So you've jumped on the escape room bandwagon. You're ready to lock yourself in and throw away the key (so to speak). You love the concept, and want to pursue it as a business opportunity. You’re not alone!In fact, from the outset of 2010, the number of permanent escape rooms sites worldwide has gone from zero to 2,670. And the successful operations do quite well—one particular room in Dallas generates monthly revenues of $70,000 (although any experienced escape room operator will tell you, success only comes with a truckload of hard work, long hours, and growing pains).“For some people, the thought of doing a lot of research and writing a 15+-page document causes horrifying flashbacks of being in school, so this is a good test of your resolve...remember that this is a critical step, and you have to complete it before you can do anything else.”— Heist Escape PartyOriginally modeled after the puzzle rooms in role playing video games, this entertainment phenomenon will continue to face new challenges as the industry grows—regulations, for example, and increased competition from big-budget franchises and virtual escape rooms (the new kids on the block). One thing is clear, though: Live-scenario games are a hot trend, and skyrocketing in popularity. From corporate teams, to bachelor/bachelorette parties, to family reunions, to casual group date nights, the audience is broad, and the demand is promising.But first things first: If you're really serious about doing it right, putting together a detailed business plan is utterly necessary. Even with plenty of startup capital, this exercise goes far beyond having documentation to show potential investors. A great business plan allows you to visualize how your business will operate before it goes live; aligns partners on objectives; fills in gaps you may have otherwise missed; raises critical questions; and much more. Not sure where to start? Here are a few options to help get you started:

1. Purchase Templates Specifically Created for Escape Rooms

The resources here aren’t particularly bountiful, given the relative infancy of the industry, but pre-made, for-sale templates do exist. Black Box Business Plans provides tailored business plans for a couple dozen models, including escape rooms. They also offer optional add-on features such as Excel SureCash if you need help calculating finances, or a pitch deck and helpful guidelines for raising capital if you plan on working with investors. Alternatively, for one lump sum, business management and consulting firm E.C. & Associates provides a comprehensive escape room business plan package "written at a doctoral level and investor-ready."

2. Take Advantage of Free Tools and Templates

If you feel as though you can work with something less tailored to escape rooms, there's a number of generalized templates and tools on the Internet (the time consuming part is choosing which one to use). SCORE is a nonprofit “dedicated to helping small businesses get off the ground, grow, and achieve their goals through education and mentorship,” and they offer a comprehensive generic template. Getting in touch with them will connect you with professionals who are eager to help you plan your business. The U.S. Small Business Administration also provides a helpful free template tool.

3. Work With a Consultant or Professional Business Plan Writing Service

Platforms like Thumbtack and Upwork help connect you with contractors and freelancers who specialize in the service you're looking for, such as business plan writing and consulting.Don't hedge your bets if you plan on working with a consultant. As venture coach Stever Robbins advises, “If you really want to hire a consultant, keep in mind that it often pays to spend extra to get the very best. When you're paying for someone's knowledge, you want assurance that what the person has to offer is high-quality.” When working with freelancers, make sure to ink a written agreement detailing the deliverables, timetable and payment schedule.Professional business plan writing services give you a polished and investor-ready product in a shorter amount of time. Consider comparing quotes from platforms like MasterPlans vs. Thumbtack and Upwork.You can also seek out a professional business plan writing service. Companies like MasterPlans, AcePlans or LivePlan match you with a hand-picked team or individual to bring your business plan to fruition. Think of it as hiring a consultant—without having to go through the vetting process yourself. LivePlan and AcePlans also promise added incentives such as graphic design work and a money-back guarantee. While it will probably cost more out of pocket, outsourcing the assembly of your escape room business plan will produce a highly polished product in a relatively short period of time—something to consider if you plan on pitching to investors.

Professional business plan writing services give you a polished and investor-ready product in a shorter amount of time

4. Or...Dig in and DIY!

Putting together your own escape room business plan from scratch isn't as overwhelming as it sounds. In fact, taking the DIY route (and doing it right) will give you an intrinsic handle on your own roadmap. You'll know the game plan like the back of your hand—and, as a result—might get more out of it.While there's no single correct way to write a business plan, there is universal consensus on the importance the following items:

• Have several versions of your business plan, each tailored for specific audiences, depending on who is going to be using it and looking at it.
• Your plan is a living document: Review it frequently, and compare it against what actually happened. Revise accordingly.
• Be realistic about financial estimates and projections
• Cite your sources. Business plans include market research and projections. Be sure to attribute the source of your information so as to maintain the credibility of your plan.
• Think about presentation: If you don't like looking at it, chances are you're not going to actually use it, and investors aren't going to be impressed either. Remember to take formatting into consideration. Make your business plan nice to look at, easy to digest and read.

