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Business Idea - Rental Company
Posted on 11/2/15 at 1:40 pm
Posted on 11/2/15 at 1:40 pm
Lately I've been thinking of ways I could make extra money on the side. How profitable do you think renting kayaks to fishermen, tourists etc. would be in a location like Houma, where most people traveling to fishing areas have to go through. I have a friend that works at the local tourist bureau and said they get quite a few requests for this type of thing. Thoughts?
6
Posted on 11/2/15 at 2:19 pm to TJP
I always thought a rental business was a great idea. Don't forget to put some profit aside for repairs and inventory upgrades.
Posted on 11/2/15 at 2:24 pm to TJP
Masseys rents kayaks. Along with a few other places. Just google kayak rental
Posted on 11/2/15 at 2:30 pm to TJP
It would Work Well ....if you didn't limit it to Kayaks
Posted on 11/2/15 at 2:40 pm to TJP
- add up start up costs (equip, mrkting, administrative, insurance, etc)
- put together target market and feasibility (regional sounds like)
- put together how much you will charge for services
- with that info create projected balance sheet, income statement, and cash flow
- if you are in the green within 18 months then i would start to think it might be a good idea
- put together target market and feasibility (regional sounds like)
- put together how much you will charge for services
- with that info create projected balance sheet, income statement, and cash flow
- if you are in the green within 18 months then i would start to think it might be a good idea
Posted on 11/2/15 at 2:46 pm to TJP
Define "quite a few". I would think most people who want to go on the water would bring a boat with them or would have made prior arrangements before they got there.
Maybe there are some people in town for other reasons that if a rental was an option, they would do it as a fun activity.
You have your overhead of buying the equipment, need to clean it and maintain it and have a regular replacement schedule. You could probably hire some college kids to actually do the renting and the cleaning.
I'll say this: I've always thought a business with an insane gross profit margin must be the businesses that rent chairs and umbrellas at the beach. It's what, 20 bucks a day to rent an umbrella and two chairs? You get a college kid to go out there and set them up and hang out all day, read a book, work on his tan, flirt, and collect money. I'm guessing these companies pay a royalty for the beach concession, but it's got to be a great business model.
Maybe there are some people in town for other reasons that if a rental was an option, they would do it as a fun activity.
You have your overhead of buying the equipment, need to clean it and maintain it and have a regular replacement schedule. You could probably hire some college kids to actually do the renting and the cleaning.
I'll say this: I've always thought a business with an insane gross profit margin must be the businesses that rent chairs and umbrellas at the beach. It's what, 20 bucks a day to rent an umbrella and two chairs? You get a college kid to go out there and set them up and hang out all day, read a book, work on his tan, flirt, and collect money. I'm guessing these companies pay a royalty for the beach concession, but it's got to be a great business model.
Posted on 11/2/15 at 3:11 pm to LSUFanHouston
That was my first question. What's the actual # of calls they get requesting that. She said she didn't answer the phone and had no idea how many it was, just that they got calls about it. I certainly think it wouldn't be too great of a risk to try out. If I buy 5-10 kayaks and end up with no business, I could probably unload them on craigslist or such for minimal loss. I also thought about add-ons, like fishing gear, depth finder, gopro.
Posted on 11/2/15 at 3:11 pm to TJP
quote:
How profitable do you think renting kayaks to fishermen, tourists etc.
You want to rent everything, including rods if needed and be able to point the people where they can catch fish. You need to head south of Houma, somewhere where they can launch and fish.
Posted on 11/2/15 at 3:25 pm to wickowick
I thought about setting up some sort of deal where you met them at their particular launch location to make the transaction. My problem is that I have a full time job and I'm trying to figure out a way to make it work on the side.
Posted on 11/2/15 at 4:06 pm to wickowick
quote:
. You need to head south of Houma, somewhere where they can launch and fish.
This sort of rental business might work if you were located directly at a high-volume marina.
Don't see how being located in Houma & having the customer pick up & return the equipment from your location would work for most ppl. Most won't have a vehicle sufficient to transport the kayak(s), which means you'll have to deliver it...and then picking up at a specific time, at various locations all over Terrebonne Parish? Sounds like a logistical nightmare to me.
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