How to make money from equipment rentals

5 tips to rent your equipment and make money this season

Posted by Nicole Kow on May 30, 2016

Renting out your equipment can be a great alternative source of income for your company, especially if you are located in a destination well-known for outdoor activities. Think surfing in Bali, skiing in the Alps or cycling around Copenhagen.

Interested in making more dough renting out your equipment this season? Here are 5 ways to do so.

1. Make it bookable online

Allowing customers to book your equipment online can be a serious competitive advantage. Coupling this with the ability to pay online allows customers to easily create a great holiday experience for themselves. They no longer have to scour the destination to look for a company with extra gear to spare, they have it booked and ready to go upon arrival.

 

2. Provide real-time availability

If your customers want to know if they can go scuba diving on Thursday at 3pm, having a live inventory really helps you (and them) speed up the booking process. Customers can head over to your website and find out if their schedule matches your availability. It really is that simple. Having a live inventory that shows you when you're available in real-time also helps you run your business more efficiently.

Why not rent a kayak?   

3. Upsell customers 

Upselling customers is not a new business tactic, in fact, it's widely practised by airlines, hoteliers and many more in the travel industry. It's another way for companies to earn extra income.

You can also offer add-ons to your equipment, such as renting out audio guides, offering professional photography packages, meals, and even merchandise.  

 

4. Offer discounts 

Need to kick-start this area of your business? Why not offer group discounts or last-minute deals? You could also offer discounts to returning customers to build a better relationship and keep them coming backSend them a discount code to enter upon checkout and watch your customer base grow. 

 

5. Promote it online! 

Market your rental service to your customers on social media, on your website and even through email newsletters to make sure that people are aware of it. You could even use great visuals and videos to promote your destination and the activities that you offer. 

Do you rent out your equipment? Share some of your top tips with us in the comments below!

 

Learn more about TrekkSoft's rental feature, online booking and payment system. It was created to help business owners like you.

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Nicole Kow

Written by Nicole Kow

Having graduated from the UK, Nicole travelled around Europe before joining TrekkSoft's marketing team. She is now based in KL and regularly blogs about her travels at Next Train Out.

Topics: Business advice

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