+- Business, Investment, & Insurance Forum (https://investmentforums.net)
+-- Forum: Business Forums (https://investmentforums.net/forumdisplay.php?fid=5)
+--- Forum: Small Businesses (https://investmentforums.net/forumdisplay.php?fid=19)
+--- Thread: Have You Thought of Tool Rental Business (/showthread.php?tid=650)
Have You Thought of Tool Rental Business - kobbydavies - 01-12-2024
Tool rental. There is some investment but not that large. Start small and grow organically. The margins are crazy - people will pay 20% of the cost (or more) to rent for a day or two. After 5 times pure profit and cash flow. you basically sell the same tool over and over. Customers just don't want to store it and so will pay for access. You can easily check this by visiting tool rental outlet and ask then how much to rent and compare to cost.
Suggested tools mitre saw, compressors, leaf blowers, tillers, lawn edgers, tree trimmers, cement mixers and on and on. ... Anything in your market that is medium size and seasonal.
Get a damage deposit.
Also movie companies look for props and will rent for 50 % of cost...
When inventory is semi worn out or dated just blow it out at 25 % of new.
RE: Have You Thought of Tool Rental Business - Dismal_Bliss - 01-20-2024
This is actually a great idea if you have the funds to get some equipment up front. There are certain tools that I rarely need, and I would rather rent them than invest in a purchase. Many people are of the same mindset.