The Singapore-based e-scooter maker “Beam” has recently announced fundraising worth $93 million in Series B. Know everything about their business model in this Beam e-scooters case study.
The world is shifting fast from traditional to these electric vehicles due to high fuel prices and other challenges. Not just Beam, the success of other EV startups has already proved the worth of adopting these electric vehicles.
So, what is the Beam e-scooter startup? And how has it managed to multiply its revenue upto 15x since 2020 (even after the COVID crisis)?
Check out this Beam e-scooters case study blog.
|Founded In||July 2018 (Singapore)|
|Current CEO:||Alan Jiang|
|App Size:||43 MB|
|The number Of Operational Bikes:||12,000+|
|Top Competitors:||Spinlister, Zagster, Motivate International|
In July 2018, founded in Singapore by Alan Jiang, Beam started its e-scooter business to promote nature and pocket-friendly rides for its users.
It provides its mobile app to unlock EVs by scanning its QR code labeled on Beam electric scooters’ handles. Also, this app helps riders with navigation to reach their final destination.
Right now, the Beam’s e-scooter rides are only available in some selected cities of these countries:
Talking over its listed EV models, Beam comes with two electronic vehicles labeled Beam Saturn (e-scooter) and Beam Apollo (e-bike).
Beam has set up its parking space with the help of local shops. Know its parking space program in the next section of Beam e-scooters case study.
All Beam EV models are parked at specific locations in selected cities where their business operates.
Beam managed to get parking space for their electric bikes and scooters by running their Beam booster program. In this program, the local business provides parking space to Beam riders nearby their shops.
While in return, these local shops enjoy their free business promotion, which brings in more customers to their shops.
This Beam e-scooters case study will show you its money-making model in the next section.
This e-scooter business makes money by providing its EV models on rent. Beam takes rental fees for its riding time per minute. These rental fees depend on the parking areas, cities, and countries.
They have also invested their fund in environmentally friendly projects that bring out future returns.
Also, they offer insurance programs for personal accidents and loss of income for users on its platform, making another revenue source for this business.
Know its top features in the next section of the Beam e-scooters case study.
The features of the Beam EV have risen its market share from bottom to top. The Beam comes with many features that become everyone’s priority when riding on an e-scooter.
Have a look at the features of these e-scooters that everyone must know:
Along with Beam, many other e-scooter brands such as Mobike, Lime, Jump Bikes earn between millions to billions of dollars. Also, look at these public EV adoption figures; the worldwide available public e-bike from 2013 to 2022 has increased by 700,000 to 3.5 million.
All these are enough to understand the overall profit potential in the e-scooter business. Also, have a look at the fast-growing market share of these electric scooter businesses
If you are also interested in entering these e-scooter businesses and want your scooter app, you must check out this blog: How to start your e-scooter sharing app
Publishing an e-scooter app can be a better option to earn profits from your business instead of manufacturing e-scooters or starting an e-scooter business from scratch.
Here’s are some points that will make you think about scooter app development twice:
There is a massive demand for e-scooter apps for making more accessible journeys for their customers. You can notice significant incoming traffic on your app once you publish it. You need to integrate some unique features in your e-scooter sharing app to bring up some value in their riding.
Right now, very few businesses exist in the e-scooter market. It makes a better opportunity for us to enter this market and take out huge profits. You can easily make a big user base on your platform with an e-scooter sharing app.
Many investors are already looking for the perfect e-scooter sharing app to invest their money. Once your e-scooter-sharing app attracted investors, you can expect huge profits in your app business.
In e-scooter app development, you don’t need to set up your business from scratch. You need to partner with some profitable e-scooter businesses, and you are good to go. Also, your partnered e-scooter business will recommend their users to download your app for app promotion.
Due to low competition, many ideas remain to bring in real life for the e-scooter business model.You can provide some out-of-the-box ideas such as promoting other businesses by offering discounts, suggesting minor traffic-loaded roads, and even more.
Have a quick view of the basic features of every e-scooter app with this image.
Once you decide to develop your e-scooter sharing, you must be wondering about the features and services that every e-scooter app provides.
For that reason, have a look at some of these basic features that must be on your e-scooter sharing app.
This feature help riders find nearby available e-scooters from the app installed on their devices. Developers can integrate map features in their app with Google Maps API for android platforms and Mapkit framework for iOS platforms.
This tracking will help riders to calculate their destination’s distance and time from their current location. GPS is best for riders to explore new and unknown cities and enjoy the ride of e-scooter.
With this feature, riders can monitor their riding activities throughout the day. These stats can improve their riding experience and encourage riders to choose e-scooter for their following rides anytime.
In-app payment integration helps riders pay instantly for riding straight from their mobile app. You can offer as many payment options to cover up a vast user base that uses different payment options.
These options can be debit/credit cards, mobile wallets, cryptocurrencies, etc. Along with these, the most common integrated payment gateways are PayPal, Braintree, or Stripe.
So, after looking at these points, what do you think? Isn’t it a perfect time to enter this e-scooter or other EV businesses?
This Beam e-scooters case study has already proved the worth of starting a business in electric vehicles. If you are looking for perfect investment opportunities by starting your own e-scooter business, you must reach out to teams that are well engaged in these EV businesses.
You can contact Idea Usher’s team to get an all-rounder’s help to start your own e-scooter business.
Some questions and doubts may come to every investor’s mind. No worries! You can go through all these questions to get a quick fix for your doubts:
App development costs depend on many factors such as e-scooter models, cities, location, taxes, etc. There are many ways to start an e-scooter business and all these demand different investment funds for their initial start.
Contact Idea Usher’s team to get complete guidance.
You can reach an app development company that already has developed a fully functional e-scooter app. Idea Usher has the better experience to develop such apps for the e-scooter business. Contact us now, and get full support in your e-scooter business.
After developing your e-scooter app, you can contact a digital marketing business that will help you promote your app campaigns. Also, along with app development, Idea Usher can help you with app promotion with their successful digital marketing strategies.
You will face such scenarios when making some changes or providing some updates in your app.
Still, if you face some technical issues in your e-scooter sharing app, you can contact the Idea User team to get a final fix for your app’s technical issues.
Not necessary, you can rent out an e-scooter from their manufacturer. Once your e-scooter app turns out to be profitable: then you are free to decide to buy an e-scooter or not.
Also, you can provide another alternate service in scooter-sharing apps that are untouched or not applied in the e-scooter business yet. For example, you can design an e-scooter rewards app to choose an electric vehicle to save the climate, or you can provide an official social platform for e-scooter and EV lovers.
Idea Usher is a pioneering IT company with a definite set of services and solutions. We aim at providing impeccable services to our clients and establishing a reliable relationship.