Megan owns and operates a bounce house and inflatable slide rental business in Florida.
Thinking of starting your own business? The bounce house and inflatable slide rental industry is definitely a route to consider. I started this business in the state of Florida, and in this article I share what I have learned about getting started.
Choose a name and brand
For me, this is a big part of starting a business. You have to think of a name and a brand that represent the business well. It should be short, catchy, and easy to remember. It should also be legally available, but we’ll get to that later.
Along with a business name, you will also need a unique logo if you want to go professional. In fact, you can go to Fiverr and get a logo created for about $ 100. A professional-looking logo pays off.
Decide how you will run your business
Will you operate as a sole proprietorship, partnership, LLC, or corporation? I am not a lawyer or an accountant, so I cannot tell you what is best for you. I suggest you consult with a professional to decide. Each category has its own legal and tax implications.
Register for Tax
Go to the Department of Revenue website and register your business to pay sales tax and make sure you collect and track the taxes. If you use one of the online booking software programs, it makes it extremely easy to track and then pay your taxes annually, quarterly, or monthly.
I recommend that you do not buy used inventory. If you are going to start an inflatable home rental business, you need to get it right. You can save a few bucks up front by buying used inflatables, but it’s not worth it in the long run. Most of the time, you will have your money back after approximately 10 rentals. That could happen in as little as five weeks.
There are also options for financing inflatables through manufacturers, and I wouldn’t recommend this route either. The interest rate is outrageous. It’s relatively easy to get a business credit card at first if you have decent personal credit. Most of the time there is a 0% interest rate for the first year. Take advantage of that!
Below are some of the companies I recommend buying inflatable houses and water slides from.
Companies that sell inflatables
- Leisure activities USA
- Jump orange
- EZ inflatables
- Bouncing angels
- Unique sweaters
Set your prices
One of the biggest challenges is determining how much to charge for your services. My general rule of thumb is to charge 10-12% of the new purchase price of the unit. This allows profits to grow steadily with a decent pay for your work.
Make sure to check your competition and not prices lower than what they are. Find other licensed and insured companies that you would like to be and see what they charge. Do not compare their prices with those that only operate in the Facebook market or anything like that. These are the low-ballers you don’t want to look like.
In Florida, you don’t need to have insurance, but I wouldn’t be caught without it. I recommend Cossio or The Friedman Group.
Get a website
There is a lot of controversy over which software provider to use in the party rental industry. However, my suggestion is to create your website with an integrated reservation software. This makes life so much easier since you don’t have to spend all day taking calls.
Top 3 Party Rental Software Companies
- Event rental systems
- Inflatable castle network
- Inflatable office
Please review all three and make a decision based on what is right for you.
The absolute best way to market party rentals is through Google Ads. This puts you in front of people searching for your product. You can also use Facebook ads, but I wouldn’t start there.
Grow your business
The absolute best way to develop your business going forward is to provide amazing customer service. Make sure you have a Google My Business account and request reviews. Nothing will help you grow faster than previous customer recommendations and word of mouth. Treat each client as if they are the most important person in your life and always do things with integrity. This will make you successful in the long run.
This article is accurate and true to the best of the author’s knowledge and belief. The content is for informational or entertainment purposes only and is not a substitute for personal advice or professional advice on business, financial, legal or technical matters.
© 2021 Megan Garcia