How to Start an RV Rental Business
A RV rental business provides affordable options for people looking to rent various styles of RVs. Rentals are an appealing option for those customers who enjoy exploring the country in an RV, but don’t want the commitment of owning the recreational vehicle.
Learn how to start your own RV Rental Business and whether it is the right fit for you.
Ready to form your LLC? Check out the Top LLC Formation Services .
Start an rv rental business by following these 10 steps:
- Plan your RV Rental Business
- Form your RV Rental Business into a Legal Entity
- Register your RV Rental Business for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your RV Rental Business
- Get the Necessary Permits & Licenses for your RV Rental Business
- Get RV Rental Business Insurance
- Define your RV Rental Business Brand
- Create your RV Rental Business Website
- Set up your Business Phone System
We have put together this simple guide to starting your rv rental business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas .
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
What will you name your business?
- What are the startup and ongoing costs?
- Who is your target market?
How much can you charge customers?
Luckily we have done a lot of this research for you.
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our RV Rental Business Name Generator
If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
When registering a business name , we recommend researching your business name by checking:
- Your state's business records
- Federal and state trademark records
- Social media platforms
- Web domain availability .
It's very important to secure your domain name before someone else does.
Want some help naming your rv rental business?
Business name generator, what are the costs involved in opening an rv rental business.
If you are opening a new start-up, your costs may be substantially higher, as you’ll need to purchase one or more RVs. If you take over an existing business, though, the costs may be lessened or worked into the overall pricing of purchasing the business. Either way, you will need to invest in at least a few RVs to get started. Additionally, you will need business and personal liability insurance, a webpage for the business, and an investment in marketing and advertising options, in order to spread the name of your business. Since many entrepreneurs don’t have the capital on hand to initially invest, you may want to research financing and investment options, either independently or through a lawyer or accountant. If you already own an RV, most of your start-up costs are nullified, and you can focus on advertising your services.
What are the ongoing expenses for an rv rental business?
Since the RVs are the cornerstone of your business, the maintenance and upkeep costs will be your biggest concerns. Other costs will include:
- Regular tune ups, oil changes, and replacement parts
- New tires, balanced, and alignment
- Cleaning and interior maintenance, including bathrooms, bedding, and upholstery
- Insurance for the RV and renters
- Partnership and advertising through an RV rental platform, if you choose to use such a service
Who is the target market?
Individuals, couples, and families, who enjoy camping and outdoors activities, but want more of a home away from home than a tent, will be your primary target market.
How does an rv rental business make money?
A RV rental business makes its money from the rental fees collected from customers. The fees will fluctuate, depending on the type of RV and the length of time the RV will be rented.
Rental pricing will varies, depending on the type and age of RV. $100-200 per day is average pricing for Class A-C motor homes which are 10 years or older, with an additional $100-200 per day for newer RVs. You will need to do some independent research to determine the pricing in your region of the country and price your own rental(s), accordingly.
How much profit can an rv rental business make?
Depending on the number of RVs you have available for rental, you could see profits anywhere between $5,000-30,000 annually.
How can you make your business more profitable?
Consider renting your RV for in town events, such as sporting events, community gatherings, and concerts. Many people will forego hotel rental for an option to have greater freedom to come and go and move locations, as needed. The shorter trade distance will also save mileage on your RV and you can charge the same price per day.
Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!
STEP 2: Form a legal entity
The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your rv rental business is sued.
Form Your LLC
Read our Guide to Form Your Own LLC
Have a Professional Service Form your LLC for You
Two such reliable services:
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .
Open a business bank account
Besides being a requirement when applying for business loans, opening a business bank account:
- Separates your personal assets from your company's assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.
Get a business credit card
Getting a business credit card helps you:
- Separate personal and business expenses by putting your business' expenses all in one place.
- Build your company's credit history , which can be useful to raise money later on.
Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Make LLC accounting easy with our LLC Expenses Cheat Sheet.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements
Certain state permits and licenses may be needed to operate an RV rental business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .
Certificate of Occupancy
An RV rental business is generally run out of a sale lot. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). A CO confirms that all building codes, zoning laws and government regulations have been met.
- If you plan to lease a location :
- It is generally the landlord’s responsibility to obtain a CO.
- Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to an RV rental business.
- After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
- If you plan to purchase or build a location :
- You will be responsible for obtaining a valid CO from a local government authority.
- Review all building codes and zoning requirements for your business’ location to ensure your RV rental business will be in compliance and able to obtain a CO.
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.
Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
FInd out what types of insurance your RV Rental Business needs and how much it will cost you by reading our guide Business Insurance for RV Rental Business.
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.
Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .
If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.
How to promote & market an rv rental business
As mentioned previously, linking with a RV rental or share platform will give you access to a greater number of potential customers. There will be a fee involved with such a platform, but this is an excellent method for casting a larger customer net. additionally, create your own Facebook page, Instagram account, and even a personal business website. You may also want to create flyers and pamphlets to distribute at regional RV parks and campgrounds. Getting the word out of what RVs you have and where you’re located is critical for jump starting your Rv rental business.
How to keep customers coming back
As is the case with most independent small businesses, your reputation precedes you. Make sure you’re always offering a clean, well-maintained RV to each renter.
- Offer incentives, such as reduced pricing, for return customers.
- Create travel packages and park guides for RV renters.
- Give discounts for customers writing reviews or adding photos to your rental website. Customer testimonials can be very powerful in capturing and keeping customers.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business .
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Here are the main reasons why you shouldn’t delay building your website:
- All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
- Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
- Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.
Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .
Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2024 to find the best phone service for your small business.
Recommended Business Phone Service: Phone.com
Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.
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Is this Business Right For You?
Those individuals with experience in retail sales, have customer service experience, and/or sufficient mechanical knowledge will gravitate to a business opportunity, such as this. You must also be comfortable talking to potential customers and should have some knowledge of of the state and national park rules and regulations for RV camping.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
Entrepreneurship Quiz
What happens during a typical day at an rv rental business?
A RV rental business thrives on customer interest and a quality RV product, ready to be rented and sent out on the open road. Therefore, day to day activities will focus on the acquisition of new customers as well as the retention of past customers, balanced with the care and maintenance of your RV fleet.
What are some skills and experiences that will help you build a successful rv rental business?
Customer service and positive communication skills are necessary traits for matching your renters with rentals. Talk to your customers to understand what they want and what will be the best fit for their needs. You should also have a fairly extensive knowledge of the different types of RVs available, how they drive, and which units will fit your customers’ needs. Ideally, you should be somewhat of a RV enthusiast, as well, able to convey your own experiences on the road and camping in RVs. Plus, you will need to express some knowledge of the mechanical aspects of each RV and be able to give advice to your clients, both before they have left and once on the road, so they can properly plan for the trip ahead of them.
What is the growth potential for an rv rental business?
More and more individuals, couples, and families are choosing RV rentals as an exciting method for exploring the country. Customers can maintain a temporary home and level of comfort, similarly offered for extended stay hotel suites. The difference being, a RV gives the customers the freedom to visit multiple locations, without having to re-pack a suitcase before each departure. This flexibility gives RV rentals a decided advantage for customers looking to visit more than one destination. Consequently, the RV rental business is becoming more and more popular, with new and return customers looking for exciting adventures on the open road.
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Take the Next Step
Find a business mentor.
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Learn from other business owners
Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.
Resources to Help Women in Business
There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:
If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
What are some insider tips for jump starting an rv rental business?
Since the RV will more or less rent itself, you just have to make sure people are aware of your rental business. This means you will need some sort of marketing blast to spread your company’s name. Employ social media and any free or low cost options through the internet to broadcast your options and contact information. Some independent RV renters will use RV share options, such as RVShare or Outdoorsy as platforms to direct more customers to their RV options. You will pay a fee to the site, but you should also see increased customer traffic and responses to your rental(s).
How and when to build a team
Much of this business will only require one or two people to successfully run it. You will need to be able to answer customer calls and internet inquiries, clean and maintain the RVs, and interact with customers, face to face, when they pick up and return the RVs. But, as your business grows, and the number of RVs you offer expands, you may want to consider taking on a couple more employees, especially if the are capable of assisting in all aspects of the business.
Useful Links
Industry opportunities.
- RV Rental Business Trends
Real World Examples
- Hallmac RV Rentals
- Cruise America Mesa, AZ
Have a Question? Leave a Comment!
We earn commissions if you shop through the links below. Read more
How to Start an RV Rental Business
Back to All Business Ideas
Written by: Carolyn Young
Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Published on May 11, 2022 Updated on December 2, 2023
Investment range
$24,050 - $39,100
Revenue potential
$70,000 - $175,000 p.a.
Time to build
1 – 3 months
Profit potential
$42,000 - $105,000 p.a.
Industry trend
What better way to see the country than in an RV? But a new one can be terribly expensive, which is why the RV rental market has expanded nearly 60% in the last decade, led by industry leaders Cruise America and El Monte. With a bit of an investment, you could start your own RV rental business and help people see the country while making a good living.
But before you hit the road to success, you’ll need some business knowledge. Luckily, this step-by-step guide has all the insights you need to launch a lucrative RV rental business.
Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.
Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .
Step 1: Decide if the Business Is Right for You
Pros and cons.
Starting an RV rental business has pros and cons to consider before deciding if it’s right for you.
- Share Fun – Help people have great vacations
- Low Labor – Once the RVs hit the road, there’s not much work to do
- Good Money – Make up to $200 per daily rental
- High Startup Costs – RVs don’t come cheap
- Insurance – RV insurance can be costly
RV rental industry trends
Industry size and growth.
- Industry size and past growth – The US RV rental industry is worth $356.2 million in 2022 after expanding 58% in the last decade.(( https://www.ibisworld.com/industry-statistics/market-size/rv-camper-van-rental-united-states/ ))
- Growth forecast – The US RV rental industry is projected to grow 2.1% in 2022.
- Number of businesses – In 2021, 177 RV rental businesses were operating in the US.(( https://www.ibisworld.com/united-states/market-research-reports/rv-camper-van-rental-industry/ ))
- Number of people employed – In 2021, the US RV rental industry employed 1,002 people.
Trends and challenges
Trends in the RV rental industry include:
- RV rentals are becoming more and more popular among millennials, who represent the fastest growing segment of the market.
- Consumers want to rent newer RVs, and the most popular are Winnebagos, particular the Vista and Minnie Winnie models.
Challenges in the RV rental industry include:
- Peer-to-peer rental platforms like Outdoorsy, which enable RV owners to rent out their vehicles, are gaining market share.
- Insurance costs for RVs, particularly those used as rentals, are rising, cutting into profit margins for RV rental businesses.
Consumer spending
- Average consumer spend – The average cost of a vacation in the US is $1,558 per person.(( https://www.bankrate.com/banking/cost-of-vacation/ ))
- Potential customer base – According to the RV Industry Association, 72 million Americans plan to take an RV vacation in 2022.(( https://www.rvia.org/news-insights/72-million-americans-plan-go-rving-next-year ))
- Class A RV $175 to $275 per night(( https://rvshare.com/rv/info-for-rv-rental-prices-average ))
- Class B RV $100 to $200 per night
- Class C RV$150 to $200 per night
How much does it cost to start an RV rental business?
Startup costs for an RV rental business range from $24,000 to $40,000 if you start with two RVs. Costs include the down payments on the RVs, a storage space, and a website.
How much can you earn from an RV rental business?
Prices for RV rental range from $100 to $275 per night depending on the class of the RV. These calculations will assume an average rate of $175. Your profit margin after costs of insurance, maintenance, and storage space rent should be about 60%.
In your first year or two, you may have two RVs that are each rented 200 days of the year, bringing in $70,000 in annual revenue. This would mean $42,000 in profit, assuming that 60% margin. At this point, you might add two more RVs and rent them 250 days a year. With annual revenue of $175,000, you’d make a fantastic profit of $105,000.
What barriers to entry are there?
There are a few barriers to entry for an RV rental business. Your biggest challenges will be:
- The startup costs of the RVs
- Competing with RV sharing and RV rental businesses
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Step 2: refine your rv rental business concept.
Now that you know what’s involved in starting an RV rental business, it’s a good idea to hone your concept in preparation to enter a competitive market.
Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.
Why? Identify an opportunity
Research RV rental businesses in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a campervan rental company or an RV rental business that provides an RV park guide.
You might consider targeting a niche market by specializing in a certain aspect of your industry, such as class C motorhomes or luxury class A motorhomes.
This could jumpstart your word-of-mouth marketing and attract clients right away.
What? Determine your RV rental services
Your RV rental offerings should cater to a range of customer needs. Consider:
- RV Types : Start with a diverse fleet that includes various RV classes (A, B, C) and specialized models like campervans or luxury motorhomes.
- Additional Services : Offer value-added services such as RV delivery and pick-up, travel planning assistance, or pre-stocked amenities.
How much should you charge for RV rental?
Prices will depend on the types of RVs you rent and could be up to $275 per night. Even class B and C RVs can go up to $200 per night. After costs of maintenance and insurance, you should aim for a profit margin of about 60%.
Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.
Who? Identify your target market
To identify your target market for an RV rental business, focus on:
- Demographics : Key groups include families, retirees, and young couples or groups of friends seeking adventure.
- Travel Preferences : Target adventure enthusiasts, event attendees, and seasonal travelers.
- Geography : Concentrate on areas with high tourism or near popular destinations like national parks.
- Income Levels : Offer a range of RVs to cater to various budgets, from basic to luxury models.
- Psychographics : Consider values and lifestyles, such as eco-conscious travelers.
- Competitor Analysis : Identify any underserved markets by examining who competitors are targeting.
Where? Choose a location for your RV rental business
Choosing a location for your RV rental business involves considering factors that ensure accessibility, visibility, and convenience for your target market:
- Proximity to Tourist Attractions : Situate near popular tourist destinations like national parks, beaches, or campgrounds.
- Accessibility : Choose a location easily accessible from major highways or roads, facilitating easy pick-up and drop-off.
- Visibility : Opt for a spot with good visibility to attract drive-by customers.
- Local Demand : Assess the local demand for RV rentals. Areas with a thriving tourism industry are preferable.
- Storage and Space : Ensure the location has ample space for storing and maintaining a fleet of RVs.
- Zoning and Regulations : Check local zoning laws and regulations to ensure compliance for operating an RV rental business.
- Security : Prioritize a secure location to protect your assets.
Step 3: Brainstorm an RV Rental Business Name
Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.
Here are some ideas for brainstorming your business name:
- Short, unique, and catchy names tend to stand out
- Names that are easy to say and spell tend to do better
- Name should be relevant to your product or service offerings
- Ask around — family, friends, colleagues, social media — for suggestions
- Including keywords, such as “RVs” or “RV rentals”, boosts SEO
- Name should allow for expansion, for ex: “Wanderlust RV Rentals” over “Luxury RV Rentals”
- Avoid location-based names that might hinder future expansion
- Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.
Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these.
Find a Domain
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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.
Step 4: Create a Business Plan
Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:
- Executive Summary: Summarize the main points of your RV Rental business plan, including your goals and the unique value your rental service offers.
- Business Overview: Introduce your RV rental business, outlining the types of RVs you’ll offer and the geographical areas you plan to operate in.
- Product and Services: Detail the RV rental services you’ll provide, such as the size and types of RVs, rental rates, and any additional services like delivery and setup.
- Market Analysis: Analyze the demand for RV rentals in your target market, including tourist attractions and camping sites, and identify your potential customer base.
- Competitive Analysis: Identify competitors in the RV rental industry, evaluate their rental fleets, pricing, and customer reviews, and explain how your business will stand out.
- Sales and Marketing: Describe your strategies for attracting customers, such as online booking platforms, partnerships with travel agencies, and marketing campaigns.
- Management Team: Highlight your qualifications and any team members’ experience in the RV rental industry, emphasizing your knowledge of maintenance, customer service, and safety protocols.
- Operations Plan: Explain how your RV rental business will operate day-to-day, covering topics like RV maintenance, cleaning procedures, reservation management, and safety checks.
- Financial Plan: Provide financial projections, including revenue estimates, operating costs, profit margins, and startup expenses, demonstrating the business’s financial feasibility.
- Appendix: Include essential documents such as insurance certificates, maintenance records, rental agreements, and any necessary permits or licenses to establish credibility with customers and regulatory authorities.
If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.
Step 5: Register Your Business
Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.
Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!
Choose where to register your company
Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to RV rental businesses.
If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.
Choose your business structure
Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your RV rental business will shape your taxes, personal liability, and business registration requirements, so choose wisely.
Here are the main options:
- Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
- General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
- Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
- C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
- S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.
We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.
Form Your LLC
Choose Your State
We recommend ZenBusiness as the Best LLC Service for 2023
Step 6: Register for Taxes
The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.
Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.
The IRS website also offers a tax-payers checklist , and taxes can be filed online.
It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.
Step 7: Fund your Business
Securing financing is your next step and there are plenty of ways to raise capital:
- Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
- SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
- Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
- Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
- Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
- Personal: Self-fund your business via your savings or the sale of property or other assets.
Bank and SBA loans are probably the best option, other than friends and family, for funding an RV rental business.
Step 8: Apply for Licenses/Permits
Starting an RV rental business requires obtaining a number of licenses and permits from local, state, and federal governments.
Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.
You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more.
You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.
This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.
If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.
Step 9: Open a Business Bank Account
Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .
Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your RV rental business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.
Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.
Step 10: Get Business Insurance
Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.
Here are some types of insurance to consider:
- General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
- Business Property: Provides coverage for your equipment and supplies.
- Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
- Worker’s compensation: Provides compensation to employees injured on the job.
- Property: Covers your physical space, whether it is a cart, storefront, or office.
- Commercial auto: Protection for your company-owned vehicle.
- Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
- Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.
Step 11: Prepare to Launch
As opening day nears, prepare for launch by reviewing and improving some key elements of your business.
Essential software and tools
Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.
You may want to use industry-specific software, such as Guesty , Wheelbase , or Sirvoy , to manage your bookings, rates, communication, and invoicing.
- Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
- If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.
Develop your website
Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.
You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.
They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.
Starting an RV rental business can be a lucrative venture, tapping into the growing demand for experiential travel. To stand out and attract customers, consider these practical marketing strategies:
- Social Media Engagement: Leverage platforms like Instagram and Facebook to showcase the adventure and freedom of RV travel; engage with your audience by sharing customer stories and travel tips.
- Partnerships with Travel Bloggers: Collaborate with popular travel bloggers or influencers to create content featuring your RVs, reaching a wider audience and building credibility.
- Local Event Sponsorship: Sponsor local events such as outdoor festivals, camping expos, or community gatherings to increase brand visibility and attract potential customers.
- Referral Programs: Implement a referral program offering discounts or perks to existing customers who refer friends or family, encouraging word-of-mouth marketing.
- SEO Optimization for Location-Based Searches: Ensure your online presence is optimized for local search engine queries, helping potential customers find your RV rental business when searching for rentals in your area.
- Themed Promotions: Create themed promotions or discounts tied to holidays, seasonal trends, or popular travel destinations to generate interest and boost bookings during specific times.
- Exclusive Packages and Add-ons: Differentiate your offerings by providing exclusive packages or add-ons, such as outdoor equipment, discounted campground partnerships, or guided tour options.
- Customer Reviews and Testimonials: Encourage satisfied customers to leave reviews on platforms like Google, Yelp, or specialized RV forums to build trust and credibility among potential renters.
- Email Marketing Campaigns: Develop targeted email campaigns to keep previous customers informed about new offerings, promotions, and seasonal discounts, encouraging repeat business.
- Fleet Visibility: Utilize high-traffic areas by strategically parking RVs with branded signage to maximize exposure and attract the attention of potential customers passing by.
Focus on USPs
Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your RV rental business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.
Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your RV rental business could be:
- New, luxury RVs for the classiest of road trips
- Sharp campervan rentals to hit the road for less
- We have the perfect RV for your vacation budget
You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running an RV rental business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in RVs for years and can offer invaluable insight and industry connections.
The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in RVs. You’ll probably generate new customers or find companies with which you could establish a partnership.
Step 12: Build Your Team
If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for an RV rental business include:
- RV Maintenance People – repair and maintain RVs
- General Manager – scheduling, accounting
- Marketing Lead – SEO strategies, social media
At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.
Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.
Step 13: Start Making Money!
RV rentals are booming, particularly as the pandemic winds down and people want to get out and enjoy the great outdoors. With 72 million people planning RV vacations in 2022, an RV rental business should have no shortage of customers. You could start your own RV rental business, build up a reputation and soon expand to become a national RV empire!
After reading this guide you’ve got the gist of the business side, so it’s time to hit the road with your successful RV rental business.
- RV Rental Business FAQs
Yes, an RV business can be very profitable. You just need to make sure that your RVs are well-maintained to avoid issues and to make sure your customers have a great vacation.
Prices will depend on the types of RVs you rent and could be up to $275 per night for a class A RV. Even class B and C RVs can go up to $200 per night. Check market prices to make sure you’re competitive.
To differentiate your RV rental business from competitors, consider offering unique features or services such as specialized RV models, luxury amenities, flexible rental options, exceptional customer service, or value-added extras like camping gear or personalized trip planning assistance.
Develop a regular maintenance schedule for routine checks and address any repairs promptly. Establish relationships with reliable mechanics or maintenance facilities experienced in RV repairs.
Implement a thorough cleaning process between rentals, including disinfecting high-touch areas, laundering linens, and thoroughly cleaning kitchen and bathroom facilities. Regularly inspect and maintain safety features such as smoke detectors, carbon monoxide detectors, fire extinguishers, and tires.
Consider offering add-ons such as camping equipment rentals, Wi-Fi or entertainment packages, RV delivery and setup services, or customized trip planning assistance.
Starting an RV rental business on the side is possible, but it requires careful planning and management. Consider the time commitment required for managing reservations, maintenance, and customer service alongside other commitments.
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- Decide if the Business Is Right for You
- Refine Your RV Rental Business Concept
- Brainstorm an RV Rental Business Name
- Create a Business Plan
- Register Your Business
- Register for Taxes
- Fund your Business
- Apply for Licenses/Permits
- Open a Business Bank Account
- Get Business Insurance
- Prepare to Launch
- Build Your Team
- Start Making Money!
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How to write a business plan for an RV rental company?
Putting together a business plan for an RV rental company can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.
We will explore why writing one is so important in both starting up and growing an existing RV rental company, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.
Without further ado, let us begin!
In this guide:
Why write a business plan for an RV rental company?
