How to Start a Shared Power Bank Business? [6 Steps]

In the past, most people adopted the wait-and-see attitude on the shared power bank business, and some of them are even not optimistic about this power bank sharing industry.

However, as consumers’ shared power bank renting habits formed gradually, companies who entered this industry early have built mature profit model, more and more entrepreneurs have turned their attitudes. Now they want to have a try, too! Here comes to a question – how to start a sharing power bank business?

In this blog, we would introduce you 6 steps to start the shared power bank business for reference. And you can also make some adjustments according to your own actual situation. Firstly, you can have a look at the table of contents as follows to know the general content of this blog:

Now let’s check the steps to start a shared power bank business one by one in details!

Step 1: Do a survey on your target power bank rental market

Before entering an industry, we need to know the industry condition like the industry trends, competition condition, industry sore points, target customers’ features, consumers’ reviews… And the power bank rental market is also like this.

Having known what power bank sharing is, and figured out if the power bank sharing business is profitable, this shared power bank business may successfully raise our interests in having a try. Well, before entering this industry, we need to know enough market data, then we can find the potential business chances for ourselves, know how to make a plan, so that we are more likely to succeed in this power bank rental industry.

For instance, if your target market is the United States, you need to know if the local power bank sharing renters are more and more, the competitors’ quantities and strengths, where your target customers are, local users’ impression of the shared power banks… If you have more questions about the power bank rental market, you can ask us at any time you like via the “Inquire Now” button.

Having collected enough power bank rental market data, it’s time to decide your business model according to your own conditions.

Step 2: Make sure of power bank sharing business model

Generally speaking, here are 2 models for the shared power bank business. One model is to build your own brand, the other is to join an existing brand as its agent.

1. Agent companies directly look for suitable suppliers

If your competitors are so powerful that you can’t beat them, to join them and become their partner is also a good choice. Under this condition, your partners will also be your suppliers, you can directly buy your partners’ sharing power bank hardware, software, and even their technique support. Next, you just need to build your own business team and service team.

2. Brand companies decide customizing items first, then find suppliers

On the contrary, if your competitors are at the early stage of their business, and not mature enough, you don’t need to be afraid of them. Just establish your own brand and cultivate your devoted users now~

When your brands are more and more famous, many other companies may express interest in joining you as agents, which may help you further expand your power bank sharing business, and save some labor cost (the business team) and time cost. Excellent!

If you take this model, you need to decide the customizing items first. To customize the shared power bank hardware, the power bank sharing software, or both? To take the OEM or ODM customization? Then you can find a suitable supplier.

Which business model is better?

To be honest, to build your own brands are obviously more profitable in the long run if you can. When your brand value rises, your profits will be higher because of the brand premium, and more and more potential users will be attracted to try your service by your good reputation. Moreover, as your market share expands, you can adopt multiple business models, and your business risk will be lower correspondingly.

Now that both the market information and the business model are clear, it’s time to find a reliable supplier!

Step 3: Search reliable suppliers for your shared power bank business

A good supplier can help you save much time and energy, and time is money to some extent, so how it is important to find a reliable supplier! Then do you know the main features a reliable shared power bank supplier should have? Actually, if your aims and requirements are different, the features of the supplier that is suitable for you also differ.

1. Different features for reliable supplier when aims differ

Aim 1: Search a shared power bank hardware supplier

Requirements:

• The product hardware should be qualified.
• The delivery should be on time.
• The price should be at the market price or a little bit lower.
• The service should be good, 24 hours online.
• Need the hardware technique support.
• Need the OEM/ODM customization.

Reliable supplier features:

• The supplier has a factory or at least a long-term cooperation factory to promise the product quality, delivery time, and the affordable price.
• The supplier should have the customizing qualification, in other words, it should be fully equipped to produce the products totally according to clients’ customizing requirements.
• The supplier has the hardware technique team to offer technique supports if only clients need at any time.
• The supplier has the specialized service team so that clients don’t need to worry about any trouble because the supplier will help them out of trouble.

Aim 2: Search a shared power bank software supplier

Requirements:

• The supplier should have strong software strength.
• The using experience of the software should be good.
• Need the technique assistance if there are bugs.
• The software should be updated automatically irregularly to keep up with technology iteration.
• Need to customize the operation interface and functions.

Reliable supplier features:

• The supplier has the technique team to be capable to satisfy various customizing requirements of clients, to find and solve bugs, to promise the smooth operation of the software and good using experience.
• The supplier has the professional online service team to help solve problems in time for clients.

Aim 3: Search a one-stop power bank sharing solution supplier

Requirements:

• Need to customize both shared power bank hardware and software.
• Need the hardware with good quality and the software with good performance.
• Need both hardware technique service and software technique support.

Reliable supplier features:

• The supplier has the both the hardware and software technique teams.
• The supplier has a factory or a long term cooperated factory, and the production workshop are fully equipped and orderly managed.
• The supplier has the mature service team which can help clients solve all kinds of problems.

Aim 4: Search a supplier whose power bank sharing brand is famous to join them.

Requirements:

Don’t want to worry about the products and techniques at all, or to spend too much on the brand promotion, just want to do the business with the offline resources you already have.

Reliable supplier features:

• The supplier has built its own power bank sharing brand which has been more and more famous, and even formed the brand influence.
• The supplier is strong in both hardware and software.
• The supplier has good service, and you can get help in time when you are in trouble.

