GroBikes’ mission is to make it easier for parents to provide their children access to lightweight bicycles that fit correctly from Day One, and making this more affordable (or #cheaperer as we like to say) is most definitely part of that.
Because Frog Bikes recently updated the prices of their bikes, we thought we should take another look at our “How GroBikes is Cheaperer” blog post from last year and pass on what we found.
In short, GroBikes is still considerably less expensive than buying, using, and re-selling a series of equivalent quality bikes. This we expected.
What we didn’t expect was that our analysis from last year was incorrect, in as much as we had not taken into account that some bike sizes will actually be used for two subscriptions, not just one. This had the effect of understating GroBikes’ lifetime cost and overstating the financial benefit to subscribers. For this, we apologize.
As such, we’ve rolled up our sleeves and re-done our analysis, expanding it to cover the full range of ages we service, 2 – 12 years old. In the interest of fairness and objectivity, we’ve also decided to place value on the time parents spend changing bikes, including time spent re-selling their child’s old bikes, as well as time spent searching for new bikes (i.e. looking online, finding the right colour, finding a store that has the right size, etc.).
Combined with our new lower pricing structure (see preceding blog post), all of this results in GroBikes being an average of 31% less expensive than buying and re-selling, saving parents an average of $488.
All our assumptions are laid out below, with the graph at the bottom giving an overall view of how things work out depending on what age a child starts riding with GroBikes. We think this gives a fair representation of the value GroBikes creates from the perspective of minimizing costs but in the end, everyone needs to think through their own assumptions and make a decision on what they think is right for them. (If you don’t like squinting, click here for a printable .pdf version of the analysis.)
In the end, we hope you agree that this demonstrates that GroBikes is still a significantly more affordable way for parents to provide their children a fantastic bike riding experience, helping lay the foundation for a lifetime of health, fitness, and sustainability.
Thanks for reading and happy riding!!!