Ready to take a stab at putting together your own escape room business plan? Here are six core components to include:

• Executive Summary: This is a brief, overarching synopsis of your business plan. While it will be the first thing to follow your title page, you may want to save writing your summary for last, when every detail about your escape room is still swirling in your head. This is your first impression, so make it count.
• Business Description: Here you’ll include a short description of your industry as a whole, including new developments and outlook. As escape rooms are relatively new as a business model, you will be talking about recent and instantaneous growth in popularity.
• Market Strategies: Here’s where a trip to MarketWatch and some light statistical analysis comes in handy. This is where you define your target market and detail how you plan on finding growth within your designated market.
• Competitive Analysis: This is the space where you analyze your business competition. This can mean other escape room businesses or other activity operations in your area.
• Operations and Management Plan: This section will cover the day-to-day aspects of your escape plan business, where it’s located, and the people and equipment you’ll need to run it, and everything nitty gritty.
• Financial Factors: Normally tucked in the back of a business plan, this section is paramount when showing your business plan to investors. Here you’ll include your personal finances, project expenses, and anticipated cash flow.

TIP: When working on the operations and management component of your plan, don't forget that choosing the right online booking solution is critical so the success of your escape room. An online booking system like Peek Pro lets you view upcoming reservations, run revenue reports, manage automated email communications with your customers and room masters, accept bookings 24/7, and a whole lot more.

Industry leaders are predicting an estimated 25% of campgrounds and RV parks will change ownership in the next five years. If selling is part of your retirement plan—or you're entertaining the possibility for the future—taking certain actions now can help maximize the return on your investment when it's time to cash in.Embracing modern technology like the hotel and airline industry is a quick and affordable way to stay relevant, and up the value of your business. Even if you don't plan on selling in the next several years, having the right technical tools now will capture more data. And the more data you have, the more your park will be worth. Don't wait until the last minute!Here are seven ways to increase the value of your campground, RV park or vacation cabins, and fetch top dollar when you're ready to sell:

1. Capture the Next Generation of Travelers: Millennials

“If an RV park doesn’t have online reservations on its website, I just go to the next one.”— Laura, millennial RVer from Travel Explore UncoverCamping has become more popular than ever over the last decade, especially with one particular age group: Of the more than 1 million households in North America that started camping last year, 44 percent were millennials. And if we know one thing about this demographic born between 1977 and 1995, they love technology like raccoons love unsecured groceries at campsites. The vast majority, or 90 percent of millennials, reserve travel experiences online.“Millennial travelers demand instant gratification, accuracy in booking and one-stop shopping, all from their handheld device. These digital natives also compare their travel booking experience to all their other tech experiences with expectations aligned accordingly...They want the speed and convenience of an online purchase. ”— RV BusinessAs a result of this trend, more and more campgrounds and RV parks are appealing to tech-savvy travelers by investing in mobile booking, complimentary WiFi, and satellite TV.

How:

Keep your business competitive and on-par with industry trends by implementing an intuitive, mobile-friendly reservation system.

2. Increase Reservations

Mobile reservations for RV parks surged by 150% in 2013-2014 alone, according to the National Association of RV Parks & Campgrounds. By giving visitors the option to reserve online 24/7, you'll scoop up more guests who want to make plans on their own time, whether it's on the road or on the trail. If you don't offer at-a-glance calendaring and real-time availability on your website—but the competition down the road does—there's a good chance you're missing out on business. And remember: The more reservations you have, the higher your business is going to be valued at. Tip: If maintaining that personal connection from the get-go is important to you, perfect! With an online booking system like Peek Pro, you can opt to accept pending reservations online, but still require a phone call to verbally seal the deal and confirm the reservation before the credit is used.

How:

Give visitors the option to reserve online 24/7.

3. Open Up New Revenue Streams: Equipment Add-Ons & More

When it comes to campgrounds, RV parks and/or cabins, there's a forest of possibilities for opening up new revenue streams!

How:

ADD-ONS & RENTALSAnother interesting tidbit: 52 percent of campers between the ages of 18 and 34 years did online research to buy items for their camping trip before purchasing the items in-store, according to a preparation and purchase report by the Outdoor Foundation. Your takeaway? Not everyone is a Bear Grylls type, or has the space to store sleeping cots and Coleman stoves. If you're already offering rentals or operate an onsite general store, step up your game (and profits!) by up-selling campers when they're reserving online.With a system like Peek Pro, you could sell a wide array of add-ons or rentals (folding chairs, air mattresses, extra roasting forks, lanterns, tents, etc.) directly in the checkout flow, and have those items ready for pickup when folks check in. Rather than making an extra stop at REI or Target, guests enjoy the convenience of a one-stop shopping experience, and you reap the benefits.SEASONAL EVENTSDo you host seasonal events like luaus, bbq's or guided full moon hikes that require pre-registration? A great online reservation system should let you manage all of the above from a single platform: Bookings, rentals and events.FLEXIBLE PRICINGWith an online reservation system, you can easily set dynamic pricing schemes that automatically increase when demand is high (weekends, holidays, popular sites) and decrease during times of year when demand is low.

