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music rental business idea!?

L

Law

Member

So my friend and I are thinking of starting up a small music equipment rental business where we offer DJ equipment gear. We are wondering for people who have started their own businesses, what are the steps we should take from turning this idea into the real deal. Also, what are the legal issues involved and how do we protect ourselves from damage liability and such. Any advice or thoughts is appreciated. My friend will post next about the specific equipment.:music:
 
the specific equip we have for rent are:

2 mackie srm450 - 400 watt speaks
2 mackie srs1500 - 600 watt subs
1 (soon to be 2) denon dn-s5000 - cd dj turntables (one of the best)

some high end mic (forget the exact model).

i think renting is hot cuz im working now and i dont have that much time to use my equip to the fullest. im worried since i dont want ppl breakin my stuff, or using the equip in the wrong way which would lead to the drastically shortened life of my equip. im very careful when it comes to care for all this stuff.

what do you guys think we should do? and how much would u pay to rent the speaker package (which would come with tripod stands (heavy duty ones) and all the wires necessary)? (charges before figuring the size of the party, etc) my friend and i would set everythign up and also take it away when the night is over.

in the future i would also get a really nice mixer (rane ttm-56i).

thanks for the info.
 
I imagine that the heavy usage that rentals get would drastically shorten the life of the equipment even if it's well maintained, but I may be wrong.
 
Well...you're gonna have to have insurance for this stuff. I'm not sure how much that would cost but I'd bet insurance on anything rented, would be expensive. Second...your gear sounds pretty nice. You should have some kind of "You brake it, you buy it" clause in your rental agreement. That will protect you against idiots who want to see what maximum volume sounds like. 🙂 You may even consider hiring a lawyer to help you write the rental agreement. Do you have a vehicle large enough to transport all this gear? I am also thinking..."How are people you rent to going to know how to use your specific gear?"

If you think there is a market for this...go for it! 🙂
 
yea i have a mode of transportation. its basically a fun idea (both of us already work full time).

we may definately give a lawyer a call, just to get details and such. that break it buy it clause sounds like a good idea.

any more post lunch ideas?
 
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