My new idea for the beach.

[French Creek hunter]

Well explaining my idea maybe difficult to understand,but,I think I can help you understand on what I want to do. See,I come up with business ideas for everyday life. My idea was having metal detector rentals right on the beach! There would be this stand,mind you it may not be perfectly on the beach in the sand but maybe on a board walk. The stand would be concreted to wood or just pavement. There would be 3 categories,the first would be cheap detectors like a Bounty hunter,Whites Classic 5 id and maybe a Garret ace 250. The bounty hunter would be 1$ an hour,Classic 5 would be 2$ or 3$ per hour. The 2nd category is detectors ranging from 250$-600$ the rent would be from 5$-15$ a hour. Then the third would be Etrac,Minelab,just very expensive ones for 20$-30$ a hour.

Well right away your thinking this would bother people because there would be a lot of stupid people not knowing the rules and there would be constant beeps and constant people in the way. To solve the noise issue I may have the local beach patrol require headphones for the people the rent from me,I would make it a requirement and if they don't listen then a coast guard can take their detector away if it belongs to me of coarse,I would maybe put a very clear sticker that they can look for quickly. OK,this may ruin the area and everyone may find everything,but if you think about it,a lot of beginner metal detectorest can't find usually anything on their first trip out with a detector,I know that for sure. But you have to ask yourself,how likely would it be that I rented out a detector and someone found something really good? I don't think they would unless they have been metal detecting for years already and just wanted to rent a better detector. I also thought about what if people just took the detector and ran with it? Stole it. Well I would buy some simple key bike chains and loop them through the coil of the detector and it would be attached to the stand,no problem. But what if someone came up,wrote down there name,probably fake,said they would be detecting for 3 hours and then never came back,what would I do? Well I thought of this,I went to Virginia Beach to rent a peddle bike,they guy that rented them would take your drivers license! That's probably what I would do,then they would HAVE to come back. They wouldn't pay up front either,but after they metal detect. Late fees would be 5$ for every hour their late.

I also thought about you guys,what would you say. I know that you would say,this would ruin the hobby for everyone and no one would find anything good anymore. Thing is,you take a not so smart person who has never in their life used or even touched a detector. I believe they are more than likely going to LOOSE more stuff than what they find. OK,question for you fine people, if you were a person that never detected before,never owned one,never touched one but just have heard about metal detecting from TV. You begin to walk onto the beach and see a detector rental stand,what would you do? What woud you think? Would you rent one.
Speak your opinion and tell be what you think!My typing thing is being all funky I know there is two of these and one has a misspell.
Just answer some of these questions and speak our opinions because I won't probably ever do this idea,but someone may do it for me,lol.

 

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[ticm]

I know this ain't right but it sure would be fun to toss some copper bb's around and watch some of the people try to find the target.

Now thats a good time sitting on the beach drink in hand watching a comedy.

 

[dogpound]

what about insurance on the detectors?........... i rent an etrac and then drop it in the ocean.......who's pocket does that come out of

 

[LM]

I think the question here is more economics.
You need to do some business math and figure out what kind of return you can expect on your initial investment, presuming (X) hourly rentals per day minus an amortized expense of your detectors + batteries + other accessories. There you can estimate what your nut is and how many rentals you have to make just to beat expenses, before you pay a salary.

The risk element is whether or not enough people will want to rent them.

This isn't something I would be inclined to do but if I were, I'd definitely start VERY small, perhaps with a few durable-but-cheap machines, and try to work out an arrangement with an existing beach rental service (someone who's already renting surfboards or bikes or whatever) to offer detector rentals out of their space on a commission basis. From there, you're going to know whether or not it's something worth growing into a stand-alone enterprise or not, for very little up front risk.

A pretty good rule of thumb is that any business should have more than one income stream. The highest profit margin product at Fast Food places isn't burgers, but pop. If you're determined to do this and want to make an actual living at it, you might be much better off going all the way and renting beach bikes, surfboards, metal detectors, selling towels, goggles and sunscreen, etc. The catch is that beach retail space usually ain't cheap, which goes back to the suggestion that for a metal detector rental business alone, you might be better off partnering with someone who already has the infrastructure in place, let it run for a few months and see what sort of action it generates.

The last thing you should consider is that you're not going to have much in the way of repeat customers. Metal detecting is a huge 'let-down hobby' where people enter it with one idea but learn fast that reality doesn't quite align with their dreams. Those who do rent will usually do so once, with no interest to do so twice, after having soent a few hours converting their big dreams of jewelry into a small pile of garbage. Those few who do luck out and find something good on their first go out will probably get the fever and wind up buying a machine of their own, not needing to rent yours anymore.

