Nowadays golf cart rental business is becoming popular as it makes a quick profit. So many of us want to know how to start a golf cart rental business. Well, starting a cart rental business is easy, but you need to follow the proper strategy to avoid loss.
The best thing about this business is it is very convenient to run, and you can remotely organize it instead of always being available at the store. Customers can call you for the cart delivery over the phone, and you can arrange it. So that saves valuable time.
Moreover, you need a low amount of investment to start a golf cart rental business. You just need to follow the right approach to make your rental business successful. We are going to share an ultimate guide to making your rental business hassle-free. We also give some tips to make your golf cart business profitable. So let’s explore the secret about the golf cart rental business.
How to start a golf cart rental business
1. Explore the Golf cart industry
Before starting any business, it is highly essential to learn about that industry. You need to study your competitor’s strengths, weaknesses, and everything. You must list out the top 10 successful golf cart rental companies and 10unsuccessfull start-ups. This study report gives you some valuable data about their success or failure. You need to avoid the reason behind failure and adopt the strength skill to boost up your new business.
This study is highly essential to make your business potential. The different rental business company provides different type of golf carts to rent. Some golfers take cart rent for only 1-2days. So they don’t want to buy the cart for a few days of use. You need to find out golfers who don’t have their carts to announce your cart rental services.
After a specific period, you will get back the cart as well as the rental fees. So you can buy multiple golf carts to make more rental fees according to market demand. But don’t buy a lot of carts at the beginning. You need to gradually increase the number of carts depending on the customer demand. The market research will also help you to know how much the cart is going to rent on average. So that you can invest in a safe quantity.
2. Business analysis
Most golf cart renting companies target golfers or golf farms, course providers, and many more to increase their customers. You can analyze the successful rental company to find out their target audience. The key to being successful is reaching the right target audience. You can also list out the type of golf cart they are using. The golf cart has different varieties, speeds, and designs. Depending on the golfer’s choice, you need to buy the best cart to attract the golfer.
3. Marketing
Marketing strategy can create a big difference in rental business growth. A simple step can change the whole game. So you need to find out the right audience to do the marketing effectively. In the first phase, it is important to spread your name. So you can sponsor some pro golfers or club management to reach new and old golfers.
Social media marketing, digital marketing, email marketing, etc also works great to boost growth. You can also visit some big golf tournament with refreshing drinks and free cart ride offer to spread branding. Try to do something exceptional promotional campaign to attract golfers to your services. However, you need to evaluate the below basic marketing step to establish your cart rental business.
Create a website
Now this modern era of business is incomplete without a website. Customers don’t have time to visit shops to book a cart. They like to browse online and instantly book a cart from any place. The website also gives you the freedom to reach a huge customer by breaking the distance.
So make a responsive golf cart rental website that is easy to use. Attach a picture of your cart with the rental cost. So that people can easily check the cart and book their favorite golf cart conveniently. Besides, you can add some videos to represent the mobility power of your cart. You can also update the status of whether a cart is already booked or available for rent. A potential customer can search their cart model to take rent. You can also add suggestions on choosing the best cart model. It is easy to build up websites from a developer, or if you have the technical skill, you can build your site. But after completing the website, it is a must to do SEO and digital marketing to let people know about your site.
Advertise
You can also plan for Google ads to reach your target audience. Use a promotional banner to give paid ads on Google, Facebook, and many more. You can also give advertising on billboards or on Television, depending on your budget. This type of ad can quickly spread your brand name.
Social media marketing
Nowadays, everyone is active on social media. So you must create your golf cart rental businesses page on different social media to promote your services. You can open an account on the below platform:
- Youtube
This platform account will help you to do unpaid promotions. You can reach too many audiences to announce your services, offer or discount.
Business Plan
After research and market analysis, set your own plan. You need to fix the name, rental cost, investment, marketing cost, store cost, and everything before jumping into the business.
After calculating the total cost, you can easily compare whether it brings profit or loss. Because according to market research, you already know how many clients you can get or how much profit you can earn. Make a written business plan with yearly objectives. It helps you to work hard to achieve the goal. You can easily convince the investor about your business growth. The best practice is to make a detailed plan, including the below sector:
- Employee summary
- Business goal
- Market Research
- Competitors analysis
- Promotional offer
- Marketing plan
- Total costing
- Service cost
- Funding details
- Investor list
You can use any business plan software such as Zira or BizPlan to evaluate your plan. A professional and written business plan is the foundation of your start-up.
4. Promotional offer
To make a rental business successful, it is important to sustain it in the market. So you can announce some promotional offers such as a free trial, 10% discount, etc to make the rental services popular.
Once the golfer tries your cart, they must get back to you as you offer a premium cart. You should maintain the delivery schedule accurately to win customers’ hearts.
