Paddle boarding has existed for years, but it got popular in the 2000s when it emerged as an exciting water sport. Since then, the number of paddle boarding admirers has been continuously increasing. The fame of paddle boarding makes the paddle board rental business an excellent investment one can make to earn enough revenue.
How to start a paddle board rental business
If you are interested in starting your paddle board rental business, then it is important to have a basic knowledge of how it works. Like any other business, the paddle board rental business has its own basic needs and requirements, which you must be aware of if you want to make it a successful business. Below is the basic guideline you need to start a successful paddle board rental business.
Possible business models for paddle board rental business
The first thing you need to decide on is the paddle board, business model. Below are the three most common business models for a paddle board rental business. You can select any of them based on your convenience.
Mobile rental business
This business model is suitable for those who do not want to invest a lot in this business. In this form of the rental business, you do not have to own paddle boards or even a rental store. You can simply reserve paddle boards from any other SUP rental business and provide them to your customers when they call you.
You can do this business while sitting at home. You will have to make a connection with several rental paddle board suppliers so you can reach out to more when one supplier cannot fulfill your needs.
Fixed base rental business
A fixed base paddle board rental business can be done at a resort, park, or beach. Such places already have paddlers, so you will not have to worry much about getting customers. It will save you the marketing cost. However, places like resorts may take a small amount out of your total earning. Also, you will have to get expensive permits from the local government.
Retail rental business
The retail option is the expensive option among all these business models. You will open your store where customers will come and observe all items physically before getting them on rent. You can expand this business in different areas by investing more in it. It will also allow you to offer as many different services as you like. You can also offer accessories for other water sports like kayaking, etc.
What you need to start a paddle board rental business
If you are interested in the first or the second business options, then you will have to purchase the necessary equipment or accessories to start your paddle board rental business. The following are the essential things you will have to purchase to start your business.
Paddle boards of different kinds are available in the market. It is better to have a variety of paddle boards, so your customers have a range of boards to select from. Hard and inflatable paddle boards are the two common forms. Both have their own pros and cons.
You can purchase different hard and inflatable paddle boards. Make sure you buy them from reputable manufacturers so that the paddle boards can withstand the abuse of renters throughout the day.
The next thing you need to purchase is paddles. They come in many sizes and designs. So, purchase the paddles of different sizes to meet the needs of different customers. Paddles should also be durable. Plastic paddles having a fiberglass shift is a good option for a rental business. Also, it is better to purchase paddles that are floatable so that your customers do not lose them while they are in the water.
Personal flotation device and similar safety equipment
Life jackets and inflatables around the neck are two popular options used as a personal flotation device. Wearing them is essential in some areas by law. They also make sure your customers feel safe while paddling. So, purchase good quality PFDs.
Other common safety equipment may include a safety whistle and a leash. The leash around the leg feels light, but it makes sure the paddle board does not float away if the paddler has fallen in the water. A safety whistle is for paddlers who are interested in going alone. They can use it to alert people in the surrounding if an accident happens.
What else you should consider
Other important things that you need to consider to run a successful paddle board rental business are:
Activities you can offer
You can offer different activities based on your level of expertise. The more activities you offer, the more your business will flourish, and you will earn more revenue. Below are the common paddle board sport-related activities.
Paddle boarding training
A lot of beginners hesitate to paddle on the water because it requires the right use of techniques and tricks to balance your body on the moving water surface. So, training them to paddle board is a great way of spreading knowledge and earning revenue side by side.
But you will first have to get the trainer certificate so that your customers believe what you are teaching. If you are getting more customers, you can hire trainers, as well.
There are many people who like exploring different areas. You can offer them guided tours to make their touring experience more effective and enjoyable. Guided tours with families, friends, and pets are popular. Therefore, first, get training, then helps others have a better touring experience.
Group paddle boarding classes
Group classes are also a great way of adding more to your revenue. You can teach different paddle boarding-related skills to a group of people. These skills may include SUP yoga, SUP fishing, paddling with kids, paddling with pets, and a lot more.
The success of any business highly depends on financing. If you do not have enough funding or financing you will not be able to run this business for long. You will have to rent or purchase a place where you will establish your business. Then you will have to buy the necessary equipment like safety items, paddle boards, etc., for your rental business. You need to have strong financing to do all these things.
There are many other things that you will have to purchase to run a paddle board rental business legally. If you want to give your business a unique name, then you will have to file the name so that no one else can use it. The fee to register your business depends on the country and the business type.
Similarly, you will have to determine which payment method you want to use for this business. Credit cards and direct cash are two of the common options. You can contact a bank to get their merchant service. However, know that every back has a certain merchant account fee.
You will also have to buy SUP insurance. All these things are necessary and will cost you a certain amount. The amount you are investing in today will get doubled tomorrow. So, make the right choices and manage your business financing well.
After deciding on everything related to your rental business, now is the time to find ways to promote your business. The world has become very competitive for all businesses. That is why it is important to let your potential customers know about your business and tell them why your rental business is better for them.
Create a marketing strategy that is according to the latest marketing trends. In this digital world, social media presence is very important for the success of any business. So, create your business pages on social media platforms like Facebook, Instagram, Twitter, etc. You can also create your business website to reach more customers.
Try to post daily on your social media pages to keep your followers engaged. You can create different offers and packages to attract more audiences. Run ads on your social media profiles to boost your sales and earn more revenue.
If you are not very much aware of social media marketing, you can hire a marketing agency to do the task for you.
SUP insurance will keep you and your business safe. The cost of SUP insurance depends on several factors like the amount of coverage, number of participants, coverage for open water, etc. Still, the cost of SUP insurance is less than many other extreme sports. It is because it is considered a safer water sport. If you are interested in hiring SUP instructors, then you will have to but coverage for them as well.
The bottom line
The Paddle board rental business is a good investment opportunity for people interested in this sport. The popularity of this water sport is expanding every year. More and more people are getting involved in this sport. So, it is the right time to start your own paddle board rental business. We hope this article has erased your rental business-related confusion, and you will be able to make more knowledgeable decisions.