An equipment rental business allows you to rent out tools and equipment to people who need it for their jobs or hobbies.
On average, equipment rental businesses make a profit of $30,000 per year.
To start an equipment rental business, you'll need to understand the equipment and market, have a reliable source of inventory, and establish a good reputation for customer service. Financially, you should have a plan in place to ensure profitability.
There are a few potential risks to making money with equipment rental. The first is that you may not be able to find enough customers to justify the business. The second is that customers may not return the equipment in the same condition as when they rented it, which could cause you to lose money. Finally, there is always the possibility that something could go wrong with the equipment itself, which could lead to expensive repairs or replacements. Overall, however, the potential risks of equipment rental are relatively low and the rewards can be high, making it a great way to earn some extra income.
📋Places to Start
1. Fat Llama — a UK-based peer-to-peer equipment rental marketplace. It allows people to list and rent out their equipment to others, making it a great way to make some extra money with equipment that would otherwise go unused.
2. Eqpme — a way to make money by renting out equipment to people who need it.
3. Kwipped — an online marketplace that connects businesses and individuals with equipment rental providers. It allows businesses to search for and rent equipment, and provides a way for equipment rental providers to list their equipment and services. Kwipped can be a good way to save money on equipment rental, and it can also be a good way to make money by renting out equipment.
4. Yo!Rent — a platform that allows users to list and rent out their equipment. this can be a great way to earn some extra money by renting out equipment you already own.
5. Dozr — an online marketplace for heavy equipment rentals that allows people to list their equipment for rent and set their own prices. this provides an opportunity for people to make money by renting out their equipment.