How could I start an organization that helps find stolen bicycles?

  • Thread starter Thread starter Duct Tape
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Duct Tape

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The police around here don't respond to calls reporting stolen bicycles, so I want to start an organization to find them. We will have people register (leave serial number, description, etc.) with us, and when the bike gets stolen, we will go out looking for it. We will also have an optional insurance, where you can pay X amount of money (depending on likelyness of it being stolen), and we will replace the bike if we can't find it, or if it's wrecked and we can't repair it. But before any of this happens, I will need to know how to start the group.
If any of you are creative enough, maybe you could help with the name. http://answers.yahoo.com/question/index?qid=20081011155644AAvZGCy
 
Bad idea, man. It's a great idea but it's really hard to monitor people's bikes. Unless they had some tracking code on them, it's going to be wierd driving around town looking for a bike. You'll lose money doing this...
 
Staring a group that will go out and find lost bikes sounds like you really need to work out the details. Stolen bikes are sold and people buy them and keep them in their house. You can't very well poke around people's yards and garages. So plan out how you are going to be looking for the bikes. Also the question of "how do you start an insurance company" is far more complex than accounting, marketing, managing staff, etc. Before you can even consider these aspects of the question you must first have the legal ability to sell insurance under your own company name. And I don't mean "agent licenses or agent/brokers licenses", which are easily obtainable from any of the 50 states by paying a small fee and taking a simple test. I mean a corporate insurance license that specifically gives "your company" the legal right to sell insurance. the general public of a given jurisdiction under "your company name". This requires capital. Minimum of 1,000,000 for starters and in a lot of jurisdictions $5,000,000- $30,000,000 is the norm.
 
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