4. Boost Your Brand and Professional Appearance

Let's talk about the all-important website: As the public "face" of your company, it's the first impression people get. Why not make it a great one? Having a built-in reservation system—one that's intuitive and delivers an easy user experience—enhances the appearance of your website, and thus increases the perceived value of your park. It also sends a visible message to potential buyers that you're business-savvy, customer-oriented, and invested in technology that adds value to your operation.

How:

Give your website some love! It should be user-friendly and easy to navigate, have an aesthetic that reflects your brand, and have a built-in reservation system with a user-friendly checkout flow for guests.

Your website is the public face of your company, use it to make a good first impression

5. Reduce Operational Expenses

The more your park profits, the higher price it's going to fetch.

How:

An online reservation system reduces operational costs, which is the quickest and easiest way to boost profits.

• It saves time and reduces mistakes by automating reservations, communication and payments
• It reduces the need for extra staff, and/or frees up staff to be more productive in other important areas
• It keeps all your data in one place, allowing you to easily run reports and learn where to increase/decrease prices
• It lets you maintain that personal connection with guests, while saving time on day-to-day tasks
• It saves you money on credit card processing fees
• It lets you accept reservations 24/7 on your website, so you don’t have to staff the phone for long periods of time
• A good online booking system has an intuitive user interface, meaning less time to train new staffers

6. Make it Easy for Buyers to Say "YES"

“If you’re planning on selling the business one day, remember: It’s not a business unless it runs when you’re not there. Who wants to buy a ‘business’ if you are the business?”If the way you want your business to run is mostly stored inside your head, that means you're the only one who can "do it right." It also makes training new staffers a pain, because there are no repeatable processes or systems in place to ensure a consistent customer experience. A smooth transition is important for prospective buyers who want hit the ground running, and the right online reservation software plays a critical role—especially if you offer rentals and activities in addition to lodging.

How:

Standardize and streamline business operations with one online booking system used by the entire staff. From automated email communication, to managing staff schedules, to taking reservations, to checking people in, an online reservation system lets you do it all under one platform. If you offer rentals and activities in addition to lodging, make sure to choose a software lets you easily manage all three.

7. Most Importantly: Make it Easy to Prove the Value of Your Park

When it's time to sell, having all of your finances and years of data digitally streamlined under a single platform will (1) make it easier to access, gather and organize important information, and (2) validate the worth of your campground or RV park. Shabam.

How:

Have an online reservation system that rolls up all of your data into digital reports that are easy to access, understand, and share.*****Whether you're preparing to uproot for another adventure, or cashing in and cruising towards retirement, getting top dollar for your investment takes some foresight. An online reservation system can increase revenue, reduce costs, streamline operations, and provide financial visibility; all factors that could significantly increase the sale value of your campground or RV park. It's also easy, affordable and quick to implement—get set up in just a few days!Be proactive now, and be a happy camper later.

Unless it's a hilarious kitchen apron, or an electronic Chewbacca mask, our general attitude towards one-size-fits-all products is...meh.The same thing goes for the needs of rental businesses—particularly when it comes to setting up pricing structures: This is no one-size-fits-all scenario. It may seem like a simple undertaking on the surface, but there are many nuances that make it complex and highly specific to each outfitter.Consider all the variables that can affect pricing:

• Seasons
• Time of day
• Duration
• Group size
• Add-ons such as equipment kits, insurance, wetsuits, GoPros, etc.

Keeping track of all these variables with a spreadsheet (or worse—by hand—with ledgers!!) can be time consuming, confusing and tricky. It's important to have a robust online booking software to support all these variations and help manage pricing options, but how do you pick the correct option for you?To avoid investing in an online booking solution that only works for some parts, but not all of your rental business, use this checklist to ensure your system can handle the following complexities:

1. Seasonal pricing

Look for software that allows you to create your own seasons with a date range.

Different seasons call for different rental rates. For example, if your bike rental business is booming during the summer months, you might want to capitalize. So during this peak season, you increase pricing by 20 percent while demand is so high. Later, as bookings wind down with summer, you lower pricing by 25 percent to attract more customers.Point in case: Your online booking software should give you the ability to create different pricing schemes throughout the year. Look for software that allows you to create your own seasons with a date range. Peek Pro features seasonal pricing, which automatically adjusts prices for your activities depending on the day of the week or the time of year.

