Do you want to start a scooter rental company from scratch? Or you need a sample scooter rental business plan template? If YES, then i advice you read on.
Are you looking towards becoming your own boss? Have you been cracking your brain on what business to start? If your desire is to become your own boss and enjoy the flexibility of your time, then you should think towards starting your own rental business. There are numerous areas you can diversify to in rental business and one of them is a scooter rental business.
Scooter rental business is a profitable venture and it is easy to manage if the proper structure is put in place. Of course there are areas where scooter rental businesses can’t thrive and there are areas where it might possibly thrive. Scooter business can thrive in areas where you can find appreciable numbers of tourist, islands, and beaches and also areas such as games villages.
Establishing a scooter rental business requires enough capital to purchase at least 10 scooters to start with. One major challenge people who are into scooter rental business face are the challenges of regular maintenance of the scooter. You can choose to rent your scooter on an hourly basis or on a daily basis or you can as well choose to do both as long as you have a proper monitoring system in place.
Now let us quickly go through some of the basic steps to follow to be able to establish a scooter rental business from the scratch and build it to profitability within the shortest time possible;
Starting a Scooter Rental Company – Sample Business Plan Template
If you have made up your mind to start a business, it is necessary for you to write your business plan. Although some people argue that business plan might not be necessary for some businesses especially rental business. Since, it is easy to run a rental business, it is still important to work with a business plan. The rule of thumb is; if it is called business, then a business plan is needed! You might not need a comprehensive business plan to run your rental business, but it will be to your advantage to work with a guide (business plan) in your scooter rental business.
Starting a business of this nature requires capital. You would need enough money to buy at least 10 scooters to start your scooter rental business, and also money to secure a location where you will operate from. So, if you know you have not saved enough to start this business, you can apply for loan from your bank or you can talk to investors, family members and friends to help you raise cash for your scooter rental business.
The location you choose to start your scooter rental business is a major factor to the success of the business. Of course scooter rental business can’t thrive in all areas, as a matter of fact, if you know that you don’t live in an area with large inflow of tourist or parks and beaches, and then you should really reconsider your decision of starting a scooter rental business. If you are certain that you are in the right location, then you should talk to your real estate agent to help you secure a space to be used for your scooter rental business. You would need enough space to display your scooters.
4. Purchase Your Scooters and Safety Gadgets
One of the areas where you will spend the bulk of your start – up capital on, is in the purchase of scooters. Scooters are relatively expensive especially if you are buying brand new ones. If you don’t have enough cash to purchase new scooters, you can opt for neatly used scooters. Purchasing second handed scooters requires eyes for details or else you will spend more on maintenance. You will also need to purchase safety head gears (helmets), hand gloves and other safety gadgets.
Much more than renting out your scooters to clients, you need to add a premium service to your offering. Part of what you need as a premium service to your rental business is to offer safety tips and ensure that all those that rent your scooters adhere to the safety measure put in place (especially making use of the safety headgears). So you need to employ staffs that will help you instruct your clients and when necessary teach people how to ride a scooter et al.
6. Establish a Monitoring System
If you want to maximize profits in your scooter rental business, then you must ensure that you establish an effective monitoring system. People who rent your scooters either hourly or even daily should have a means for clocking before taking the scooter, and then clocking when they return the scooter. You can achieve this with an automated system similar to the ones used in paid car parks.
7. Create Maintenance Roaster
One of the factors that can affect your scooter rental business negatively is lack of maintenance. The truth is that if you want to increase the lifespan of your scooters, then you should not joke with its maintenance. As a matter of fact, you should create a maintenance roaster and ensure that you keep to the maintenance schedule you have in place. If you have the financial capacity, you can employ a maintenance engineer, but if not, you can contract the maintenance of your scooters.
Lastly, being in business means that you will have cash flow; you should be able to manage your cash flow if you must become successful as an entrepreneur. Mismanagement of your income can ruin your business. Proper record keeping and reinvestment of your income will do your business a whole lot of good.
No doubt, if you are hard working and you are determined, you will definitely make huge success from your scooter rental business. There you have it; the seven steps needed to successfully establish your own scooter rental business from the scratch and build it to profitability with the shortest possible time.