You can figure out your own aims and requirements, then find appropriate power bank sharing suppliers. And you can take the features a reliable supplier should have mentioned above for reference. Of course, if you prefer an easier approach to finding a supplier, you can check how to find a good power bank sharing supplier, or directly contact us by clicking the following “Inquire Now” button.

2. HeyCharge is a reliable power bank sharing station supplierHOT

HeyCharge, whose slogan is “100% Light Your Success in Power Bank Sharing Business!“, is a ready one-stop power bank sharing solution supplier which offers both power bank station hardware and software. Besides, we provide our customers with necessary business training and operation tips to help them run their business more smoothly and make more profits.

Our target is to help our partners launch their power bank sharing business rapidly and occupy as much target market as possible, with our qualified products, professional techniques, dedicated service, and extensive industry experience.

We have our own factory and engineers, and we can make your all kinds of customizing ideas come true. And we have won good reputation with our good quality products, excellent services, and competitive prices.

Furthermore, we paid much attention to our brand promotion, and our brand Heycharge is getting known by more and more people. If you want to choose a brand to join in, you can also take us into consideration.

Choose us, you can not only save much energy for your shared power bank business, but also help save resources for our earth, wonderful, isn’t it? Click the following “Inquire Now” button to contact us now~

You have known the power bank sharing market, how to choose your business model, and how to find a reliable supplier. Next, you need a business plan to promise more profits for your share power business.

Step 4: Make the power bank rental business plan

Being in the promising market and adopting good business models can’t ensure success if your detailed business plan fails to attract customers. Now let’s explore how to make a good powerbank rental business plan.

1. Make sure of the venues

The venues’ layout is crucial. Why? If you put your power bank stations at sparsely populated places, I believe it possible that no one rent a power bank for several months.

For another example, if you put your power bank stations at the stores with poor business on a lively commercial street, it is not easy to rent out your shared power banks, either, because many people can’t find your stations, and if your competitors put their power bank stations at the stores with good business by coincidence, your power bank stations may be even harder to be found.

Therefore, you need to ensure that your venues are at the places with high traffic and long business hours. For example, the cinemas, theaters, bars, commercial streets, parks, tourist attractions, stations…

By the way, the outlet density should not be too low. That is to say, every 2 venues should be not too far apart or the users will not choose your service, because it may be easy to rent a power bank but too hard to return it back. Want to learn how to cooperate with more offline stores to make the density higher? Click the following “Inquire Now” button to contact us for some tips now~

2. Choose suitable power bank stations

You should put suitable power bank rental machines at different places, or it is hard to seize the traffic as much as possible. For instance, if you deploy the powerbank station which is not waterproof or high temperature resistant at the outdoor tourist attraction, your power bank station will go wrong soon, and you can imagine how much your loss will be.

Even if your shared power bank station suits the circumstance of your venue, if the power banks contained in the station are too few or the recharging speed of the station are too slow to satisfy the renting demand, many of your target users will be attracted by your competitors who do better than you in this part, it is not a good thing for your shared power bank business obviously.

Therefore, in order to make your shared power bank business goes more smoothly, you’d better choose the suitable power bank stations. For example, the waterproof and high temperature resistant stations are suitable for outdoor venues, and the power bank stations with more slots for the venues with high traffic. If you want to know more details about how to choose suitable power bank stations, feel free to contact us by the “Inquire now” button below:

3. Set reasonable shared power bank renting price

People prefer affordable products when other conditions are the same or similar, it is the human nature. Therefore, it is necessary to investigate the local market price first, then set your price. If your price is too much higher than your competitors and you don’t have any outstanding advantages, you can’t win much users and make profits.

Till now, you have been at the right industry, had the good product resources, strategically laid out venues, made mature business plans. So you are capable of attracting many customers and make much profits.

However, if you want to keep your good profits longer, you need to maintain good relationships with your customers. And the good service is the key without any doubt!

Step 5: Build the service team for your shared power bank business

How to build a good service team?

• Firstly, the service time should be long, it will be better if you can offer 24-hour service.
• Secondly, the service team members should be well trained and can return the useful tips for customers as soon as possible.
• Thirdly, the service attitude should be kind. Sometimes, even if you can’t help solve all problems perfectly for your customers, if only your attitude is good and let them known that you have tried your best, they also would feel grateful for you rather than blame you.
• Finally, collect the customer reviews timely, and improve your service quality continuously.

Keep your good service all the time, as time goes by, the trust between your customers and you will be successfully built up. And you reputation will be better and better, and more and more users would love to try your products and services, then your shared power bank business will be more and more profitable. How valuable a good service team is!

Step 6: Analyze data and adjust power bank rental business plan

Now it’s time to check the results. The data shown on your power bank sharing admin system will show intuitively your profit status. You should check the data on the real time, and analyze them. Then you can find your shortcomings, according to which, make some adjustments on your power bank rental business plan in time. This way, your shared power bank business can be better and better.

Final words

In conclusion, if you want to start the shared power bank business, you can follow the 6 steps introduced above and make some adjustment according to your own conditions. And I believe that these steps are meant to be helpful. And if you have any questions about these steps, you can directly contact us by clicking the following “Inquire Now” button, and we are willing to help you~