About Startup Costs
The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.
Business At A Glance
Rental Business
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
Choose a popular product--anything from purses to party tents--and rent it out for a fee.
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.