Building your own rental business is a rewarding path to head down. Becoming self-employed allows you to have full control over your income including how much money you bring in and how you’re paid. Owning a rental business also brings you joy in knowing that you can help others in need.
When brainstorming why type of rental business to own, start thinking about some rental business ideas that you’d find beneficial yourself. For example, has there been a time when you were in need of a certain item while out and about but didn’t have access to it?
Start there and then continue reading below for some of our own ideas to help spark inspiration!
1. Bicycle Rentals
Bicycle rentals come in handy for students on college campuses, and those looking to explore a city or area. To start your business, all you’ll need is a few bicycles, a place to store them, and a small office. You can then begin to rent them to students who can’t afford a car or who live on campus and have no need for a vehicle.
You can also consider setting up shop near beautiful parks and other outdoor locations. Visitors will want to rent a bicycle to get exercise down the park trails or to help them get around town easier.
Be sure to take a deposit from your renters and a copy of their ID and then let them go on their way! Don’t forget to own insurance as well.
2. Folding Chair Rentals
Folding chairs might seem like an odd rental item, but more people need them than you might believe. Folding chairs are in need when on the beach, for weddings, and for other special events or occasions. Chair rental spaces can be simple carts set up on the beach or you can have an office depending on who your main clients are.
Deposits and IDs should be taken, and you should also consider folding chair covers to help protect your product when not in use.
3. Book Rentals
Book rentals come in all shapes and forms. If you think a book rental company is right for you, then the next step is to decide what types of books you want to rent out. You can consider renting out textbooks to college students or renting out children’s books or other types of books for people wanting to find a good read.
This is something you can do entirely online. Allow customers to choose a book and mail them out to them with a given timeframe before they need to return them. You can include the shipping label and envelope so customers don’t have to pay to ship them back.
What Rental Business Ideas Stand Out to You?
Is there an idea listed here that stands out to you? Consider taking on the task of creating your own bicycle rental or chair rental to help others in need. Remember, these rental business ideas are just a few of the many options you have.
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