2. Multiple Rental Pricing Methods

Not all rental equipment is used the same way—or for the same amount of time. That's why it's important to consider which pricing methods make the most sense for certain types of equipment.Take, for instance, bike rentals. One customer will come along and rent the bike for, say, three hours, which makes an hourly rental rate the most practical choice. But if you're renting motorboats at a popular lake destination where visitors flock for vacations and weekend getaways—it makes sense to charge a daily rate. Or perhaps you specialize in glow-in-the-dark stand-up paddle boards. Consider renting them out at a nightly rate, so people can paddle as late as they want and return their board in the morning.Tip: If you're like many watercraft rental businesses and offer guided tours and activities in addition to equipment rentals, it's important to choose an online booking system that also lets you charge a per-person rate.

3. Parameters For Inventory Availability

If the mere mention of "inventory management" brings on a pounding stress migraine, it's a sign: your online booking system isn't pulling its weight! Look for a software that lets you specify availability time windows for each piece of rental equipment (i.e. a specific type of bike) or for groups of rental equipment (i.e. all kayaks). The right rental software will also make it a cinch to take inventory offline for needed repairs, and even schedule recurring maintenance windows.

4. Scaling Discounts For Different Group Sizes

By offering a more appealing per-unit pricing structure, larger groups know they’re getting a great deal.

If your customers are getting a discounted rate for booking as a big group, make sure they know it! Use a robust online booking solutionthat lets you to create multiple pricing groups (e.g. 1 to 9 people and 10+ people). By offering a more appealing per-unit pricing structure, larger groups know they're getting a great deal.

5. And Don't Forget...

Beware of Generic Software

As you've probably already guessed, generic software doesn't work very well in the rental pricing space. Look for an online booking software created by a company with deep expertise in the rental market. Ultimately, setting up and managing your rental pricing should be easy, flexible, intuitive, and simple to maintain. This lets you focus more on the customers, instead of messing around in the minutiae of scheduling and maintaining prices.

Keep Customer Experience Top of Mind

Speaking of customers: A successful rental pricing solution delivers a seamless customer experience where the right price is calculated every time, no matter the variations—be it quantity, duration, unit type, group size, special promo codes or add-ons. By providing a clean and intuitive booking interface for guests, you're setting the tone for a top-notch customer experience right from the get-go. Choosing the right software for your rental business can be a challenge, but once you've found it, your day-to-day can transform from frazzled to fantastic. Fewer mistakes, more visibility, a freer schedule, and less stress are on the horizon—not to mention the elimination of inefficiencies when doing things by hand.

A little extra prep time can make a big difference.These are words of wisdom for a lot of things in life, whether you're studying for a tough exam, practicing for a big recital or cooking up a Thanksgiving feast. And as a business owner in the tour, activity or rental industry, you know better than most that preparedness makes all the difference when it comes to delivering a top-notch experience for guests. So wouldn't it be dandy if more customers booked a day, a week—or even a month—ahead of time, letting you know exactly what's on the docket for the days ahead?We compiled five tips to encourage customers to book in advance—leaving you more time to focus on big-picture items like staffing, budgeting, interacting with guests, and (most importantly) doing what you love.

1. Embrace The Internet

People want to do things online, on the go—and they want to get their tours, rentals and activities that way, too.We live in an era where people can grocery shop, jam to Ed Sheeran's latest album, and get a hot date for tomorrow night—all while waiting in line at the post office. People want to do things online, on the go—and they want to get their tours, rentals and activities that way, too.Since the average Millennial or Gen Z kid won't even consider calling to book a travel experience or activity, the first step to encouraging people to book in advance (or book at all) is creating a great website for your business.Next, make sure your website is responsive—a.k.a., it “responds to” or resizes itself depending on the type of device it is being viewed on (laptop, smartphone, iPad, etc). Request this if someone is designing your website for you, or choose a responsive template such as Wordpress, Squarespace, Webflow or Weebly if you're building the website yourself.Last, use a seamless online booking system so customers can easily browse availability, book, and pay on your website. People will feel more comfortable booking ahead of time online when they're using a trusted payment processor, and scheduling will be easier on your end with an online calendar that updates in real time as customers book.Choose an online booking system that allows the checkout flow to be directly embedded on your site.

