Rory Maynard has owned and operated Edge UTV Rental (Legendary Investments, LLC) also known as Edge Sports located in Lead, SD for many years. Edge Sports is a ski and snowboarding shop and the site location has immediate access to the Black Hills National Forest.
Rory thought it would be a great idea to do UTV rentals, based on his location, and because it could operate outside of the snow sports season. Additionally, a UTV rental business within the area had just ceased operations. He felt that it would be immediately beneficial to the area as it would create year-round jobs for Rory’s seasonal, ski-shop employees.
In mid-May 2020, Legendary Investments, LLC was approved for a $125,000 loan to purchase UTVs, a trailer and various supplies to start-up a UTV rental business. By mid-June, they were taking reservations to rent their units. It didn’t take long for popularity to catch on and Edge UTV Rental had an average of 8 machines rented every day for either half or full day durations.
Rory shared that they could have been renting out twice the number of machines they have available on a daily basis. From June 15 – October 15, Edge UTV Rentals received 1,198 phone calls requesting reservations. Based on availability, they were able to fulfill 497 of those reservations during those four months. With the COVID-19 pandemic, people were looking for fun opportunities to be outside while still being able to maintain social-distancing and UTV rentals presented that opportunity. Edge UTV Rental became so busy that Rory had to hire a full-time mechanic to keep up with the general maintenance and needed work on the machines. From mid-June through October, Edge UTV Rental produced enough cash flow that Rory is considering an expansion for next season, which includes building a new shop and purchasing more machines.
Part of the financing package Rory received included West River Foundation’s revolving loan funds they received through USDA Rural Development’s Intermediary Relending Program (IRP).
Success story shared through West River Foundation.