Business Idea Center: Dunk Tank Rentals

Dunk Tank Rentals

Business At A Glance
Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
Dunk Tank Rentals

Business Overview

This certainly is not the type of business that jumps to mind when you start the process of thinking about the various types of business opportunities you can start and operate. However, for anyone who is seeking something a little bit out of the ordinary in terms of a new business venture, a dunk tank rental business does have a lot of benefits to be considered including limited competition, low start-up investment, ability to be managed from a homebased office, flexible business hours, good growth and franchise potential, no inventory, minimal overheads, and great profit potential. There are two main objectives to be accomplished in order for a dunk tank rental business to be successful. The first objective is to rent the dunk tank, and the second objective is to make sure no one is ever injured as a result of renting the dunk tank. Providing these two objectives can be achieved, the business will be considered a success. The first business objective is that dunk tanks do have a limited target market in terms of rental; so the business owner must apply innovation and creativity to secure the existing limited market, create a larger market, or both. Securing the existing market can only be achieved in one way, you must not be afraid to approach people and promote your business. Potential customers will include sports associations, charities, business associations, schools, fund-raising consultants, special event planners, caterers, kid's party planners and community organizations. Generally the purpose for a group, club, organization, school or charity to rent the dunk tank is to raise money for an event or program by charging people in attendance a fee to attempt to dunk the unfortunate soul who has been chosen to take the wet seat. With that being the case, what better way than a dunk tank to raise the money. Once again the second and equally important business objective is to ensure that the dunk tank is safe for all participants, and this can be accomplished with careful planning, research, design, construction practices and material choice. Designing a dunk tank should be left to a professional engineer, as a typical dunk tank contains over 3,000 pounds of water once filled. Furthermore the dunk tank should also be professionally built. There are a few manufacturers of dunk tanks, and research into your local area will probably uncover a company with suitable credentials to undertake the project. The final considerations for starting a dunk tank rental business are as follows: • Suitable indoor or protected outdoor storage area for the dunk tank when not in use. • Transportation capable of towing the trailermounted dunk tank to rental locations. • Liability insurance for the business.
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