- What information is needed to create a business plan for an RV rental company?
- How do I build a financial forecast for an RV rental company?
The written part of an RV rental company business plan
- What tool should I use to write my RV rental company business plan?
Having a clear understanding of why you want to write a business plan for your RV rental company will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create an RV rental company business plan.
To have a clear roadmap to grow the business
Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.
In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your RV rental company is vital to establish a successful and sustainable venture.
To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.
Once you have a clear destination for your RV rental company, you'll have to:
- Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
- Determine the pace at which the business needs to progress to meet its objectives as scheduled,
- Recognize and address the potential risks you may encounter along the way.
Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.
To get visibility on future cash flows
If your small RV rental company runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your RV rental company's future cash flows.
So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.
The good news is that your RV rental company business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.
To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.
By diligently monitoring your RV rental company's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.
To secure financing
Whether you are a startup or an existing business, writing a detailed RV rental company business plan is essential when seeking financing from banks or investors.
This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.
Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.
Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.
To do so, they will be looking for evidence that your RV rental company has the potential for healthy growth, profitability, and cash flow generation over time.
Now that you understand why it is important to create a business plan for an RV rental company, let's take a look at what information is needed to create one.
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Information needed to create a business plan for an RV rental company
Drafting an RV rental company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.
Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.
Carrying out market research for an RV rental company
Before you begin writing your business plan for an RV rental company, conducting market research is a critical step in ensuring precise and realistic financial projections.
Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.
In the course of this research, you may stumble upon trends that could impact your RV rental company.
You could find out that more people may be interested in renting an RV for a weekend getaway than for a longer vacation. Additionally, research might reveal that people may be increasingly interested in renting an RV for a special occasion like a family reunion or special event.
Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.
By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your RV rental company.
Developing the marketing plan for an RV rental company
Before delving into your RV rental company business plan, it's imperative to budget for sales and marketing expenses.
To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.
Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.
By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.
The staffing and equipment needs of an RV rental company
As you embark on starting or expanding your RV rental company, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.
Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.
The RV rental company might incur staffing costs such as salaries for employees, benefits, and training costs. They might also need to purchase or lease equipment such as RVs, trailers, and other vehicles, as well as tools and safety equipment. Additionally, they would need to purchase insurance, fuel, and maintenance supplies in order to keep their fleet running.
To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.
With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.
What goes into your RV rental company's financial forecast?
The objective of the financial forecast of your RV rental company's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.
The four key outputs of a financial forecast for an RV rental company are:
- The profit and loss (P&L) statement ,
- The projected balance sheet ,
- The cash flow forecast ,
- And the sources and uses table .
Let's look at each of these in a bit more detail.
The projected P&L statement
Your RV rental company forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.
Ideally, your reader will want to see:
- Growth above the inflation level
- Expanding profit margins
- Positive net profit throughout the plan
Expectations for an established RV rental company will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.
The projected balance sheet of your RV rental company
The balance sheet for an RV rental company is a financial document that provides a snapshot of your business’s financial health at a given point in time.
It shows three main components: assets, liabilities and equity:
- Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
- Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
- Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.
Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your RV rental company's liquidity and solvency:
- Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
- Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.
Looking at the balance sheet can also provide insights into your RV rental company's investment and financing policies.
In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).
The projected cash flow statement
A cash flow forecast for an RV rental company shows how much cash the business is projected to generate or consume.
The cash flow statement is divided into 3 main areas:
- The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
- The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
- The financing cash flow shows how much cash is raised or distributed to investors and lenders
Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.
It is also a best practice to include a monthly cash flow statement in the appendices of your RV rental company business plan so that the readers can view the impact of seasonality on your business cash position and generation.
The initial financing plan
The initial financing plan - also called a sources and uses table - is an important tool when starting an RV rental company.
It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).
Having this table helps understand what costs are involved in setting up the RV rental company, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).
Now that the financial forecast of an RV rental company business plan is understood, let's focus on what goes into the written part of the plan.
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The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.
Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.
The written part of an RV rental company business plan is composed of 7 main sections:
- The executive summary
- The presentation of the company
- The products and services
- The market analysis
- The strategy
- The operations
- The financial plan
Let's go through the content of each section in more detail!
1. The executive summary
The executive summary, the first section of your RV rental company's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.
To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.
Subsequently, provide an overview of your RV rental company's addressable market, highlighting current trends and potential growth opportunities.
Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.
You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.
Lastly, address any funding needs in the "ask" section of your executive summary.
2. The presentation of the company
In your RV rental company business plan, the second section should focus on the structure and ownership, location, and management team of your company.
In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.
Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.
When describing the location of your RV rental company, you may emphasize its potential for customers. The location could have access to a variety of attractions, such as beaches, mountains, national parks, and lakes. It may also have easy access to transportation, such as air and rail links, and be close to major cities. Additionally, the area could have a wide range of activities available, such as golf, hiking, and fishing. All of these factors could make it easy for customers to arrive at the RV rental company and enjoy their vacation.
Finally, you should introduce your management team. Describe each member's role, background, and experience.
Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.
3. The products and services section
The products and services section of your business plan should include a detailed description of the offerings that your company provides to its customers.
For example, your RV rental company might offer customers a wide array of rental vehicles, such as luxury motorhomes, pop-up campers, and travel trailers. It could also provide additional services such as delivery, setup, and pickup, as well as insurance coverage, so customers can rest assured that their rental experience is secure. Furthermore, your company could provide a range of amenities, such as camping supplies, kitchenware, and bedding, to ensure customers have everything they need for a comfortable journey.
When drafting this section, you should be precise about the categories of products or services you sell, the types of customers you are targeting and how customers can buy them.
4. The market analysis
When presenting your market analysis in your RV rental company business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.
The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.
You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your RV rental company, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.
The target market section should follow and zoom on the customer segments your RV rental company is targeting, and explain how your products and services meet the specific needs of these customers.
For example, your target market might include retirees. These customers are likely to appreciate the freedom and convenience that comes with renting a RV. They are often looking for a more adventurous way to travel, and the convenience of having all their living necessities in one place.
Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.
Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your RV rental company.
5. The strategy section
When you write the strategy section of your RV rental company business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.
In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.
The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.
Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.
For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.
Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.
Your RV rental company faces two common risks. The first risk is the potential for financial losses due to customer cancellations. Cancellations may occur due to customer illness, personal emergencies or other unforeseen circumstances. This could potentially lead to lost revenue if a customer cancels and the RV cannot be rented out to another customer. The second risk your RV rental company faces is the potential for property damage. Customers may not be aware of the proper care and maintenance needed for an RV and may cause damage to the vehicle. This could increase repair costs and lead to additional expenses and lost income.
6. The operations section
The operations of your RV rental company must be presented in detail in your business plan.
Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.
Next, clearly state your RV rental company's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.
The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.
You could have key assets such as a fleet of recreational vehicles, and a secure online system to facilitate bookings and payments. Your IP may include a unique branding and logo, as well as a website or app that offers the ability to easily search and book RV rentals. Additionally, you might have customer service protocols to ensure a positive customer experience.
Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.
7. The presentation of the financial plan
The financial plan section is where we will include the financial forecast we talked about earlier in this guide.
Now that you have a clear idea of the content of an RV rental company business plan, let's look at some of the tools you can use to create yours.
What tool should I use to write my RV rental company's business plan?
There are two main ways of creating your RV rental company business plan:
- Using specialized business planning software,
- Hiring a business plan writer.
Using an online business plan software for your RV rental company's business plan
Using online business planning software is the most efficient and modern way to create an RV rental company business plan.
There are several advantages to using specialized software:
- You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
- You are guided through the writing process by detailed instructions and examples for each part of the plan
- You can access a library of dozens of complete business plan samples and templates for inspiration
- You get a professional business plan, formatted and ready to be sent to your bank or investors
- You can easily track your actual financial performance against your financial forecast
- You can create scenarios to stress test your forecast's main assumptions
- You can easily update your forecast as time goes by to maintain visibility on future cash flows
- You have a friendly support team on standby to assist you when you are stuck
If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .
Need a solid financial forecast?
The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.
Hiring a business plan writer to write your RV rental company's business plan
Outsourcing your RV rental company business plan to a business plan writer can also be a viable option.
Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.
However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.
From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).
You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.
The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.
For these reasons, outsourcing the RV rental company business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.
Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.
Why not create your RV rental company's business plan using Word or Excel?
I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your RV rental company business plan. Let me explain why.
Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.
Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.
And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.
Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.
Now, let's talk about the written part of your RV rental company business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.
Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.
- Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
- A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
- Using business plan software is the modern way of writing and maintaining business plans.
We hope that this guide helped you to better understand how to write the business plan for an RV rental company. If you still have questions, do not hesitate to contact us.
Also on The Business Plan Shop
- How to write a 5 years business plan
- How do business plans differ from pitch decks?
- Business Model vs. Business Plan
- How to design your business plan cover page?
- Business plan myths
Know someone who owns or wants to start an RV rental company? Share this article with them!
Founder & CEO at The Business Plan Shop Ltd
Guillaume Le Brouster is a seasoned entrepreneur and financier.
Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.
Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.
Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.
Page last updated on 06 Dec 2023 , as per our editorial standards (originally published on 24 Nov 2023 ).
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Starting an RV Rental Business: How to Create a Plan for Your Project
Starting an RV rental business takes initiative, a collection of reliable tools, and a big sprinkle of determination.
One of the beauties of RV travel is that this lifestyle appeals to a huge number of people. If you’re passionate about traveling in an RV and want to dedicate your life to this business, you are not alone. But, even though there’s a huge amount of happiness and joy involved, starting an RV rental business takes initiative, a collection of reliable tools, and a big sprinkle of determination.
At Wheelbase Pro, we’ve helped countless entrepreneurs with setting up their RV rental business, so we understand the different steps you need to take. There are many variables that will be unique to your scenario, like the laws in your specific location. However, we’ve also realized that almost all successful RV rental business owners go through similar steps to launch a company.
For this reason, we’ve put together an article breaking down the general steps you need to take to establish an RV rental business below.
Are RV Rental Businesses Profitable?
Before going over the steps on how to start an RV rental business, let’s figure out if this is a viable business idea or not.
As with any other business, there are risks involved with starting an RV rental business that go beyond your profit margins. Plus, you may already own one or even two RVs, but you’ll need to grow your fleet and learn how to manage it in order to scale your business. Additionally, RV rentals can be quite seasonal depending on your location, so there might be a slow time of the year that you’ll need to account for.
With all of the above in mind, RV rentals have the potential of being extremely profitable. For starters, RVs are high-ticket items, so many travelers avoid maintenance expenses by paying top-dollar for a rental. Depending on the camper, travelers are often willing to pay more than $200 per night, but remember that the price needs to be in line with the features and amenities in the rental.
So, in simple terms, an RV rental business has a huge amount of potential in terms of revenue, but you need to put in the work and create the perfect environment for your company to thrive.
How to Create an RV Rental Bussiness Plan
Now that we’ve discussed the potential for revenue, it’s time to go over the steps you need to take to create an RV rental business plan and set up your company for success.
Think of All the Costs Involved
Entrepreneurs that set up an RV rental usually consider variables like the cost of the RVs, the rental space itself, and traditional expenses like accounting. But, you also need to think about industry-specific expenses, like camper repairs, upgrades, dedicated business insurance, advertising, and required maintenance like oil changes. This will help you develop a comprehensive budget and prevent you from getting blindsided by unforeseen expenses.
Start Saving Funds
Whether you already own a business or think it will be your first venture, you need to start saving money as soon as you begin planning. Yes, working with a financial institution is necessary, but having some liquidity in the form of cash savings means that you don’t have to wait until your credit gets approved to get started.
If Possible, Work with a Specialized Financial Institution
This may not be an option for every single entrepreneur, but when possible, you should partner with financial institutions that specialize in RV rental businesses. If it’s not possible, you can also opt to work with a bank or similar organization that either helps small businesses or that has a good record of working with regular car rentals and dealerships.
Consider Creative RV Rental Business Models
When starting an RV rental business, most entrepreneurs opt for starting with something basic. The idea is sound because a more basic business should be easier to run. However, in the RV rental space, having a creative approach or model can actually bring you more business. For example, consider marketing your RV as a rental for sporting events or making modifications to a vintage RV to make it stand out. Just remember that you’ll have to provide the right amenities and ensure that there is demand for the theme you choose.
Find the Best Rental Software for Your Business
As part of learning how to start an RV rental business, you need to evaluate booking software and select the best option for your company. Having RV rental software will help you collect bookings even while you sleep, but you need to choose a provider that’s experienced and also creates a safe environment.
At Wheelbase Pro, we’ve developed one of the leading out-of-the-box RV rental solutions for entrepreneurs of all levels. The best part is that our robust software is completely free of charge, so contact us today and our team will be glad to help.
Create Detailed Listings
Solid booking software is a must, but you also have to create detailed listings that include photos, descriptions, and everything else that travelers need in order to make a decision. As part of this step, you can create walkthrough videos that serve as marketing content while also helping customers understand how the features in your RVs work.
Provide the Best Benefits in the Industry
Having additional features in a RV is common and these extra elements allow you to raise the price of your rentals. The problem is that most industry leaders charge a significant amount of money for these features. Instead of strictly following the industry, you should try to deliver the best benefits and try to garner a reputation for being customer-centric.
Maintain Flexibility
Once you have your listing, booking platform, and default feature/benefits list in place, you can basically take your business in any direction. Promoting your rental business early on is crucial, but also remember to maintain enough flexibility to adjust your business plan according to the results you get and the objectives you want to achieve.
Ready to Learn More? Wheelbase Is Here to Help
Establishing an RV rental business takes a lot of hard work, dedication, and passion. But, as long as you plan ahead, develop a comprehensive plan, and acquire the right tools to simplify the process, you’ll be able to position your RV rental company for success.
To find out more about Wheelbase Pro, get in touch with us today and we’ll be glad to help.
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Do you want to know more about Wheelbase?
Get in touch with us today and one of our team members will reach out to further discuss your needs and explain how Wheelbase can support your business.
How To Start A Rv Rental Business
When it comes to starting a RV rental business, you may find yourself in a place where you have to make some big decisions.
You may be asking yourself:
- What's the first step in establishing my business?
- How much will it cost to start my RV rental business?
- How do I price my RV rental business?
- How do I market my RV rental business?
- ... so much more!
We walk you through all of the steps; from idea → starting → launching → growing → running your business.
The purpose of this guide is to act as an outline for the steps you'll need to take to get your business running successfully!
Start A Rv Rental Business ➜ avg revenue (monthly) $80K see all RV rental businesses ➜ starting costs $37.9K see all costs ➜ gross margin 20% time to build 240 days average product price $315 growth channels Organic social media business model E-Commerce best tools Adobe Suite, Quickbooks, LinkedIn time investment Full time pros & cons 32 Pros & Cons see all ➜ tips 7 Tips see all ➜
💡 Introduction To Starting A Rv Rental Business
Is starting a rv rental business right for you.
There are many factors to consider when starting a RV rental business.
We put together the main pros and cons for you here:
Pros of starting a RV rental business
• Flexibility
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
• Meaningful business connections
You never know who you will meet as a RV rental business. This could be the start of an incredible business opportunity!
• High customer retention rates
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
• Pick & choose the clients you work with
Rv Rental Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
• Unlimited income potential
With starting a RV rental business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
• Amazing perks and discounts
Working in the RV rental business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
• Predictable income stream
Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
• Higher likelihood of getting referrals
This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.
• Simple business model
A RV rental business has the advantage of a simple business model, which makes launching and building the business more seamless.
• Greater Income Potential
With this business, the sky is the limit in regards to your income potential.
• You can decide who you work with
Gone are the days of working in a toxic work environment with employees that you may not vibe with. As a small business owner, you get to decide who you work and surround yourself with.
• You establish yourself as an expert
With starting a RV rental business, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family.
• Can build solid foundation of clients
It's unlikely you will have one-off customers as a RV rental business. Typically, you have a solid foundation of clients that use your product and services regularly.
• Results and revenue happen quickly!
Unlike other businesses, it can be relatively quick to start seeing results and revenue. As long as you follow all the steps to validate your idea before launch, you are likely to see quick results and ROI.
Cons of starting a RV rental business
• Motivation of employees
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
• Longer Sales Process
A RV rental business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
• Low margins
The gross margins for your RV rental business are typically around 20%, which can make it more challenging to incur new expenses and maintain profitability.
• High employee turnover
In the RV rental business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
As a RV rental business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
• Niche Market
A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.
• High overhead expenses
With starting a RV rental business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.
• Time commitment
With starting a RV rental business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
• Difficult to build trust with your customer
With starting a RV rental business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.
• Impatient customers
You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.
• Be prepared to get out of your comfort zone!
Although this is exciting for some entrepreneurs, it can be a big challenge for others! You may find yourself in uncomfortable social and business situations, jumping into tasks and responsibilities you aren't familiar with, and pushing yourself as far as you can go!
• You might struggle financially (at first)!
If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.
• Difficult to scale
With a RV rental business, it can be challenging to find ways to scale. Check out this article that discusses scaling your business and the challenges that come with it.
• Learning Curve
When you start your own business, you no longer have upper management to provide you with a playbook for your roles and responsibilities. You should know the ins and outs of every aspect of your business, as every decision will come down to you.
• Equipment Breakdowns
Over the years, your equipment can get damaged, break down, and may need repairs which can be expensive. It's important you prepare for these expenses and try to avoid damages/wear & tear as much as possible.
• Answering Phones
The RV rental business is still considered a traditional business, which means answering phones is a big part of the job. If you or your team miss phone calls, you could be missing out on potential revenue opportunities. If you are unable to attend to your phone throughout the day, it would be in your best interest to hire a call center or an employee dedicated to this.
• Technical issues can be frustrating
Technical issues are common in this business. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration.
• More challenging to earn passive income
It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day.
Big Players
- RVshare (21.3K Alexa Ranking)
- Outdoorsy (21.4K Alexa Ranking)
- America's RV Rental Experts (70.4K Alexa Ranking)
- Motorhome Republic (175K Alexa Ranking)
- El Monte RV (221K Alexa Ranking)
Small Players
- NW Adventure Rentals - Revenue $250K/month
- Fireside RV Rental - Revenue $150K/month
- ROAMERICA - Revenue $10K/month
- Dry Camp - Revenue $2K/month
Search Interest
Let's take a look at the search trends for rv rental over the last year:
How To Name Your Rv Rental Business
It's important to find a catchy name for your RV rental business so that you can stand out in your space.
Here are some general tips to consider when naming your RV rental business
- Avoid hard to spell names: you want something easy to remember and easy to spell for your customers
- Conduct a search to see if others in the space have the same name
- Try not to pick a name that limits growth opportunities for your business (ie. if you decide to expand into other product lines)
- As soon as you have an idea (or ideas) of a few names that you love, register the domain name(s) as soon as possible!
Why is naming your RV rental business so important?
The name of your business will forever play a role in:
- Your customers first impression
- Your businesses identity
- The power behind the type of customer your brand attracts
- If you're memorable or not
It's important to verify that the domain name is available for your RV rental business.
You can search domain availability here:
Find a domain starting at $0.88
powered by Namecheap
Although .com names are the most common and easiest to remember, there are other options if your .com domain name is not available. Depending on your audience, it may not matter as much as you think.
It's also important to thoroughly check if social media handles are available.
As soon as you resonate with a name (or names), secure the domain and SM handles as soon as possible to ensure they don't get taken.
Here's some inspiration for naming your RV rental business:
- Road to Happiness check availability
- All Aboard RV check availability
- Rolling Along check availability
- Road Warriors check availability
- Ocean Breeze RV check availability
- Globe Rental check availability
- Complete RV check availability
- Wheels Up check availability
- Keystone RV check availability
- Checkmate RV check availability
- Classy Chic RV check availability
- RVaza check availability
- Camping Out RV check availability
- RV Ventures Co. check availability
- Freely RVs check availability
- Mobile RVer check availability
- Ironhorse RV check availability
- RVorama check availability
- Easy Trailers check availability
- Breath Deep RV check availability
- Encore Motors check availability
- Happy Camper check availability
- RV Campground check availability
- RV Connections check availability
- Legend Trailers check availability
- Around the RV check availability
- Acumen RV check availability
- RVlada check availability
- Caravan Parks RV check availability
- Wild West RV check availability
- Across the Road RV check availability
- RV Buddies check availability
- Estate RV check availability
- Outdoorsy check availability
- Star View RVs check availability
- Eagle Nest RV check availability
- Wild Road Trip check availability
- Traveller Liberty check availability
- Rock Solid RV check availability
- Path RV check availability
- RVio check availability
- All Coast RV check availability
- Ample RV check availability
- Task Rental check availability
- Road Ryder check availability
- Fun Holiday RVs check availability
- Adventure Bound check availability
- Secure RV check availability
- Rentnetic check availability
- RV Freedom check availability
- RVnest check availability
- New Moon RV check availability
- Road Trippers RV check availability
- Atlas RV check availability
- Holiday Fun RV check availability
- American Way RV check availability
- Alpine Escape RV check availability
- Cool Rides RV check availability
- Autocamping RV check availability
- Big Red RV check availability
- Rentarc check availability
- Get Moving RV check availability
- Acorn RV check availability
- Luxury Bliss check availability
- Up to Speed RV check availability
- Easy Life RV check availability
- Eagle RV check availability
- Control Rental check availability
- Electric RV check availability
- RVgenix check availability
- Our Camper check availability
- Rolling RV check availability
- Go Camping check availability
- Camping in Style check availability
- Camping Fun Ride check availability
- The Solitary check availability
- The Brown Caravan check availability
- Stolen Minibus check availability
- Celebrated Camp check availability
- Lightweight check availability
- Trailer Spot check availability
- Invloed Car check availability
- Motor Car check availability
- The Red Truck check availability
- Camper Collective check availability
- Careless Canoe check availability
- 1a Pro check availability
- Postal check availability
- The Battered Motor Home check availability
- Lady Camp Co check availability
- Green Truck Spot check availability
- Red Avant Garde Co check availability
- GreenCamper check availability
- Lady check availability
- Big check availability
- The Individual Camp check availability
- Time Motor Home Collective check availability
- Unhappy Minivan Spot check availability
- SeniorCamper check availability
- The Stokely Car check availability
- Huge Minivan check availability
- Trailer Co check availability
- The Recreational check availability
- The Attractive check availability
- Experienced Trailer check availability
- Dark Lorry Collective check availability
- Celebrated Campfire check availability
- OldCamper check availability
- Ap Co check availability
- Fifth Truck Pro check availability
- The Het Truck check availability
- Motor Avant Garde check availability
- Careless Campground check availability
- Commander Camper check availability
- The Modern Campsite check availability
- Willem check availability
Read our full guide on naming your RV rental business ➜
How To Create A Slogan For Your Rv Rental Business:
Slogans are a critical piece of your marketing and advertising strategy.
