Starting a business can be really scary, especially when you never started a business before. A rental company can bring in a pretty good cash flow no matter if the business is part-time or full-time. Nick Glassett, the owner of It’s The Jump Off Bounce House and Waterslides, gave 11 really good tips for starting a business.
Tip #1: People Business
An inflatable rental business isn’t about the inflatables but the people. It’s all about your clients what they need and how you can provide for them.
Tip #2: Just Go
You’re not going to be a pro at the rental business on your first try. It will be scary to do something new or doing something you’re not comfortable with but it is ok to fail because you still went and did it. Just go and figure it out on the way.
Tip #3: Nothing’s Impossible
Never use the phrase “it’s impossible” because nothing is impossible. With a lot of hard work, you can pull anything off.
Tip #4: Hire People
When you have your business all set up and you’ve taken on a few clients it’s time to hire another person. When your business starts to bomb it will be hard to do all the deliveries, pick-ups, cleaning, paperwork, etc. all on your own. Hire a hard worker, split the duties in a qualified way and it will be smooth sailing from there.
Tip #5: Good Equipment
The bigger the inflatable the better the rental sales are but it will become extremely hard to pull around a 500-pound waterslide with a tiny dolly or truck. Investing in good quality equipment will be worth it in the long run.
Tip #6: Facebook Group
The best part of building an inflatable rental company is that the community for this business is extremely nice. By joining the bounce house and rentals operators Facebook group you can ask any questions you may have and get responses immediately. Most of the time the question you have had already been asked and you can easily look it up in the Facebook group.
Tip #7: Stay Aggressive with Yourself
Every time you do a delivery or a pick-up do something different from the routine. Put the inflatable in the trailer a different way, clean them with a new technique, or unpacking a different way. All of this will help you grow as a business owner and help you move faster during deliveries and pick-ups.
Tip #8: Pay Well
The people you hire are the most important aspect of your company. By paying your employees well, they will see how much you appreciate them and what they do. Pay them well and they will stay.
Tip #9: Become a Marketer
With building a new business, you will need to learn how to market your business. Learn how to use Facebook ads and see how they connect with Instagram. Look into google ads and making a website. But one of the most important marketing tools is Word of Mouth. By giving your clients a good experience with your inflatable, not only will they come back for more but they will tell their friends and neighbors and families about how great your company is and would recommend them to give you a call.
Tip #10: More Content
The more active you are on social media the more opportunities you could potentially have. For example, Nick Glassett is always posting on his Instagram story and he had said that he has gotten a few opportunities for the franchise. Don’t be afraid with your social media and just start posting!
Tip #11: Get a Finance Guy
Getting a good finance guy and a good CPA is so important for your business. They will help you with all of the taxes and how to pay your employees and give you money advice. Very important to have these two in your pocket.
There you go! These are the 11 tips from Nick Glassett, check out the full video and all of his other ones. Good luck with your new business and look into some of our inflatables to help start you off!