2. Be Smart With Prime Real Estate on Your Website

Optimizing the booking button is one of the most overlooked tactics we see all time. Where and how often this button appears on your website—along with size, color, words and font—can make a significant difference in reservation volume.Writing some persuasive copy on your website can also sway guests to reserve their spot in advance. For example, if your tours, activities or rentals must be booked at least a week ahead of time, consider stating this "above the fold," a.k.a., the portions of the homepage that are visible without scrolling. Impart a sense of urgency with messaging that says something like, "classes fill up fast—reserve your spot online now!" etc.

Position important information above the fold on your website

3. Consider Your Cancellation Policies

Now that you're thinking about ways to encourage folks to book in advance, let's also consider one of the potential roadblocks: Cancellation policies.No one likes hidden fees or unclear policies. Being transparent, fair and reasonable (to the extent that you can be) with cancellation policies, terms and conditions will give customers faith in the professionalism of your business, and make them feel more comfortable booking ahead of time.

Questions to consider when creating your cancellation policy:

• Can the customer reschedule if something comes up?
• Do you have cancellation fees, and if so, when do they apply?
• Will refunds be available all the way up until the redemption date, or only a few days after booking?
• Will you have a sliding scale for the amount to be refunded based on proximity to redemption date?
• How can the cancellation be made—online, through email or over the phone?

If last-minute cancellations from customers who book in advance are a concern for your business, implementing a small cancellation fee—and being upfront about it on your website—can help discourage people from backing out.

4. Posts That Pack A (Profit) Punch: Get Social Media Savvy

When it comes to selling an experience, showing is more powerful than telling. And what better way to "show" how awesome your activity is than by sharing cool photos on Facebook, Instagram and Twitter? Be diligent about posting on social media all year long. Even if you've got seasonal downtimes or close up shop during certain weeks, that doesn't mean your brand building—or advance bookings—have to take a hiatus. A robust social presence helps keep your business "top of mind" for the folks who like to plan ahead.

How to use social media to encourage customers to book online in advance:

• Add the "call to action" button on Facebook: Quite frequently, people end up visiting your Facebook page before they find your website. By adding the "book now" button on your businesses' Facebook page, you can fast-track customers directly to the checkout page on your website.

Make it as easy as possible for your customers to get to your checkout flow. Taking advantage of the call to action button on Facebook, like our partners at Moto Surf Co. pictured above, is an easy way to do this!

• Catch them when they miss you: For example, if you've got a boat charter business that only runs from May to September, dig through your smartphone photos and find a nice shot that you snapped in the summer when it was sunny and gorgeous. Post it on a day when it's dreary outside and your customers are all bundled up. Seeing the summer fun that awaits will create anticipation, and keep your business top of mind when people are getting ready to make plans for the following summer.
• Prepare for holidays and special occasions: Post about seasonal or upcoming themed experiences (Halloween trolley bar crawls, Christmas Lights tours, Valentine's cooking classes, etc.) at least a month ahead.
• Create a sense of urgency: Gently remind customers that slots fill up quickly, and update them on how many are left as they fill up. Knowing that the demand is high and opportunities are dwindling can encourage folks to act fast and book early.

5. The Price Is Right: Incentivize!

Fact: People love getting deals. Another fact: People are more inclined to buy things they wouldn't normally purchase simply because there's a discount. Use this oh-so-scientific information to your advantage and offer pricing incentives for early bird bookers. The easiest way to do this? Use an online booking system that lets you build customizable promotional codes, so you can set discounts to apply for specific days and time ranges. Customers can enter in a code at checkout and see their discount reflected.Using promo codes to get customers booking online ahead of time:

• Incentivize people to book faster by setting a max usage number: "The first 20 people to book get half off their skydiving tickets!"
• Boost sales in your slow season with discounts over a period of several months: "Book a horseback riding lesson from January though March and get $30 off!"
• Drive repeat customers by putting discounts in follow-up emails: "Thanks for skiing with us! Take $20 off your next rental if you book now." An online booking system like Peek Pro makes it easy to send automatic, customized follow-up/thank you emails.

Bottom line? It behooves you to get customers to book in advance. Not only does it allow for more prep time and help guide decision around staffing and budget, you'll spend less time fussing over day-to-day particulars, and more time providing your customers with an awesome, memorable experience.

When you specialize in online booking software for rental companies, you come across a smorgasbord of interesting and innovative business models. From people who turned their passion into a career, from folks looking to supplement a full-time gig, the possibilities are far-reaching and fun to explore. If you're entertaining the idea of starting rental venture, but overwhelmed by the options and need a little inspiration to get the entrepreneurial juices flowing, we put together a variety of ideas based on what we've come across in this industry—from outdoorsy, to ultra niche, to hobby-based.

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Happy brainstorming!

