1. Get bike box from bike store dumpster.
2. Buy 3 or 4 foam pipe insulators and a bag of zip ties from Home Depot.
3. Remove seat, seat post, pedals, handlebars, stem and front wheel.
4. Wrap all painted frame tubes in foam pipe insulators and secure with zip ties.
5. Placed wrapped bike into box and check to see if front wheel will fit next to frame up front.
6. Use thick cardboard to wedge between wheel and frame and zip tie everything together so nothing moves.
7. Pack remaining parts in small box that will fit inside bike box.
8. Wrap handlebars in foam insulators and zip tie to frame.
9. Make sure all contents of box is one solid mass and that NOTHING MOVES SEPARATELY OR RUBS AGAINST EACH OTHER.
10 Tape up box like crazy and write person's mailing address with marker on the box.
11. Make sure all UPC codes and addresses on box are removed or blacked out.
12. Call FedEx or drop off at FedEx location...do not use U.P.S...known for damaging bikes and prices are always higher.
Now, if the bike is a rust bucket then using the foam insulators may not be as important.