With the wide variety of leisure activities available today, there is no shortage of ways to spend your free time. From golf and tennis to fishing or hiking, you can have fun just about anywhere with the right equipment. That’s where a rental business comes in. With a little know-how and a little investment, you can run your own profitable business with great returns.
What is leisure equipment hire?
Leisure equipment hire is the act of renting out sports equipment, such as golf clubs, skis and fishing rods, or other types of equipment, such as trampolines, kayaks or surfboards. You can charge a rental fee for every use of the equipment, per day, week or month, or you can charge a one-time rental fee. ** The most common form of leisure equipment hire comes in the form of a golf club subscription. These are clubs that are rented out on an installment plan. The customer rents one set of clubs for a set length of time, often one or two rounds of golf, and then returns that set of clubs for the next person on the subscription.
Sources of income and returns from a leisure equipment business
There are many ways to make money from a leisure equipment business. Most businesses in this space are set up as a membership club and charge a monthly or annual recurring fee for access to the equipment. That’s a lot of money that is going to the management company, but you can also charge per-use fees. This can be a very profitable business. Some businesses rent the equipment out individually, charging a per-use fee, while others may offer an option to buy outright. You can also sell insurance or provide repairs, or offer a combination of these services. To find the right business model, analyze your customer base and determine which types of activities will be most popular with them.
How to find quality customers and sell to them
When you begin researching businesses to start your leisure equipment rental business, you should focus on local golf clubs and other organizations that host events nearby. Not only are these your ideal customers, but they’ll also be the best source of information about the demand for your products. Once you’ve identified potential customers, you can begin selling to them, or selling to their members. Most golf clubs closely guard their customer lists, so it’s best to use a customer referral service, such as ClubLink, to get ahold of the list. Once you have the list, send mailers or email campaigns targeted to your ideal customers, offering them discounts or special deals on equipment rentals.
Key skills for running a successful leisure equipment business
As you begin your business, you’ll need to do some homework to find out as much as you can about the industry and your target customers. Here are some key skills to have as a leisure equipment business owner: – Excellent organizational skills – Successful leisure equipment businesses require lots of time and effort, and in many cases, specialized knowledge. To make the most of your time and manage your customers, you’ll need to be organized and careful with your finances. – Marketing skills – Marketing is critical to the success of any business. You can’t expect to sell anything if nobody knows you’re selling it. The best way to get the word out about your business is through marketing, such as direct mail, social media ads, and email marketing. – Customer service skills – Successful leisure equipment businesses are built on customer service. You can’t expect your customers to be pleased with their experience if you’re not. Keep a clipboard by the door and make sure that every customer gets a smile and a stack of paperwork before they leave.
Benefits of operating a leisure equipment business
When you operate a leisure equipment rental business, you can make money while you’re sleeping. You don’t need to be at the gym or in front of a computer for hours every day to make a living. However, you do need to be available when your customers want to book a rental or buy equipment. You may also need to buy new equipment as customers return their used golf clubs or skis, as these items will only last a few rounds. One of the best things about operating a leisure equipment rental business is that it can be done from anywhere. You don’t need an office or a storefront, and you can sign up for online software, make multiple bank transfers and operate the business from anywhere in the world. Here is a company that is very highly recommended for Inflatable equipment hire in Surrey and other types of leisure hire.
Final words
Running your own business can be one of the most rewarding experiences of all. With hard work, dedication and the right business model, you can make a good living from a leisure equipment rental business. Before you take the leap, however, you’ll need to research the industry and find out as much as you can about your target customers. You’ll also need to determine the right business model for you, and set goals for income and growth.