I’m sure you’ve seen moonbounces at various parties & events. Perhaps you’ve even rented one. But have you ever thought about the financial windfall that can come with owning a couple of the units?
Moonbounces rent for anywhere from $85.00/day on the west coast to $250.00 & up in other parts of the country. Here in Indianapolis, we rent ours for around $225.00 for four to six hours. So…if you charge $150.00 for your rental, you can make an extra $300.00 per week in income.
Of course, there are some expenses that come with the rental. You’ll need a truck or a small trailer. A good dolly, extension cords, business cards, insurance and other small business items. Most people who start up a rental company do the deliveries and bookings themselves. That’s the joy of it. You work when you want to….not when you’re told to. On the other hand…the downside is that if you want the income you might as well accept that it’s going to be there on the weekend and that’s when you’ll be working.
The most expensive part of inflatables is the insurance. Insurance tends to get cheaper as you insure more units but the start up can be a bit tough. The average moonbounce costs around $1500.00 with the insurance running another $750.00. So…you can start up with one bounce for around $2500.00. At a rental rate of $150.00 you’ll have your expenses and covered in less than twenty rentals. Of course…if you charge what we do, you’re unit & costs will be paid for in about ten to twelve rentals.
Moonbounces aren’t the only thing you can rent. We started five years ago with two moonbounces and now have over fifty interactive games. Jousts, Giant Slides, Obstacle courses, video games, casino equipment and fun foods. So, as you can see the business will grow as large as you want it to. About the only way to fail is to purchase the equipment and leave it in your garage. Inflatable moonbounces and other inflatables are their own best advertisement.
To get going on your new business you just need to follow these simple steps.
1) Talk to your state and local boards to find out what is necessary to open your own inflatable rental business. Some states have restrictions on what you can do.
2) Start talking to suppliers. Search the web for “moonbounce” or “interactive games”
3) Ask the suppliers to give you insurance info. Do NOT make a purchase until you’ve secured insurance.
4) Once you have insurance locked up, place your order.
5) While you’re waiting for your equipment, get some fliers made up, business cards and a dedicated phone number. Tell EVERYONE about your new business.
6) Although you’re starting to advertise, it’s not recommended to book your units before they arrive. That’s just asking for trouble.
7) As soon as your equipment arrives, inspect it for damage before the delivery truck leaves. Make sure it’s all there (most units are sold with a blower).
8) Blow up your equipment and get familiar with it. Sit it in your yard or a friends yard and let the kids play. The more it’s seen the more people will want it.
Party rentals is a very lucrative and also a very broad area of business to go into. Because it is an area that not only has plenty of established routes and known products that you can take, but is still open for innovation and new ideas or new products, it can be both a profitable and a highly rewarding and enjoyable business to start.
The main thing that you need to think about before you start up is how you are going to get the capital that you will need to invest, how much you are likely to be able to get, and how big a business the area which you plan to cover is able to support (this last one is of course vital if you want to be a success and not add to the statistics of all those new companies who go bust in their first couple of years).
There are some businesses which you can start with little or no money needed for investment, but this is not one of them. Not only do you need to actually purchase the equipment that you plan to rent out, but there are plenty of other expenses too. One of the most popular types of product that people make available for rental is inflatables for children’s parties. This can be very profitable indeed, but there is a substantial insurance cost that you need to think about.
If you have a fairly large number of units then you may well be able to get a good deal from an insurance company, particularly after you have been in business for a little while and can prove the safety of your equipment and the way that you operate. but if you were thinking of having just 1 unit, or even a couple, then you need to look carefully at the amount the insurance will add to the price and whether you can still offer your service to the public at a price that they will find acceptable.
There are also lots of other things that you can hire though, most of which will have a lower cost for insurance because they do not have the same potential for injury if safety procedure is not followed properly. Marquees is another popular choice as a party rental, as are things like outdoor sound systems, large tables and chairs, and any other fun stuff that people might like to have at a party of any kind.
The most important thing, aside from being able to get the money, is making sure that you research well and you go into an area which doesn’t have too much competition and which the area that you are going to cover can support.
If you research well, and you are careful with any advertising spend – running tests for the minimum amount before committing to a large spend – then you have every chance of making your new party rental business a success.
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Pretty simple, isn’t it? Of course I just touched on the steps but it’s not much more complicated than that. If you join the Party Rental Industry you’ll be sharing fun with everyone. And that’s a great way to make an income.