It’s not surprising or alarming to see a bike tied up somewhere with a missing wheel or seat. Imagine if the same were true for a car. We have gone to great measures to secure bicycles because bike theft is all too common in the city. However, with Nookhub, the app that connects you straight to nearby indoor bike parking spaces at affordable pricing, you will not need to take as extreme measures to ensure your bike’s safety. This is an invaluable resource for the ~800K bikers in NYC, a figure which continues to grow.
AlleyWatch chatted with CEO and biking enthusiast Angel Ho about the bike parking business and how the company plans to ride the path of success.
Tell us about the product or service.
Nookhub is an iOS app that connects you to a nearby indoor bike parking. The app shows you how many current parking spots at each location and users can simply secure a spot before they arrive. There is also group functionality if you are biking with friends. Currently, Nookhub is partnering with bike shops where you can easily drop off your bike at the store and pick it up when you need it.
How is it different?
People have had the option to park bikes in some of the parking garages in the city meant for cars but the price varies and it’s almost as expensive as parking a car. Some people rent storage units for parking in the city, but that limits them to one location.
Nookhub helps bikers be more efficient in the city. We are building multiple parking locations where users can drop off their bikes using our app. Nookhub is very secure. We want to give our users a peace of mind while they are getting things done. All locations are staffed to help the park bikes as well.
What market are you attacking and how big is it?
Our potential users are the people who bike at least several times a month in cities. New York City has 778,000 bikers itself
What is the business model?
Nookhub users purchase parking spots before make a booking. Users can choose to buy 1 parking spot, 7 parking spots or 22 parking spots.
Every parking spot is available for 24 hour access. When the user purchase 1 parking spot, it’s $7.50; 7 parking spots for $45 ($6.40/per parking); 22 parking spots for $136 ($6.20/ per parking). We are planning to offer a subscription model to our users when we have more parking locations in the near future.
What inspired the business?
I love my bike and I hoped I could ride it to everywhere, without ever having to wait for the subway. I’d like to bike to restaurants or the gym, saving me a huge amount of time on commuting. I grew frustrated not being able to bike everywhere and I did some research about it. I discovered there are almost 200,000 bikes were stolen every year, and more than a million of people share the same frustration as me. Thus, it became my motivation for this startup and I think it could help a lot of people.
We expect to see more bikes on the street every year. NYC just finished 1000 additional miles in bike lane last year and the number of the cyclists continues to grow every year. People are paying more attention to green energy and we as a cycling startup are at the forefront of reducing carbon footprints.
How has Coworkrs helped foster the growth of your business?
I definitely think Coworkrs has helped the business. The clean and friendly environment helps me concentrate on work. The staff is extremely helpful. I have also made some great contacts through some of the Coworkrs networking events.
What are the milestones that you plan to achieve within six months?
We aim to build a strong network with a number of gyms in NYC. We want to create 15 more parking locations in the next six months with a few hundred active users.
What is the one piece of startup advice that you never got?
Speed is the key. Your customers will love your product more if you can answer their questions in no time. Your clients can trust you more if you can respond to their emails or messages immediately. They don’t have much patience on waiting for your answers or feedback, and you want to give them what they want at that moment.
Why did you launch in New York?
NYC is a great city for startups. It has a lot of great resources so you can meet investors or talent through all kinds of events. A highly-dense city with a great number of cyclists on the street every day was a plus combined with the high rate of stolen bikes in NYC. We are proud to be here to help solve this problem in the city
Where is your favorite Summer destination in the city?
Central Park! I often take my bike to Central Park for two loops on the weekends or after work.
