Contrary to what many people think, you don’t have to be a major dealer or rental agency to rent out RVs.
In fact, all you need is one Recreational Vehicle (RV) to get started renting it out to other people and begin generating a passive income.
Planning for RV rental business?
Here are five questions you may have about starting an RV rental business, and some answers to those questions:
Question #1 – Is Renting RV’s A Good Fit For You?
As was mentioned above, all you really need to do to get started renting an RV is to have an RV available to rent.
That being said, renting out RVs will be an even better fit for you if you have any experience whatsoever in retail and in running a business. Knowing how to work with customers will also be invaluable knowledge and experience before renting an RV.
Question #2 – How Will You Make Money Renting RVs?
You’ll make money from the daily fees you charge to rent your RV. You can use Outdoorsy resources to help you find what the average rental prices are in your area, and then you can price your RV’s below the average.
Obviously, the more RV’s you have available to rent, and the more interested customers you have, the more money you’ll make. It’s possible to make a few hundred to a few thousand dollars a month in passive income, depending on how much your business grows.
Question #3 – What Costs Are Involved With Renting RVs?
If you don’t have any RV available to rent, purchasing one to rent out to others will be your first startup costs. Another expense that you’ll face as well is the cost of maintaining your RV and keeping it clean for customers, as well as personal liability and business insurance. If you plan to start a website or blog for your business, too, you’ll need to pay to have it created.
Question #4 – How Can You Promote Your RV Rental Business?
The best way to market your RV rental business will be on RV rental sites, where people will search for RV’s available to rent in their area. You can also go old school and set up fliers around town as well, though honestly, in today’s digital age, marketing on rental sites is your best bet.
Question #5 – How Can You Keep Your Business Sustainable?
The short answer is you need to build a reputation. Keep any RV’s you have available to rent clean and well-maintained, and forge good relationships with your customers so they’ll spread the word. Even if you’re not a people person, you should still act pleasant to be around, and you should also absolutely honor any agreements you make with your customers.
Starting An RV Rental Business
Hopefully, these five questions and answers have helped give you a solid idea of what running an RV rental business will entail for you.