Quincy.

Free fall crash?
A barrons.com image

Small problem, however: given that ofo had rolled 200 bikes into Quincy, such pencils out to a bit less than a mile of riding per day per bike in spite of ofo offering free promotional riding time to those who downloaded its bike ridesharing app onto their smartphones.

Granted, one can only assume that ofo was planning to sell its riders riding habits and related demographics to third parties for some incremental revenue, a mile a day in bike riding use rental revenue is not likely to provide a sufficient basis for Lime to be profitable either.

Especially if one further runs assumes that the average bike rider should be able to ride at least five miles in an hour.

No riding, no revenue …
A Citizen Photojournalist smartphone photo

Per such an entirely rationale pro forma analysis, at ofo’s announced regular rental rate of a dollar an hour, 9,000 miles ridden over seven weeks of prime warm time of the year for riding a bike works out to a rental revenue of only $1,800.

Assuming a reasonable thirty-five weeks of prime riding time annually, such  – in turn – indicates annual bike ridesharing rental revenue in Quincy of only $9,000 to cover Lime’ operating and maintenance costs for its plans to roll out at least three hundred bikes in Quincy.

Alternatively, even if one assume only a mile ridden per hour rented, such works out to only $45,000 in annual revenue during prime riding time.

Quincy Quarry disclaimer

 

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