5. Register your company
To start your rental company, it is mandatory to register it legally. You need to register the business structure appropriately to avoid tax and legality issues. Here we are highlighting a different type of business structure so that you can pick the right structure for your company.
Sole proprietor
When a business is owned by a single person or couple, that is called an unincorporated business. This type of business requires a simple registration, and you can return tax as a personal return.
General Partnership
When any unincorporated business own by multiple owners but operate it as a sole proprietor business, that is a general partnership. Here registration and tax return are the same as a sole proprietor.
Limited Liability Company( LLC)
If any Business Company offers individual liability protection to all the members that are LLC. In this case, you can pay tax as a partner or Corporation, depending on your choice.
Corporation
The most common type of Corporation is S-corporations and c-corporation. The tax depends on the type of corporation you select for your company.
Now you know about different types of business structures. It is time to register your company to get licenses and meet all the labor laws. Read the legal regulations about the golf cart rental business to avoid future hassle.
Choose the right business structure to pay the appropriate amount of taxes. You can hire a tax professional to ensure that you choose the right business entity. If you need an employee, then you need to obtain EIN. You can obtain an employee identification number (EIN) when you pay taxes for your business. This is also mandatory to open a business account in a bank and apply for a credit card or business loan. So don’t forget to collect your EIN number.
6. Arrange fund
Okay, a golf cart rental business requires a minimum amount of investment. You can’t limit the services to one or two carts, right? So arranging investment is also important. You need to buy some expensive golf carts to attract golfers. Then marketing, employee costs, and many more require investment. You can take a loan, partner, or source for investors to start a small rental business. But you need the below documents for arranging funds.
- An organized cart rental business plan
- Financial documents
- Tex returns
- A written document about business share
- A statement that declares the details about golf cart rental services
When you manage all the documents, you need to decide how much money you want to invest. Then choose a bank for funds or contact p2p leaders to collect funds.
Top 3 must-have golf cart
CaddyTek Golf Push Cart
CaddyTek is a great choice for golfers because it brings one-click folding. So after reaching your destination, you can easily fold your cart. It is super lightweight.
It brings 4 big wheels to make your rolling easy, even on heavy grass or terrain surfaces. The unique four-wheel design offers enough trunk space for easy storage. Cushioned front wheels, multiple handle positions, and smooth-rolling ball-bearing wheels make golfers ride effortlessly on all types of terrains. Besides, you will get space to carry beverages, an umbrella, and more. The built-in mini cooler can give you ice cold vibe even on the hottest days.
Pros
- Plenty of storage
- Stable ride on all types of surfaces
- Easy to assemble
- Foldable
- Perfect for any height
- Very sturdy
Cons
- Straps are flimsy
- The umbrella holder is poor
BagBoy Nitron Golf Cart
BagBoy Nitron introduces a sleek design golf cart. It offers different color variations with some unique features. This cart allows one-click folding within a second. So you can conveniently fold it during the tournament.
BagBoy is designed with piston technology that ensures a smooth ride on any kind of surface. It comes with a handle-mounted parking brake that ensures golfer safety. So you can enjoy the high speed with proper protection.
However, it also offers beverage holders, mobile holders, and golf ball storage. That makes it popular to the golfer. You will also get an adjustable strap to extend your safety. Even it offers a top lock system to attach bags to the carts.
Pros
- Easy to assemble
- Stable and impressive speed
- Durable
- Lightweight
- Easy folding
Cons
- The wheels are a bit noisy
- The braking system is a bit weak
CaddyTek Explorer V8 golf cart
Thia caddyTek explorer is a four-wheel golf cart that can meet all types of golfers’ needs. The simple, compact design with an easy folding mechanism makes it popular. It offers durable and maintenance-free wheels. That makes your ride hassle-free.
It is designed with a strong aluminium frame, so it will give long-lasting services. As a renting agency, you must pick this masterpiece cart. It is super easy to push around any golf course.
However, it also provides an adjustable handle to fit any person. It also allows attaching any size of the golf bag to the cart. You will also get an umbrella holder, a foot brake, and multiple compartments that make your riding easy. This is an absolute value-worthy choice for a golfer if you want a pushcart.
Pros
- Attractive design
- Durable construction
- Easy setup
- Lightweight
- Easy to ride
Cons
- Storage capacity is low
- Need some effort to push the cart
Final verdict
I hope you get your answer to the million-dollar questions on how to start a golf cart rental business. We try to share a step-by-step guide to making your rental business successful and sustainable. If you follow these tips, you must be successful in making revenue from the golf cart rental business.
If you don’t have proper marketing knowledge, then you can hire professionals to run effective ads or do website ranking. This little investment can bring a double return in the long run. You just need to assign the right people to the right department to bring the best outcome. If you can create a proper plan and execute it strategically, then business growth is a must. So keep patience and work on your passion.