Perhaps you’ve just rented a bounce house for your kid’s birthday party. You’re doing the mental math on what it cost. Suddenly, little dollar signs appear in your eyes as you wonder how to start a bounce house rental business of your own.
If you’ve got the time management skills and a detail-oriented mind, you could open a bounce house rental business on the side and make some serious cash.
Now, before you go start an inflatable rental business, you’ll need to get your steps in the right order. We did say you’d have to be detail-oriented!
Step 1: Start with a Business Plan
The key to this whole thing is answering the question of how to start a bounce house rental business that’s profitable. Writing a business plan will guide you as you do market research, seek financing, and source your inflatables. This is also a great way to identify any shortcomings or obstacles.
Step 2: Choose Your Business Structure
There are four basic types of business structures:
- Sole Proprietorship
- Limited Liability Company (LLC)
Partnerships aren’t recommended because the other person’s actions are also your responsibility. If they steal money, cause damage, or are on the wrong end of a lawsuit, you’ll have to deal with it.
Corporations are a decent choice but are complicated due to their large size.
Ultimately, you’ll want to go with Sole Proprietorships or LLCs. Many choose LLCs because they offer more liability protection.
Step 3: Pick a Name, Register It
Before you settle on the name when starting an inflatable rental business, make sure no one else is using it. The name must be memorable, short, and descriptive. Once you have your name, you’ll have to get your business licenses and permits, Employer Identification Number (EIN), sales tax permit, and Occupancy Permit.
Step 4: Start Marketing
The only way people will know you have an open bounce house rental service is if you advertise! If you plan on doing it yourself, some traditional places to advertise are social media, local newspapers, radio, magazines, TV, and email.
Step 5: Hiring Employees
Pay competitive wages to attract responsible, hardworking people. It’ll cost you a lot more if you have low-paid, disgruntled employees who either do shoddy work or keep quitting. High turnover will eat away at your profits worse than high pay.
Among the people to hire are accountants! If you don’t hire accountants, get solid accounting software and learn to use it.
Step 6: Insurance
Another question to ask is, “How to start a jumper rental business and not get sued?” You’ll need insurance! General liability insurance will protect you from lawsuits over injuries that happen when people use your jumpers and inflatables.
Don’t forget worker’s compensation and commercial auto insurance to protect yourself as employees deliver and pick up bounce houses from customers.
What Skills Are Needed?
To be successful, you must be detail-oriented, have problem-solving and organizational skills, understand how to spend less than you make, and enjoy analyzing industry trends.
But remember, you’re also engaged in a business that caters to children! That means you’ll be dealing with a) excited kids and b) their possibly frazzled parents. You’ll have to have enthusiasm, optimism, and patience.
What Equipment Is Needed
Obviously, you’ll need a bounce house. But you’ll also need the blower to keep it inflated, an extension cord, a generator, stakes, cleaning supplies, sandbags (to keep it grounded in the wind), and emergency duct tape (for when there’s a puncture on-site).
Common Mistakes to Avoid
Don’t start with too many inflatables! Do market research to see how many competitors you have. When in doubt, ask larger inflatable rental companies for advice on how to start an inflatable rental business. Too many businesses begin without seeking knowledge from established enterprises.
Additional Tips for Starting a Rental Business
Here are some additional tips for your inflatable or bounce house rental business.
Add and Replace
Your inflatables won’t last forever, and seasons bring new needs. If you live in a place with hot summers, adding waterslides and pools will bring new customers. Replace your old inflatables when you need to!
Keep It General
The more specific the jumper, the narrower your demographic. If you have inflatables that resemble particular cartoon characters, for example, kids who don’t like those characters will never ask for them.
Secure an Attorney
Contracts and local laws can be confusing. You’ll want to have a local attorney help you understand what you, your suppliers, your employees, and your customers are going to be signing.
Know What to Charge
Don’t under- or over-price yourself out of existence. Research your area and what is being charged for bounce house rentals.
Have the Right Number of Employees
Bounce house rental businesses will have seasons that are busier than others. You don’t want idle employees who have nothing to do or a few overworked employees trying to keep up with demand.
Become a Bounce House Entrepreneur with Floatie Kings!
If you’re looking for custom inflatables, you’ve come to the right place. Floatie Kings knows how to create incredible looking and durable inflatables, and we’re trusted by businesses like Google, Malibu, Under Armour, and more!
From basic shapes to complicated designs, we can make your inflatable dreams a reality. Ready to start your inflatable bounce house business? Talk to Floatie Kings first!