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1. Party Boat

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Sure, we've heard the saying: The two best days of owning a boat are the day you buy it, and the day you sell it. But whoever said that didn't dip their toe into the boat rental market! With a houseboat or party boat, think about all the types of customers you can cater to: Family reunions, bachelor/bachelorette parties, corporate outings, etc.

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2. Luxury/Party Bus

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“The secret of getting ahead is getting started. ”— Mark Twain

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This has same appeal as party boats, but for landlubbers. Luxury buses make the mode of transportation a destination all on its own. Not only is there a year-round market for this type of service, it's a fun opportunity to add your own sense of style and whimsy to a proven business model. For example, we've seen entrepreneurs purchase old school buses and convert them into the ultimate party mobiles—especially perfect for transporting wedding guests in between venues.If you're going for sleek and sophisticated, consider a personalized chauffeured luxury car service. You can always start small with one vehicle, and build your fleet from there.

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‍Tip: There are a number of factors that need to be considered for this market, such as staffing your drivers, insurance, legal compliances and drawing up a detailed business plan that identifies your target customer base (for example—wine tasters, sightseers, wedding parties, etc). But this proven business model can be sustainable, profitable (and fun!) if you invest the time and effort in doing it right.

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3. Mobile Beverage Systems

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Some people like to party at the bar—but you could bring the bar to your party. The tap party trailers cater to larger groups like weddings, golf tournaments and festivals, while the two- and one-tap systems are perfect for small-group tailgating, picnics, barbecues, etc. When you base your business around a commodity that's always going to be in demand (beer!) you're thinking like an entrepreneur.

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4. Party Supplies

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The possibilities in this category are as colorful as a fistful of confetti. Think about it: Most folks don't have chocolate fountains and bouncy castles and bubble machines stowed away in their hallway closet (wait, you do? Can we come over?). When it's time to throw a shindig, people turn to vendors. Whether you want to specialize in one specific thing that generates income on its own (audio equipment, for example) or accumulate an inventory of supplies, this particular rental market has lots of flexibility—and opportunity.

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Here are just a few ideas:

• Concessions machines (popcorn, cotton candy, snow cone, chocolate fountain, slushies/margaritas
• Bouncy houses
• Audio equipment
• Smoke machines
• Tents, tables, chairs
• CO2 Tanks
• Bubble machine
• Karaoke machine
• Interactive games

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5. Party Character Rentals

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“You don’t have to be great to start, but you have to start to be great.”— Zig Ziglar

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Speaking of parties: Chuckle all you want at the idea of employing Spiderman or Snow White or SpongeBob Squarepants, but managing a party character rental company can mean serious business. After all, who can put a price on fulfilling the birthday dreams of little kids? (You can). If you're already researching the idea of establishing a party supply rental business, character rentals can be a lucrative add-on to expand into down the road.

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6. Outdoor Activity/Sporting/Fitness Equipment

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Wide open spaces...wide open possibilities! In this particular category, the best place to start is by considering the natural conditions of where you’re based. Wherever you are, there’s probably an activity that suits your surroundings. If you're an outdoorsy type, this is a rewarding way to stay immersed in what you love, share your passion with other people, and bring in some extra income.

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Consider...

• Near a river/lake: Fishing equipment
• Near a snow resort: Ski/snowboard/snowshoeing/tubing gear
• Near mountain range/rocky area: Climbing gear
• Near an ocean: Surfboards/boogie boards/hand planes/wetsuits/snorkel gear
• Near a national park: Hiking gear
• Near sand dunes: Sandboards/sandsleds

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7. Watercrafts

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Speaking of you outdoorsy types, where there's a body of water, there's a (rental) way. If being out on the big blue puts a big 'ol smile on your face, it's time to float some ideas—think canoes, kayaks, paddle boats, standup paddle boards, and (our personal favorite) mega SUPs! Start small—a part-time business could get by with a livery of just five boats to begin with. Take the time really refine your customer experience, nail down basic business operations, and separate yourself from the competition before expanding your inventory. Entrepreneur.com estimates the startup costs for this business are $10,000 - $50,000.

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‍Tip: A few things to think about as you explore this possibility—read up on the rules and regulations of watercraft rentals in your state, on-water liability insurance, and look for an organization that can provide community and insight along your journey, such as the Stand Up Paddle Industry Association or the American Kayaking Association. This type of rental business can also be set up in several different operating formats.

