What do you think of this idea?

[APNEAJOE]

Hi all im based in the uk and have hit on a business idea, never done anythink like this before so would like opinions and advice..
Basically my idea is to offer underwater cameras and video cameras on hire to the general public, obviously my main target will be the ever growing numbers of recreational scuba divers but i guess also holiday makers water sports enthusiasts etc. At present i have found nly one company that even comes close to doing this and they offer a casing for hire for a specific camera. I'd hope to offer a range of cameras both still and video and also film and digital as complete packages ready to go as well as casings so they can use their own cameras... perhaps with a view to expanding to include other expensive related 'toys' like underwater scooters, a dive boat or other equipment. Any ideas on how to take my idea to reality and how successful it sounds to you all would be appreciated.
Joe

[trainershack]

sounds good joe but remember you're going to need a lot of funding. if you don't already have this start up capital you will need to borrow it and be under no illusion that this is easy (although possible of course with the right ideas and plans). you should also look to see if there may be any grants/government funding available in your area.

would the business be seasonal? if so don't forget to devise contingency plans for your quiet/shut down periods.

hope everything goes well for you

[APNEAJOE]

Funding for this product would be my biggest problem, i will freely admit i dont have the best credit record either so i forsee it as being a big hurdle.. i'll see what my business plan says im going to require. As for seasonal to an extent yes it will be or i forsee it as being a lot busier over the summer period obviously there will be more people doing the activities who may wish to utilise the service. As for shut down i think there would still be a few orders over the winter season, especially if i can some how incorporate users taking the product abroard for holiday. Apart from my funding issues the only major problem i forsee is facilitating the delivery and collection of items, although i guess a normal courier service will be able to deal with that and i will need some form of insurance/deposit on items to prevent theft and cover me for loss or damage. All ideas and opinions are greatly appreciated as i probally stated before this is in the infant stages, and im a definate newcomer! Joe

[Joyous]

Sounds like a good idea but as trainershack above says the capital outlay will be considerable as well as the ongoing insurance costs. You also need to consider the risks involved, ie the risk of the equipment getting damaged, the risk of the equipment not being returned, etc. This might explain why there’s no one else doing it.

The casings idea sounds safer but even that carries risks, e.g. the risk of getting sued if the casing leaks and damages someone’s camera.

Not trying to rain on your parade, just pointing out that some thorough planning and “what if” analysis is needed on this one before diving in (no pun intended).

Regards

Joy

[trainershack]

i got the impression that you would be site based and you were in an area where diving is popular.

i don't like the sound of that expensive equipment being passed backwards and forwards through the mail. you would have to make it easy for the customer to get the camera back to you otherwise they may see it as too much effort, especially if they have post holiday blues! also, you would have to watch how long it takes for the customer to return each item to you as i'm not sure if you would be able to charge them penalties very easy for late returns and these would hold your business up.

as joy, i'm not trying to put everything you say down, just pointing out the bad points because they're sometimes harder to see than the good.

[TWD-Tony]

It might be an idea to throw the image processing development in with this otherwise people will keep the camera's using the excuse that they haven't had the pictures downloaded / developed yet!
An great idea would be to find a way so that ONLY YOU can get the images off the camera's - that way people would have to return them quickly to get their pictures off...?
Also - you might want to try going into partnership / or get a deal going with local diving schools... They could promote your service to their clients.

[levista]

My gf says when she was scuba diving in egypt she could buy an underwater `disposable` type camera locally for a tenner, which worked brilliantly. the idea might be out there already m8!

[trainershack]

Originally Posted by TWD-Tony

An great idea would be to find a way so that ONLY YOU can get the images off the camera's - that way people would have to return them quickly to get their pictures off...?

that is a good idea!

[cygnus]

this is a brilliant idea... in fact one of those ones which have yet not been exploited by many...The best part about this business prospect is that unlike other propositions, this one is not yet saturated. If you can actually start off with this then nothing will stop you from minting money.........All the best for your project....