The role of your slogan is to help your customer understand the benefits of your product/service - so it's important to find a catchy and effective slogan name.
Often times, your slogan can even be more important than the name of your brand.
Here are 6 tips for creating a catchy slogan for your RV rental business:
1. Keep it short, simple and avoid difficult words
A great rule of thumb is that your slogan should be under 10 words. This will make it easy for your customer to understand and remember.
2. Tell what you do and focus on what makes you different
There are a few different ways you can incorporate what makes your business special in your slogan:
- Explain the target customer you are catering your services towards
- What problem do you solve?
- How do you make other people, clients, or your employer look good?
- Do you make people more successful? How?
3. Be consistent
Chances are, if you're coming up with a slogan, you may already have your business name, logo, mission, branding etc.
It's important to create a slogan that is consistent with all of the above.
4. Ensure the longevity of your slogan
Times are changing quickly, and so are businesses.
When coming up with your slogan, you may want to consider creating something that is timeless and won't just fade with new trends.
5. Consider your audience
When finding a catchy slogan name, you'll want to make sure that this resonates across your entire audience.
It's possible that your slogan could make complete sense to your audience in Europe, but may not resonate with your US audience.
6. Get feedback!
This is one of the easiest ways to know if your slogan will be perceived well, and a step that a lot of brands drop the ball on.
Ask friends, family, strangers, and most importantly, those that are considered to be in your target market.
Here's some inspiration for coming up with a slogan for your RV rental business:
- You Can't Beat Camper.
- Ding-Dong! Van Calling!
- Behold The Power Of Rv.
- America's Most Trusted Camper.
- Site Of The Bod
- Old Van - A New You
- Camper Right As Rain.
- Van For All Time.
- You Can't Stop Rv.
- Crunch All You Want. We'll Make Camper.
- Camper Stays Sharp 'Til The Bottom Of The Glass.
- Campers With Constitution
- From Forceful To Limp
- Van - You See This Name, You Think Dirty.
- Get The Rv Habit.
- Camper Know-How.
- Camper - It Does A Body Good.
- Gives A Meal Camper-Appeal.
- Old Carpoolers Are What We Do
- Central Heating For Van.
- Rv Tested, Mother Approved.
- Camper Keeps Them Coming Back
- New Camper, We Take Care Of You!
- Whatever You're Into, Get Into Camper.
- Order Of The Cea
- Call A Friend, Call Van.
- Motor Home Is What We Do
- Everyone's Favourite Camper.
- Large Minibus, Big Wagon
- Why Can't Everything Orange Be Rv?
- Van Is Forever.
- If You Can't Beat Rv, Join Rv.
- Don't Live A Little, Live A Rv.
- Refreshes The Camper Other Beers Cannot Reach.
- Rv For President.
- Lay Of The Caravan
- From Turnabout To Petty
- Only A Fool Breaks The Rv.
- Set Of The Camping
- Come Fly The Friendly Rv.
- Set Of The Aa
- I Lost Weight With Rv.
- Rv, One For All.
- Feel Good With Camper.
- Camper, Not That Other Crap.
- Old Camper, We Are Here
- Camper Prevents That Sinking Feeling.
- Van Is Everything You Need.
- Vans With Vegetable
- White Leaders Are What We Do
- The President Buys Van.
- Van It's Guaranteed.
- Base Of The Pickup
- I Can't Believe It's Not Rv.
- Camper Is Forever.
- Space Of The Caravan
- Ap Is What We Do
- An Army Of Camper.
- Camper - The Revolution.
- Old Camper, Done Right
The Brick & Mortar Business Model
When deciding whether or not to start a RV rental business, it's important to first decide what type of business model you want (brick and mortar, eCommerce, or both)!
Here are a few things to keep in mind when considering a Brick & Mortar store:
If you do plan to open a physical store, it's important that you find a spot in a high-traffic area. This is a great way to gain exposure for your business and also get new customers.
It's also important to consider the higher costs associated with operating a physical store (ie - employees, rent, utilities, etc) and the long days/hours associated with running a store.
The main benefit, however, is that customers love being able to see products in person. It's important to recognize that although some people enjoy shopping online, there will always be the shopper persona that likes to touch, feel, and see the product they're buying.
Learn more about starting a RV rental business :
Where to start?
-> How much does it cost to start a RV rental business? -> Pros and cons of a RV rental business
Need inspiration?
-> Other RV rental business success stories -> Examples of established RV rental business -> Marketing ideas for a RV rental business -> Rv rental business names
Other resources
-> Rv rental business tips -> Blog post ideas for a RV rental business
🎬 How To Start A Rv Rental Business
How Much Does It Cost To Start A Rv Rental Business
If you are planning to start a RV rental business, the costs are relatively low. This, of course, depends on if you decide to start the business with lean expenses or bringing in a large team and spending more money.
We’ve outlined two common scenarios for “pre-opening” costs of starting a RV rental business and outline the costs you should expect for each:
- The estimated minimum starting cost = $62
- The estimated maximum starting cost = $75,701
Raising Money For Your Rv Rental Business
Here are the most common ways to raise money for your RV rental business:
Bootstrapping
You may not need funding for your RV rental business.
In fact, many entrepreneurs take this approach when starting their own business, whether they have a little amount of cash or a substantial amount to get started.
So what exactly does the term "bootstrapping" mean?
This method essentially refers to self-funding your business without external help or capital and reinvesting your earnings back into the business**
Bootstrapping means building your company from the ground up with your own, or your loved ones, personal savings and reinvesting all earnings back into the business
Here are some tips to consider when bootstrapping your business :
- Use your savings as your capital - one of the best ways to bootstrap your business is to collect your savings and use them as startup capital. This will also help you avoid using your personal or business credit cards when getting started.
- Determine exactly how much capital you need and how much capital you have to get your business off the ground. Generally, when bootstrapping your business, you may want to consider starting a business that involves less startup capital.
- Consider starting a business that will generate immediate returns so you can put money back into the business
- Be as lean as possible - this refers to cutting down expenses as much as possible, such as payroll, fancy software tools, unnecessary travel, renting an office, etc
- Consider outsourcing instead of hiring - in the beginning, you may not need to hire someone permanently to help run your business. It tends to be much less expensive to outsource work to a freelancer and hire someone permanently down the road!
Want to learn more about bootstrapping your business? Check out this article
VC funding is a traditional and long process, but an effective way to raise money for your business.
The term "VC funding" refers to venture capital firms investing in businesses in exchange for equity.
The VC's (venture capitalists) are an individual or small group investing in your business and typically require substantial ownership of the business, with the hope of seeing a return on their investment.
VC's are typically the best approach for businesses with high startup costs - where it would be very difficult to raise the money on your own or through a loan.
When deciding whether to take this approach, it's important that you have a few things in place first, and know what you're getting yourself into:
Determine if your business is ready
Having an idea is not enough to get VC funding.
Typically, VC's will check to make sure you have these things in place prior to closing any deal:
- An MVP (Minimal Viable Product)
- A founding team with all proper documents in place (articles of organization, business formation)
- A validated idea with actual customers buying your product/service
Get everything in place and build a pitch deck
A VC individual or firm will be expecting a fine-tuned presentation that gives an overview of your business.
Here's what you should consider including in your pitch deck:
- Management team, their previous experience + current roles in the business
- Market challenge and solution
- Company financials - including a P&L statement, cash flow statement, and projections
- Company progress
- Investment amount - how much do you need and why?
Research the right VC to fund your business
Research the types of VC investors out there and what niche they focus on.
Then, put together a list of target VC's you want to approach and your strategy around setting up meetings.
Be sure you have everything in place (as discussed above) before setting up any meeting!
Make sure the terms and expectations are right for your business
Committing to VC funding is a big deal and a decision that should not be made lightly.
Although the money and experience from VC's can help your business quickly grow, you are also giving away a stake in the company, and the money comes with strings attached.
Be sure you do your due diligence in finding the right investor - one that truly believes in the growth and success of your business.
What Skills Do I Need To Succeed In Starting A Rv Rental Business?
As a RV rental business, there are several essential skills and characteristics that are important to identify prior to starting your business.
Let’s look at these skills in more detail so you can identify what you need to succeed in your day-to-day business operations:
Self Motivation Skills
Self motivation and discipline skills are critical in order to become successful in this field.
It's likely that you will find yourself starting and running your RV rental business from home, which could mean there are more distractions for you.
Here are the basic skills needed for self motivation & discipline:
- Becoming a self starter: It's important that you are capable of independently completing a task without the help or direction of anyone else
- Listening and following directions : When you are given direction by others, it's critical that you are able to follow directions and ask the right questions in order to get your job done
- Taking the initiative in problem solving: Instead of taking the easy route, you'll need to learn to troubleshoot issues on your own as much as possible.
Customer Service Skills
Friendly communication with customers and the ability to address service issues is a critical part of the job.
Here are some customer service skills you may want to consider prior to starting a RV rental business:
- Professionalism: The way you act, present yourself, and respond to situations all leave an impression on your customer. It's important to stay professional at all times when handling customer requests or issues.
- Problem-solving: When issues arise, it's important that you are able to think quick on your feet and address the situation with a calm and clear solution
- Friendly-manner: This is an obvious one, but customers truly appreciate someone that can respond in a quick, efficient, and friendly manner.
- Proficient in writing: These skills include the ability to write well-crafted emails, service tickets, and any other programs used by the business (ie. chat functions, SMS texting)
Business Savvy Skills
When starting a RV rental business, there are a few fundamental business skills you will want to learn in order to be successful:
- Leadership and training skills: A great team starts with YOU. Make sure you have all company policies and training procedures in place prior to hiring your team
- Decisive and self-confident: Over the course of your career, you will need decisions that could impact your business significantly. It's important you are able to think clearly and rationally about these decisions.
- Ability to understand the financials : You don't need to be an accountant, but it is important that you are able to clearly understand and define metrics such as expenses, revenue, profit, margins, COGS, etc.
- Strategic Thinking : Setting clear goals and benchmarks, identifying opportunities, risks. Ability to effectively communicate these insights to your team.
These are a few of many business savvy skills you should have (or work on) when starting a RV rental business.
For a full list, check out this article here .
Advice For Starting A Rv Rental Business
We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.
Here's the best advice we discovered for starting a RV rental business:
Gretchen Bayless and Taylor Hood, founder of ROAMERICA ($10K/month):
You have to play the long game, and during that game you will most likely be close to broke, SO YOU MUST LOVE WHAT YOU ARE DOING TO CARRY YOU THROUGH THOSE HARD TIMES. The ones who press on and don’t quit, are the ones who reap the rewards.
Read the full interview ➜
It’s okay to have big dreams and strive for them to come true but it’s also necessary to make progress, one step at a time.
If you throw in the towel when it's tough, you’d never know if success was right around the corner.
Garr Russell, founder of Fireside RV Rental ($150K/month):
The greatest asset you have as a business owner is your employees first in your database second.
Write a Business Plan
Writing a business plan from the start is critical for the success of your RV rental business.
Because this allows you to roadmap exactly what you do, what your overall structure will look like, and where you want to be in the future.
For many entrepreneurs, writing out the business plan helps validate their idea and decide whether or not they should move forward with starting the business.
You may want to consider expanding upon these sections in your business plan:
- Executive Summary : Brief outline of your product, the market, and growth opportunities
- Overviews and Objectives : Overview of your business, target customers, and what you need to run your business
- Products and Services : Specifics on the products and services your business will provide
- Market Opportunities : Analysis of customer demographics, buyer habits and if your product is in demand
- Marketing : Outline of your marketing plan and how you plan to differentiate yourself from other customers
- Competitive analysis : Analysis of your competition and the strengths and weaknesses therein
- Operations : Hierarchal structure of the company and what it will take to run the business on the day-to-day
- Leadership Team : Detailing roles and responsibilities of each manager based on their specific skill-set
- Financial Analysis Understanding of all expenses, operating budgets, and projections for the future.
Learn more about how to write a business plan here
Determine Which Business Bank Account You Need
There are hundreds of banks out there, and it can be overwhelming to find one that's right for your business.
Here are some factors you may want to consider:
- Location - Is your bank close enough that you can easily make deposits or get cash?
- Low Fees - Make sure to understand any and all fees associated with setting up and maintaining your bank account. Ask for a list - banks usually try to keep this hidden and in the fine print.
- Online Banking Services - Make sure you can easily navigate through your online portal and you have easy access to everything you need.
- Line of Credit - What do your options look like (even if you don't need this now, you may need this down the road).
- Every bank has something that differentiates them from the rest, so make sure whatever that is applied to your needs and values.
Check out this list of the 13 Best Banks for Small Business in 2020 and what makes them so unique.
Setting Up Your Rv Rental Business (Formation and Legal)
When it comes to setting up your business, you may find yourself in a place where you have to make some financial and legal decisions.
The first thing you'll want to decide on is whether you want to be an LLC, S-Corp, or C-Corp.
These three options are found to be the most common when starting a small business, and all serve to protect your personal assets and also provide you with certain tax benefits.
- LLC : All income and expenses from the business are reported on the LLC personal income tax return.
- S corp : Owners pay themselves salaries + receive dividends from profits.
- C Corp : C Corps are separately taxable entities that file a corporate tax return (Form 1120). No income tax is paid at the corporate level and any tax due is paid at the owners individual expense.
Depending on where you're conducting business, you'll also want to consider securing the proper permits, licenses and liability insurance.
Learn more about securing the right permits and licenses ➜
Need to start an LLC? Create an LLC in minutes with ZenBusiness .
How Do I Pay Myself As A Small Business Owner?
Most entrepreneurs start a business to do something they love- but at the end of the day, you still have bills to pay (maybe now more than ever).
But it's important to strike the right balance - if you pay yourself too much, you could be putting your business at risk.
There are two common ways to pay yourself as a business owner:
1. Owner's Draw
Many entrepreneurs pay themselves through an owner's draw. This means that you are technically sean as "self-employed" through the eyes of the IRS and are not paid through regular wages.
At the point that you collect money from the draw, taxes typically are not taken out - so make sure you are prepared to pay these taxes once you file your individual return.
As an owner who takes a draw, you can legally take out as much as you want from your equity.
This type of compensation is suited for Sole props, LLCs, and partnerships. If you’re an S corp, you can pay yourself through both a salary and draw if you choose.
If you decide to pay yourself a salary, you will receive a set and recurring amount. This will be taxed by the federal government and the state you reside in.
The reality is that it can be really complicated to set your own salary, so we have some tips for you to consider:
- Take out a reasonable amount that allows you to live comfortably but also sets your business up for success
- Consider the number of hours you are working weekly + the type of duties you are performing.
- Set your salary based on your industry-standard, location, and profits (or projected profits)
- Look at your P&L statement : Deduct your own pay from that amount. This is important so you can first tackle important business expenses, and then pay yourself from the amount leftover.
- Pick a payroll schedule (and stick to it)! In the US, it's most common to pay yourself and employees twice a month.
To learn more about how to pay yourself and what is a reasonable amount, check out this article .
How To Price Your Rv Rental
One of the most challenging aspects to starting a RV rental business is determining how much to charge for your rv rental.
When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.
Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.
On the other hand, when businesses over-price , this tends to be just as damaging to the business.
When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.
Here are some factors to consider when pricing your product:
Understand your customer
It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:
- Customer demographic: Age, gender, location, etc.
- Buying habits of your customer: What they buy + when they buy
- Level of price sensitivity with your customer
All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.
Understand your costs
When pricing your rv rental, it's critical that you first identify all of your costs and consequently mark up your rv rental so you can factor in a profit.
The actual cost of your rv rental may include things like:
- The actual cost to make the product (ie. raw materials, supplies, manufacturer).
- Shipping + overhead fees
- Operating costs to run your business
You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.
Create revenue goals
When determining the price of your rv rental, you'll want to create goals for revenue + how much profit you want your RV rental business to make.
This process is simpler than you may think:
- Think about your breakeven cost (by completing the above step).
- Create a revenue goal based on your break-even cost
- Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
- Divide your revenue goal by the number of items you plan to sell
This figure will help determine your estimated price per product in order to meet your revenue goals.
Evaluate your competition
The last piece in determining how to price your rv rental is by simply looking at your competition.
The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your rv rental fits best in the marketplace.
All of these factors play an equal part in pricing your rv rental, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.
Understanding Your Costs
Example from Ishan, founder of Ugly Duckling
First objective: profitability
Our profitability is OK at this point but definitely not where it should be yet. To this day I have not paid myself a regular salary yet...and it’s been 4 years!
The problem is not the cost of goods which are well under 20% of sales, which is good by any standard. The problem is fulfillment costs. In 2018 we transitioned from our first fulfillment company to a much bigger company. We did this because we wanted to provide faster shipment speeds and a better quality of packaging. In hindsight, we chose a company which would have been more suitable for a larger company with bigger volumes. We ended up being tied in with some pretty large minimum monthly payments. So currently fulfillment costs are currently around 45% of sales...way too high.
We are now looking to transit to another fulfillment center. Our target is to get our fulfillment costs down to around 30% of sales which I believe from what I have researched, is possible.
Just to be clear, when I say fulfillment that includes transportation costs also - FedEx, USPS, etc. Not just storage, picking, and packing. I am pretty sure that it is possible to get fulfillment costs down even lower, and I suspect that some large pro sellers on amazon.com work with around 20-25% of sales.
So our target P+L for 2020 looks something like this:
- Cost of goods, including inbound freight and clearance - around 22% of sales.
- Fulfillment - around 30% of sales.
- Digital Advertising & Promotion - around 15% of sales.
- Other marketing and office costs, including salary costs - around 10% of sales.
- That would leave us around 23% of sales - enough to pay me a liveable salary and for the company to make a profit and finance future growth.
That's the first objective for 2020: to right-size the P+L so that we are profitable at our current sales level
Gross Margin Calculator: How to Calculate The Gross Margin For Your Rv Rental
Our calculator is designed to be simple and easy to use.
The goal is to help you set realistic expectations and understand what is considered a healthy gross margin for your RV rental business.
Calculate your gross margin and profit margin here .
What Type Of Customers Will Buy Your Rv Rental
It's important to first establish who you will be selling to, whether it's to businesses or consumers.
Typically, in this industry, products are sold to B2C markets (business-to-consumer).
Let's take a look at what this means for your RV rental business:
B2C (or business to consumer) is a transaction where businesses sell their products or services to the consumer directly.
In this market, consumer behavior is the primary driver for your business decisions - so it's important that you truly identify who your customer is, and what their buyer habits are when building your product/service.
The advantage
B2C is that you are able to cast a very wide net when targeting your customers. Your product may interest a large number of consumers or a specific niche.
The disadvantage
B2C is that consumers hold all the power - so if your website is not the most user friendly, or does not rank in the top search results on Google, chances are, your customer is going to shop elsewhere.
When building your RV rental business, it's critical that you hone in on who your target audience is, and why they need your product over your competition.
Here are some items to consider when identifying your buyer persona:
Design A Prototype
Turning your idea into a reality can feel like a daunting task - but it's critical that you have an idea of what your product will look like (even if it's just a sketch) prior to finding a manufacturer.
Here are some common ways you can design your prototype:
- Draw Your Initial Design on Paper
- Form pieces of fabric together
- Consider Taking A Generic Product And Putting Your Own Brand On It
- Try Making the Product Yourself
- Consider Building A Prototype With A 3D Printer
To learn more about how to design and prototype a product, check out our latest guide here .
Paul Schauer, founder of Dry Camp dives deep into the process of designing and prototyping their product:
Manufacturing a product is actually quite harder than you would expect. You have to do your research on what materials you want to use and where they would be coming from. We sought to build a brand with great quality that offered more product for the price and a great warranty behind it.
This meant we were going to have to compare manufacturer ratings and prices, all while creating a relationship that could last our company’s lifetime. We wanted to offer a lifetime replacement warranty on our products - so to do that, we needed to find a reputable manufacturer.
There are great sources for finding manufacturers for goods, but you want to be sure you are finding the right one for you. We searched Google high and low to see what we could stumble upon, beyond what places we already knew of. Then you start by submitting each manufacturer a request for quotation, where you can receive an estimated price for what you are looking to have made or sent to you.
I would highly recommend creating a list of these quotes and the following process to anyone who has a unique design, product or invention that they want to build.
Here are steps of the process we heeded:
Go to Google and search for manufacturers, whether by typing that in the search bar or looking through sites such as Amazon to get a feel for what products come from where. Check to see if they offer the goods you are looking for and/or comparable materials that you may want a sample of to test out. Do your research on the differences of these - and always take notes!
Be sure to look for ratings that are higher on the given scale, read reviews (which are always a must!), and check to see if they come with any assurance policies that will guarantee your products to arrive safe and sound. Make certain you take a look at the number of sales they do and their supply capacity. Begin making a list of the ones you want to contact with space for commentary.
Contact the suppliers with a message explaining exactly what you are looking for, including how many items you want as this can change their estimation on pricing dramatically. Then, ask if you can be sent a sample, either of their materials or the finished product. Be sure to be very thorough in the description of the product you are looking for, and I would suggest sending along a drawing even to help. Some manufacturers will work with you while alter your design, but some will not, so be sure to tell them that you want to wait to order when you have had time to properly review the samples.
When your samples arrive, make notes of your thoughts, test them out and show them off to get feedback from potential customers and/or people that will give you an objective review. This really helped us when we designed our products, and actually resulted us in having to go back to the drawing board to maintain the quality of our designs while ensuring comfort.
Talk to the manufacturer about packaging and anything you need and want to be included, including UPC’s, warning labels, and any other printed material. This will help you to know whether you have to look elsewhere or if the pricing and time frame needs to be adjusted.
Double and triple check your order before completing and sending through to the manufacturer. Remain in constant and quick contact as to ensure a smooth process and build upon your business relationship with the manufacturer for possible future purchases. Always remember to keep your options open though - for pricing is always ever-changing to meet your needs.
