5 Proven Ways to Grow Your Golf Cart Rental Business.
The golf cart rental industry is rapidly expanding, and now is the best time to grow and improve your business to ensure that you stay ahead of the competition. According to a recent study by Fortune Business Insights the golf cart market is expected to grow from USD 1.69 billion to USD 2.55 billion by 2028, a 6% CAGR (Compound Annual Growth Rate). They attribute some of the reasons for this growth is the expanding demand for golf cart rental services in the upcoming years.
Here are proven methods to grow your golf cart rental sales
- Keep track of your golf cart inventory.
Tracking your inventory and knowing which of your carts are available or rented out is essential to running your business smoothly. Knowing where your carts are ensure that you don’t overbook, maximizes your revenue, and keeps your customers happy. An online system that tracks your inventory in real time is a great way to manage this.
- Make payment simple for your customers.
Make sure your company offers an online payment system when your customers book. Processing a credit card payment during the online reservation process eliminates loss of revenue due to “No Shows” and speeds up the customer’s check-in process so they can get their cart and get back to their vacation faster. Anything you can have the customer do before collecting their golf cart saves both you and their time and possible frustration.
- Use Online Reservation Software.
Having an online booking software for your golf cart rentals is crucial to growing as a business. 83% of US adults want to book their trips online, and you don’t want to be confined to only getting bookings during business hours. Online bookings are the future of the rental industry, and you need to make sure that your business has an online booking system to stay caught up with consumers. Want to see how it works? Watch our Youtube video on golf cart booking with Indexic.
- Help protect your company from liability.
You must use waivers and rental contracts in your business. A rental contract specifically details the terms of service/use for your company. Be very specific about what is allowable and unallowable for the customer to do while using your golf cart. Lay out in detail what the customer is responsible for and what your rules are. You can’t be ambiguous; you need to be clear to prove your customers are aware of what they can do. Using a waiver supplied by your insurance company or a lawyer will help limit your liability for any accident that happens. The waiver, once again, needs to be very specific about what can happen during the rental period. Both documents are legal documents, and we highly recommend using a professional to develop them. Using an online waiver software that your guest needs to sign during booking ensures that all guests have signed prior to using your carts.
- Establish & re-evaluate your pricing.
To stay competitive in the industry, you need to make sure you’re being smart with pricing. Determine your demand, estimate your costs, and check out your local competition. Adjusting your price to be in line with the market can easily transform your business for the better.
Growing your rental business is an important part of staying up to speed with the growing golf cart industry. Having an online booking software that allows for online reservations, credit card payments, waiver software, and inventory management is an important step toward expanding your business and maximizing your revenue.
Indexic is an online booking, rental, and waiver software for golf cart rental companies. Our software has no out-of-pocket costs, no contracts, and no monthly fees. They are a US-based company that offers incredible customer service.
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