Definitely not naysaying; I say give it a try, but do so deliberately.

 

[French Creek hunter]

I thought of this,usally if someone comes back and tells the truth and says they dropped it into the water I would make a deal with them either they can pay off the detector. Or pay off the detector,lol. I'm not sure what else I could do really, I may have to come up with an answer for that!

what about insurance on the detectors?........... i rent an etrac and then drop it in the ocean.......who's pocket does that come out of

 

[ticm]

I thought of this,usally if someone comes back and tells the truth and says they dropped it into the water I would make a deal with them either they can pay off the detector. Or pay off the detector,lol. I'm not sure what else I could do really, I may have to come up with an answer for that!

So you really never thought any of this out did you? Damage repair, theft, ect. ect. The list goes on and on. By the time every one chimes in your going to hope someone else try's it, so you can hang out on the beach with me and my bb idea and watch the show.

 

[French Creek hunter]

Really the thing would be is for people to pay for the detector if they break it,and having late fees would tripple the money every hour on some. Now my other business I would do would be a store or a small shop that repairs,and sells detectors. I would also rent coolers and boogie boards so on,sell them also I suppose and have a ice box outside. The thing is I researched stores that rent coolers, it was 6$ for a day! I woudn't do that,so I thought maybe 1$ per day then there could be late fees,and damage fees. The store it self would have to be pretty small,and it's all about location. You go to Myrtle Beach there's beachwaer shops ever 2 blocks practically. I also wanted to do maybe a few golf club rentals also. I may go to Virginia Beach again and ask some of the bike rental guys on the beach how much it costs and how well they have to advertise their products they rent.
I never wanted to do golf cart rentals or bikes because if they break it would be a pain in the butt to repair. Detectors maybe easy to repair at times but you can always send them to get repaired. The shop would have parts that we can replace or sell to you. Anyways,thank you soo much,not sure if this idea would be put to use.

I think the question here is more economics.
You need to do some business math and figure out what kind of return you can expect on your initial investment, presuming (X) hourly rentals per day minus an amortized expense of your detectors + batteries + other accessories. There you can estimate what your nut is and how many rentals you have to make just to beat expenses, before you pay a salary.

The risk element is whether or not enough people will want to rent them.

This isn't something I would be inclined to do but if I were, I'd definitely start VERY small, perhaps with a few durable-but-cheap machines, and try to work out an arrangement with an existing beach rental service (someone who's already renting surfboards or bikes or whatever) to offer detector rentals out of their space on a commission basis. From there, you're going to know whether or not it's something worth growing into a stand-alone enterprise or not, for very little up front risk.

A pretty good rule of thumb is that any business should have more than one income stream. The highest profit margin product at Fast Food places isn't burgers, but pop. If you're determined to do this and want to make an actual living at it, you might be much better off going all the way and renting beach bikes, surfboards, metal detectors, selling towels, goggles and sunscreen, etc. The catch is that beach retail space usually ain't cheap, which goes back to the suggestion that for a metal detector rental business alone, you might be better off partnering with someone who already has the infrastructure in place, let it run for a few months and see what sort of action it generates.

The last thing you should consider is that you're not going to have much in the way of repeat customers. Metal detecting is a huge 'let-down hobby' where people enter it with one idea but learn fast that reality doesn't quite align with their dreams. Those who do rent will usually do so once, with no interest to do so twice, after having soent a few hours converting their big dreams of jewelry into a small pile of garbage. Those few who do luck out and find something good on their first go out will probably get the fever and wind up buying a machine of their own, not needing to rent yours anymore.

Definitely not naysaying; I say give it a try, but do so deliberately.

 

[French Creek hunter]

I did,you would have to take their ID,drivers license,credit card,so on. If they run away you just have to go to the cops and file a report. They come back and say they broke it, we will charge them on the spot,they say they don't have to pay the fee then we will call the cops. We will make a short contract they sign before they go. They give me their license,and I write down their name and how long they said they were going to be gone and charge them once they get back. Pretty simple.

So you really never thought any of this out did you? Damage repair, theft, ect. ect. The list goes on and on. By the time every one chimes in your going to hope someone else try's it, so you can hang out on the beach with me and my bb idea and watch the show.