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Take time to refine your customer experience to separate yourself from your competition

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8. Electric Scooters/Segways/e-Bikes

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If you've got some mechanical aptitude and live near a highly-trafficked area that attracts a lot of tourists, renting out mopeds, Segways or electric bikes is a practical venture to consider. These types of vehicles are comfortable, user-friendly and just plain fun, making them appealing to a variety of people and thus broadening your customer base. Scooter tours are very popular in vacation spots and adult playgrounds like Las Vegas and Hawaii, and Segways remain a popular tourism staple in tech hubs like Austin and San Francisco. If you're looking to get started quickly, do a little research into franchise opportunities that could give your business a fast track to earnings, profits and growth.

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‍Tip: Reach out to someone who owns a scooter, Segway or e-bike rental business in an area that won't be competitive with your business. The business owner might be more inclined to give you some tips and advice on getting started.

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9. ATVs

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ATV’s, or all-terrain vehicles, are popular all over the country, from the woods of New York to the lush expanses of Hawaii. And while they present some startup challenges, they offer exhilarating appeal for tourists who really want to get immersed in their surroundings. eHow points out that the best spot for renting ATVs is "close to designated off-road areas or back country recreational locations where the machines are allowed. Check with the state or federal agency that manages the area to determine what permits or licenses are required if you operate within the boundaries of the park or national forest."

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10. Photo Booths

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If you’ve been to a wedding in the past sevenish-ish years, you know that photo booths are as much a staple as the DJ, the cake, the bouquet toss, and that one weird uncle from Minnesota who makes an awkward speech. The photo booth fad doesn't appear to be fading out of the picture anytime soon, which makes it a promising side gig to explore—especially if you value flexibility and fun.Some photo booth operators say they rake in about $100 an hour gross profit before taxes are accounted for. This entrepreneur says he makes about $1,000 for working two events in one weekend. Downside? It can dig into your social life, since most weddings and corporate events take place on weekends.

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11. GoPros & Accessories Tripods/Rigs/Harnesses To Go With Them

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Offering GoPros, and all the cool doo-dads to go with them (drones, harnesses, mounts, floating hand grips, etc.) is a great way to cater to thrill-seeking adventurers who want to document and share their excursions on social media. And while the hardcore Shaun White types probably have an arsenal of their own photography goodies, this GoPro rental business rightly points out that "renting a GoPro is the cheapest option for recording HD action video without buying expensive equipment."

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12. Glamping or Camping Gear

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There are two types of people in this world: People who camp, and people who don't camp, but tag along every once in awhile because they were invited, and don't own so much as a headlamp or sleeping bag. The latter is your meal ticket. This rental model is especially viable if you (1) live near a popular camping destination, or (2) live in a big city where people are inclined to get out of town and spend a week in the wilderness. Granted, you'll be competing with big names like REI and Sports Basement, but there's plenty of room for competition! Keep in mind: Quality/cleanliness of gear, and allowing your customers to conveniently check out items online will be hugely important to the success of your business.

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13. Bikes

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A bike rental business is a smart option if you live in an area with extensive bike trails (Cape Cod, for example, is an area with loads of bike tourism).Think about what kinds of add-ons you can offer to boost sales: tag-alongs or trailers for the kiddos, strollers, dog trailers, and fat bikes for the winter (if you live in an area with snow) are all things to consider. You can even put together packages that includes refreshments and a round-trip shuttle pickup/drop-off.

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14. Cake Stand Rentals

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Look at all the blingy bling on these cake stands! Elevate the Cake saw a market for this and went for it, pointing out that "since hundreds of dollars are often spent on the cake, why have it displayed on cardboard, plastic, or nothing at all?" Not only that, who wants to buy a cake stand if they're only going to use once?No question about it: The best work is the kind you enjoy. Nothing delights us more than when we partner with a client who turned their passion into a business, like our friends at Elevate The Cake. Cake stands are actually a hot commodity in the wedding planning business, and your crafty designs can be the cornerstone of someone’s perfectly planned nuptials. Seriously—the fact that there is an Internet article called "a guide to wedding cake stands" proves there's a market for this kind of thing. Bottom line: If there's something you love to make, don't rule out the possibility that someone might want to rent it!

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15. Pipe Rentals

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The legalization of recreational marijuana in several U.S. states has created a new market for cannabis enthusiasts.

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And remember...

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A number of the aforementioned business models can also be set up in several different operating formats, so consider the following, as it could influence what type of rental idea you ultimately decide to pursue. Consider if you'd rather...

• Supply rentals to hotels, and split the revenue
• Operate the rental business from a rented location (e.g. even if you don't own waterfront property, that doesn't mean you can't operate a watercraft rental business)
• Run the rental business directly out of your home and advertise that people can pick up directly from you, or that you'll deliver the gear to a pre-arranged location

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****Starting your own rental business can be one of the most challenging—and rewarding—things you ever decide to take on. For every step of the way, there's a wealth of resources out there to help you succeed.