As mentioned many times above, be very thorough with what manufacturer you go with. You’ll notice they may change their pricing on you, so be sure to ask if they can send you an itemized bill. We had to search through many manufacturers until we found one we could trust, that had consistent communication, and exactly what we were looking for.
How To Find A Supplier For Your Rv Rental Business
Here are the steps to consider when finding a supplier/manufacturer:
Know your design
One very critical step to finding the right supplier is having an initial idea of what your design/product will look like.
Sketching is one of the most simple ways to get started in the design phase.
What's great about sketching is that you can practically do this anytime, anywhere - even on the back of a napkin.
To get started, all you need to do is pick up a pen and paper and start drawing - or if you are working on a virtual/software product this can be a diagram that outlines the user interface or experience.
Decide your supplier type
You'll want to identify the type of supplier you are looking for.
Here are some questions you may want to ask yourself prior to searching for a supplier
- Are you looking for a manufacturer to produce your product idea ?
- Do you want to find a supplier that can simply purchase existing products for you ?
- Do you want a drop-shipper to supply and fulfill orders?
- Do you want a domestic supplier or an overseas supplier? Read more about the pros and cons of each here
Where to start your search
Once you have an understanding of what type of manufacturer/supplier will be best to bring your idea to life, there are several areas you can start your search:
Domestic Suppliers
Overseas Suppliers
Manufacturing Your Product In House
It's also very common to manufacture your rv rental on your own - either from your home or in a commercial space.
In order to get the product right, you may want to consider experimenting with different designs and recipes until you find the perfect one.
Some founders choose to manufacture their product in-house so that they can control quality, manage costs, and easily handle production/logistics.
Down the road, you can always choose to outsource your rv rental.
Leslie Eisen, founder of AlmondClear discusses how to manufacture products in house
If you want to start a line of unique products, then you have two basic options: you can make them yourself, or you can find a manufacturer to work with that creates custom formulations for their clients.
I knew that I was trying to build a larger-scale business and that the home-made model wasn’t right for me, so I had to find the right manufacturing partner. It took a lot of research, phone calls, and emails before I found the laboratory that met my needs.
I wanted to create unique products (as opposed to private label), so I worked with the manufacturer’s chemist who specializes in skin care formulations. This process takes some time!
First, you have to tell the chemist what kind of product you’re looking for , the ingredients that you want to include or leave out, and what you want the final product to look like/feel like/smell like, etc.
Then, the manufacturer sends you the first sample , you try it out or give it to others to try, and then provide feedback for revisions. In my case, the first two products came together fairly easily because I only needed to make small changes to stock formulations.
There are many, many rules and regulations around cosmetics and skin care products. If you want to sell products that contain FDA regulated ingredients then you have to register and get a permit.
My products aren’t FDA regulated, so I didn’t have to go through this step, but I did have to be aware of the many guidelines and standards around labeling and safety warnings. Some people hire a lawyer to help them through this process, but my manufacturer was able to guide me through the regulatory process.
The entire process, from researching labs to work with to having the first finished products shipped out to me, took around six months.
Purchasing Inventory For Your Rv Rental Business
When first starting out, it's important to start small with your overhead to get a gauge for what people want.
Just remember - if you order a line of items that don't sell, it's nearly impossible to recoup the money lost.
Buying the right inventory takes research and planning in order to get it right.
- Identify your target audience : Identify the age, gender, annual income that you will be selling to. This is a defining factor in ordering the right inventory that will sell.
- Research your competition : Conduct market research and identify the different types of styles, price points, and materials being used. This will help you see what's trending and ways that you can improve/stay ahead of the competition.
- Create an inventory wishlist : Identify what you need for the launch of your business and create a budget that you will stay within. Remember, it's okay to start small.
- Find a supplier Make sure to first compare prices and analyze different options.
- Delivery timing : Schedule the inventory delivery to match with seasonality and trending buying seasons
Pro-tip: It's easy to become biased based on your own fashion preferences on what types of shoes/apparel to purchase. This is where a lot of fashion businesses go wrong. It's important to base purchase decisions on current buyer behavior, trends in the market, and specific to your niche.
Erin Hooley, founder of Bailey's Blossoms tells us how poor inventory projections led her to lose over $2M
When we first launched Peyton Bre we did so in a social or direct sales model.
Through poor inventory projections we were forced to change models but only after losing $2 million dollars.
It was a devastating time for us and one we were not sure we could survive.
I have since become very intentional about the way that we project our inventory needs and we continue to refine that quarterly and even monthly. We have created a KPI for the cost of goods sold to help us hold ourselves accountable.
Ultimately, the better we manage our inventory the less we have need to discount and the healthier our profit margin becomes.
This is, of course, a very high-level overview of the importance of inventory control.
To see the full breakdown on how to manage inventory, check out my guide over on my blog. .
🚀 How To Launch Your Rv Rental Business
Build A Website
Building a website is imperative when launching your business, and with the right tools in place, this can be a simple task to check off the list (without having to hire someone).
- Pick a domain name that's easy to remember and easy to type
- Choose a Web Hosting Plan (ie. Shopify, Squarespace)
- Make sure you choose the right theme and design
- Implement the proper page structure (ie. about page, contact page, pricing etc)
To learn more about how to build a stellar website with little stress, we give you all the details on this step-by-step guide .
Once you have chosen the domain, web hosting, and platform, it's time to get started with the design phase.
Themes are a great way to produce the fundamental style and identity of your website - this includes everything from your font design to your blog post styles.
One of the best ways to get started is to simply explore the various themes (free or paid depending on what you're looking for) and test them on your site.
If web-design really isn't in the cards for you, you may want to consider outsourcing a web designer to help bring your vision and brand to life.
Launch Strategies For Your Rv Rental Business
There are various different ways you can launch your RV rental business successfully.
Here are a few different strategies to get customers excited about your RV rental business.
- Build hype with a landing page : you can effectively do this through waiting lists, discounts, countdown timer etc
- Create a teaser video : even just a 30 second video is a great way to exposure for your RV rental business, and possibly even go viral
- Reach out to influencers : The right influencer for your product has the ability to reach your audience with just one post, and because of their loyal following, this could lead to a big return for you.
- Get Press : Whether you plan a PR stunt or get exposure through a popular news outlet, this is a great way to attract initial customers
- Launch on popular sites : A great way to get buzz about your RV rental business is to submit your launch to popular startup sites.
Here are a few popular sites to launch on:
- ProductHunt
- Hacker News
Learn more about how to launch your business successfully ➜ here
Gretchen Bayless and Taylor Hood, founder of ROAMERICA dives deep into the process of launching the business:
We knew the website and branding needed to make an impact. Luckily we had the background and passion to create that. We also knew SEO would play a huge role. What’s the point of putting an awesome website out there amongst millions, if no one can find it.
So for about 6 months prior to ‘launching’ the website, we were building the brand and working on the SEO. This meant, designing our own logo and website. We knew how important these would be in the success of the initial launch. So we did a lot of research on keywords and what people were interested in learning about when searching for road trips or campervan rentals. We took what we learned and added it to our website.
We learned people wanted information on Oregon and for the process to be easy. So our website was super simple and resourceful. We also did a few road trips in our own van to test out our process, to make sure it was actually easy for customers. This was in November of 2015, so it was cold and wet but almost perfect. We did make one major change, we knew built-in heaters would be a must!
Crater Lake National Park - November 2015
Oakridge - 2015
We started the typical social media channels as well, Facebook, Instagram and Twitter.
Luckily, we didn’t have to shell out a ton of money for the website since the business was 100% bootstrapped. Again, Taylor and I were both working full time jobs and operating ROAMERICA out of our home. Luckily, we received a super low interest rate for that 1st van so our overhead was really low. This first van was completely converted too so that saved us time. It was a 1998 Ford Econoline Sportsmobile. We didn’t have any employees either and neither of us took money out of the business to ‘pay ourselves’. We originally talked with a few banks about a business loan so we could buy a van but we were a pretty unique business and banks wanted 2 years of financial history on the business before they would even sit down and talk to us. So with our own savings to get the business up and running, we got to work. Between getting the van ready for the road, updating the ‘look’ of the van, building the site, brand, etc. we were busy...but really excited.
Our first van , ALPHA - We removed teal and purple pin stripes, removed the running boards, upgraded the tires to BF Goodrich All Terrains and added a 2” lift.
Prior to launching, we also did a lot of research about pricing. There weren’t any other campervan companies in Oregon offering what we were going to offer. So between, AirBnB, hotels, car rentals, etc we came to the decision of pricing the campervan to compete with what it would cost a person to rent a car and hotel. Our goal was to rent the van for 3 days a month. We far exceeded this goal, which meant we were prices too low. Our first customers were nice enough to tell us this as well:). So we increased our pricing and offered more in terms of gear and customer service.
Looking back, our launch was pretty amateur. We literally posted something on Facebook, no promotion or boost or anything, letting the ‘world’ know we started a business and had a website.
However, luck was on our side, we received a phone call that week to rent one of our Roof Top Tents (which we hadn’t even purchased yet!) for that weekend. This customer happened to be a photographer, so we offered the RTT to him at no cost in trade for images.
After his trip, he posted some pictures on his social media and tagged us. We did this once more with the van that May. We posted these images on our Facebook and Instagram and it helped a ton. Prior to these images we were just taking our own (not great at all!) so having these professional images at no cost to us, really helped propel our brand.
We pushed our website live in May of 2016 and by early June we were booked for the summer.
One of our own photos, early Instagram days: 28 likes, 2 comments.
Working with professional photographers helped propel our online brand.
Working with @taylersteven for photos of the RTT: 205 likes, 11 comments
Working with @kylesipple for photos of the campervan: 123 likes, 18 comments
Make Sure You Get The Package Design Right
The way you package your RV rental business is often the first impression your customer has - so it's important to get it right.
You may want to ask yourself these questions:
If my product is on a shelf next to hundreds of other similar products:
- Will my RV rental business stand out?
- Will the branding/packaging create a connection with my customer, and hence, lead them to buy?
There are hundreds of tools you can use to help with packaging and design:
- Canva - Allows non-designers to create beautiful Instagram/Pinterest posts, flyers, business cards, etc.
- Stickermule - High quality custom stickers you can include on or in your packaging.
- Noissue - Custom tissue paper and compostable mailers
- Rollo Label Printer - A great tool to print all shipping labels at home
Sheets & Giggles explains the motive behind their "Premium Unboxing Experience"
I had a particular vision for our packaging centered around one goal: because we were a DTC company and wouldn’t do physical retail in year 1, we needed to focus entirely on an incredible unboxing experience that made the product feel as premium as possible.
Outside: a white box, nice wax coating, logo front and center with no other copy, easy to open, nice and sturdy.
Inside: make people smile from the get-go, have a social call-to-action, include free extra surprises (a knapsack that wraps the sheets and an eye mask), put funny copy all over the place, and add a donation bag that people could use to donate their now-defunct cotton sheets (sheets & blankets are the #2-most-requested item at shelters behind socks).
Get Press Coverage For Your Rv Rental Business
The more buzz around your brand - the more the phones ring, the more traffic to your website, and the more customers as a result.
Here are a few ways you can get press for your business:
Press releases:
Press releases are a great way to share big announcements or news, but in order to get any traction, you'll need to find a way to make your press release stand out amongst others.
Try to convey a story that really matters, not just to you, but to the reporter and to their audience.
Here are some things to consider when submitting a press release:
- Craft a catchy subject (keep it short and sweet).
- Acknowledge the journalist's past work and interests - this is key!
- Include the main point of the story in the first paragraph, heck, even the first sentence. Reporters want to hear the juice first and foremost.
- Focus on the facts and try to limit the amount of jargon used.
- Pitch yourself! Help them put a face to the story.
- Make sure your topic is newsworthy. If it's not, find a way to!
- Try not to include any attachments of your release!
Email is one of the most effective and preferred way to send your press release, so as long as you keep your pitch brief, interesting and personalized (no cold emails), you should stand a chance!
Get Press Using HARO
HARO, otherwise known as "Help a Reporter Out" is an outlet for journalists to source upcoming stories and opportunities for media coverage.
The best part is, HARO is free to use! There are, of course, premium versions you can purchase, but the free version is still an accessible way to get press.
Once you set up an account, HARO essentially will email you based on stories (that are relevant to you) that need to be covered where you will then have a chance to essentially "bid on the story."
Here are some tips when crafting your pitch:
- Discuss your experience and expertise in the space. Make sure it's obvious why you're relevant to this story.
- Answer the question in 3-4 sentences. Try and be as direct as possible
- Offer to provide the reporter with more information and make sure to give them your contact info
Plan a Publicity Stunt
Planning a publicity stunt is an effective and quick way to raise awareness for your brand and gain some traction from the press.
If you're looking to plan a stunt, the objective should be to be bold and create something memorable
However, being bold has a fine line - it's important that you consider the timing of your stunt to ensure you don't come off insensitive or unethical. For example, timing may not be in your favor if you plan something during the general election, or in most recent cases, a global pandemic.
In order to measure the success of your stunt, it's important that you first determine your end goal, for example:
- Is the stunt aimed to raise money for your business or a particular organization?
- Is the stunt aimed to drive more traffic to your website?
- Is the stunt aimed to get more followers and engagement on Instagram?
Here are a few tips for creating a great publicity stunt:
- Research to ensure that there haven't been similar stunts done in the past by other businesses - this could easily turn off journalists and your audience.
- Make sure you can explain the stunt in one headline - this will help grab the media's attention. In other words, simplify!
- The stunt should be related to the product you are promoting. Even if the stunt is a success in terms of viewers, but it doesn't tie back to your original goal, then it's not useful.
- Keep the stunt visual with videos/images.
- Leverage the internet and social media platforms for your stunt by sharing your message across a variety of audiences. This will help with word of mouth and the overall success of your event.
To learn other strategies on how to get press, check out our full guide here .
🌱 How To Grow Your Rv Rental Business
Consider Selling On Amazon
In addition to selling your products directly on your site, you may want to consider selling on Amazon to reach a wider audience and attract new customers.
Here are some pros and cons of selling on amazon:
- Easy and seamless process to get your product listed on Amazon
- There are roughly 100 million thoroughly committed prime customers, so you're bound to tap into new business
- Can help grow your business exponentially and reach new audiences
- You may encounter some "copycats" and counterfeit products
- Amazon owns the relationship with the customer (you lose control over product reviews + customer service)
- If you already have a low-markup, amazon may not wrth your while and you could end up losing money
- Commissions and listing fees are high - it's easy to lose control of your offering
Follow these instructions to get your product listed on Amazon or check out the video below on how to get started:
Cory Stout, founder of Woodies ($250K/mo) provides us with specifics on how to rank better on amazon:
Our main product is walnut wood sunglasses that I sell for $25 on Amazon and Woodies.com.
I dedicated myself to becoming an Amazon expert. I listened to all the podcasts and read all the blog posts I could find. Shoutout EcomCrew I took the basic fundamentals that are out there and I added a couple of my own twists.
Amazon brings me, 100 brand new customers, every day for very little acquisition cost. If I tried that on my own, it would take a TON of work and it wouldn’t be nearly as effective as Amazon, so I took the easy road on this one.
Here's an article I wrote on how to rank better on amazon (30+ Tips):
5/5: ESSENTIAL
- Beautiful images (minimum 5 images) especially lifestyle images I use UpgradedImages.com for product photography (hey Ken!)
- Keywords in your title (but it still needs to sound human)
- Competitive price (contributes to high conversion rate)
- NOT having 1-star reviews
- DON'T STOCKOUT: it's such a killer and if you DO stockout, definitely DON'T raise your price right before you do, if anything LOWER your price for the last 10-20 units before you stockout, each ASIN has a 'memory' for when you do get back in stock so that will help you regain ranking quickly
- DON'T VIOLATE AMAZON TOS: just don't
- Perform QC on your stock before you send it in (I sent in a wrong box once and I had to 'remove' over 3,000 pieces so I could sift through them and remove the 150 contaminated pieces 0/7 would not recommend
4/5: Pretty Friggin Important
- Minimum 10 5-star reviews (do this before you do anything below this)
- Well optimized PPC campaigns (could do a whole post on this, keep ACOS under 40%) here's a screenshot of some of my campaigns I use a combination of manual campaigns with exact phrases and high bids...and auto campaigns with a broad range of products and very low bids
- Turning on FeedbackGenius for auto review requests (it's not as good as it used to be, but it's still worth it)
- Get a trademark and get Brand Registry, this protects you from hijackers and other unscrupulous sellers
- Quick response to customer messages (under 12 hours) here are my stats my mom does all my customer service "Employee of the Year" status
- Drive outside traffic (amazon loves outside traffic because they don't have to spend so much to acquire customers) Facebook, Instagram, and Google Adwords are the usual suspects
- Use ocean shipping to save mucho $$$ on unit costs (use flexport)
Read more about amazon tips here .
Consider Working With Instagram Influencers
Partnering with like-minded influencers (within your industry) is one of the most effective ways to grow your social media organically.
Industry influencers already have an established and loyal following. With one post, your product immediately establishes a connection with a brand new audience. It's that powerful.
When finding influencers to promote your product, do your research and make sure that their following will actually be interested in your product.
It's easy to be blinded by any influencer with a huge following, but if those followers don't resonate with your product, there may not be any value there... so make sure you do your research!
Evan Marshall, founder of Plain Jane discusses how "micro-influencers" have impacted his business:
Influencer marketing has been huge for us. Our approach is pretty simple. We give out samples of our products and ask people to post about us on social media aka a micro-influencer strategy.
We really like this approach because we get authentic stories and content. We cannot really control the messaging so the product has to speak for itself. We don’t really take product photos at all. Our customers take the photos and we ask to reuse them.
With any influencer strategy, you have to be very sure you’re targeting the right people and engaging with them. You can make sure you’re targeting the right influencers by looking through their posts and then looking through the profiles of their engaged followers.
It takes more time per influencer but the payoff is certainly worth it. Make sure their followers look like your existing customers.
It takes a ton of time and work to grow a social media following this way but it’s worth it. Other accounts have tried to grow themselves through botting or other manipulations. As a CBD company, we didn’t want to give Instagram any reason to shutdown our account so we’ve done everything through content and real engagement. It’s not magic to make this happen. You just have to post consistently and then reply or like every single comment you get. It takes months but it works
Improve your SEO
SEO is not just about driving traffic to your site, it's about driving the RIGHT traffic to your site , and ultimately, converting leads into customers.
One of the most important aspects of SEO is understanding what your customers are searching for, otherwise known as "keyword research."
Here are some tools that can help you choose the right keywords for your RV rental business.
- Google Ads Keyword Planner invaluable for discovering search trends.
- Google Search Console is very helpful once your website is up as it shows you what words/phrases are generating traffic.
- Ahrefs and SEMRush are paid tools that allow you to look at results of your competitor's website.
Publish Great Content
Finding keywords is an important piece of the puzzle, but Google also ranks your site based on the actual content you produce, as this is what your customers are reading and engaging with.
There are various different "forms" of content that you may want to consider diversifying on your sites, such as blog posts, articles, studies, and videos.
So let's discuss what google considers "good content:"
- Length - This will vary depending on the page, however, generally having a sufficient amount of content helps search engines recognize that your site is a good source for a specific topic
- Engagement - The longer people stay on your website to read your content, the higher Google will rank your website. It's important to have informative and "thick" content that keeps people reading
- Avoid Duplicating Content - Google will recognize this and may consider your content to have low value
- Ensure pages load quickly - This will also help with engagement and time spent on your website
- Shareability - Create content that people want to share, and is easy for them to share, especially to their social media accounts (ie. "click to tweet" is a great example of this).
Another element of creating good content is creating consistent content.
If (and hopefully you are) publishing content frequently, it's important to stick to a schedule - this helps build brand trust and easy user experience with your customers.
Planning out your content with a content calendar is key to staying consistent.
Here are a few great content calendar tools that can help you:
- If you prefer to keep it simple, your average spreadsheet is just as useful!
Backlinks are an important piece to SEO, as they allow for other websites to link to your content.
Search engines recognize that other sites are essentially "verifying" your content and essentially rank you higher because of this.
Of course, some links are more valuable than others and can affect your site in different ways.
For example, if a highly valuable and credible site like the New York Times links to a page on your website, this could be remarkable from an SEO perspective.
Aside from organically getting mentioned from other sites, there are other ways that you can increase and earn backlinks:
- Create infographics with relevant data that people want to share
- Promote your content on different sites/look into "guest blogging"
- Contact influencers/journalists/bloggers and ask them to mention you!
- Write testimonials for other sites in exchange for a backlink
- Leverage existing business relationships
Learn more about the fundamentals of SEO ➜ here and check out Neil Patel's 3 Powerful SEO Tips below
Build A Blog
One of the most effective ways to build brand awareness and grow your business is through consistently blogging.
We've outlined some useful tips for you to consider when creating content:
Consistency and Quantity
Quality is important, but it should be the standard for any content you publish.
What’s more important is consistency and quantity.
Consistency is as simple as committing to publishing and sharing a certain number of posts per week. For me, that’s three per week right now.
This kind of commitment is key, because one day, a random post will blow up, and you will have never expected it.
Oversaturation
The easiest mind trap is to think "I’m posting too much", and “I need to give my readers/audience/this platform a break”.
This is nonsense.
There is no such thing as oversaturation. Well, there is, but it is just someone else’s opinion.
For every person that tells you you are posting too much, there is another person that wants even more of your content.
You should ignore people’s opinions on how much you post.
Patience & Persistence
Keep posting, keep trying, and keep putting out good content on the regular. Your time will come, and when it does, it will change everything.
The only thing you have control over is your content.
You can’t control how people will react to it. You can’t control pageviews, likes, or shares.
So the only metric you should focus on is how much content you can put out in a week, month, etc.
Where to share your blog content
Mailing List
I know it sounds obvious, but the best places to share your content is on your mailing list. It is guaranteed traffic and it is a great way to get rapid feedback from your most loyal readers.
Send newsletters often. I have done once a week since starting, and I’m moving to twice a week soon.
Work on increasing your mailing list as well. Look into ways to increase your conversion rate to your mailing list. I added a flyout popup thing to my site and now I’m collecting ~30 emails per day.
An email newsletter is one of the most powerful assets you can have and it is worth its weight in gold.
Reddit is one of my favorite places to promote content.
It is a very scary place because you will often get banned or heckled, but it can really pay off.
Create social media accounts for your blog, the main ones I use:
Twitter Facebook Instagram LinkedIn
Set up Buffer and share all of your blog posts to all of your accounts. All of these little shares really do add up.
