Investment Opportunity
The company is opening sales kiosks and online sites to sell and rent a variety of EV and Micro Electric Vehicle (MEVs) products to both consumers and businesses.
We offer e-mobility options alternatives to cars, motorcycles, and public transportation including e-bikes, scooters, carts and EV charging equipment.
The company has signed distribution agreements with a diverse list of manufacturers and distributors. The company is currently launching it's "first" market in the Okanagan region of B.C..
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Addressing the $43B electric bike and scooter market
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Sales, rentals, and service for electric bikes and scooters and other EVs including carts
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Executive team with expertise in sustainability and micromobility
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Bootstrapped to date—lean and profitable
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Cash flow positive with an average gross margin of 25% to 35% on all product sales
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Planning for growth on a national scale using online, sales kiosks and mobile distribution/service vehicles
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Problem
Everyone’s riding—but marketplaces aren’t stepping up
The Wall Street Journal recently reported that U.S. e-bike sales rose 190% in a single year. This booming market reflects our growing intolerance for the costs of driving:
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City traffic congestion
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Parking fees
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Vehicle and insurance expenses
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Air and noise pollution
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Sedentary lifestyles
Riders around the world are embracing the affordability and convenience of these Micro Electric Vehicles (MEVs). What’s missing is a trusted retailer, where customers can browse a wide selection of brands in person, buy or rent their favourite products, and have their ride serviced - at home.
Vision
Disrupting the micromobility industry
Other retailers that compete in the Micro-EV space include bike shops, single brand Micro-EV stores, dropship websites, and direct-to-consumer brands.
Relative to these competitors, eRide will offer consumers a unique combination of attractive features:
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Specialized Micro-EV expertise
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Brand selection
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Test rides
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A home service option
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A b-to-b service with ePark
Solution
The one-stop option for riders and businesses
EVWest is a new kind of business with and new kind retail and service approach . Whether online or in-person, consumers and businesses can test ride, buy, and rent Micro-EVs of all kinds:
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E-Bikes
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E-Scooters
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E-Carts
Our product experts curate a selection of Micro-EVs from top brands in Western Canada, with a focus on reliability, serviceability, and quality.
We service what we sell with a service professionals who provide on-site service.
Products and Services
Micro-EV stores and reps with a micro footprint
EVWest has launched our online marketplace, sales kiosk and sales reps in the Okanagan.
The e-commerce site, the eRide sales kiosk and the mobile delivery van represents our core concept:
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A curated selection of e-bikes and scooters
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Mobile repair and service lab
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Convenient drop shipping—minimal overhead
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Functional retail experience—no clutter
Curated selection of Micro-EVs
As micromobility experts, we’re tuned in to the hottest Micro-EVs on the market. Not just e-bikes, but scooters, carts and even paddle boards.
© 2024 EV West | All rights reserved
Business Model
Solid Margins
Average revenue per e-bike sale is $3000, including accessories; scooter sales typically generate $900. Blended margins are currently 25%–35%, and are improving as we increase our e-commerce sales.
We also intend to scale our service and subscription programs to become major sources of revenue. We see a gap in the market for local service centers specializing in micro-EVs, and we want to take advantage of that opportunity—on a national scale.
Market
Sales of Micro EVs are Soaring
Electric bike sales have grown significantly in the past few years, but still only make up around 5% of total bike sales. Our market research suggests that there’s a huge amount of growth potential in the e-bikes segment.
Today, the global market for e-bikes is approximately $41.1B annually, and is forecast to be $70B in 2027. E-scooters today are a roughly $2.6B/year market, which is expected to grow to $5.2B by 2028.
The Canadian e-bike market is expected to grow at close to 12% per year.
Funding
A Self-supported Venture
To this point, EVWest has been bootstrapped. We know how to run lean and efficiently, and we’ve proven that we can gain traction without any outside funding.
With financing from crowd-funding, we’ve set the following priorities for growth:
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Launch new sales kiosks/stores in our top target markets
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Invest in advancing our e-commerce sites and online marketing
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Invest in our product team to source our own branded line of products from offshore
