You’ve done all the research, you found a bounce house manufacturer that you want to work with, and you believe you are ready to start your own bounce house rental business. One of the big problems that many new bounce house rental business owners uncover once they open their rental business is expenses. They calculate all of the earning potential that they may have, but they forget that there are expenses that come along with owning any type of business. What type of expenses should you plan for with your bounce house rental business?
Big Expenses
There are not a lot of large expenses you will have to pay for in order to get your rental business up and running and to keep making a healthy profit from it. The first large expense is, of course, purchasing your inflatable units. Purchasing an inflatable slide or inflatable bounce houses from a bounce house manufacturer is definitely one of the largest expenses you will have to make. Many new rental business owners realize that they must spend a decent amount of money to purchase the units, but what they forget is that they will also need to have a way to transport these units. This will require either purchasing, or leasing, a large truck or a trailer to pull behind your vehicle.
Smaller Expenses
The big expenses may seem a bit scary but believe it or not it is not the large expenses that are likely to help your business fail, but rather the small expenses. This is because most new business owners budget and the large expenses but forget about all the smaller expenses that come along with owning your own rental business. What type of expenses are we talking about? Business cards, advertising, insurance, and extension cords make up only a few of the things you will need to have on hand in order to ensure that your business has the opportunity to thrive. Yes, there are a lot of little expenses you will need to be prepared for in order to make sure that your business has every chance to succeed, and you will find that if you give yourself a monthly budget for the small expenses you will be in a much better shape to get a larger return on your investment.