BoBikes making a LOSS!

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This topic contains 6 replies, has 6 voices, and was last updated by  malcolmb1963 6 years, 6 months ago.

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #74833

    jamsandwich
    Participant

    From the BBC article

    “Yet according to a recent London Assembly report, it is set to lose around £10m in its first year and there are no signs of it breaking even for many years to come.”

    Again – WHAT THE HELL!.

    actually I can understand how it is making a loss – I can never hire a bloody bike when I want one – thats a couple of quid a week down the swanny right there!

    How can something that appears to be “a roaring success” end up as a white elephant.

    #84402

    7209
    Participant

    Find me a business that makes a massive capital investment AND a profit in the first year & I’ll show you 10,000 that don’t!

    #84403

    nic.wise
    Participant

    I’m surprised it was ever expected to make a profit. At the current costs, things like the tube and busses don’t make profit, so why should BB?

    #84404

    malcolmb1963
    Participant

    I haven’t seen it stated anywhere that the scheme is expected to make a profit. It would be nice if, one day, it managed to cover it’s running costs though.

    For me it HAS been a roaring success – I reckon I’ve saved a fortune over the last twelve months – I auto-renewed today so when I’ve had time to do do the figures I’ll post a comparison of my spend on Oyster and BB in the last twelve months and my spend on Oyster in the twelve months prior to the start of the scheme.

    #84405

    acedia
    Participant

    Great loss-leader. Works as a great advert for people who were thinking about cycling but didn’t want to invest in all the gear, but now are tempted and great tourist attraction, no city worth its salt is without its city bike scheme.

    Roads, trains none of them have any made any money, but people need to get around and cycling in 21st century London on medium-length journeys is the ideal solution to over-crowded roads and tube trains.

    #84406

    radii8
    Participant

    Public transport should not be run for profit.

    #84407

    malcolmb1963
    Participant

    I just got round to running the figures:-

    12 months to 30 July 2010 – Oyster Spend £481 (about 6 months of that I was walking Euston to Liverpool St in the mornings to save money).

    12 months 30 July 2010 to 30 July 2011 – TFL Spend £90.00, £48.00 access (inc £3 key fee) 2 x Oyster top-up at £20 and 2 x £1 for going over 30 min.

    VERY satisfied – even if had occasional problems finding a serviceable bike or vacant docking station.

    AND – it’s generally quicker than the bus and much more pleasant than the bus or tube.

    Forgot to add the £25 for a helmet and £15 for waterproof trousers – but hopefully they will last for a while.

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