Becoming an Entrepreneur
How to Start a Canoe & Kayak Rental & Leasing Business
Opening a canoe and kayak rental business is an excellent entrepreneurial opportunity as long as you separate yourself from the competition. This article contains tips and advice to give you a jump-start on planning for your business.
Wondering how to start a canoe and kayak rental business? We take you step-by-step from start to success.
Paddling Sports Industry Essentials
In the U.S. outdoor and adventure retail is a $20+ billion a year industry, and paddle sports like kayaking and canoeing command a sizeable piece of the marketplace. Nearly 18 million Americans participate in kayaking and/or canoeing annually.
For many paddle sports enthusiasts, boat rentals are the only way to get out on the water. With good quality canoes and kayaks running more than $1k each, it's difficult to outfit an entire family with their own craft. So instead, families and occasional paddlers lease kayaks and canoes from paddle sports centers on an hourly, half-day, daily or weekend basis.
Best Locations for Kayak & Canoe Rental Startups
Finding the right location is one of the first challenges your kayak and canoe rental startup will need to address. It goes without saying that proximity to recreational water is a prerequisite for paddling sport rental operations. But that isn't the only issue you'll have to contend with when it comes to location selection.
Ease of access, visibility, parking and host of other factors also come into play. If possible, try to find a location on the water, with ample parking and fair volume of drive-by traffic. If you need to prioritize features, convenience to water is typically the most important characteristic to target in your startup strategy.
Additional Paddling Sports Revenue Streams
Few paddling sports operations survive on rentals alone. In many areas, rentals are a seasonal business and unless you are able to generate additional revenue streams, it may be hard to pay the bills during the off-season.
Canoe and kayak sales, classes, online retailing and other activities are natural fits for businesses that major in paddling rentals. You may even want to explore the idea of providing monthly storage services for privately owned vessels as a way to create a small stream of recurring revenue during the off-season.
Successful Business Plans for Canoe & Kayak Rental Businesses
An effective business plan is your canoe and kayak rental business's stepping stone to profitability and long-term success.
At the end of the day, your canoe and kayak rental business can't afford to skate by with an inferior business plan. The evidence overwhelmingly supports the fact that your startup can't achieve long-term success without an accurate business plan.
From a business ownership perspective, that makes business planning your first priority - and not a task that can be assigned to the back burner.
Check Out Competitors
Prior to launching a canoe and kayak rental business in your town, it's worthwhile to determine what the competition looks like. Use the link below to get a list of local competitors near you. Complete the form by entering your city, state and zip code to get a list of canoe and kayak rental businesses that are close by.
Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering.
Learning More About the Industry
If you are interested in starting a canoe and kayak rental business, it's essential that you have a conversation with someone who is in the business. If you think owners of nearby canoe and kayak rental businesses will give you advice, think again. Why would they want to educate a future competitor?
Fortunately, somebody who runs a canoe and kayak rental business on the other side of the country may be more than happy to give you a few tips, after they realize you reside far away from them and won't be stealing their local customers. In fact, they are often very willing to share startup advice with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How do you locate an owner of a canoe and kayak rental business that lives outside of your area?
Easy. Find them using our link below and start calling until you are successful.
Business Brokerage for Canoe & Kayak Rental Business Entrepreneurs
Business owners are decision makers. And the first decision you'll need to make is between a canoe and kayak rental business startup and an acquisition. In most cases, there are compelling financial and practical reasons buying an existing canoe and kayak rental business.
A qualified business brokers can provide a range of services designed to ease your transition into business ownership.
The best business brokers will ensure that you get the right business for the right price, and will help you avoid common canoe and kayak rental business acquisition mistakes.
Is Franchising the Right Option?
Not looking forward to creating work routines and policies from scratch? Maybe you need to consider a franchise startup. Solid franchise opportunities equip startup owners with training and other resources designed to streamline workflows and operations.
With many canoe and kayak rental business franchise opportunities to choose from, we recommend visiting our rental franchise directory to determine which franchisors are consistent with your vision and goals for your startup.
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