Start a paddle board rental business in your local community with the help of Fin.
Fin can take the headache out of starting your own rental business. Fin doesn't just streamline the rental process for users but can also streamline starting your own rental business! Fin takes all the work out of sourcing boards, finding employees, handling payment processing, insurance and keeping track of inventory. All franchisers have to worry about is finding a place to conduct business and Fin can handle the rest.
Fin brings the value of SaaS and vertical integration to the rental shop. We handle all product sourcing and design on the physical side of the business along with all the software on the digital side.
In order to keep rental costs low and easily accessible to renters Fin has taken every step possible to reduce costs. Boards, trailers, paddles and surf leashes are all bought at wholesale prices in bulk and the savings are distributed among franchise owners. A paddle board trailer setup can be launched for an initial cost of around $5,000
All boards have embedded LTE GPS tracking devices inside them which require monthly data fees. Servers and Insurance also contribute to the monthly operating. Initial estimates for the monthly operational costs are around $100/month.
Fin takes a set percent of every rental to help pay to maintain apps and servers. The set rate still has to be worked out but will probably be around 10-15%. On top of that there is also a payment processing fee on each transaction that Fin's payment processor takes.
Boards will need to have their tracking device charged periodically. A full charge can usually last for a few months. The bluetooth padlocks also need charged every few months. Both can be monitored via the owner app. Boards will get dinged from time to time and might require some light board repairs.
Customers can chat in real time with the owner via the Fin customer app and the Fin Owner app. Customers can request refunds, notify if any equipment is missing or damaged or ask for help for any general confusion.
Owners can view all rentals that are currently active or have ended from inside the app. From there owners can manually update rentals if issues arise. Rentals that have ended will have a customer attached image showing the state of the trailer where owners can verify if anything has gone awry with the trailer.
Every trailer and board is GPS tracked over LTE. Owners can get updates on the current battery life and location history of all Fin devices. Easily keep tabs on all your Fin devices and when to have them recharged.
Track all your payment activities from the Owner app. Keep tabs on which days of the week or time of day has the most rentals to better understand customer needs.
Fin has created the world's first IoT trackable paddle boards to ensure that owners can always keep track of their inventory. Boards can be tracked for multiple months on a single charge. Tracking works anywhere there is an LTE signal and has a range of anywhere in North America. With asset tracking system you can be confident you will always know where your equipment is located.