Starting a profitable rental paddleboard business.
If you've been on the fence about starting a paddleboard rental fleet, now is the time to jump in and get going. It's no secret that paddleboarding is still growing in popularity, andevery year more people are looking to get on a rental paddleboard for the very first time.
You can see from Google search trends how the sport of stand up paddleboarding increases in popularity year after year.
The basic equipment to get started with a rental business is:
Rental Specific Paddleboards
Rental Specific Paddleboards
patrons who will be marketing for you by telling friends and family about how much fun they have had.
Having a rental specific paddleboard will make all of the above much easier. What exactly is a rental board?
The Glide Rental board was made for first time users, it's designed with a flat bottom where you stand for stability. It also has lower rocker so first time paddlers can become proficient rapidly, this increase in speed will give them more stability and more confidence. And the full length deck pad with a flat surface makes for a very comfortalbe surface for the user to stand and bring along kids, or the family pet.
And most importantly for you, the business owner you will want a board that is durable enough to handle the daily abuse your renters will put on the board. There is no other rental specific boards on the market that withstand this like a Glide board does.
Paddles come in all shapes and sizes. An ideal rental paddle will have a durable blade, a strong shaft, and a adustable handle. We recommend a plastic blade with a fiberglass shaft.
As simple as this sounds, you will want a paddle that floats. Many of the inexpensive paddles on the market do not float, and your renters will eventual drop and lose a paddle. Our account specialists will be able to recommend paddles that will fit in your budget.
While leashes are not required by law, we highly recommend you consider adding them to your rental fleet. Safety is your number one concern for renters and by having them use a leash you add an extra layer of safety. If you customer falls off the board, they can accidentally kick the board away from them. Having a leash on will allow them to get back to the board quickly, and keep it from being blown or swept away.
Starting your rental business.
Now that you know the basics as to the equipment you will need to get up and running, its time to focus on your business and calculating your ROI. Your ROI will be effected by the activities that you offer.
Rentals only. The customer will rent the board and enjoy it for an hour or a day.
Lessons. Will you or your staff offer lessons in addition to the rentals? Lessons are a great way for you to make extra money, and to provide a service for first time cusotmers.
Group classes. Group classes can be a fun way to get more revenue out of your rental fleet. These can include intro to paddling, paddling with your pup, and fitness classes like yoga. You can leverage your fleet by offering these value added classes. Our sales team can help you find a Glide Yogi in your area who can potentially teach classes, or to find an instructor who is trained so you can offer SUP yoga classes with your rental fleet.
Guided Tours. A great way to get people out on the water and explore your local waterways. Tours offer a structured way to get first time paddlers on a board and show them a great time, all the while increasing your revenue.
Once you have decided what activities you will offer you can then start work on your return on investment.
BASIC PADDLEBOARD RENTAL ROI CALCULATION.
Board Cost = $798 for a Glide Rental 11
Typical rental scenario: Based on a 2017 survery to over 200 of our current partners that rent Glide boards.
- $20 per hour. The lowest price was $10 per hour, and the highest was $60 per hour.
- 4 rental hours per day. Some of our partners only rented on weekends, Friday Saturday and Sunday, while others offered rentals everyday. This averaged out to 4 rental hours per day.
- 4 days per week. This again was the mean result of our survey for days rented per week.
- 22 Weeks per season. These results also take into consideration rental outfits that have cold winters and short summer seasons.
ROI Calculation $20/hr x 4hrs/day x 4 days x 22 weeks = $7040
The ROI on on a single Glide Rental board averages 782% in one season.
This is a very simple calculator in which you can plug in your own numbers to better suit your location, as well as adding in the classes above to maximize your rental return on investment.
The benifits of a premimum Glide rental board go well beyond year 1. On average our boards remain in a fleet for over 3 years. After the third year, they're sold on average for $450 per board.
An added value of our rental boards is the lack of repairs that have to be done in season. Our partners report that most of the Glide boards in their fleet perform the 3 years without any repairs. Even general maintenance such as cleaning the board and checking for wear and tear is minimal.
The survery also reported that non Glide boards used for rental had an average repair of once every 3 weeks. These repairs cost the business not only the out of pocket expense of repairing the board, but the downtime while it was in the shop for repairs. This averaged 2 full days of no rental revenue.
Ready to get started?
We know you have many choices when it comes to starting or expanding your rental fleet. We at Glide want to partner with you to make it as easy and succesful as possible. Reach out to our team and let our years of experience work for you. We will help you with:
- Ground level framework for a startup rental operation.
- Finance options.
- Connecting you with insurance companies.
- Planning your rental fleet, which boards and how many will be most beneficial.
- Transitioning an existing rental fleet to using Glide's rental specific paddleboards.
- Experience working with municipalities.
- Understanding the necessities of working within the University Rec programs.
- Marketing assitance.
Our team has over 8 years of working with rental operations of every size. We would like the opportunity to form a lasting business relationship with your current or start up rental operation. We provide assitance at no charge and would the oppurtunity to work with you and see if a rental business will be the right fit for you.
Give one of our account specialists a call at 1-888-927-9405 or send us a email at email@example.com