Automate this as much as possible. I automated all of my social media for Starter Story.
Facebook Groups
When I started out, I put together a spreadsheet of relevant Facebook groups for my niche, and I would post to these groups whenever I had a big story I wanted to share.
Grow Your Email List
The more engaged list of emails, the more engaged customers, which ultimately leads to more sales.
One of the best ways to start growing your list is by providing your customer with something free (or discounted) in return.
This could also be anything from:
- Fascinating case study
- Video series
- Free week of the product
- Discount on the product
Learn more about how to grow your email list and improve email marketing ➜ here .
Dylan Jacob, founder of Brumate states their email collection tactic that is proven to work:
We use Spin-a-Sale for this (you spin a wheel for a discount code in exchange for subscribing to our email list). This has been the best email-collecting tool we have found because the customer truly feels like they won a prize rather than just a coupon code.
Even if a customer doesn’t convert right away, if we have their email we have a 19% chance of converting them into a future customer whether that is through future promotions, new releases, or simply just sending an email at the right time for a purchase to finally make sense for them.
We also have a return customer rate of over 14%, so one out of every 6 people we convert will end up buying from us again with an average order value of over $60.00.
Add an exit-intent popup to your online store
A great way to double, or even triple, your email opt-in rate and to grow your list is to add an exit-intent popup to your site, and offering a discount or content upgrade for subscribers.
Here's an example of what that might look like:
One thing that I spent years NOT doing, that I now kick myself about, is adding an "exit intent pop-up" to our site, which lets people enter a sweepstakes to win a Xero Shoes gift certificate.
That one idea has added over 100,000 subscribers to our email list, which is one of our most effective marketing channels.
Improve Your Email Marketing
Different types of emails
Here are the most common types of email campaigns you can send to your customers and their benefits:
- Welcome emails - the perfect way to provide information from the start with a clear CTA. Make sure to tell your customer everything they need to know about your product or service.
- Newsletters - a great way to give customers updates or send out your latest content
- Product launch emails - the quickest (and easiest) way to increase sales is by selling to current customers. Make sure they're the first on the list to know about your new product
- Promotional emails - promote discounts, deals coupons etc. Try and make this feel exclusive and for a limited time only
- Abandoned cart emails - give your customers a reason to complete their purchase!
Here's a great resource for finding curated email designs, for all types of email campaigns!
Abandonded Cart Flow
The abandoned cart workflow is one of the most effective strategies for turning your lead into a customer, and a powerful tool to have if you're an e-commerce business.
Think about all the times that you went on a shopping frenzy only to add items to your cart and then either forget or realize nows not the right time to pull the trigger.
Then, minutes later you receive an email saying "Hurry up! Your cart is waiting - and we want to provide you with 20% off your order."
Maybe that's the special touch (and discount) you needed to pull that trigger.
Implementing this workflow can automatically trigger this for your business every time a customer abandons their cart.
Here's a great example of an abandoned cart email from Brooklinen :
Things they do well:
- Showcase 5-star reviews from other customers
- Offer a small discount + free shipping
- Great design + clear call to actions!
Experiment With Pay Per Click Ads (PPC)
Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.
Here are some tips to consider:
- Consider connecting the ad to your corresponding landing page so that the audience receives the necessary information after clicking on the ad.
- Conversion Tracking: When running PPC campaigns, be sure to run the ads with conversion tracking.
- Focus on quality keywords, even if there are few as this will save you time and money. When assessing the performance of a keyword, it's important to track the expense, conversion, and cost per conversion, as well as the ROI.
PPC advertising can be a very important lead generator as long as it's done properly. Your PPC campaign is intended to drive traffic to your website and help the business scale.
Additionally, if the campaign is not having the desired results, you can make the necessary changes immediately to improve them.
Ryan Schortmann, founder of Display Pros talks about their investment in PPC Ads:
My name is Ryan Schortmann and I’m the founder of Display Pros. We are a custom trade show display booth company offering easy to use portable display “kits” for small and medium businesses wanting to get into the trade show game.
It did not take long to come to the realization that to compete at any reasonable level, we were going to need to take the plunge and invest in Pay Per Click ads and display.
From experience, I know that it is important to give Google’s hivemind some time to settle in before each campaign starts seeing consistent results (this is largely dependent on budget).
A certain amount of PPC budget must be viewed as a “marketing research” expense and then you can look at the analytics data and make informed decisions on where to refine, tweak or plain scrap an idea.
Google Shopping was an entirely new concept for me. You can’t assign keywords to products so at first, I was asking myself “How the hell do you refine these?”. Then I found some good reading material and courses and learned of some advanced methods that the pros are using. It turns out you can utilize negative keyword lists combined with the priority setting on each shopping campaign to “shape” the keywords that are coming in and how much you are spending on them.
To learn more about PPC Ads and Google Shopping, check out this video to learn everything you need to know!
Social Media Advertising
Social Media Advertising is one of the leading ways to get the word out when it comes to RV rental business.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.
Let's talk about a few of the main platforms and what makes them unique:
- Facebook Advertising - more than 2 billion monthly users. Facebook is the best for lead generation + capturing email addresses for e-commerce businesses.
- Instagram Advertising - approximately 500 million monthly users and has a higher audience engagement rate than any other platform. Instagram ads are best for linking to a product page or landing page and reaches the 18-29 age group most effectively.
- Twitter Advertising - Small businesses typically use twitter ads to drive brand awareness, but the platform is meant more for organic engagement (and is not as heavily used for paid advertising)
- Pinterest Advertising - 175 million monthly users and most effectively reaches the female audience. Pinterest is great for promoting products without "promoted". The promoted pins have a way of blending right in.
- LinkedIn Advertising - 227 million monthly users and is geared towards the B2B market and generates the highest quality leads. Great platform for recruiters, high-end products and services that will help businesses
It's important to first define your goal/objective so that you don't waste time and money into the wrong platform:
Here are some different questions to ask yourself as it relates to your goals:
- Do I want to simply drive brand awareness?
- Do I want to drive users to my website to gather information?
- Do I want to increase sales and get my customer to take action?
From there, choose the platform that targets your audience best and start experimenting!
Learn more about social media advertising ➜ here .
Founder Andy Hayes talks about mastering FB ads and the pixel:
The biggest bang for your buck will likely be mastering Facebook and it’s platform - which we all know is pay for play, so you’ll have to come up with a small amount of budget to start for marketing.
We’ve spent countless hours (and paid numerous coaches) before we cracked the code that works for us on Facebook, but it is working really well for us now.
Some of the most important things to know when it comes to FB Ads:
- Start with retargeting (that’s showing ads to people who already know you but did not purchase). Master this - and start building information on your Facebook Pixel - before you do anything else
- Once you have that down, try working with the 1% “Lookalike” audience to prospect for new customers. This may take awhile because your pixel audience is small, so try layering on interests - 1% Lookalike and your largest competitor, for example. Don’t use interest-only targeting until you master this.
- Great photography and videography is key, as is smart copy. Research what’s out there in your industry and constantly test - what works for one company may not work for other people.
- Make sure you have good offers. For example, we have a $5 trial for our subscription, which converts affordably - if we promoted our subscription with the standard $30 front charge, it wouldn’t be as cost-effective.
🏃🏼♀️ How To Run Your Rv Rental Business
How To Retain Customers For Your Rv Rental Business
Retaining customers is one of the most effective ways to grow your RV rental business.
Oftentimes, it's easy to find yourself focusing on generating new customers, vs retaining your current ones.
Look at it this way - you are 60-70% more likely to sell a new product to an existing customer than you are a new customer.
That's not to say that finding new customers and revenue streams is not important, however, the easiest (and most inexpensive) source of new revenue is right there in front of you.
Here are some ways you can retain customers for your RV rental business:
- Responding to comments on social media
- Send discounts (or freebies) to loyal customers
- Provide valuable content, for free
- Write a hand written thank you note
- Provide awesome customer service and build relationships with customers
To find out more tips and tricks on retaining customers, check out this article ➜ here
Gretchen Bayless and Taylor Hood, founder of ROAMERICA dives deep into the process of attracting and retaining customers:
We are firm believers in ‘the more you give, the more you get’. We love helping people, offering advice, trip planning, van trip giveaways, etc. and our reward is seeing the smile on people’s faces. We develop a relationship with every customer and really get to know them. It’s a natural thing for us to do and it just so happens that it probably helps the business.
Another thing we believe in and has helped attract customers is to never pass up an opportunity. Always exceed expectations of the customer and always give before you take. You may be overworked, tired and have other responsibilities but if something presents itself and you know it may help the business or is super low risk, take that opportunity. Even if it means later nights and earlier mornings.
We haven’t come across the perfect formula to increase sales or traffic but we’re always tweaking and learning. We work a lot on SEO and our brand awareness. We work with a lot of companies with the same values and promote each other, which helps our reach.
In order to attract new customers and retain our customers, we really have to look at our website analytics. Most of our web traffic comes from organic Google searches which means we pay a lot of attention to SEO. That is our top priority.
Next, we focus our effort on social media and just staying present and keeping our brand fresh and inspiring. In order to stay present and in front of our customers and attract new customers, we look at our social media and website analytics every week. We use Iconosquare for social media analytics and Google Analytics for our website. It was pretty evident early on, that everyone LOVES pictures of the van. Specifically, exterior shots of the van set up in all its glory.
Our most ‘most liked’ post. Taken by @spreadsheetqueen.
We are a small business, just the two of us and we don’t outsource any marketing which is why we don’t do much in comparison to other brands. However, this also gives us complete control of what we put out there because we personally have created it.
In order to stay relevant, we send out an e-newsletter once a month and have a sign up on our website. We use MailChimp to design and schedule our newsletters and MailMunch for the pop up form on our website.
We also ask for emails at events or to sign up for our annual giveaway. We just added this newsletter January of this year, 2019. We had been wanting to do this since we started but we just couldn’t find the time. We still don’t have the time but we know how important it is to stay in front of your customers and offer something to prospective customers. Our newsletter has travel tips, trip ideas and more. This is also how we notify our customers of announcements.
For example, we recently updated our logo and dog policy (we now allow dogs!). So we sent out a super simple and quick e-newsletter to let our subscriber list know! It’s actually quite fun to create every month! What we’ve come to realize is that our email list doesn’t expect a highly professional newsletter with in depth articles. They expect relevant information that is up to date and they just want to hear about the business. So we try to not analyze too much about what we ‘should’ put out every month. We just look at our most recent blog posts or social media and share the information. Then if we have exciting announcements to share, we’ll send those as well. We have a 34% open rate and great click through as well.
Another way to to market the business and attract new customers, was to create partnerships and be a part of events/raffles. We partake in events and causes like the Children’s Cancer Association annual auction and the annual auction for the Native Fish Society. We love giving van trips away to causes like these. Once a year, we hold a big contest where one winner can win a campervan trip and a pile of gear from our partners. This gets a lot of attention and is super fun for us too! We also have our vans in raffles for Patagonia Portland events, Royal Treatment Fly Fishing and others. In the end, this attracts new people to our brand and one day when they’re thinking about taking a road trip, hopefully they remember us!
Diversify Your Product Line
Adding new products to your business is a great way to expand into new markets and grow your business.
It's important to note that adding new products and diversifying may not be in the cards for you right this moment, and that's okay. You can always consider it down the road.
Here are some reasons you may want to considering adding/diversifying your product
- Meeting the needs of your customers
- Establish yourself as a top provider in your industry and stay ahead of the game with competition
- Resistance to downturns/trends fading
- Create new revenue streams
Provide Great Customer Service
Providing exceptional care and creating relationships with clients is a great way to build your reputation and retain customers.
Whether you are an online business or a physical business, it's highly important to communicate with customers and make them feel like they are the priority.
Just remember: customer service represents your brand, values, vision and YOU as a person.
Authenticity
As a brand, you want to deliver an experience that authentic, honest and transparent.
Don't make the mistake of giving your audience less credit than they deserve.
Be Authentic
If you go around chasing every trend and only focused on yourself and money, you’re going to lose very quickly.
There have been many times where we have been tempted to do this but stayed true.
Sure we sacrificed sales, but we kept our integrity, played the long game and people saw and appreciated that, and really began emotionally investing in the brand.
Build a Referral Program
Word of mouth is one of the best ways to get the word out about your business and acquire new customers. Especially when you are starting out, it’s important to build a solid referral program to encourage existing customers to help you find new ones.
A great way to do that is by offering a reward (ie. credit on your service or cash) to customers that refer you to their friends and family.
A fantastic referral program will help with clout, credibility, and establishing yourself in the space.
Word of Mouth
The most tried and true way to grow a RV rental business is through word of mouth - some entrepreneurs would say it's more important than all social media.
Why you should focus on word of mouth:
- Consumers trust word of mouth above all other forms of marketing
- 92% of consumers believe recommendations from friends and family over all forms of advertising
- 64% of marketing executives indicated that they believe it is the most effective form of marketing
Learn more about word of mouth in our guide: 30 Ways Founders Grow Their Business ➜
How To Crush The Sales Process For Your Rv Rental Business
You may find yourself in a spot where you're ready to hire a few (or many) salespeople to support the sales conversion process.
Regardless if you have one or thirty salespeople, it's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
Mike Korba, co-founder of User.Com walks us through the entire sales process and which teams are responsible for what:
User.com Sales Process
Each user and account is qualified with a specialist. For business leads, they are handled by the sales team, and if they are qualified we give them a demo, more than often at the end of their fourteen-day trial. If they’re happy they’ll add a payment, and get an account manager, so a customer support and success team who will help implement the solution and to use the technology.
Sometimes, users will convert naturally on their own, after using the freemium product and finding it to be something that they will find beneficial.
After they convert, we help with onboarding , give them some personalized tips for their specific business or industry to grow plus all kinds of support, for whatever they need - something we take huge pride in.
The team is right now more than 30 people, with more than half working on the IT and product side, and the rest are in three teams: Support, Marketing, and Sales who all work together very closely.
We put together the best resources on the internet to help you start your RV rental business.
- Platform tools such as Amazon or Canva
- Email tools such as MailChimp or Constant Contact
- Social media tools such as Facebook , Instagram , Twitter , YouTube , Pinterest or LinkedIn
- Advertising tools such as Facebook Ads , Google Adwords or Google ads
- Reviews tools such as YotPo , Judge.me , Yelp or Google My Business
- Design tools such as Canva , Adobe Suite or HubSpot’s form builder
- Analytics tools such as Google Analytics or Google Tag Manager
- Productivity tools such as Google Suite , Dropbox , Slack , Microsoft Office 365 or pCLoud
- Payments tools such as Square
- Blog tools such as WordPress
- Accounting tools such as Quickbooks
- Crm tools such as Hubspot
- Freelance tools such as Fiverr
- Affiliate tools such as Refersion or Amazon Associates
- Sales tools such as ClickFunnels
- Stock images tools such as Unsplash , Pixabay , Shutterstock or Istockphoto
- Seo tools such as Ahrefs
- Web hosting tools such as WP Engine or Kinsta
- Payroll tools such as TSheets or Intuit
- How To Buy, Sell And Operate Rv Parks And Campgrounds
The Complete Guide To Renting An Rv
The Narrow Road: A Brief Guide to the Getting of Money
The Richest Man in Babylon
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From dream to reality: How to start your own RV rental business
14 min read
The recreational vehicle (RV) rental market has grown considerably in recent years. COVID-19, remote working culture, and social media have made the holidays on wheels more appealing. However, that's just one part of the picture.
RV rentals allow people to explore and adventure in the outdoors. The sightseeing, nature, and independence mix is perfect for holidaymakers looking for a more unique, off-the-beaten-path experience.
The freedom and versatility that RV rentals offer is unparalleled. However, a well-serviced, modern campervan is expensive for most people. Starting an RV rental business means you can make these special holidays accessible to everyone.
The availability of fuel-efficient vehicles means that campervan vacations are cost-effective and environmentally friendly compared to other holidays. Rental models also meet the growing trend toward sharing goods that aren't needed daily. RV rentals could be the way to go if you want to start a business in the travel and tourism industry that brings people joy while offering a more eco-friendly option for their holiday trips.
The global RV rental business market is growing. Worth around $800m in 2021, the RV rental market is projected to surpass well over $1bn dollars over the next few years, thanks to a compound annual growth rate of 7.4%. With nightly rental rates of around $200 or more per campervan, this can be a lucrative business when done right.
Let's look at the essential steps required to start a successful RV rental business.
Create an RV rental business plan
Running a profitable RV rental business starts with a solid plan. You need to understand your market, your competitors, and the overall finances of the niche.
Starting an RV rental business requires a significant investment. A business plan is essential if you want to raise capital or for your business. So make it as deep and well-researched as possible.
Here are some critical parts of an RV rental business plan that you must include.
Market research and competitor analysis
Before you start an RV rental business, you need to do a lot of research. So explore the market and your competitors, and think about seasonality.
Identify your target audience
RV owners and renters have roughly similar demographics. A recent comprehensive study by the RV Industry Association shares some incredible insights into the typical target market for RV rentals.
Here are a few stand-out statistics from the report that can help you identify your target audience.
RV ownership has increased by 60% over the last 20 years
RV owners and renters are split evenly between those over and under 55s
Remote workers are increasingly taking "hush trips," i.e., unauthorized working holidays
Millennials are the most significant growth market
RV deliveries are becoming increasingly popular
Other things to consider are your location. If you live within driving distance of holiday attractions or hotspots, you can target travelers to those areas.
Perform a competitor analysis
Competitor analysis is an excellent source of information. Things that you want to find out include:
What are your competitor's rental fees?
What services do they offer?
How many campervans do they have?
What do they do well, and where are they failing?
What areas do they service?
What are their pickup and collection policies?
Do they deliver RVs?
The answers to all these questions can help you spot underserved market segments and opportunities. Some of your rivals will be big faceless corporations. Others will be RV owners who want to earn money from their RVs. On the other hand, you should aim to find areas where you can offer better value, vehicles, or services to attract customers.
Evaluate seasonality
RV rental businesses are heavily affected by seasonality. Depending on your location, the holiday season could be just a few months long. So, that's something you need to work into your plan.
If you buy a fleet of RVs, you must pay for them each month. So ensure that you can collect enough rent during the high season to come out ahead.
Business planning
An RV rental business requires a significant initial investment. The rise in demand during COVID-19 saw motorhome prices shoot up. While starting an RV rental business is more expensive than in the past, the high costs have also significantly bolstered the need for a rental market.
Here are a few things to consider during the business planning stage.
Define your value proposition
How will your RV business stand out? That's the big question you need to ask. If there are a lot of RV rental companies in your area, you need to find a way to get an edge.
While competing on price is an excellent way to win new customers, high costs and business expenses will cut your profits. So consider offering high-quality rentals, more convenience with pickups and drop-offs, or next-level service.
Think about your target audience and what they want. Understand their needs and communicate how your RV rental business can accommodate these desires and more!
Describe your business model
You need a concrete financial plan to raise money for your camper van rental business. So get your business model and pricing strategy down on paper so you and your potential investors understand precisely how you'll generate money.
RV rental income will make up the bulk of your revenue. But you should explore other areas where you can earn money. For starters, you can offer extras and upgrades that people might need during their vacation. That could be something as simple as selling coffee and drinking water or offering extra equipment to make life on the road more fun.
Project your finances
Financial planning is a crucial stage of starting an RV rental business. You need to find an answer to the question, "Is an RV rental business profitable?"
The good news is that you can charge around $200 or more per night for an RV rental. Motor Biscuit suggests the average monthly payment for RV financing is between $225 to $650 monthly . Crunching those numbers shows that renting RVs can be very profitable, especially if your inventory is constantly used during the high season.
However, before you start working out how soon you can retire, you must consider the expenses that can eat into those profit margins. Let's take a look.
Startup costs:
Downpayment for your RV fleet
Rental facility
Permits and licenses
Accounting and legal advice
Business and admin tools
Ongoing expenses:
Maintenance
Credit card fees
So, while rental fees have a solid gross margin, there are plenty of business expenses to consider. Experts suggest you target around 60% profit margin on your rentals.
Create a marketing plan
Once you have your costs and business model down, it's time to think about how to reach your target market. Consider both online and offline channels. Content marketing and SEO can turn your website into a well-oiled booking engine, but don't ignore the power of social media platforms. PPC ads are a cost-effective way to get instant results.
Ensure your business plan has a solid go-to-market strategy . It's not something you can figure out on the hoof.
Establish a legal entity for your RV rental business
To start your own RV rental business, you must do things by the book. Here are the major things you'll need to take care of to ensure your business is legal and above board.
Choose a name for your business
Coming up with a business name is an exciting time. Pick something catchy and memorable that makes it clear what business you are in. Check your desired name against local business registries, social media accounts, and websites. You don't want any confusion.
Form a business entity
You have a few options when deciding on a legal structure for your business. Pick carefully because each kind has tax and legal implications.
Sole Proprietorship: This business entity can be set up with just a social security number (SSN). However, there are two major downsides to consider. Firstly, you'll need to pay tax on your business and personal earnings. Secondly, you're liable for any debts or damages which could affect your personal assets.
Partnership: A partnership has many similarities to a sole proprietorship. However, it's the business structure to use when you have a business partnership. But choose carefully because you'll be liable for your business partner's actions and decisions.
LLC (Limited Liability Company): An LLC is a good structure for an RV rental business because it allows for pass-through taxation while limiting your liabilities in the event of bankruptcy or legal action.
Before you choose your business structure, speak to a legal professional to get a recommendation that suits your needs. Rules vary from country to country, so ensure you get some advice or, at minimum, do some research.
Register for taxes
You'll need to pay taxes on your earnings. However, the exact process depends on the country you are operating in. If you're in the US, you must apply for an Employer Identification Number (EIN) before registering for state and federal taxes.
Your local government websites should offer you all the information you need about taxes in your region.
Set up a business bank account
Setting up a business bank account is an essential step. There are several benefits to consider. For starters, if you want the liability protections afforded by an LLC, you need a business account. Furthermore, it's a bad idea to commingle personal and business funds.
Finally, setting up a separate account for your RV company means you can build credit, get a business credit card, and avail of loans. This can help with cash flow, which is crucial for small businesses of any kind.
In the US, you can set up a business bank account with an EIN. Check your local requirements to ensure everything runs smoothly.
