Over the last few years, a number of solopreneurs and small business owners have decided to start a dynamic, exciting, fun and of course, profitable party bus rental company. If you’re among the folks who want to enter the “club on wheels” marketplace in your area, then here are three key things to keep in mind before you launch:
Get Your Funding Strategy in Place
While starting a party bus rental company isn’t excessively costly, it’s typically not something that you can do using personal savings, or probably even after a “friends and family” round of financing. For example, presuming that you don’t already have a suitable party bus, you’ll need capital to purchase, finance or lease one — or possibly more than one if you want to start building a fleet right off the bat.
Other start-up costs include either getting your commercial driver’s license and insurance (or hiring a professional driver), permits, business licensing, marketing and advertising (online and offline), etc. And while fuel is an ongoing cost, it’s important for you to keep in mind that party busses aren’t gas sipping hybrids, and they need to be properly maintained and cleaned on a regular basis.
Specialize and Differentiate
Whether you choose to target a particular niche — such as corporate events or weddings — or try to appeal to a broader target audience (i.e. anyone and everyone who needs a party bus), you want to clearly define your brand identity, and ensure that your current and future customers understand what makes you different, special and worth choosing.
For example, you may identify that white glove service or creative packages (e.g. “Unforgettable Bachelor Party Adventure”) will help you stand out in a crowded marketplace. Remember, you aren’t just competing with other party bus rental companies in your space — you’re also in some respects trying to grab mindshare and marketshare from customers who might otherwise choose a traditional stretch limo, or even a charter bus.
A Great Website is a Must
One of the most common questions you’ll get — if not the most frequent — is “what does a party bus look like?” Naturally, you can invite your customers to have an in-person tour. But since this obviously isn’t convenient for most people, the next best option is to point them to your great mobile-friendly website where they’ll find videos and photos, along with other useful information like customer testimonials (don’t worry, they’ll start adding up!), articles, and so on. An established party bus rental company that does this particularly well is St. Louis-based All About You Limos.
The Bottom Line
If “wowing” people is in your blood, and you want to join a growing industry that rewards businesses that do the right things the right way, then a party bus rental company might be a perfect fit. Do your homework, ask questions, put your comprehensive business plan together, and if the stars align: go for it and hit the road!