While visiting Haul N Ride, you will have noticed how many very clever people there are, that for a number of reasons, decide to modify their motorcycle.
Here are some ideas to assist in obtaining the funding necessary to complete a modification project.
The Need to Adapt a Motorcycle
Each modification is necessary for its own individual reason:
- to improve performance (such as Stage 1 & 2)
- to improve safety (such as front suspension modification)
- to enable access (such as adding a sidecar for wheelchair access)
- to change the appearance (such as creating a Steampunk look)
- to solve a problem (such as lowering the seat for a short rider)
- to try out a new idea (such as attaching a hanglider to a motorcycle)
and many other reasons unique to the rider
Whatever the reason for the desired modification, there is one thing all projects have in common. Without sufficient funding the project cannot move from a good idea to a concept prototype or finished product.
Funding in Stages
One method of funding a modification project is to fund each stage until completion.
This method will require you to squirrel away a portion of your income to pay for the parts as they are needed during the modification. This will drag the project out, creating delays as you save for each stage, however, it will enable you to begin if you are unable to obtain finance from a bank.
A small modification may not require a lot of money. For example my Honda XLV750R was causing heel pain (Plantar Fasciitis). The foot pegs were putting pressure on the arch of my feet, which pulls the tendons on the heel. With a bit or welding I was able to create homemade running boards at low cost. You may read about it here
Other modifications may cost as much as purchasing a car.
My daughter was born with Spina Bifida and therefore has been in a wheelchair throughout her life.
To purchase a Wheelchair Accessible Sidecar would cost more than $20,000 and a Wheelchair Accessible Trike could cost up to $70,000.
I was unable to obtain a bank loan, so I decided to fund the project in stages.
Three years later I had a fully operational approved Wheelchair Accessible Sidecar. To see the project and read the story, click the image below.
Day by day, week by week, month by month, I succeeded in bringing the dream to life without obtaining finance via a bank loan.
This method can increase the time the project takes due to other living commitments demanding your income. Therefore, in order to speed the progress of the modification, I would like to share another source to obtain funding.
Charity and Grants
The Wheelchair Accessible Sidecar is a perfect example of obtaining funding via a grant.
Grants are non-repayable funds disbursed or gifted by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual. Wikipedia
I purchased the sidecar for $650 on Gumtree and used the Funding in Stages method to modify the sidecar for wheelchair access. However, a qualified engineer/fabricator was required to attach the sidecar to the motorcycle. This could not be funded in stages, so I had to find a way to pay for the completion of the job.
Thankfully, the engineer was paid to complete the project via a Disability Grant from the Independent Living Centre.
For a list of foundations and agencies that provide disability funding Click Here.
If you project does not involve a disability, it may be difficult to obtain a grant to finance your project, so let’s look at another option.
Create an Extra Paycheck
If you don’t have the sufficient funds to take your project to completion as your employment income is consumed by daily expenses such as rent, food and utilities, perhaps it is time to consider creating a secondary income.
A home based business is a very effective way to achieve this in your spare time.
As you are aware, there are many scams trying to get your attention, which is why I would like to introduce you to a Legitimate Home Based Business Opportunity.
Let’s face the fact. Get rich quick schemes do not generate a source of income, they simply waste your time and ask for your precious hard-earned money to feather their own nest.
In contrast, if you build your own business, you have the potential to generate enough cashflow to fund your project, and perhaps even leave your job, to work full time for yourself.
If this is you, take some time to explore how starting a Home Business can change your life from a life of struggle to a life of “Dreams Come True”.
I hope these ideas have been helpful in providing ideas to fund your project from the beginning to completion. If you would like to share your project and/or funding ideas with Haul N Ride, please comment below.
Haul N Ride website was created to explore Innovation and Human Creativity with a focus on Interesting, Rare and Unusual Motorcycles and Accessories. Haul N Ride welcomes the sharing of projects and ideas, creating an enjoyable and educational online resource. We like to hear from readers so please leave a comment below and let us know if this post helped you or if you have any questions.
Thank you for visiting Haul N Ride. Dave