If you own an asset whether it is a car, furniture, sports & fitness equipment, construction equipment, air conditioner, coffee machine, apartment etc available for hire, lease and rent, then you should consider starting a rental-related business.
The rental business allows you generate revenue while making your asset available for rent to people who either lack the buying power or who simply want to save money for other purchases. Right here are 20 best, in fact, the most profitable rental business ideas for you:
1. Apartment rental business
People nowadays in an attempt to save money and have more flexibility prefer renting over homeownership indicates a study carried out by Harvard University. An apartment rental business lets you derive a constant source of income from paying guests on a monthly basis and through signing lease agreements with families.
You can right away start an apartment rental business if you already have built and furnished an apartment otherwise, you would require a huge investment for buying raw land and constructing an apartment upon it. If your personal budget is low, you may opt for a housing loan from a bank for the same.
2. Apartment referral business
If you are financially unable to shape your dream of opening an apartment rental business, then you may consider starting an apartment referral service business. This business will allow you make commissions while sending clients ( tenants ) to apartment owners.
3. Sports equipment rental business
Many people either locals or tourists love visiting places that allow them to enjoy various seasonal sports like skiing, snowboarding etc. It is really worth starting a sports equipment rental business if you happen to be living in a place that attracts enthusiasts for such seasonal sport because the matter of the fact is that not everyone is able to carry their own equipment.
4. Fitness equipment rental
Many people prefer renting fitness equipment such as treadmills, stair steppers, stationary bikes etc over buying simply due to expensiveness. Given that need, you may consider starting a fitness equipment rental business.
5. Construction equipment rental
Many companies that are involved in construction activities frequently in an effort to save costs rent construction equipment. If you own construction equipment, you certainly should think of starting a construction equipment rental business.
6. Vehicle rental
Vehicle rental business thrives in highly populated areas and near tourist destinations. If you have a vehicle in good condition, you better put it for rent to tourists and therefore make money.
7. Wedding rental
Opening a wedding rental business is another great business opportunity you can start in the rental industry. You can generate income on a consistent basis because weddings occur all year along.
8. Houseboat rental
If you are an owner of a houseboat, you can profit from it while making it available for renting near water bodies such as lakes, rivers etc. In case, you don’t own a houseboat but you still want to be connected with the trade, you can earn your commissions while referring potential customers houseboat owners there.
9. Musicals rental
Opening a musical rental business can potentially be profitable if your local region has schools providing music programs. However, the upfront costs involved are high.
10. Fishing equipment rental
Targeting fishing equipment rentals to both domestic as well as international tourists is another highly thriving money-making opportunity for aspiring entrepreneurs in the rental industry today.
11. Renting Climbing Gear
Offering climbing gears on rent to adventurous domestic and international tourists is a highly untapped niche aspiring entrepreneurs may think off starting in their areas.
12. Renting Golf Gears
If your locality has the facility of golf, then one of the best rental options you should consider starting is golf gear rental business to the national and international tourists.
13. Air Conditioning Renting
Providing air condition facility for rent to temporary settlers, traveling businesses etc is also considered a thriving opportunity these days almost at all places.
14. Arcade Game Renting
Renting arcade game equipment to various kinds of people for their parties, carnivals, corporate events, festivals etc. is yet another fruitful business opportunity for aspiring entrepreneurs these days.
15. Audio Equipment
One of the most thriving as well as highly profitable business idea in today’s rental industry is starting an audio equipment rental that would charge people for hiring audio equipment for their special events such as meeting, outdoor event, panel discussion, open event etc
16. Baby Furniture Renting
Due to the fact that the furniture for babies becomes useless as the baby grows, many parents nowadays consider renting them rather buying new ones. So offering baby furniture for rent to these parents can make you earn a decent income.
17. Book Rental Business
The combination of having quality books focus on the target market and a good marketing strategy can make you able to earn high by starting a book rental business in your locality.
18. Cameras Rentals
If you have few cameras, you can offer them for rent along with accessories to those who can’t bear to purchase a new one for temporary events, parties etc
19. Renting Coffee Machine
Buying and renting coffee machine is another highly lucrative business opportunity in the rental industry aspiring ones can consider starting in their areas.
20. Conference Room Renting
There are a large number of companies who are looking for renting the conference rooms in order to conducts meetings, employee training etc. So aspiring entrepreneurs can consider starting a conference room rental business.
21. Costume Rental Business
One can also put into consideration starting a costume rental business that earns high bucks by renting costumes to the schools, theater groups etc
22. Dumpster Rental Business
Dumpster rental business is a perfect option for those eco-minded entrepreneurs who are thinking of making money in the rental industry and at the same want to be the part of environmental protection.
23. Portable Toilet Rental
You as an entrepreneur might also consider providing portable toilets especially during construction activities, carnivals, weddings etc
24. Office Furniture Rental
Since it would cost high if companies look for buying new furniture to make their office look welcoming. Because of it most of the companies, if not all always look for rent based office furniture.
25. Artificial Flowers Rental
Since artificial flowers aren’t something like that take many days to bloom and they do not require re-arrangements like natural flowers. That is why they have a great in occasions like weddings, parties, anniversaries, birthday parties etc
Important: Remaining opportunities will be added soon…