 

[dogpound]

I did,you would have to take their ID,drivers license,credit card,so on. If they run away you just have to go to the cops and file a report. They come back and say they broke it, we will charge them on the spot,they say they don't have to pay the fee then we will call the cops. We will make a short contract they sign before they go. They give me their license,and I write down their name and how long they said they were going to be gone and charge them once they get back. Pretty simple.

don't forget about fake ID's........fake name and address could result in a free etrac or some other high end detector for someone

 

[ticm]

I did,you would have to take their ID,drivers license,credit card,so on. If they run away you just have to go to the cops and file a report. They come back and say they broke it, we will charge them on the spot,they say they don't have to pay the fee then we will call the cops. We will make a short contract they sign before they go. They give me their license,and I write down their name and how long they said they were going to be gone and charge them once they get back. Pretty simple.

So you call the cops your side of the story their side of story goes on a report and off to small claims court you go.
Not trying to be a downer here but this crap happens.

 

[Crispin]

Also, you have to get a permit from the City to rent/sell things at the beach. Most cities are extremelly exclusive in who they give permits to and they are usually really expensive. Think about it, the beach is a prime area to sell/rent to people. If it was not tightly regulated there would be thousands of people walking up and down the beach and camped out on the boardwalk trying to do something similiar. I doubt you would be able to get a permit. If you did it would be really difficult to turn a profit. Put your mind and energy into something else...good luck.

 

[Terry Soloman]

It is fully possible to rent metal detectors, but probably NOT as a stand alone kiosk business. You need a large inventory of used machines that are turn-on-and-go, good insurance, a credit card acceptence method to get the money for the machine if it doesn't return or returns broken - and to collect your much higher hourly fees. I know of at least one Florida equipment seller that does this now as a SIDELINE or a tributary revenue stream..

 

[AC1955]

Up here in New Hampshire, I know of a couple of places that rent machines. One is near the beach and the other is way inland. Both do very well for themselves. Sounds like you have researched this endeavor. Permits, licenses, etc. are usually needed for setting up businesses.

Also, did you think about liability insurance? What if someone gets hurt or hurts someone while using one of your rentals? Could someone possibly drown using one of your detectors? You need to check this out as well.

One last thought, would you be renting sand scoops, diggers, etc.? What would you charge for these? These items are so portable, the replacement costs might be prohibitive if you have to keep replacing them.

Whatever you decide, do it properly...do it legally. Along with the rentals, TEACH your renters to dig and fill their holes (even at the beach and under water) and to take ALL their trash finds with them to dispose of properly.

Good luck!

 

[French Creek hunter]

Simple enough for the scoops or shovels,they would come with the rental rather than a extra charge. But yet again if they break it they pay for it. I would possible have up a ten rule board that they HAVE to look over and follow the rules. But if they don't I can't do much about it. If someone get hurt it would be a lawsuit that I would have to go into head on,maybe put some stickers on my products that say may cause injury and use at your own risk type of deal. I would have to have $50,000 or so just to start the rentals on the beach and wait to get the money for the store later. Or rent a small space on a board walk,never know. The whole thing is kind of like those games you pay a buck for to buy 20 rings to toss and try to land one on a bottle and win a stuffed animal or a guitar. It's a payment and a chance to get something good,not everyone may come back and do it again,but at the beach people come and go. Making it cheap would help it a lot I believe.

Up here in New Hampshire, I know of a couple of places that rent machines. One is near the beach and the other is way inland. Both do very well for themselves. Sounds like you have researched this endeavor. Permits, licenses, etc. are usually needed for setting up businesses.

Also, did you think about liability insurance? What if someone gets hurt or hurts someone while using one of your rentals? Could someone possibly drown using one of your detectors? You need to check this out as well.

One last thought, would you be renting sand scoops, diggers, etc.? What would you charge for these? These items are so portable, the replacement costs might be prohibitive if you have to keep replacing them.

Whatever you decide, do it properly...do it legally. Along with the rentals, TEACH your renters to dig and fill their holes (even at the beach and under water) and to take ALL their trash finds with them to dispose of properly.

Good luck!

 

[Treasure_Hunter]

Do you hunt? Do you realize you can get a detector wet and it will still work for a few days before it dies completely so how are you going to know who got your detector wets?

No offense but your idea has lots of holes. Are you only going to have one detector of each model? Your going to have a lot of money tied up in detectors many of which are going to be damaged, repairs are expensive and net income is low....your average renter will not rent more than an hour if that long. Who is going to teach them how to use them? You don't learn an etrac or excal in 15 mins.....

