rental business ideas

The equipment rental business is a near recession-proof industry, and is on its way to reaching the $335 billion mark by 2025. The introduction of new technology and businesses makes it easy for Customers to rent practically anything while saving over the price of buying for practically everything, from construction equipment and cars to fashion accessories like jewelry and clothing.

In this article, we will share the hottest rental business ideas emerging today.

1. Fashion & Costume Rentals

fashion rental business

Few industries and consumer tastes change as fast as the demand for fashion & apparel. For the majority of customers, renting fashionable luxury dresses, bridal wear, and formal apparel for one-time events such as weddings, corporate functions, and get-togethers makes perfect sense. Fashion rentals provide the Customer to option to “try before they buy” to get a feel for how the items “feel” in real-world situations. Plus, fashion has a short-term but significant resale value, allowing the fashion rental company to keep fresh inventory while recouping a tidy portion of their investment upon the sale of the garments.

There is also an opportunity to serve Customers in the arts community with items such as cinema-quality costumes for theatrical productions, like films, TV, plays and even online content. Cosplay and other fancy dress events also represent an opportunity to serve customers with high-quality garments with a relatively stable demand from season-to-season.

Our research reflects the fashion and costume rental niche is growing at a compound annual growth rate of 8.7% for the next several years, nearly doubling its market size by 2025.

2. Textbook Rentals

textbook rental business

The cost of a college education is rising like a rocket, and the cost for supplies and textbooks

growth rate of textbook rental business

are rising at a similar rate.
Textbook rental businesses can provide a value to local students by curating book lists by instructor/professor and class as well as immediate pickup.

3. Dumpster Rentals

starting a dumpster rental business

Junk hauling has become a huge industry in recent years, primarily driven by home/office renovation and lifestyle-downsizing trends. As Customers and businesses seek to get rid of no-longer-needed items, the only feasible solution for headache-free disposal is dumpster rentals.

The beauty of operating a dumpster rental business is the relatively hand-free nature of the business. The dumpster rental company delivers the item and the item continues to provide rental income for weeks, months or even longer until the customer asks for a pickup. It’s like renting an apartment without the hassle of dealing with unreasonable tenants. Add-ons like regular dumpster haul-aways, delivery fees and upcharges for items like tires, mattresses and more provide a nice average order size for limited additional effort by the dumpster rental business.

When the rental is over, the dumpster is collected, emptied, and it is virtually immediately available for rent to the next customer.

4. Moving Supply & Container Rentals

supply rental business

Until very recently, scheduling a cross-town or cross-country move required a lot of phone tag, meetings, quotes and more. The considerations that complicate determining the cost of a moving container rental involve the term of the rental, the dropoff/pickup elements and the distance of the move. There is a better way for the new breed of moving and container rental businesses.

There are now software solutions for the moving industry that allow customers to input their exact requirements (including rental duration, dropoff address, move-to address (if applicable) and even storage at the rental company’s yard) and get an instant, firm price for the job. No quotes, no visits and immediate booking from their phone or computer.

As these types of rentals can span weeks, months or even longer, there are solutions that provide for “subscription” rentals, so that the customer is billed automatically each month, freeing the rental business owner to focus on growing their business (and not chasing invoices).

5. Heavy Equipment Rentals

equipment rentals

The building boom has put a stress on the available equipment on job sites, putting completion deadlines as risk. Combing that challenge with the recent supply chain issues, and you can see how sourcing, buying and waiting on purchased equipment to be delivered can jeopardize construction timelines. Even once the equipment is purchased and owned, most construction companies don’t want to burden of transporting, storing or maintaining heavy equipment, particularly if that equipment will remain idle for long periods of time between projects.

Renting equipment only for the duration of a project has become the standard for construction companies around the world. Projections for this sector indicate an annual revenue growth of around $5 billion, reaching $40+ billion by 2024.

6. Adventure and Camping Equipment Rentals

Camping Equipment startup

After 2+ years of global lockdown, Customers have realized the benefits of going outside to experience the great outdoors. Outfitting for a weekend or longer-term camping trip could cost into the hundreds of dollars, and the frequency that the equipment would be used wouldn’t likely justify the cost.

Camping equipment rentals are not subject to the wild swings in Customer preferences (like, for example, the fashion industry is), so rental inventory has a long lifecycle, earning the outfitter great returns on their investment.

7. Photography Rentals

photography equipment to rent

From influencers to corporate events, the need for high-quality imagery continues to grow. As digital photographic equipment improves, the price rises dramatically year-over-year. Renting is a great option for Customers, and rental companies can protect their investment with deposits, credit card holds and more. At the end of the equipment’s lifecycle, there is a robust reseller market.

8. Home Health Care Equipment Rentals

rent health care equipment

An aging population has spiked the demand for home health equipment rentals, from scooters and other mobility items to long-term hospital beds and more. Given the relative abundance of these types of items from wholesalers and clinics/hospitals upgrading their equipment, enterprising entrepreneurs and established health care providers can provide quality, low-maintenance home healthcare items for mid- to long-term rentals while providing an affordable option to patients over the purchase of the items.

9. Audio-Visual Equipment Rental

audio rental equipment business

“Checkout my podcast!” It seems like not matter what the industry, interest or pop culture phenomenon, there’s a podcast (or more). This boom in would-be broadcasters has driven the demand for long-term rentals/leases of audio equipment, from microphones to mix boards and more. Audio/Visual rental businesses are enjoying a big lift in rentals of professional audio equipment, mostly because Customers want to see if they can find an audience before they pay for all of the equipment necessary to get started.

10. Yard Card/Yard Sign Rentals

yard sign rental business

We have all seen them: birthday, retirement, birth, graduation and even divorce announcements on display for the whole community to see.

Yard Card rentals is the fastest growing rental niche out there, due to their near-unlimited potential for market growth, one-time setup and removal and zero maintenance associated.

Customers are proud to announce their accomplishments or milestones and Yard Card rental businesses can create an unlimited number of messages from a relatively low investment in letters, icons and accessories (like streamers, frames, balloons and more).

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