Tips for Avoiding Common Inflatable Business Mistakes
Starting an inflatable rental business gives you an opportunity to become a boss, set your own rules, make a great profit and bring fun. However, there is a lot of work to do for long-term running. As the professional inflatable manufacturer and supplier, we want to see our partners to be better prepared and grow your entertainment business without any unnecessary hardship.
Here is a brief summary of how to aviod the most common mistakes that people make when starting an inflatable rental business.
1. Avoiding the Cheapest Purchase
Remember that cheapest is not always best. Since inflatables take a lot of abuse with people climbing and jumping on them, they are bound to become damaged from time to time. You will need to spend extra money repairing and not be able to earn money by renting them. Therefore, you should choose commercial grade inflatables which are good enough to meet the needs of frequent use becaues of great material, size and bounce house capacity.
Then, never buy second-hand inflatables. When you purchase a new inflatable, it comes with a warranty. When used, the product’s warranty may have already expired. Furthermore, the used inflatables are usually junks so you will have to patch up and fix the tears or holes before using. No parents and children will choose the inflatables that look dirty and scruffy. You even can’t charge a reasonable rent from those low quality used inflatables.
2. Understanding the Market and the Competition
There is a need for you to research your market first. Take some time to find out what types of inflatables kids enjoy recently, what the market is offering and what the better competitors are doing. Then you will have more clear ideas about how to catch up with the gap between your business and competitors. The best way to familiarize yourself with the areas you serve is to make a note of every community center, local business, school and learning center.
You also need to understand your competition. After knowing what types of inflatables they are offering and how much they charge, you can combine the current market demand with your actual business situation. This not only help you choose inflatables that will make your company stand out from the crowd, but also know how to offer competitive rates.
3. Choosing the Right Number and Type of Inflatables
One common mistake people make is choosing the wrong inflatables or not buying enough. It makes sense to begin with a small number of inflatables since don’t know how much demand you will have and you don’t want to exceed the budget. Don’t worry! Inflatables are in demand and fairly inexpensive nowadays, they will quickly pay for themselves. You can get a quick return on your investment and then begin to generate a profit.
In fact, just figure out what age group you want to target and then choose your inflatables accordingly. Inflatables come in a wide variety of sizes, colors, and designs. Therefore, you should know what you have to offer and prepare a good enough variety of inflatables. Some inflatable rental companies start out working birthday parties with bounce houses. And later they expand to other types of events such as carnivals and fairs with inflatable slides or obstacle courses.
4. Staying Organized
During the first two weeks, you will inevitably encounter problems and have some issues to work out. You really want to get those things resolved. There are a few necessities that we’ve discovered are common throughout the inflatable rental business, so make sure to review:
Coordinating the well-trained and reliable staff is important for further mangement. Start your hiring process early on and establish an effective training process for better customer service.
Establish a working system that your employees can keep track of labeling units. It is convinent and efficient to follow up with customers and confirm every item of their order.
Visit your website often to ensure that it is providing a comfortable user journey, the accurate product information and proper business background presentation. You should adjust your website accordingly.
Take the extra moment to keep your units clean and well-maintained. If you find any damage, perform immediate repairs and retire units that are no longer working well for your business.
Allocate a healthy budget for promoting your business. This includes TV, the radio, or online through a website and social media. You can print business cards and fliers or advertise in magazines.
Order from Ginflatables
The best way to get through those mistakes is to be prepared, and go the extra mile when you can to ensure your success. Ginflatables sells bounce houses, slides, obstacle courses and interactive games that are suitable for any type of events. If you look to start an inflatable rental business, you can find the best inflatables you need in here. Browse our new products in 2021 now!