 

[AC1955]

Putting stickers of warning on the detectors will not stop lawsuits. People can and will sue. I'm not a lawyer (I just play one on TV...LOL), but I'd be scared to death of being sued on a liability/personal injury issue. You'd need to carry some sort of insurance to protect you from these types of suits and from speaking with small business owners I know, the premiums can be exorbitant. Often times to finance a business, people put their home and all their savings toward the business. Can you risk losing your home/savings if you are sued and lose? Don't mean to put a damper on your project, but this is just something to think about. Any lawyers or insurance guys out there that can shed some light on this?

As I said before, good luck on your endeavor!

 

[Keppy]

I would say have insurance and like ...Terry Sol... said have only good used turn-and-go detectors.......For as i see in the thread here there are some making a go of renting out detectors..... I don't think i would go with the mid to top of the line detectors to rent out....

 

[LM]

Simple enough for the scoops or shovels,they would come with the rental rather than a extra charge. But yet again if they break it they pay for it. I would possible have up a ten rule board that they HAVE to look over and follow the rules. But if they don't I can't do much about it. If someone get hurt it would be a lawsuit that I would have to go into head on,maybe put some stickers on my products that say may cause injury and use at your own risk type of deal. I would have to have $50,000 or so just to start the rentals on the beach and wait to get the money for the store later. Or rent a small space on a board walk,never know. The whole thing is kind of like those games you pay a buck for to buy 20 rings to toss and try to land one on a bottle and win a stuffed animal or a guitar. It's a payment and a chance to get something good,not everyone may come back and do it again,but at the beach people come and go. Making it cheap would help it a lot I believe.

I don't know what kind of background you have in business but based on what you've written so far in this thread, it seems that 95% of your thinking is invested in focusing on 1% variables. In the pre-founding stage, your biggest consideration is quantifying enterprise viability, not thrashing around in some intellectual rabbit hole, lamenting about what you're going to do if someone breaks a detector. That's a cost of doing business, it's going to happen, it's not personal. You account for this with the application of smart math.

Some people might have a good business idea but they just don't have the right mind for actual business execution.
You should probably seek out a business mentor, someone who's experienced with the actual process of founding and operating a real world business and all the associated BS you have to do to make it tick, then determine if the financial risk profiles are such that makes the thing something even worth trying to begin with.

I'm gong to guess this is a no-go but god knows I've seen dumber ideas earn people decent side income.

Intuitively, a hole I see in your idea is the idea of renting different 'levels' of machines. There's an old saying in sales: "See John Smith through John Smith's eyes, you'll sell John Smith what John Smith buys..." The type of casual users who rent a MD from a beach rental service aren't going to know the difference (nor will they even really care) between a Minelab and an Ace 250. They just want something to stick in their kids hands that will keep them out of the water, so they don't have to worry about them while they're face down in the sand catching rays.

 

[TerryC]

Go for it! I have known a few people in really EASY businesses and people bang their foreheads and say, "Why didn't I think of that?" Let's not forget the Hoola Hoop, Slinky, and others that don't even make sense yet made MILLIONS! Then when you make millions, Obama can take your money, saying, "You didn't build that!" TTC

 

[CASPER-2]

FIRST CAME UP WITH THAT IDEA BOUT 10 YRS AGO - and have mentioned to a few people on different forums over the yrs
I think a couple of dealers tried it for a while out of a van - if youre a dealer - you already have a salesman license and tax # - hopefully
youre better off buying like Garrett 150's or 250's - if youre not a dealer - you might want to go thru Kellyco and see if you can buy a bunch and get a few of those free ones for spending so much - water hunting is hard - so i would not even offer one - but would have 1 or 2 on hand if someone did lose a ring - you could rent your services to find it instead of the machine - guy or guys that I think tried this - did 1/2 day full day rentals - hourly thing is a pain
you do like $20 for 1/2 - $40 for full - they have to pay with valid credit card and you tell them # will be held and charged if machine is lost or stolen
or broken
I would get some cheap scoops or digging tools - once again if you go thru Kellyco - you could get some freebee ones possibly
if you want to work out a cash accepted thing - people would have to still leave credit card # or license with you
if youre at a big beach like South Beach Fla. you could make some money at it Im sure if you promote it just right and use your head - dont go over board
take it slow - like maybe 4 machines - you dont have to get any big boy machines - these people are going for fresh drops - and with higher tech machines - you will have to answer more questions - more headaches - keep it simple - now if you want to have a better one or one of your own hidden for the occasional - actual TH'er that is on vacay and did not bring his machine - you could do that and charge $25 1/2 $50 for full day
Good Luck