Bicycle Sharing attracts a large number of users and a great market demand with the advantages of convenience, environmental friendliness, being non-expensive and suitable for short distance. This paper designs the variables as perceived service quality, satisfaction, and loyalty and simplifies the perceived service quality to three dimensions including perceived service quality of platform, perceived quality of bicycle entity, and perceived quality of value. Using structure equation modeling (SEM) it establishes a model about quality of Service-Satisfaction-Loyalty to analyze the service quality variables’ influence on customer satisfaction and loyalty based on the survey data of Ningbo city.