Several years ago, a successful Winnipeg businessman told me he had just purchased a new motorcycle.

He was more of a classic car guy and never had a bike before, but money wasn’t a big obstacle for him, so he decided to take the plunge on a two-wheeled toy.

He wasn’t foolish with his cash, however, and wanted to minimize his losses in case he later discovered the motorcycle life wasn’t for him. He felt the best way to avoid taking a beating on the depreciation was to buy a Harley-Davidson, knowing they held their value well.

Many of us, however, don’t have the luxury of taking that risk, so we might continue to wait on the edge of the dock rather than jump in with both feet.

If that sounds like you, business partners Karol Thorsteinsson and Myles O’Reilly suggest you’re in good company and they think they’ve got a solution.

On June 22, the two will open the doors to River City Rides at 1318 Portage Ave., the only business in Winnipeg to offer motorcycle rentals.

“I’ve got my motorcycle licence, but for a while I didn’t have a bike,” Thorsteinsson said on Tuesday. “A bunch of my friends ride and borrowing a bike from somebody tends to be a bit of a pain.

“We were hearing the same thing from a bunch of our friends.”

Thorsteinsson and O’Reilly had been thinking of the idea for a while, but “the kicker” came last August. That’s when well-known and respected motorcycle enthusiast Michael Roberge (known as Squirrel) was killed while riding near Grafton, ND, on his way to the Sturgis Motorcycle Rally.

“There was a memorial ride the day after that funeral and there was a lot of people who wanted to go,” Thorsteinsson recalled. “But they couldn’t due to MPI’s high insurance rates, or they didn’t have a bike at that time.

“So I approached Myles and said ‘Why don’t we do this?’ Nobody else is doing it.”

Motorcycle rentals are available in B.C., Alberta, Ontario, and possibly in a couple of other eastern provinces, Thorsteinsson said.

“Only B.C. and Manitoba will be the ones with government-run insurance,” he said.

Thorsteinsson figures Manitoba Public Insurance’s motorcycle fees are the main reason why nobody else has offered rentals before in Winnipeg.

“There are approximately 30,000 licenced motorcycle riders in the province of Manitoba, and 14,000 licenced motorcycles,” said Thorsteinsson, a member of the Coalition of Manitoba Motorcycle Groups. “The most overwhelming reason given (for the lopsided ratio) is insurance rates.”

Thorsteinsson used his own bike as an example of how expensive it can be to register an older, more affordable motorcycle. His 1982 Yamaha XJ 550 Maxim costs more to insure for a year than his vehicle, a 2006 Scion XB wagon. The motorcycle would be fully insured for six months of riding, then fire and theft for the remainder of the year, as compared to full insurance on his vehicle for the entire year.

The motorcycle, he estimated, has a replacement value of about $1,200 compared to his Scion at $10,000.

River City Rides will have a few touring and cruiser bikes to start and may expand if there is a demand for more. They’ll go for the hourly rate of $37 (two-hour minimum), $125 for 24 hours, and $277 for a weekend. There are also weekly rates.

River City Rides will be open year round, offering rentals during the riding season as well as clothing and merchandise all year.

For more details, go to: rivercityrides.ca.