Business Idea Center:
Rental Business

Business Overview

Working from home or a rented commercial space, you can earn big profits renting just about every and any type of product or equipment imaginable. Top rentals include tools, small watercraft, portable hot tubs, construction equipment, recreational vehicles, movie props, musical instruments, office furniture and equipment, canoes and kayaks, and camping equipment. Rental businesses have long been a popular moneymaker, mainly because although not everyone can afford to purchase a $50,000 recreational vehicle, most people can afford to shell out a few hundred to rent one for a week. Start-up costs can be high depending on the types of products and equipment that you purchase to rent. However, you can minimize costs by purchasing these items in good condition secondhand. Or you may even elect to find owners of the products you want to rent and start a rental pool, keeping a percentage of the fees for providing management services. As a general guideline, small items typically rent for 3 to 5 percent of their value per day, 10 percent per week, and 20 percent on a monthly rental.

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