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Read about Dylan's Tours and how they became one of the largest operators in San Francisco

A growing number of marinas are specializing in pleasure craft rentals, including kayaks, motorboats, jet skis and stand-up paddle boards. If you're among this segment of activity operators, you're likely facing stiffer competition to attract guests. One way to stand out above the rest? By providing a great online booking experience for your guests. With the Internet serving as a major medium of communication in the travel industry, "web exposure is a major sales-driving force," IbisWorld points out in a recent study on tour operators in the U.S. "And consumers will increasingly use online trip planning resources."Here are the top reasons your marina should accept online bookings for recreational watercraft rentals.

1. It Improves Customer Service

Rather than calling directly to inquire about available rentals and provide payment information over the phone, a growing number of tech-savvy travelers—at least 85 percent—are going online to shop for, and book experiences. So if you don't offer a great online booking experience, that's a big school of fish to miss out on in the ocean of customers.And it's not just about catering to customers' search habits. With an online booking system like Peek Pro, guests will receive an automated confirmation email that can be fully customized to include any details of your choice, along with a reminder email prior to the experience and a follow-up email after. This allows for thorough and detailed communication between you and your customers, without having to play phone tag or make lengthy calls. And if maintaining that personal connection from the get-go is important to you, perfect! With Peek Pro, you can opt to accept pending bookings online, but still require a phone call to verbally seal the deal and confirm the reservation.

2. It Makes It Easy For Guests To View All Their Options

If you're currently taking reservations over the phone and find it difficult to clearly communicate all the details, consider how much time and effort you'll save by coordinating the entire reservation online. You're not a parrot, and your guests have better things to do than listen to you list particulars like package options and availability. Make it easy for folks to view all available rentals, seasonal packages, and special offers in one place.

3. It Streamlines Inventory Management

Inventory management. Those two little words carry a lot of weight for anyone who runs a busy rental business. Effectively reconciling available inventory and scheduled reservations can mean the difference between smooth sailing....or a totally derailed day.An intuitive online booking system like Peek Pro brings your business out of the pen-and-paper age with real-time inventory tracking.

An intuitive online booking system like Peek Pro brings your business out of the pen-and-paper age with real-time inventory tracking.

It makes it easy to assess how many items are in storage or in "repair" status at any given time, and helps you forecast whether additional equipment will be needed for upcoming busy seasons, based on your number of pre-bookings.

4. It Makes It Easy To Book Packages

If you offer any type of seasonal packages or group pricing, you need an efficient system in place to manage multiple-person reservations and special itineraries. Relying solely on pen and paper reservations or a manual entry computer system—such as a self-created spreadsheet or database—doesn't always guarantee accuracy. Turn to an online booking system where you can set up packages and seasonal reservations in the backend, so the entire booking process runs smoothly.

5. It Simplifies The Add-On Process

Make it easier for guests to hand-pick their add-on selections during the checkout process. With an online booking software, the sky's the limit for add-ons: additional equipment rentals (wetsuits, rash guards, waterproof GoPros, etc.), classes, workshops, meals, or even souvenir purchases. This is an easy way generate additional revenue, as well as set your guests up ahead of time with everything they need for a fantastic experience.

6. It Makes Your Calendar Visible In Real-Time

Give customers access to your calendar in real-time, so there's never a question about whether a reservation is available or not. Using an online booking software with clear calendar visibility makes it much more convenient for guests to plan their experience. It also helps staff members gain an accurate view of how busy a particular week or season is going to be—all they have to do is check the reservations calendar that populates automatically.

7. It Simplifies The Pricing Structure For Custom Bookings

Offering tiered pricing for guests can be a great way to generate more business. Quickbooks reports on how tiered pricing can be a valuable pricing strategy for a small business owner, particularly because customers enjoy having a variety of choices at their disposal. Peek Pro's online booking system for rentals is designed for even the most complex rental bookings and pricing configurations. You can make full use of nightly, daily and weekly rental booking and management features to accommodate all types of guest requests without extra administrative steps.

8. It reduces the risk of no-shows.

The cost of no-shows can be significant when managing any type of rentals business. As Karen MacLaughlin, owner of Karen's Kayaks, points out in our post about reducing no-shows, it costs her company an average of $1,000 in revenue when someone cancels their trip. You'll find it much easier to implement and enforce your no-show and cancellation policy when guests are required to pay for their reservation upfront and agree to your policies when confirming their reservation. This can reduce—or even virtually eliminate—no-shows, so you don't run the risk of losing revenue every time a reservation is made.From streamlining the rentals inventory management process, to providing guests access to a real-time availability calendar, accepting online bookings for recreational rentals can be a great value to your marina business.