Legal and regulatory considerations
Starting an RV rental business requires more than just registering your business. There are also legal and insurance matters that you need to take care of. Failure to do so could result in fines or business closure, so don't take this step lightly.
Small businesses need to apply for a variety of permits and licenses. Requirements vary depending on where you do business. So ensure you check government websites to ensure you comply with local regulations.
Insurance coverage
You'll need business insurance to protect your inventory and employees. However, you'll also need RV Insurance to cover your vehicles while they are being rented.
Some of the insurance policies that you'll need are:
Property insurance for your RV rental premises
Business property insurance for your RVs and equipment
Commercial auto insurance for your company vehicles
RV breakdown insurance
Professional liability insurance
Shop around to get the best packages and ensure you get advice from a professional.
Rental contract and waiver policies
An RV rental firm needs rock-solid contracts to protect your inventory and business. Accidents happen on the road, and you can't be liable for your renter's actions.
So get the advice of a legal professional and ensure you are protected in the event of damages or loss. What's more, you must also build in protection for your inventory. You are renting out goods that can cost more than six figures, so make sure you have policies that guarantee they return to you within the specified time frame.
You'll also need to ensure that any damages are charged to your customers. This includes windscreen damage, punctures, dents, and scapes. So draw up a contract that protects your RV.
Inventory management
RV rentals involve some logistics. While customers can sign rental agreements digitally, you'll need to ensure you collect documents, set up insurance, and give out and collect the keys.
Here are a few things you need to consider.
Sourcing RVs and equipment
Buying an RV fleet is expensive. While you could buy used vehicles, RV renters are increasingly looking for fresh campervans. Additionally, having a fleet that is under warranty means you're protected from mechanical issues.
Buying in bulk can get you a better price. But if you're starting, it might be best to start with just a few RVs while you get into the groove.
Tips for maintaining and organizing inventory
Rental inventory management software is crucial. You can also connect these programs to your website, allowing potential customers to see availability and book online.
You need a solid process for checking vehicles in and out. Ensuring your RV's are roadworthy is essential. Any negligence will destroy your business and your reputation.
RV shops are expensive. So, if you're mechanically minded, you can save a lot of money on maintenance and repairs. Otherwise, buying new and reliable models can keep maintenance costs down.
Marketing and customer acquisition
Your dreams of starting an RV rental business can only come true with good marketing and advertising. Here are some helpful tips.
Identifying your target market
RV renters come from lots of different backgrounds. But reaching all of them is a challenge. Your best bet is to figure out who you want to target. For example, families, RV renters with pets, adventurers, etc. Catering to these cohorts will require distinct messaging.
Another thing to consider is how the campervan will be used. Some renters will want to drive thousands of miles over rough terrain and camp under the stars. Others will want to drive to a campsite and stay there for their RV vacation. The wear-and-tear implications are totally different.
So figure out who you want to serve and where they congregate.
Build a memorable brand for your business
Branding is essential in the RV rental business. But you need to strike the right tone. Appealing to your client's sense of adventure is a good start. However, most holidaymakers want to rent from a dependable and trustworthy business.
All this comes downstream from knowing your target audience. Understand their needs, and project them with your brand.
Effective marketing strategies for an RV rental business
Millennials represent a significant source of growth in the RV rental world. Digital marketing is the best way to connect with this demographic. So consider a mix of short and long-term strategies.
A content marketing strategy that produces updated and exciting information on campervan holiday routes can help draw long-term traffic to your website. When paired with SEO, this can be a great way to bring a steady stream of customers.
However, if you're just starting out, digital ads on Meta or Google can help you connect with your audience. And don't forget about using a solid local SEO strategy , either.
Ensure you have social media accounts too. Post regularly, be helpful, and engage with RV-oriented groups, and you'll make the connections that can make a difference.
The role of a website and online user experience in driving bookings
The way that consumers shop has changed remarkably over the last few years. Today buyers want to do their research and find the best deals. So make it easy for them by providing photos, vehicle specs, and transparent prices.
Ensure the user experience is as frictionless as possible. Don't make them need to call you up to enquire about availability or prices. Make sure all the essential info is at their fingertips.
Here is a step-by-step guide to building a rental website . Make it as functional, professional, and reassuring as possible to boost conversion rates .
Operations and customer service
You need smooth operations and excellent customer service to build trust, loyalty, and a reputation. Here are two areas you need to consider.
Managing daily operations
You must build clear internal policies for handling the pickup and drop-off of your vehicles. Additionally, because you'll be dealing with driver's licenses and personal information, you need solid data management too.
The most important thing is ensuring your fleet is going out and coming back in good condition. Thorough inspections and a good maintenance schedule are essential.
Delivering excellent customer service
Excellent customer service keeps people coming back. Be attentive, knowledgeable, and compassionate, and you'll make your customers feel cared for.
Problems will happen. But deal with them responsively and with kindness, and you'll protect your business reputation.
Growth and expansion
Of course, the work never truly ends. Starting a business is just the first phase, but if you want to generate more revenue, you'll need to grow and scale.
Key Performance Indicators to monitor
KPIs are a great way to track performance. Here are a few RV rental-specific KPIs that you should monitor.
RV fleet utilization = # days rented / # days available
Rental rate = total rental revenue / # of rental contracts
Capital utilization = annual rental revenue/cost of acquisition
Average order value = total revenue/# of bookings placed
RV to rental ratio = # of RVs available for rent/ total # of RVs
Strategies for growing the business
High business expenses and extreme seasonality mean that RV business owners need to look for additional revenue streams. Thankfully, there are a few ideas that can help you make the most of the busy season.
While RV rental will bring the lion's share of revenue, you can explore add-ons to increase the value of each rental. Depending on the surrounding area, you can offer extra services. For example, you can provide mountain bikes that attach to the RV, disposable BBQs, fishing rods, or anything that helps your customers achieve the RV holiday of their dreams.
Other things to consider are mileage charges. These extras would cover wear and tear. Additionally, you can explore airport pickup and drop-offs to target international travelers at an additional cost.
Make the most of local attractions and events. Additionally, you might be able to establish partnerships with surrounding campsites that welcome RV visitors. Be brave enough to think also outside the box.
Potential challenges and how to overcome them
RV rental businesses face some challenges as the market grows and matures. Here are some key concerns that you need to consider.
Peer-to-peer popularity: Peer-to-peer (p2p) rentals are rising in popularity. This model involves an RV owner and RV renter doing business over an online platform. The best way to compete here is by offering new models and outstanding service.
Seasonality: Depending on your location, motorhome demand will drop off during winter. If you're sitting on a fleet of RVs, you're paying out costs without any return. Short-term leasing agreements can allow for a more dynamic inventory that responds to demand. But they will also be more expensive. So crunch the numbers.
Insurance costs: Rising RV insurance costs can eat into profits. However, some innovative options on the market allow you to pay for insurance only when you need it. These policies can counter the downsides of seasonality too.
Becoming a new RV rental business owner could be a great way to earn a living. The sector is growing steadily due to the demand for more unique and sustainable holidays.
Running a successful RV rental business takes hard work and a significant financial investment. But once your campervans are on the road, you can sit back and take profit with minimal hassle.
RV rental is becoming more popular with Millenials and Gen Zs. Reaching these demographics requires a solid digital marketing strategy alongside a website and booking portal.
If you think RV rentals are the life for you, get out there and make it happen!
Article written by Akseli L.
A marketer who gets excited about all things e-commerce. Outside of office hours, you'll most likely find Akseli from the countryside, hiking and shooting landscapes.
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Renting Out Their RV Went From Side Hustle to Full-On Business That's Brought in $25,000 in One Month. Here's How. Four owners explain how their side hustles took off when the RV rental business started booming.
By Jessica Thomas • May 24, 2021
The lure of the great American road trip has never been stronger than in the past year. Wide open roads, thousands of acres of national parks to explore — what more could you ask for from a pandemic-era vacation?
When hordes of people suddenly decided they wanted to road trip last summer, demand for the greatest road trip vehicle of all — the RV — skyrocketed. But not everyone wants to actually own an RV, so platforms for renting them were suddenly the hottest business in town.
A recent owners report from peer-to-peer RV rental marketplace RVshare found that 75% of the owners on its platform reported making more money in 2020 than 2019, and 50% of those owners were able to fully cover the cost of their RV with rental income. The average owner on RVshare brings in $16,000 a year, and more people are jumping on the bandwagon every day: 20% of the owners on RVshare joined in 2020, and 14% purchased an RV in 2020 for the express purpose of renting it out.
Outdoorsy , another peer-to-peer RV rental marketplace, hit $1 billion in revenue last year, and it saw a 400% increase in bookings on some holiday weekends in 2020. For some of the owners on its platform, what started as a side hustle has enabled them to quit their full-time job or purchase more RVs to rent out. Below, read how four RV owners from across the U.S. who use Outdoorsy have turned a pandemic into a serious business opportunity.
Answers have been edited and condensed.
Brooke and Rob Lykins
Torrance, California
When did you buy your first RV?
We bought our first RV in 2017. Rob has always looked for adventure and thought an RV road trip would be fun. Brooke heard "RV" and thought dingy, old, brown, dirty. But after conquering a home addition and remodel together, we decided we could make a dingy RV just as beautiful to travel in. Thus, a new adventure began.
When did you start thinking about renting it out?
We had made this old RV so pretty and fun that friends and neighbors asked if they could rent it from us. Rob, being in the insurance industry, was not interested in this without finding a service that could provide short-term rental insurance for it. Brooke kept on bringing up the opportunity to make a little extra money.
When did you realize you could make serious money doing this?
Within a week of listing our RV, we got a rental. Then we got rentals continuously. We were making a consistent $2,500-plus a month on a 25-year-old RV that we had updated and owned free and clear. For us, this meant not going deeper into the debt hole every month and starting to keep our heads above water. It was a big deal. We bought two more newer RVs and renovated them.
After fees, how much money are you bringing in per month? Was it enough to enable you to quit your full-time job, or do you plan on keeping this as a side hustle permanently?
Our business has grown and changed a lot over the past year. In the last few months our income has seemed a little unbelievable. In the last 30 days we've made nearly $25,000 and about $15,000 the month before that. Neither of us have quit our regular jobs yet. We plan to keep this and grow it and see what happens. We currently have five RVs on the platform and before summer will have two more, at least.
Ryan Goodman
Wimberley, Texas
We bought our first RV in December of 2017. It was a 2018 Palomino Puma 32RBFQ. We bought that RV for the purpose of living in it after selling our house in Smithville, Texas. We were at a point in our lives where we needed to decrease our expenses, and our house was our biggest expense. That combined with the realization that we only used half the house, if that, and we liked the idea of moving to a minimalist lifestyle.
Then you bought another RV and started renting it out. When did you realize you could make serious money doing this?
I realized we could make some serious money in May 2020 when we had every weekend booked, netting us nearly $1,000. After a few months, we started wondering how we were going to acquire more RVs. More RVs equals more money.
We got the idea to rent out other people's RVs on their behalf — RV rental consignment. Simply put, we'll take possession, insure and manage the private owner's RV as a rental, and in return, we split the nightly rental amount 50/50. It took a while to get off the ground, and I had a few stumbles in building up my credibility proving this concept for us. Since September of 2020, we've acquired seven consignments that we rent out through our LLC, acquired a commercial auto policy, created a website and have completed nearly 60 rentals, totaling more than 300 nights rented.
This has given me the opportunity to build a business, something I've always wanted to do, create my own hours, and spend literally every day with my son.
Any fun customer stories?
We rented to a man named Cayce Rivers and his wife. They spent eight nights in Big Bend for her birthday. Cayce is a local CEO of a meadery called Meridian Hive here in Austin. We ended up connecting after their rental and stayed in contact for a while. I was at the start of actually running an LLC, and I needed some guidance. Cayce was kind enough to mentor me, and the connection made was incredible for me.
What's a lesson you've learned along the way that you wish you knew when you were starting out?
This isn't really something I learned renting RVs, but my previous job in sales taught me the key to sales is to genuinely, wholeheartedly want the best for your customer, even if that isn't you. When you can look at a potential customer and advise them that you are not the best option or fit for what they are looking for, genuinely caring about their well-being instead of a sale, then you will feel the happiness that comes with helping someone.
Alex Lindamood
Washington, D.C.
I bought my first RV in June 2020. I like the RV lifestyle in that RVs are quite versatile. They can be used for road trips, camping trips, a picnic day at the park, tailgating, hiking trips — so many options.
When did you decide to rent it out?
I first decided that I would start an RV business in September 2019. I was planning my own RV trip, and I realized that the numbers looked very good as a side business were I to take that venture. It has changed my life. I was able to exit my prior career field — I spent 16 years in hotel management and was ready for a change. This made it possible.
How much time does it take per week to run this business?
I have several vehicles in my fleet, but right now I am spending about 20 hours per week on it. As noted, I worked in hotel management my whole career — I am taking care of the same demographic and same customer types I've dealt with throughout my career — it's just that they are renting an RV rather than a hotel room in this case.
What's something you'd tell other RV owners who are interested in doing this?
I caught on pretty quickly with my prior career background, but I will tell you that almost every RV renter is ecstatic about the idea of an RV vacation — but they aren't confident in it. If you want to be successful as an RV owner, you have to be a "coach" with the renter. Help them be 100% confident that they can do this. They need help understanding how to do everything before they go. This is new to them.
Paresh Patel
Austin, Texas
Why did you buy your RV?
I'm cheap! The prospect of committing to another year of expensive Austin rent pushed me towards the idea of getting an RV, getting some land, building a tiny home while living in the RV and pursuing other dreams (furniture-making) somewhere within an hour of Austin.
Why did you decide to rent it out?
My father passed away three months later, so the pursuit of these dreams got put on hold. I went back to domesticated life — I leased an apartment in central Austin and had to figure out what to do with this RV that I had just bought. So I did some searching and found out about the main RV sharing platforms.
What's the time commitment like?
The amount of time really depends on the number of turnovers that occur. I have a small fleet of four vehicles and run this operation solo. Depending on how busy things are, it can be as little as 10 hours a week to as much as 60 hours a week. Having never managed rentals before, I was naively optimistic about how much time things can take. Things often do take longer than I expect as with everything in life, but you develop SOPs and get more efficient with time.
I had an interesting experience helping an awesome couple from New Jersey drive their newly adopted son from Port Aransas back home. This was within the past year, during the pandemic, so this mode of transportation was a good option. I drove from Austin to Port Aransas to deliver the RV to the couple, found my way back to Austin, flew to New Jersey (where I'm originally from and where my mom still lives), picked up the RV, stuffed the RV with my mom's cooking, and then drove back to Austin, where I ate well for about a month before going back to a diet of processed food.
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RV Rental Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business ideas » Automotive Industry » Car Rental
In the past few years, the market for RV rental businesses in the United States has continued to rise. The increasing appeal of road trips along with outdoor activities has been an important variable influencing that advancement.
Folks are increasingly opting to travel by RV because it makes it possible to take in the natural world in a simpler and more enjoyable manner. Several RV rental businesses provide a variety of automobiles to accommodate a variety of spending plans and tastes.
Furthermore, the ability to pick up and drop off RVs in various places offers greater flexibility in travel arrangements. As people look for different methods to get around while discovering the outdoors, the market for RV rental businesses within the United States is projected to increase.
Steps on How to Write an RV Rental Business Plan
Executive summary.
Rove On Wheels serves as an RV rental company in Orange City, Florida. It offers a superior traveling experience for clients looking for excitement as well as comfort. The fleet we operate includes a variety of motorhomes, and campervans, along with travel trailers that are all maintained properly and outfitted with cutting-edge features to guarantee a relaxing and stress-free trip.
We strive to offer cost-effective rates for rentals as well as accommodate rental periods, thereby making it less difficult for visitors to enjoy the natural beauty of Florida. We aim to be the preferred choice for RV lovers, offering an enjoyable and thrilling way to experience the Sunshine State.
2. Company Profile
A. our products and services.
Rove on Wheels RV provides a variety of offerings and amenities for clients in order to give them a comprehensive and seamless getaway. Our services and products include:
- RV Rental : We rent out a variety of RVs, which include campers, motorhomes, as well as travel trailers. You will find air conditioning systems; cozy bedding, kitchenware, and multimedia equipment are all standard features in our vehicles.
- Delivery and Setup : We provide delivery as well as set up to clients who would rather not drive. Note that we will be bringing as well as setting up the RV at a predetermined location, guaranteeing it is geared up for the customer’s arrival.
- RV Accessories : We also provide a variety of accessories to improve the client experience, such as camping seats, grills, and chillers.
- Roadside Assistance : Our vehicles include 24-hour roadside assistance to give clients peace of mind while traveling.
- Cleaning and Maintenance : before every single rental, we guarantee that our entire RVs remain pristine and tidy. Cleaning and maintenance offerings are additionally available to clients who need them throughout the rental period.
- Travel Planning : To guarantee clients get the greatest value out of their expedition, our crew of professionals can assist them with trip preparation advice, which includes suggested routes and locations.
b. Nature of the Business (Business Model)
Rove on Wheels RV is a rental-based enterprise that provides a variety of RVs for rent for people looking for a pleasant and practical form of travel. We make money via fees for rental, and we strive to offer inexpensive prices and accommodate rental periods that are appealing to a broad spectrum of clients.
To offer all-encompassing and effortless encounters, we also provide additional amenities including delivery and set up, RV accessories, as well as travel planning. We put first client fulfillment and strive to develop lasting connections with those we serve in order to bring in more business as well as referrals.
c. The Industry You are in
Rove on Wheels will operate in the recreational vehicle rental industry, which is a well-regarded subset of the larger travel and tourism industry that has somewhat contributed significantly to the global economy.
d. Mission Statement
Rove on Wheels’ mission is to supply customers interested in discovering the stunning scenery of Florida’s outdoors with an extraordinary and seamless RV rental experience.
To meet the demands of those who rent from us, we strive to provide an extensive selection of impeccable RVs with contemporary features, reasonable rental prices, as well as accommodating rental periods. Our intention is to establish lasting connections with our clients, staff members, and the community by demonstrating honesty, integrity, competence, and dignity.
e. Vision Statement
Rove on Wheels’ vision will become Florida’s leading RV rental business, with a reputation for offering outstanding client service along with an easy renting process for people looking for outdoor adventures.
To satisfy the ever-evolving demands of our clients, we strive to constantly grow our fleet with the most recent RV models and cutting-edge features. Our ambition is to establish ourselves as a reliable and identifiable brand in the RV rental sector, associated with excellence, affordability, and adventure.
f. Tagline or Slogan
Rove on Wheels – “Discover Florida on the Open Road”
g. Legal Structure of the Business
Because of its adaptable nature, security against liability, as well as tax benefits, a Limited Liability Company (LLC) is the most appropriate legal framework for Rove on Wheels. An LLC allows the company to differentiate personal and business liabilities, protecting our owners from personal monetary damages.
Aside from that, it provides tax flexibility by enabling Rove on Wheels to choose whether to be taxed as a sole proprietorship, partnership, S-corporation, or C-corporation.
h. Organizational Structure
- Chief Executive Officer (CEO)
- Operations Manager
- Sales and Marketing Manager
- Customer Service Representative
- RV Technicians
- Delivery and Setup Crew
- Administrative Assistant
- Travel Planner
- Part-Time or Seasonal Staff
i. Ownership/Shareholder Structure and Board Members
Mathon and Sarah Wilder are the only owners of Rove on Wheels LLC which gives them equal managerial and ownership privileges.
They have invested capital in the company and share revenues and expenses in accordance with their ownership percentage. The precise ownership and shareholding arrangement is going to be specified in the LLC’s operating agreement.
SWOT Analysis
A. strengths.
- A large selection of RVs with cutting-edge features and low rental rates are available.
- Client fulfillment is prioritized in all aspects of customer service.
- An accessible location in an increasingly popular tourist area.
- Brand awareness and an excellent track record for quality and dependability.
- Powerful staff members with RV rental industry experience.
b. Weaknesses
- RV rentals within Florida are subject to seasonal demand.
- Outside of Florida, there is limited geographical coverage.
- Financial crises as well as shifts in client travel choices make the company vulnerable.
- RV inventory is dependent on only a handful of suppliers.
c. Opportunities
- Expanding into fresh market locations as well as renting out luxury RVs.
- Diversifying into complementary businesses, for instance, RV sales as well as travel planning services.
- Collaborations with nearby attractions and travel agencies to provide package deals and discounts
- A financial commitment to technological advances as well as internet marketing to increase the number of clients and operational effectiveness.
i. How Big is the Industry?
The recreational vehicle rental market in the United States was $530.5 million in 2019 and is expected to surpass $1.5 billion by 2027, growing at a CAGR of 13.5% between 2020 and 2027.
ii. Is the Industry Growing or Declining?
Reports have it that the recreational vehicle rental industry in the United States will grow at a CAGR of 13.5% from 2020 to 2027, and this goes to show an important upward pattern in the industry. Owing to that, the industry may be said to be expanding.
iii. What are the Future Trends in the Industry
The recreational vehicle rental industry’s future prospects consist of a greater emphasis on environmental responsibility and environmentally friendly habits, the incorporation of cutting-edge technologies including self-driving vehicles along with intelligent home systems, as well as the creation of more individualized and tailored rental encounters that respond to various needs of customers.
Furthermore, the industry anticipates an increase in demand for less lengthy rental days as well as smaller, more environmentally friendly RVs.
iv. Are There Existing Niches in the Industry?
- Luxury RV Rentals
- Adventure RV Rentals
- Pet-friendly RV Rentals
- Vintage RV Rentals
- Camper Van Rentals
- One-Way RV Rentals
- Festival RV Rentals
- Budget RV Rentals
v. Can You Sell a Franchise of Your Business in the Future?
We have no plans to sell a franchise in the future at Rove on Wheels. Even though we plan on expanding to other prevalent and potential tourist destinations in the United States, all our locations will be wholly owned and operated by the company.
- Competition comes from both established RV rentals as well as freshly arrived entrants.
- Modifications in rules and licensing necessities for RV rental enterprises.
- Supply chain disruption caused by catastrophic events, unrest in politics, or additional variables.
- Concerns regarding the environment as well as rules that may have an impact on the growing acceptance of RV travel.
i. Who are the Major Competitors?
- Cruise America RV Rental
- El Monte RV
- Road Bear RV Rental
- Apollo RV Rentals
- Sun Cruisin’ RV Rentals
- Escape Campervans
- USA RV Rentals
- Allstar Coaches LLC
- Florida Camper Rental
ii. Is There a Franchise for RV Rental Business?
