Tips for a rental business owner to get ready for a busy season
Summer is here and the best way to spend a late summer afternoon is in the pool nursing a chilled piña colada. The next best thing is the giant inflatable water slide. There is no better way to keep the kids entertained during the holidays.
If you own an inflatable rental business, this should probably be the busiest season of the year, depending on what region you operate in. It is therefore important to be prepared to meet the demand.
Here are 5 simple tips to help you navigate through the busy days.
1.Analyse the previous year
Past is full of lessons and it’s time to take some for this year. Analyse what last year looked like for your business. Gather information and get insights to predict the trends this year. This will also help you make improvements wherever required, do things differently and present a clarity on how to move forward.
Reflect on if you need to hire more people. Does your advertisement budget need an alteration? Do you have enough commercial water slides among other inflatables to rent out? Answering these questions will help you strategise.
Once all the victories and failures have been evaluated, put together a plan of action. Run a SWOT analysis to get started. Essentially, a SWOT analysis is laying out strengths, weaknesses, opportunities and threats to the business. This can provide you with a clear idea of what you are doing absolutely right and what needs to be changed.
With a sound understand of where your business stands, you can make and act upon a strategy that can ensure an influx of orders.
Now that you have a plan in place, it’s time for execution. Review the following.
A. Employees: reliable, trained and well-coordinated staff is one of the biggest challenges businesses face. You must start the hiring early on to leave you with enough time to train and prepare your workforce for the busy season.
B. Maintenance: check you inventory. Get them fixed and cleaned for the fresh season. This is the time to make decisions regarding buying new units.
C. Insurance: review the insurance policies and state requirements to ensure you have everything covered.
D. Advertisement Budget: advertising brings in business. Assign a healthy budget to advertising. Invest in quality content, videos and pictures to promote the business.
Establish and maintain a system within the organisation to track finances, employees, orders etc. This is how you get to keep your sanity and run the business smoothly. Maintain proper spreadsheets to keep everything in track which will also enable you to be on top of things at all times. Make sure your inventory is well organised too. Have your employees follow a system for labelling, moving and storing the units along with other accessories.
Increased work increases the chances of mistakes. Equipment breaking down, mistakes with order, absentee staff, so many things can go wrong at any time. The most efficient way deal with that is to prepare. Take some time out to inspect the product, the vehicles, confirm the requirements with the customer one more time to avoid last minute chaos.