Financial viability of a Cycle Hire schemes to avoid vandalism

Abstract

This project is concerned with the introduction of a sustainable bike hire scheme at Swansea University to improve the university's sustainability agenda as well as the bigger goals set out by society. The layout of the scheme was based on discussions that took place, an assessment of existing transport requirements, and an analysis of the other universities' plans. The study revealed important aspects in the aspect of environmental conservation, especially about transport, together with other issues to do with security, maintenance, and financial aspects. A survey and consultation of initial trends reveal a positive attitude towards the accessibility of the bike hire scheme within the university. The goals of implementing the project are as follows: To decrease acts of vandalism, and stealing at least up to 50%, to attract at least a thousand active users during the first year and reach financial profitability within 18 months. Also, the goal is to have an 80% overall customer satisfaction level, reflecting that customers widely use the system. Our analysis of the Santander Cycle Hire Scheme in Swansea has revealed several important key findings. The scheme has demonstrated significant growth since its inception, with increasing user numbers and expansion of docking stations. However, the scheme faces challenges in customer service and bike maintenance, indicating a need for improved management services. Vandalism remains a persistent issue, although recent introductions of GPS tracking and improved locking systems show promise in mitigating this problem. While the scheme's pricing strategy balances accessibility with revenue generation, some docking stations have been temporarily shut down due to financial underperformance, highlighting the need for strategic placement and management. To address these challenges and enhance the scheme's effectiveness, two key recommendations are proposed. First, implementing a Tiered Membership Program would incentivize responsible usage, foster customer loyalty, and enhance the scheme's 10 of 90 reputation. Second, integrating ID scanners into the bike-sharing app would improve user authentication and safety. The ID scanning feature would also support age restrictions for e-bikes and help create more personalized and efficient services. In addition to these primary recommendations, the implementation plan includes the use of CCTVs, strategically placed hubs, GPS trackers, and biometric technology to further enhance security and user experience. These measures, combined with the Tiered Membership Program and ID scanners, form a comprehensive approach to addressing the challenges faced by the Santander Cycle Hire Scheme at Swansea University. By adopting these recommendations, the bike hire scheme can overcome current challenges, enhance its operational efficiency, and contribute significantly to the university's sustainability goals while providing a convenient and eco-friendly transport option for the campus community.