- Cruise America: $3,658,750 to $4,617,750
- El Monte RV: $1,282,980 to $3,517,740
- Road Bear RV: $1,000,000 to $2,000,000
- Apollo Motorhome Holidays: $750,000 to $1,500,000
- Star RV: $750,000 to $1,500,000
- Escape Campervans: $500,000 to $1,000,000
- Jucy RV Rentals: $400,000 to $800,000
- Outdoorsy: $200,000 to $510,000
- RV Rental Outlet: $150,000 to $350,000
- Adventure Touring: $150,000 to $300,000
- Allstar Coaches: $125,000 to $250,000
- Best Time RV: $125,000 to $250,000
- Greenberg Rent A Camper: $100,000 to $250,000
- Cruise Canada: $75,000 to $150,000
- Class C Rentals: $50,000 to $100,000
- RV Rental of Sanford: $50,000 to $100,000
- RVPlusYou : $50,000 to $100,000
- My RV Hub: $25,000 to $75,000
- RVshare: $25,000 to $75,000
- RV Trailers Plus: $25,000 to $75,000
iii. Are There Policies, Regulations, or Zoning Laws Affecting the RV Rental Business?
Indeed, there are several policies, regulations, as well as zoning laws in the United States that directly impact the RV rental industry.
The legislation in question can differ by state and city and may contain barriers regarding where RVs are permitted to be parked or utilized for outdoor activities, permit and licensing requirements, RV security regulations, as well as rental income taxes.
Furthermore, RV rental companies have to adhere to federal guidelines, including those established by the Department of Transportation for the secure operation of commercial automobiles. To avert legal troubles and consequences, RV rental companies must thoroughly investigate and adhere to every regulation and law that applies.
Marketing Plan
A. target audience.
Rove on Wheels’ intended customer base consists mostly of families and individuals who are keen on checking out the state of Florida in the warmth and ease of an RV rental. Travelers, who want to take advantage of the natural environment, look into new areas, go to ceremonies or events, or just enjoy an opportunity to unwind fall into this category.
Rove on Wheels could also appeal to consumers who require short-term lodging or accommodation while traveling for business trips or events. The company’s adaptive rental possibilities as well as an extensive selection of RVs match a broad spectrum of clients, from experienced RVers to inaugural renters.
i. Age range
Rove on Wheels’ the intended demographic is bound to be diverse in age, as RV travel may be attractive to people of all ages. Nevertheless, the company intends to concentrate on adults between 25 to 65 who possess money and an appetite to take trips to unfamiliar places.
Note that this comprises households with kids, married individuals, and elderly people who want to enjoy the liberty and versatility that RV travel offers. Aside from that, the company could be targeting younger adults in the early stages of their lives who have an appetite for thrilling adventures and looking for an affordable substitute to conventional vacation options.
Finally, the age spectrum of Rove on Wheels’ intended demographic might differ depending on factors like travel pursuits, earnings, and lifestyle choices.
ii. Level of Educational
The target audience’s level of education is not defined because it might differ greatly among people who are intrigued by RV rentals.
iii. Income Level
Rove on Wheels’ target audience is likely to be middle- to upper-class people who are capable of covering the price of renting an RV along with any connected costs associated with traveling. This may consist of households, elderly people, and adventurers of various income levels.
iv. Ethnicity
The ethnicity of Rove on Wheels’ intended demographic cannot be determined because folks who are interested in RV rentals are likely to be wide-ranging in their backgrounds.
v. Language
There are no language restrictions at Rove on Wheels.
vi. Geographical Location
Rove on Wheels’ target audience consists of people who live in or intend to visit Florida, especially the Orange City area.
vii. Lifestyle
Rove on Wheels’ target audience consists of people who delight in outdoor adventures and outdoor activities and want adaptable and simple travel options.
b. Advertising and Promotion Strategies
- Social media advertising
- Email marketing
- Referral program
- Event Sponsorship
- Content marketing
- SEO optimization
i. Traditional Marketing Strategies
- Direct mail
- Radio advertising
- Vehicle wraps
- Trade shows
ii. Digital Marketing Strategies
- Search Engine Optimization (SEO)
- Pay-Per-Click Advertising (PPC)
- Social Media Marketing
- Content Marketing
- Email Marketing
- Online Reputation Management
- Influencer Marketing
iii. Social Media Marketing Plan
- Consistent Content Creation
- Visual Content
- User-Generated Content
- Influencer Partnerships
- Social Media Advertising
- Customer Support
c. Pricing Strategy
Rove on Wheels uses a flexible pricing technique that fluctuates based on vehicle type, rental time frame, as well as peak travel times. The company strives to provide affordable rates whilst guaranteeing the rental fee encompasses every expenditure, such as repair, maintenance, and insurance.
Sales and Distribution Plan
A. sales channels.
Rove on Wheels incorporates both online as well as offline sales channels. The company markets its RV rental solutions via its official website, social networking platforms, and online travel booking sites, along with partnerships with nearby tourist businesses and promotion at meetings and trade shows.
b. Inventory Strategy
Rove on Wheels maintains an extensive inventory that comprises a variety of RV varieties, models, and shapes. The company refreshes its vehicle inventory on an ongoing basis and guarantees that all its RVs are furnished with the finest and most up-to-date features.
c. Payment Options for Customers
Below are the payment options Rove on Wheels intend to make available to our clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
d. Return Policy, Incentives, and Guarantees
Rove on Wheels is equipped with an accommodating return policy that permits clients to bring back their RV rental ahead of time and receive a calculated refund, dependent on the rental agreement conditions of use.
In addition, the company provides a variety of incentives, such as discounts for returning consumers and suggestions, along with advertising opportunities throughout off-peak periods. Rove on Wheels guarantees the high standards of its automobiles and solutions, making sure of a pleasant and effortless travel experience for clients.
In the event of a problem or an emergency, the company offers 24-hour roadside assistance as well as support to guarantee that clients are able to relish their journey with confidence.
e. Customer Support Strategy
The customer support strategy at Rove on Wheels focuses on delivering outstanding service to clients. The company provides electronic reservation and payment, straightforward interaction routes, as well as 24/7 roadside assistance.
Operational Plan
A. what happens during a typical day at an rv rental business.
Replying to client queries and bookings, prepping automobiles for rental, carrying out security inspections and servicing, and overseeing paperwork and monetary transactions are all part of an ordinary day at an RV rental company.
Staff members can additionally be in charge of cleaning as well as replenishing rental units, helping clients with inquiries and worries, making suggestions, and offering directions for tourist attractions.
Have it in mind that employees might additionally participate in promotional and outreach activities including developing promotional initiatives and getting involved with industry conferences and partnerships. In the long run, working at an RV rental company is an exciting and fast-paced encounter that necessitates a blend of administrative, social, and technical expertise.
b. Production Process
There is no production process at Rove on Wheels.
c. Service Procedure
Rove on Wheels’ service procedure is simple and relatively easy in order to provide its clients with a relaxing rental experience.
The initial phase is to explore the company’s website or come to their rental office to choose an ideal RV model, look at availability, and then schedule a booking. Customers have to present an active driver’s license along with proof of insurance, as well as spend the cost of the rental and security deposit.
The Rove on Wheels team will proceed to examine the vehicle thoroughly while offering an in-depth introduction in order to guarantee that the client is acquainted with every one of the characteristics along with security procedures.
When the client is ready to go, they are able to relish the trip while returning the RV at the scheduled date and time, after which the Rove on Wheels squad will perform another inspection and begin processing the security deposit refund.
d. The Supply Chain
Rove on Wheels’ supply chain as an RV rental company is made up of different elements that are critical to ensuring the affordability and high standards of its rental fleet. The company obtains its automobiles from trustworthy producers and dealers, and it maintains and improves its fleet on an ongoing basis to guarantee the best possible standards of reliability and security.
Rove on Wheels additionally collaborates with suppliers of furnishings and other necessities including sleeping arrangements, cooking supplies, and sanitation items in order to provide its clientele with an all-encompassing and pleasant travel experience.
Furthermore, the company cooperates with neighborhood businesses for maintenance, repair, and storage to keep its vehicles in excellent working order and available for rental.
e. Sources of Income
Rove on Wheels makes the majority of its money from RV rentals. The company provides an extensive selection of RV models at reasonable prices, with charges determined by variables including vehicle size, rental duration, as well as peak season demand.
Rove on Wheels might also earn money from ancillary services that involve RV delivery or pickup, pet charges, or late return fees.
Also, have it in mind that clients that need extra safety measures or amenities may be offered additional bundles or insurance choices by the company. For the purpose of earning additional revenue, Rove on Wheels may enter into advertising agreements or affiliate programs, such as advertising nearby sights or trading branded products.
Financial Plan
A. amount needed to start your rv rental business.
The costs of starting Rove on Wheels may differ from $50,000 to $500,000 or even more. Ideally, costs will have to include the acquisition or lease of RVs, insurance coverage, licenses and authorizations, advertising, wages, upkeep and fixing expenditures, taxes, along with additional operating expenses.
b. What are the Costs Involved?
- Purchase or lease of RVs: $10,000 – $22,000
- Insurance: $2000
- Permits and licenses: $1200
- Marketing: $900 – $4000
- Salaries: $12,000 – $26,000
- Maintenance and repair expenses: $490 – $3600
- Taxes: Varies
c. Do You Need to Build a Facility?
Yes, RV rental companies usually need a place to keep their recreational vehicles. The facility could be a business premise or an individual’s property that complies with zoning as well as security regulations and has enough space for RV parking.
The cost of constructing a facility that houses an RV rental company may differ based on elements including facility dimensions, geographic location, building supplies as well as labor expenses. According to industry estimates, the cost may vary from $10,000 to $150,000 or some more.
d. What are the Ongoing Expenses for Running an RV Rental Business?
- Maintenance and repairs
- Salaries and wages
- Rent or mortgage payments
e. What is the Average Salary of your Staff?
- Chief Executive Officer (CEO): $79,850
- Operations Manager: $62,510
- Sales and Marketing Manager: $59,700
- Customer Service Representative: $34,000
- RV Technicians: $41,880
- Delivery and Setup Crew: $28,940
- Administrative Assistant: $33,561
- Bookkeeper: $31,000
- Travel Planner: $46,279
- Part-Time or Seasonal Staff: Varies
f. How Do You Get Funding to Start an RV Rental Business
- Source money from personal savings and sale of personal stocks and properties
- Applying for a loan from your bank/banks
- Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
- Source for soft loans from your family members and friends.
Financial Projection
A. how much should you charge for your product/service.
The exact amount Rove on Wheels’ RV charges for rental facilities will vary depending on a number of variables, such as the kind of RV selected, the length of the rental, as well as the period of year. As a rule of thumb, we intend to charge reasonable prices that demonstrate the high standards of the company’s RVs.
Rove on Wheels will strive to figure out an equitable and economically viable pricing approach that resonates with our target clients while staying economically viable by carrying out market studies and assessing the expenses we incur for operations.
b. Sales Forecast?
- First Fiscal Year (FY1): $250,000
- Second Fiscal Year (FY2): $700,000
- Third Fiscal Year (FY3): $1.3 million
c. Estimated Profit You Will Make a Year?
- First Fiscal Year (FY1): $85,000 (35% of revenue generated)
- Second Fiscal Year (FY2): $240,000 (45% of revenue generated)
- Third Fiscal Year (FY3): $610,000 (55% of revenue generated)
d. Profit Margin of an RV Rental Business
Profit margins in the RV rental industry could vary greatly based on the setting, the seasons, as well as competitors; however, an adequate margin of profit typically ranges from 10% to 30%.
Growth Plan
A. how do you intend to grow and expand.
The particular expansion and development strategy for Rove on Wheels will be determined by a number of variables such as consumer preference, rivals, as well as the resources that are accessible. Nevertheless, one possible strategy for expansion could be to open extra retail locations/offices.
We intend to boost our scope and magnitude by broadening the number of branches in key markets while retaining our devotion to exceptional RVs and excellent customer service. To guarantee long-term achievement and profitable development, deciding to go after growth via opening additional retail retailers/offices will necessitate extensive evaluation and strategic planning.
b. Where do you intend to expand to and why?
- San Francisco, CA.
- San Antonio, TX
- Chicago, IL.
- Atlanta, GA.
- Austin, TX.
- New York, NY.
- Houston, TX.
Based on the results obtained from our in-depth investigation, we feel confident that these municipalities will soon become the basis of the tourism and RV rental industries. Aside from that, we believe they will offer a solid foundation for us to build our brand in the future.
Exit Strategy
We consider family succession as a potential business exit strategy that could be beneficial to our brand. This is mainly because, unlike other business exit strategies, our exit strategy does not necessitate the involvement of third parties. Furthermore, when done correctly, it is one of the simplest and easiest options, and we intend to put thorough strategies in place to guarantee its success.
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RV Park Business Plan Template
Written by Dave Lavinsky
RV Park Business Plan
You’ve come to the right place to create your RV Park business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their RV Parks.
Below is a template to help you create each section of your RV Park business plan.
Executive Summary
Business overview.
Custer’s Best RV Park is a new RV park located in Custer, South Dakota. The company is founded by Charles Carter, an RV park and campground manager who has over ten years of experience working in the RV Park industry. Charles began his career working as a campground attendant and worked his way up to a management position in an RV park and campground near a busy national park. Now that Charles has garnered a positive reputation for exceptional customer service, management, and budgeting skills, he is ready to venture out and establish his own RV park business – Custer’s Best RV Park. Charles is confident that his ability to find and retain highly effective RV park staff, optimize the budget, and build positive customer relationships will quickly garner demand from RVers looking for the best RV park in South Dakota. Charles plans on recruiting a team of experienced and motivated professionals to help manage the day to day complexities of running an RV park – customer service, marketing, leasing and rent collection, budgeting and financial reporting, and cleaning and maintenance.
Custer’s Best RV Park will provide a safe, clean, and welcoming environment for RVers with an extensive list of amenities and services to go along with each rental. Custer’s Best will accommodate both short-term vacationers looking for a convenient spot near Custer’s Park and people seeking a full-time RV living space. Custer’s Best RV Park will be the ultimate choice in Custer for RVers while being the best-priced RV park in town.
Product Offering
The following are the amenities that Custer’s Best RV Park will provide:
- Full-hookup service (electricity, water, sewer, WiFi)
- Clubhouse with full kitchen, fitness room, showers, laundry, library, and game room
- Camp store (food, beverages, toiletries, emergency kits, cleaning supplies, games, etc.)
- Swimming pool
- Children’s playground
- Campground and picnic area
- Guided tours of Custer Park and surrounding areas
Customer Focus
Custer’s Best RV Park will target all campers, tourists, vacationers, seasonal RVers, and full-time RVers looking for the most fun and convenient spot near Custer Park, South Dakota. No matter the customer, Custer’s Best RV Park will deliver the best amenities, services, and all-around welcoming environment.
Management Team
Custer’s Best RV Park will be owned and operated by Charles Carter. He has recruited an experienced marketer, Sally Smith, to be his marketing director and handle all aspects of advertising, marketing, and promotions for the RV park.
Charles Carter is a graduate of the University of South Dakota with a Bachelor’s degree in Business Administration. He has been working at a local RV park and campground for over a decade, beginning as a campground attendant and working his way up to campground manager. Charles’s organizational, problem solving, and communication skills have garnered him a reputation for being an effective manager.
Sally Smith has a Masters degree in Marketing from the University of South Dakota. Charles relies strongly on Sally’s sales and marketing expertise to promote the business and attract new customers. Sally has worked on multiple marketing campaigns for other recreation, campground, and RV Park businesses and will play an essential role in Custer’s Best RV Park management team.
Success Factors
Custer’s Best RV Park will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly qualified team of campground attendants available 24/7 to lead activities and tours, answer questions and provide information on the area, and perform cleanup and maintenance services when needed.
- Comprehensive list of amenities available to ensure campers feel welcome with all the conveniences of home.
- Custer’s Best RV Park offers the best pricing around. Their pricing structure is the most cost effective compared to the competition.
Financial Highlights
Custer’s Best RV Park is seeking $220,000 in debt financing to launch its RV park business. The funding will be dedicated towards purchasing the land and building out the facilities. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, utilities, and marketing costs. The breakout of the funding is below:
- Purchase of the land: $90,000
- Build-out of the RV Park, campground, store, and clubhouse: $100,000
- Three months of overhead expenses (payroll, utilities): $110,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph below outlines the pro forma financial projections for Custer’s Best RV Park.
Company Overview
Who is custer’s best rv park.
Custer’s Best RV Park is a newly established full-hookup RV park and campground in Custer, South Dakota. Custer State Park, a 71,000 acre expanse of spectacular terrain packed with recreational activities such as hiking, mountain biking, and wildlife tours. Custer’s Best RV Park will provide the most amenities for the price, making it the first choice for campers in the area. Custer’s Best will provide a comprehensive list of amenities and services to suit both short-term vacationers and full-time RVers. Their full-service approach includes a comprehensive set of property oversight, maintenance, guided tours, as well as a clubhouse with laundry facilities, fitness center, showers, kitchen, and game room for campers to enjoy.
Custer’s Best RV Park will be able to manage camper onboarding, site maintenance, guided tours, leasing and rent collection for long-term campers, and campground activities. The team of professionals are highly qualified and experienced in RV park and campground management. Custer’s Best RV Park makes RV life convenient and enjoyable for its campers.
Custer’s Best RV Park History
Custer’s Best is owned and operated by Charles Carter, a former campground manager who has a Business Administration degree from the University of South Dakota. Charles has worked for an RV park and campground near a busy national park for over ten years. Charles’s tenure with the RV park and campground has given him the skills and knowledge required to start his own company. Charles has worked hard to grow a large network of industry professionals and RV enthusiasts ready to help promote the business to their friends and families.
Since incorporation, Custer’s Best RV Park has achieved the following milestones:
- Registered Custer’s Best RV Park, LLC to transact business in the state of South Dakota.
- Has a land contract in place to purchase the property from the current owner.
- Reached out to numerous contacts to include RV park attendants, managers, and RV enthusiasts to spread the word about the upcoming RV park in Custer.
- Began recruiting a staff of campground attendants, maintenance technicians, and security personnel to work at Custer’s Best RV Park.
Custer’s Best RV Park Services
- Full hookups (electricity, water, sewer, WiFi)
Industry Analysis
The U.S. Campground and RV Parks industry is an estimated $6.2B market. Camping is a popular recreation activity in the United States, with approximately 41M Americans participating in this recreation activity each year. According to the Recreational Vehicle Industry Association there are approximately 30M RV enthusiasts, including RV renters, across the country, creating a niche market with an enthusiastic target audience. The RV industry continues to post increasing sales numbers year over year. According to Dun & Bradstreet, there are over 4,000 RV parks across the nation, with combined annual revenue of $2.8B.
The U.S. RV Parks and Campground industry demand drivers include personal income and tourist travel. The industry is highly fragmented with 50 of the largest companies accounting for only around 30% of all industry revenue. Most RV park operators are privately held, single-location enterprises.
Profitability depends heavily on the occupancy rate and the effectiveness of the marketing campaign. RV park operators can gain a competitive advantage by offering diverse site offerings and amenities or by operating in desirable locations.
Customer Analysis
Demographic profile of target market.
Custer’s Best RV Park will target all campers, tourists, vacationers, and full-time RVers looking for the most fun and convenient spot near Custer Park, South Dakota. No matter the customer, Custer’s Best RV Park will deliver the best amenities, services, and all-around welcoming environment.
The precise demographics for Custer, South Dakota are:
Customer Segmentation
Custer’s Best will primarily target the following customer profiles:
- In-state campers/vacationers looking for a place to stay near Custer State Park.
- Out-of-state tourists/vacationers looking for a place to stay near Custer State Park.
- RV enthusiasts/people looking for a semi-permanent/permanent residence for their RV.
- Seasonal RVers/people looking for a place to stay in Custer, South Dakota on a seasonal basis.
Competitive Analysis
Direct and indirect competitors.
Custer’s Best RV Park will face competition from other companies with similar business profiles. A description of each competitor company is below.
Kuster Kamps RV Park
Kuster Kamps RV Park provides full-hookup RV rentals. Located in Custer, the Kuster Kamps RV Park is able to provide a convenient location for campers headed to Custer State Park. Their list of services include full-hookup accommodations including utilities, water, sewer, and internet, a picnic area and campground, and a swimming pool.
Kuster Kamps’ promise is to deliver excellent customer service, amenities, and maintenance of the RV park and campground. The team of experienced RV park management professionals assures the park is run smoothly, freeing the campers to enjoy their stay.
SD RV Park is an Custer-based RV park that provides outstanding RV rental accommodations for campers. SD RV Park provides comprehensive services and amenities including full-hookup rental space, a communal kitchen and laundry, and campground activities scheduled throughout the week in peak seasons. The owners of SD RV Park are RV park and campground management professionals so they understand how an RV park should be operated, maintained, and marketed. Campers can depend on their 24/7 staff availability for any maintenance issues that come up. By choosing SD RV Park, RVers can rest assured they will have a relaxing vacation.
RecVe’s Park & Campground
RecVe’s Park & Campground is a trusted Custer RV park and campground that provides superior service to RV enthusiasts looking for both short-and-long-term rental space. They are able to provide a one-stop shop for campers in the Custer State Park recreation area. RecVe’s Park & Campground offers full-hookup rental spaces, a camp market, and guided tours. RecVe’s is the premium choice for full-time RVers with exceptional customer service and round the clock maintenance available.
Competitive Advantage
Custer’s Best RV Park will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly qualified team of camp attendants onsite 24/7 to provide visitor information, emergency maintenance, and security.
- Comprehensive menu of services and amenities that provides campers with the greatest flexibility and most options as compared to the competition.
Marketing Plan
Brand & value proposition.
Custer’s Best RV Park will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled campground attendants that provide a comprehensive set of services (guided tours, campground activities, maintenance, cleanup, and round the clock security).
- Unbeatable pricing to its customers – Custer’s Best RV Park offers tiered pricing packages as well as a la carte options to give campers the flexibility to pay for what they need, and skip what they don’t.
