Wednesday, November 16, 2011
Rental Business Ideas
Working from home or a rented commercial space, you can actually earn quite a bit of profit just renting out almost any and every type of product or equipment imaginable. Rental businesses are popular because not everybody can afford to spend $30,000 on a recreational vehicle, but most can pay a few hundred to rent one for just a week.
Depending on the products or equipment you choose to rent, start up costs can be relatively high. But you can minimize the costs by purchasing these items in good condition, secondhand. Or you could even try to find the owners of the products you want to rent and start a rental pool, just keeping a percentage of the fees for providing management services.
Small items generally rent for 3-5% of their value per day, 10% per week, and 20% on a monthly rental. These small items can include movie props, musical instruments, camping equipment and some tools.
Some of the larger items you can rent out would include larger tools, watercrafts, portable hot tubs, construction equipment, recreational vehicles, office furniture and equipment, canoes and kayaks, and large camping equipment.
Whatever you decide to rent out (even if it's your own pool house for parties), you can make some money off of it. Be creative. You could even minimize costs by looking around your garage, backyard, and around the house to see what kind of equipment you already have on hand that you just rent out to people that need it. If you have a lake house with a boat and all of the bells and whistles, rent that out, and let the renters have full access to all of the equipment, including the boat, for an additional fee.
Use your imagination and see what you can come up with. As I've said with most business ideas, just have fun. Rent out something you enjoy doing yourself, because then you could use it as well.