If you are looking for a new and solid business opportunity, consider investing in the rental business. Whether you are renting scuba equipment or hotel properties, the rental industry, and owning your own business can make you a lot of money.
In addition to great income potential, the rental business is pretty straightforward. Some of the more common things to rent range from watercraft and furniture to office or construction equipment. As long as there is a need, you can make money from renting anything.
The rental business works as people pay for the use of things that they do not want to buy and own themselves. Many times people just need something just once, like a special tool or piece of equipment.
Any product that a consumer will have to otherwise buy on their own can be rented. This business is mutually advantageous to both you and your customer. You are providing a service for a fair price while also earning some income on the items that you are renting.
You can start up your business either from some commercial property or even from your home. As soon as you buy your start up inventory, do a little advertising and set up your business, you will be ready to generate some serious cash.
One thing to beware of, your start up costs can be a little high, depending what you are going to be renting out. You can save some money by looking for items that are used but are still in good shape.
Keep in mind that prices are standard for smaller items. Most companies charge between 3 and 5 percent of the item’s original value when they rent by the day. If they go by the week, then the charge should be around 10 percent. For monthly rentals, the common pricing is to charge 20 percent of the original value.
These are great pointers to keep in mind as you explore the possibility of getting involved in the rental business. Best wishes as you choose this option.
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Clock, Stephanie . "The Rental Company Can Earn Lots Of Income." The Rental Company Can Earn Lots Of Income. 2 Jul. 2010. uberarticles.com. 1 Aug 2014 <http://uberarticles.com/finance/investments/serious-income-potential-from-a-rental-company/>.
APA Style Citation:
Clock, S (2010, July 2). The Rental Company Can Earn Lots Of Income. Retrieved August 1, 2014, from http://uberarticles.com/finance/investments/serious-income-potential-from-a-rental-company/
Chicago Style Citation:
Clock, Stephanie . "The Rental Company Can Earn Lots Of Income" uberarticles.com. http://uberarticles.com/finance/investments/serious-income-potential-from-a-rental-company/
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