Promotions Strategy
The promotions strategy for Custer’s Best RV Park is as follows:
Word of Mouth/Referrals
Charles Carter has built up an extensive list of contacts over the years by providing exceptional RV park management and customer service. Many of these contacts have communicated to Charles that they kept renewing their contracts because they were happy with the service he was providing. Once Charles advised them he was leaving to open his own RV park, they signed commitments to follow him to the new park and help spread the word of Custer’s Best RV Park.
Professional Associations and Networking
Custer’s Best RV Park will become a member of professional associations such as the South Dakota Campground Owners Association and the National Association of RV Parks & Campground (ARVC). They will focus their networking efforts on expanding their customer network.
Print Advertising
Custer’s Best RV Park will invest in professionally designed print ads to display in programs or flyers at industry networking events and in local newspapers and magazines.
Website/SEO Marketing
Custer’s Best RV Park will utilize their in-house marketing director that designed their print ads to also design their website. The website will be well organized, informative, and list all their services and amenities that Custer’s Best is able to provide. The marketing director will also manage Custer’s Best’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Custer RV park” or “RV park near me”, Custer’s Best RV Park will be listed at the top of the search results.
Social Media Marketing
The marketing director will manage all of Custer’s Best RV Park’s social media marketing efforts including maintaining an active presence on various social media platforms and working with brand ambassadors and influencers to promote the RV park on their social media channels.
The pricing of Custer’s Best RV Park will be moderate with more flexibility in pricing packages than their competitors so customers feel they receive value when purchasing their services.
Operations Plan
The following will be the operations plan for Custer’s Best RV Park.
Operation Functions:
- Charles Carter will be the Owner and Campground Manager. He will oversee all staff and manage customer relations. Charles has spent the past year recruiting the following staff:
- Sally Smith – Marketing Director who will execute on all marketing efforts for Custer’s Best.
- Jill Miller – Staff Accountant will provide all client accounting, tax payments, and monthly financial reporting.
- Marty Johnson – Maintenance Director who will provide all maintenance for the RV park.
- Joe Williams – Head Camp Attendant who will supervise all seasonal and hourly camp attendants for the RV park.
Milestones:
Custer’s Best RV Park will have the following milestones complete in the next six months.
7/1/2022 – Finalize contract to purchase the land.
7/15/2022 – Finalize personnel and staff employment contracts.
8/1/2022 – Begin build-out of Custer’s Best RV Park.
8/15/2022 – Begin marketing campaign and networking at industry events.
8/22/2022 – Finalize rental contracts with first customers.
9/1/2022 – Custer’s Best RV Park opens for business.
Financial Plan
Key revenue & costs.
The revenue drivers for Custer’s Best RV Park are the RV park rental fees they will charge to the campers for renting a space. Custer’s Best will offer multiple pricing options to accommodate short-term and long-term rentals. Additional fees for RV park services and amenities will be charged on a per-use basis. Alternatively, customers may pay for a per-stay or a per-season pass to secure access to all amenities.
The cost drivers will be the overhead costs required in order to staff the RV park. The expenses will be the payroll cost, utilities, supplies, and marketing materials.
Funding Requirements and Use of Funds
- Build-out of the RV Park, campground, store, and clubhouse: $100,000
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of occupied rentals per day: 10
- Average fees per month: $40,000
- Average expenses per year: $330,000
Financial Projections
Income statement, balance sheet, cash flow statement, rv park business plan faqs, what is an rv park business plan.
An RV Park business plan is a plan to start and/or grow your RV park. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your RV park business plan using our RV Park Business Plan Template here .
What are the Main Types of RV Parks?
There are a number of different kinds of trucking companies, some examples include: Traditional RV Parks and Glamping Resorts.
How Do You Get Funding for Your RV Park Business Plan?
RV parks are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for an RV Park business plan or business plan for campground.
What are the Steps To Start a RV Park Business?
Starting a RV park business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A RV Park Business Plan - The first step in starting a business is to create a detailed RV park business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your RV park business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your RV park business is in compliance with local laws.
3. Register Your RV Park Business - Once you have chosen a legal structure, the next step is to register your RV park business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your RV park business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary RV Park Equipment & Supplies - In order to start your RV park business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your RV park business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful RV park business:
- How to Start an RV Park Business
Where can I get an RV Park Business Plan PDF?
You can download our free RV Park business plan template PDF here . This is an RV Park business plan template you can use in PDF format.
RV Park Business Plan Template
Written by Dave Lavinsky
Over the past 20+ years, we have helped over 2,500 entrepreneurs and business owners create business plans to start and grow their RV parks. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an RV park business plan template step-by-step so you can create your plan today.
Download our Ultimate RV Park Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your RV park as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start an RV park or grow your existing RV park you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your RV park in order to improve your chances of success. Your RV park business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for RV Parks
With regards to funding, the main sources of funding for an RV park are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for an RV park is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund an RV park.
Finish Your Business Plan Today!
Your business plan should include 10 sections as follows:
Executive Summary
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of RV park business you are operating and the status; for example, are you a startup, do you have an RV park that you would like to grow, or are you operating a chain of RV parks.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the RV park industry. Discuss the type of RV park you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
Company Analysis
In your company analysis, you will detail the type of RV park you are operating.
For example, you might operate one of the following types:
- Traditional RV Park : this type of RV park can be a small campground with a few dozen sites, a resort with hundreds of sites, and everything in between. It can also provide just the basics (electricity and fresh water), or full-service options such as sewer hookups.
- Glamping Resorts : this type of RV park offers a range of amenities, such as spas and restaurants and golf, as well as luxury RVs for rent.
In addition to explaining the type of RV park you operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Industry Analysis
In your industry analysis, you need to provide an overview of the RV park business.
While this may seem unnecessary, it serves multiple purposes.
First, researching the RV park industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards glamping, it would be helpful to ensure your plan calls for plenty of amenities and/or high-end activities.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your RV park business plan:
- How big is the RV park business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your RV park. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
Customer Analysis
The customer analysis section of your RV park business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: young families, couples, retirees, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of RV park you operate. Clearly young families would want a different atmosphere, pricing and amenities, and would respond to different marketing promotions than retirees.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Competitive Analysis
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other RV parks.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes hotels, motels, tent campgrounds and hostels. You need to mention such competition to show you understand that not everyone who owns an RV uses an RV park each time they travel.
With regards to direct competition, you want to detail the other RV parks with which you compete. Most likely, your direct competitors will be RV parks located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What products do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them (or research reviews online).
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide superior amenities?
- Will you provide amenities that your competitors don’t offer?
- Will you make it easier or faster for customers to reserve a site?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an RV park business plan, your marketing plan should include the following:
Product : in the product section you should reiterate the type of RV park that you documented in your Company Analysis. Then, detail the specific amenities you will be offering. For example, in addition to water hookups, will you offer sewer hookups, or a convenience store, etc.?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the types of sites you offer and their prices.
Place : Place refers to the location of your RV park. Document your location and mention how the location will impact your success. For example, is your RV park located next to a heavily trafficked national park, or tourist attraction, etc. Discuss how your location might provide a steady stream of customers.
Promotions : the final part of your RV park marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media advertising
- Partnerships with local organizations (e.g., amusement park ticket holders get a discount on an RV site)
- Local radio advertising
- Banner ads at local venues
Operations Plan
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your RV park such as serving customers, procuring supplies, keeping the store clean, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.
Management Team
To demonstrate your RV park’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in the RV park business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in RV parks and/or successfully running retail and small businesses.
Financial Plan
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 50 customers per week or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your RV park, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an RV park:
- Location build-out including design fees, construction, etc.
- Cost of maintaining an adequate amount of supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your park design blueprint or location lease.
RV Park Business Plan Summary
Putting together a business plan for your RV park is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the RV park business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful RV park.
Don’t you wish there was a faster, easier way to finish your RV Park business plan?
OR, Let Us Develop Your Plan For You
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.
RV Park Business Plan FAQs
What is the easiest way to complete my rv park business plan.
Growthink's Ultimate RV Park Business Plan Template allows you to quickly and easily complete your RV Park Business Plan.
What is the Goal of a Business Plan's Executive Summary?
Where can i download an rv park business plan pdf.
You can download our free RV Park business plan template PDF here . This is a sample RV Park business plan template you can use in PDF format.
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success. Click here to see how a Growthink business plan writer can create your business plan for you.
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RV Park Business Plan
With the lack of space in big cities mobile homes and on-the-go ways of living are increasing. Not just that, many people also consider recreational vehicles a budget-friendly and comfortable way of traveling.
With more and more amenities coming up RV parks are not just huge camping sites but entire ecosystems in themselves.
And if you like the idea of managing such sites, conducting larger-than-life activities, and being in large open spaces, then an RV park business might be the right choice for you.
Industry Overview
The RV park industry stood at a value of 8.7 billion dollars in 2020 and would continue to grow at a rapid pace.
Moreover, successful RV park owners make up to $50,000 to $90,000 a year.
And these numbers would grow as the number of people who have switched to this style of living and traveling continues to grow each year.
Most of the growth in this sector has come from people aged under 34 who have adopted this style of traveling due to free Wi-Fi and music festivals at the camping sites.
Apart from that, the industry is yet to reach its full potential. Because people over the age of 55 are gradually adopting this way of traveling, the industry’s growth would become faster as this age group has more money to spend and more time at hand due to retirement.
So, now is the time as good as any to get started with your RV park business.
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Some Aspects to Consider Before Starting an RV Park Business.
Pick a location and figure out land use requirements.
A good location is especially crucial for an RV park. The location should be accessible to your target audience, convenient to find, in a city or region which receives a lot of tourists, etc.
Also, figure out the size of your RV park and land requirements for the number of spots you want to offer, places for additional activities, etc.
Make a list of additional activities that you’ll conduct
RV parks have become a major attraction due to the number of activities and amenities they offer. Modern-day RV parks are a lot like resorts. But you can choose what you want to offer based on your target audience’s preferences.
From art and music festivals to clubs, RV parks have something to attract everyone from boomers to Gen Z.
Identify your target audience
As different segments of the demographic prefer different services and amenities, RV parks should figure out which customer group they want to cater to and plan their entire business around it.
Identifying your target audience is crucial for everything from picking your location to making your marketing plan.
Get the necessary licenses and permits
From land acquisition papers to construction papers, there are a bunch of legalities that you should figure out before you start planning your business.
Make a checklist of all the legal documents and the right time to get each one to make your task easier.
Sources of Funding for an RV Park Business
One of the majors of writing a business plan is to get funding. Here are a few sources of funding for an RV park business:
Banks require a proper business plan in which they can put their confidence to provide you with funds.
Angel Investors
They will fund your business in exchange for equity or as a loan. Which makes a business plan necessary in either case to act as evidence of your strategies.
Write Your Business Plan
If you are planning to start a new RV Park business, the first thing you will need is a business plan. Use our sample RV Park Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new RV park business, spend as much time as you can reading through some examples of Entertainment & Recreation related Business Plans .
Reading sample business plans will give you a good idea of what you’re aiming for. It will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample RV Park Business Plan for you to get a good idea about how perfect an RV Park business plan should look and what details you will need to include in your stunning business plan.
RV Park Business Plan Outline
This is the standard RV Park business plan outline, which will cover all important sections that you should include in your business plan.
- Mission Statement
- Vision Statement
- Customer Focus
- Management Team
- Success Factors
- 3 Year profit forecast
- Products and Services
- Industry Analysis
- Market Trends
- Target Market
- Demographic Profile of Target Market
- Customer Segmentation
- Sales Strategy
- Public Relations
- Advertising
- Ongoing Customer Communications
- Pre-Opening Events
- Pricing Strategy
- Service Functions
- Administrative Functions
- Important Assumptions
- Brake-even Analysis
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with Upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your RV Park business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.
The Quickest Way to turn a Business Idea into a Business Plan
Fill-in-the-blanks and automatic financials make it easy.
Download a sample RV Park business plan
Need help writing your business plan from scratch? Here you go; download our free RV Park business plan pdf to start.
It’s a modern business plan template specifically designed for your RV Park business. Use the example business plan as a guide for writing your own.
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How to Start a RV Rental Business with Cost, Profit
The RV rental business is a very profitable business. If you own an RV that is lying idle, you can start the business with almost no investment. However, even if you don’t own an RV, you can buy or lease one and start the business.
What is RV Rental Business?
RV stands for recreational vehicle . Renting an RV is a common practice among travelers, who prefer a home-like feeling as well as amenities while traveling. It is also popular among campers or for family vacations.
The demand for RVs has seen a rise in the last few years. If you own this type of vehicle, renting it out can fetch you good profit returns.
Is RV Rental Business Lucrative?
RV rental business makes a good profit. The amount depends on the number of RVs you are putting on rent. The amount of profit may range between $10,000-60,000 per year.
According to IBISWorld, the RV rental business is showing a stable growth trend for the last 5 years and it will continue to grow.
Statista also predicts a steady rise in the revenues earned from the RV rental business.
With the increasing popularity of road trips, the demand for RV rental has also increased. Therefore, this is your opportunity to earn good profits from the business.
Keep in mind, you need to do good research, know several things and make preparations for your RV rental business to be successful as well as hassle-free.
RV Rental Business Plan Guide for Beginners
Here are the 10 steps to start a profitable RV rental company:
1. Find a Suitable Location
Choosing the right location is a key factor in the RV rental business. Don’t start your business near popular camping spots because there are already many players there. Instead, go for smaller towns or cities.
It is a good idea to start a business in your home town. This is primarily because you must be having certain personal contacts as well as acquaintances there. However, you have to see the demand for RV rentals there.
Whichever location you choose, remember one thing. Your RV must be easily accessible to your customers. That gives you great mileage.
2. Understand the Market
Knowing the market and the demand for your business needs a lot of research on your part. You have to know the demand for RV rental services nearby. Furthermore, you have to take into account the competitors in the market.
Compare the rates of running rental businesses. Keep in mind; it will be better for you to start at a lower rate. However, don’t make the rates too low. That will question your credibility and service standard.
Research the amenities offered in the RVs. Try to give some value additions to the amenities you offer. That will set you apart.
There are different models and types of RV according to the number of passengers to accommodate. Study the type which has the greatest demand in your area.
Different agencies take your RV and put them for rent. Consider this option and the viability in your case. That is, whether you should start your business independently or through any agency.
3. Create an RV Rental Business Plan
Make a thorough and exhaustive business plan for your RV rental business. Work on every minute detail along with the projections in your business.
Your business plan must have the details about:
- Funds needed to start the business
- Source of fund
- Expense heads
- Pricing plan
- Projected Profit
- Marketing Plans
Take the help of experts in preparing the business plan. The experts include finance experts, bankers, tourism professionals, and if possible the owner of an RV rental business.
4. Name your RV Rental Business
After preparing the business plan, you have to finalize the name of your business. Use your thought and creativity in choosing the name. Take the opinions of others. Finally, choose a simple but meaningful name.
In addition, Get a website domain name for your business. Then launch your website because the website helps to make your name popular along with getting business online. Also, get a trademark on your business name.
Learn More: How to Name Your Business
5. Register Your Business
After the name is finalized, you have to register your business. There are different forms of business organizations. Check with the concerned authorities of your state or country.
For example, if you are living in the United States, forming an LLC will be the good best option for your RV rental business as it protects your personal assets from business ones.
6. License, Permits, and Taxes
Register your RV rental business for the necessary license and permits needed both at the federal as well as state levels. The license fees may be different in each state.
Your RV rental business also needs to pay the taxes applicable to it. As an example, in the United States, it is a must to have an EIN for running a business.
7. Buy a Business Insurance
Since your RVs will run on different roads and be used by your clients, there are many risk factors. Therefore insurance is very essential for your business. You will need several kinds of insurance for the safety and security of your business.
Your RV rental business will need insurance coverages like:
- General Liability Insurance
- Worker’s Compensation Insurance
- Commercial Property Insurance
- Product Liability Insurance
- Commercial Umbrella Insurance
8. Open a Business Bank Account
Open a bank account in the name of your RV rental business and also get a business credit card for the sake of convenience.
Seek the assistance of an experienced accountant for maintaining the accounts of the business.
9. Calculate the Expenses
The main heads of expenditure in your business include the expenditure on maintaining the RV, repair of various parts, licenses, permits, taxes, insurance premiums, salaries, making and maintaining the various amenities inside the RVs, advertising, publicity, etc.
Pay special attention to the interiors of the RVs. Make it beautifully decorated with all the amenities needed for luxurious living. It should be well-furnished with good-looking and convenient furniture. Use good bedspreads, linens, towels, toilet accessories, and high-quality utensils and tableware.
Remember, the interior of the RV should be impressive as well as luxurious, much like a suit of a renowned hotel.
10. Develop a Marketing Plan
The profitability, as well as the expansion of your RV rental business, depends largely on your marketing strategies . Since RV rental is a popular business, you have to chalk a well-planned marketing strategy.
a) Advertising in Portals
There are various online portals that give information about RV rental services. People consult them before booking an RV. Therefore, it is advisable to list your business in such portals and get noticed. Regular advertisements in the portals will make you popular and help you to get business.
b) Other Advertisements
Along with the online portals, advertise your RV rental business in newspapers, radio, and TV. Also use banners, hoardings, and posters at prominent places. Distribute flyers and pamphlets at residential areas and travel and tourism offices.
c) Create an Online Presence
Websites are very important for your publicity and business growth. Many people will know about your business through the website. Design a good, user-friendly website with good pictures along with interviews of satisfied customers. Online booking, as well as payment options, should be there.
d) Use Social Media
Social networking platforms are very effective tools for publicity. Create pages in the name of your RV rental business on popular social media like Facebook, Instagram, Twitter, and others.
Update the pages and invite the opinions of people on various issues including the facilities offered by your RV. Try to implement the suggestions as much as possible.
e) Personal Visits
Personal visits to different corporate and tourism offices are also a good marketing drive. Distribute colorful brochures on your RV rental business to key persons. Keep regular contact with them.
RV is also used in different social gatherings or festivals along with sports events. People prefer them for guest accommodation over hotels. Therefore, personal contacts will earn you more business.
There are different types of tour operators and travel clubs in the towns or states. You have to visit them regularly. This will help to get more clients and thereby expand your business.
f) Sponsorship
Sponsorship often helps in publicity. You can go to sponsoring travel-related events like a seminar, exhibitions, etc.
These are the necessary steps you should follow in starting your RV rental business. Even after this, you must be having some questions about the business. Let us see them.
Frequently Asked Questions on RV Rental Business
How much does it cost to start an rv rental business.
In the first place, the cost of running this business varies according to the number of RVs you have. However, if you start with a used RV the start-up cost may be approximately $ 30000-$35000.
What is the Profit Margin in RV Rental Business?
The profit margin depends on the type of vehicle and the number of passengers. On average the RV rental charges are between $100-$300 per night. On average, the yearly income of an owner of RVshare brings is around $20,000.
Should I buy a New RV for business?
It is not necessary to buy a new RV for business. You can buy a used vehicle and do some repairs as well as a facelift. That will cost you much lesser than a new RV.
What are the Popular RVs?
The popular RVs include Motorhomes (Class A, B, and C), Fifth Wheel, Travel Trailers, Camper Trailers, Campervans, Pop-up Campers, Toy Haulers, etc.
These are the important points about the RV rental business. Since it has an increasing demand for traveling along with festivals or events, you will be able to get good returns on your investment.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their businesses.
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Rosatom diversifies into energy storage with newly incorporated Renera
In yet another diversification of its clean energy business, Russian state atomic energy corporation, Rosatom, has opened an energy storage business unit based around lithium-ion batteries. The company, which is also Russia’s biggest electricity provider, has announced that it has completed the incorporation of its energy storage business development arm called Renera.
A Rosatom statement said that the newly incorporated Renera, besides the electric vehicle (EV) segment, will develop and trade module type lithium-ion traction batteries for electric vehicles, as well as energy storage systems for emergency power supply, renewable energy resources and smoothing load demand on the grid.
Renera was previously Cathode Materials, a company launched by Rosatom’s nuclear fuel supply arm TVEL. Renera’s current project portfolio includes over 120 ongoing and completed projects for supply of lithium-ion energy storage devices — contracts previously concluded by TVEL Fuel Company subsidiaries Cathode Materials, NPO Centrotech and Novosibirsk Chemical Concentrates Plant, the statement said.
Rosatom, which is already operating in the renewable energy sector through its wind power unit NovaWind, described lithium-ion batteries as “one of the most cost-efficient and technologically advanced solutions for intralogistics,” as well as “explosion-proof, environmentally-friendly” modules which are sealed and do not require maintenance.
“Module type lithium-ion traction batteries are widely in demand in the electric vehicle market and are one of the most cost-efficient and technologically advanced solutions for intralogistics. These batteries can be recharged at any time and do not require a separate charging room. Lithium-ion batteries are sealed and do not require maintenance, they are also explosion-proof, environmentally friendly and operate over a wide temperature range,” the statement said.
“We offer a comprehensive solution for our customers, from a feasibility study to installation of equipment and post-warranty service. We are committed to comply with individual customer requirements for technical specifications and offer flexible commercial conditions. We already accomplish projects under a rent scheme and plan to start leasing and life cycle agreements”, Renera Director General Emin Askerov said.
Rosatom is the eqipment supplier and technical consultant for the Kudankulam Nuclear Power Project (KNPP) in India’s Tamil Nadu state, the first two units of which have already been commissioned. Construction work has started on building 4 additional units of 1,000 MW each at the KNPP. Rosatom is also similarly collaborating in the construction of Bangladesh’s first NPP at Rooppur, which will have two Generation III+ VVER-1200 reactor units to provide a total capacity of 2,400 MW.
Meanwhile, TVEL, which provides nuclear fuel for more than 70 power plants worldwide, announced last week that, having mastered a unique technology for the production of magnets for wind turbine generators, the company has started production in Russia of rare-earth magnets for wind power generation.
“The first sets of magnets have been manufactured and shipped to the customer. In total, the contract between Elemash Magnit (an enterprise of TVEL Fuel Company of Rosatom in Elektrostal, Moscow region) and Red Wind BV (a joint venture of NovaWind and the Dutch company Lagerwey) foresees manufacturing and supply over 200 sets of magnets. One set is designed to produce one power generator”, a TVEL statement said.
“The project includes gradual localization of magnets manufacturing in Russia, decreasing dependence on imports. In this regard, our company does have the relevant research and technological expertise for creation of Russia’s first large-scale full cycle production of permanent rare-earth magnets,” said TVEL President Natalia Nikipelova.
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