Cedric Cook ⋅ Richmond , TX IBM ⋅ 19 years experience

Hi Ryan -

I think that you're on the right track since you've decided what you want to do.. Here are a couple of tips for you:

1. As you're determining how much it will cost to run your business, Hopefully, you have investigated the following:

a). Contact insurance companies to understand what your coverage options are and how much it will cost to operate the bounce-house.

b). Determine which "bounce-house" equipment suppliers you will utilize and how much they will charge you for each of them... I'm assuming that you will have more than 1. Also, don't forget to account for a repair kit, generator, etc..

c). Decide whether you will do the work yourself or if you are needing someone to help you.. If you have labor-rates for your areas, factor that into your budget...

2. Investigate what competition exist in your area e.g. search yellow pages, ask others, etc..

a). Find-out how much they charge and what's included in their Service.
b). You'll also need to figure-out where your competition is advertising and when they operate..

Otherwise, stay focused and set some realistic goals for getting your business started and stick with it.

I appreciate your service!

Good luck!

Cedric

Gerald Thomas ⋅ Tulsa , OK MSC Industrial ⋅ 25 years experience

Ryan,

Thanks for your service. The first thing in any start up is understand a focus area you would like to start with and then expand from there. If you are starting with the bounce house then your area of focus would be kids parties and all the things you can rent or sale for a parties. Once you have learned to manage this then you can move to weddings and other venues.

Good luck with your business.

Cedric Cook ⋅ Richmond , TX IBM ⋅ 19 years experience

Ryan - My pleasure.. Yes, there are a few steps that you must take before getting started.. But, I always say that you'll want to tie your shoes before starting that run :-) ..

And, honestly as you're taking these steps to setup, it's no too bad for the reward that you'll experience.

Best of luck to you.. And I know that you'll do well...

Regards,

Cedric

Brian Richardson ⋅ Columbus , IN U.S. Army, Sergeant ⋅ 8 years served

Ryan,
It sounds like you have the drive. That's good. There is a lot to process, but keep pressing forward.

Cedric makes some very good points. Insurance (and the right kind) will be very important. Shop around for it as it may not be a real common type of coverage and you want an agent that knows what they are doing/selling.

The bounce house manufacturers might be able to give you some help regarding insurance carriers/options.

But even before all of that, have you determined if there is a market for your services? Will you be in direct competition with other companies in your area? Will you compete on price, service, availability etc?

I might suggest you don't try and compete on price alone. "Cheapest" is not always best. You need to try and differentiate yourself from your competition. Check out their websites and see how you can be better.

Especially during peak months, how will you handle multiple people wanting your services on the same day? Have you been able to determine how long it takes to set up and take down? That will enter into your costs and/or additional employees.

If I can be of further assistance, feel free to PM me here or thru my site.

Brian Richardson
www.VetLaunched.com

Ryan Brown ⋅ Melbourne , FL Patriot Investment Partners ⋅ 2 years experience

Mr. Cook,
Thank you so much for sharing. Yes sir I have done most of what you are suggesting. I still have a ways to go though. I want to start asap, but it seems like a lot to the process before actually starting.

Thank you again for sharing this great information

Ryan

Ryan Brown ⋅ Melbourne , FL Patriot Investment Partners ⋅ 2 years experience

Mr. Thomas,
Thank you for sharing the wonderful advice.