{"id":760,"date":"2018-02-09T17:08:03","date_gmt":"2018-02-09T17:08:03","guid":{"rendered":"https:\/\/rvplusyou.com\/kb\/?p=760"},"modified":"2019-10-10T20:30:54","modified_gmt":"2019-10-11T03:30:54","slug":"starting-an-rv-rental-business","status":"publish","type":"post","link":"https:\/\/rvplusyou.com\/kb\/starting-an-rv-rental-business\/","title":{"rendered":"Starting an RV Rental Business: Are Small Business Loans an Option?"},"content":{"rendered":"

By Guest Author June from <\/em>Dinks.co<\/em><\/a>; she\u2019s a new blogger who took an interest in the RV Rental Business!<\/em><\/p>\n

If you\u2019ve ever stiffly crawled out of a tent while on a camping trip only to wish you owned a recreational vehicle (RV), you\u2019re not alone. While only 11% of middle-aged Americans<\/a> own an RV, the number of people who use RVs each year is growing due to a novel concept: the RV rental business. More and more people are starting an RV rental business.<\/p>\n

The RV rental business has exploded in the United States. This is currently a $350 million industry that\u2019s growing each year. If you\u2019re part of a dynamic entrepreneur couple looking to jump into the RV rental industry, you might be wondering how to get started or whether a small business loan is a good idea.<\/p>\n

Can an RV Rental Business Make Money?<\/strong><\/h2>\n

The short answer is yes\u2014if done correctly. Most families who own an RV don\u2019t live in them; in fact, since they\u2019re primarily vacation vehicles, they sit unused for nearly 11 out of 12 months<\/a> on average. During that time, they\u2019re not making money, but the owner is probably having to make a payment on it.\"Green<\/p>\n

If you own an RV and rent it out for more than it costs you to make any payments and cover maintenance costs, then you\u2019ll make a profit. An RV rental business doesn\u2019t have to employ a fleet of RVs or have a big facility. Anyone can rent out their RV when they aren\u2019t using it.<\/p>\n

RV Rental Business: How Can You Get Started?<\/strong><\/h2>\n

There are two basic ways to start renting RVs. If you have a lot of friends who own RVs, you might be able to set up a rental pool; that\u2019s where you are allowed to act as an agent\/manager while renting out their RVs and making them income\u2014in return for a bit of the profit. You might end up having to pay for maintenance and licensing for the RVs, but each rental agreement can be worked out with the individual owner. Learn more about RV Vacation Rental management<\/a>.<\/p>\n

Most aspiring RV rental moguls, however, start out by renting just one RV\u2014their own. That means they need to purchase an RV themselves, which can run from $10,000 to well over $150,000 depending on options, size, quality, and amenities. Add on to that the maintenance required to keep it in running shape. This could amount to a serious expense; for instance, new tires could cost $2,500 alone<\/a>. Suddenly buying that first RV could end up seeming like a sinkhole; well, it\u2019s definitely a risk.<\/p>\n

Average rentals per night for an RV can be anywhere from $110 to $400 and up; even if you only rent out your RV out for half of an average month, you could be looking at bringing in over $6000 per month. Suddenly letting other people pay to use your RV sounds like a pretty good idea\u2014if you can get one.<\/p>\n

Business Loan? Or Pay Out of Pocket?<\/strong><\/h2>\n

The next logical step is deciding whether to pay out of pocket, or if a small bus<\/p>\n

iness loan is a better option.<\/p>\n

If you have the money to buy a small starter RV, that could be your best option.Being able to own the RV free and clear means the money you make from renting it out can get to your pocket faster. The downside of a small start, however, is a lower rental fee. Instead of that $6,000 per month discussed above, you\u2019d be looking at possibly as little as $1200-1500 per month for renting the same half-month. Whether that amount is worth it to you depends on what your business goals were and how much it will cost you to maintain the RV between renters.<\/span><\/p>\n

If you choose the small business loan route and are approved, you could start out a bit bigger. You could begin with a pull-behind or even a motorhome that sleeps 6 or 8. The much higher rental fees\u2014especially if you rent to groups instead of families\u2014mean you\u2019ll\u00a0 make the loan payment and take in a solid profit as well.<\/p>\n

\"Woman<\/p>\n

The drawback, of course, is that you\u2019ll have a monthly payment. A finance company or lender will be the lienholder on the property you\u2019re using to make money. Also, you\u2019ll be charged interest on the loan which can range anywhere from 4.99% to as much as 99%<\/a>. That can feel uncomfortable.\u00a0 If your business doesn\u2019t make enough to keep the payments on time, you could eventually lose the RVs. That would end your ability to keep your business going.<\/p>\n

Conclusion<\/strong><\/h2>\n

The question of whether a small business loan or out-of-pocket investment is best can\u2019t be settled with a fast answer. It depends on the goals of the business, the amount of capital available to start, how big you want to go initially, and even you, the entrepreneur. Whichever road you choose, you\u2019ll see benefits and drawbacks. Do the research, think smart, and consider all your options before deciding.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Guest Author June from Dinks.co; she\u2019s a new blogger who took an interest in the RV Rental Business! If you\u2019ve ever stiffly crawled out of a tent while on a camping trip only to wish you owned a recreational vehicle (RV), you\u2019re not alone. While only 11% of middle-aged Americans own an RV, the Read More<\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[4],"tags":[44,3],"yoast_head":"\nStarting an RV Rental Business: Are Small Business Loans an Option? - Delivered RV Rentals<\/title>\n<meta name=\"description\" content=\"If you\u2019re part of a dynamic entrepreneur couple looking to jump into the RV rental industry, you might be wondering how to get started or whether a small business loan is a good idea. 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