No, pedal can stay on. Chain needs to be on smallest cog of cassette and large chain ring with drive side crank arm at 12 O'clock. Chain rings and rear derailleur fit into pockets and a flap velcros over the chain. Once on, the crank arm can be rotated backward to 9-10 O'clock position so bike will sit on fork dropouts with the front wheel off.
The rear cassette is not completely covered. Unless you lean the drive side up against a seat, it shouldn't be a problem. At least it wasn't for me.
