The rental industry continues to soar, with new businesses being added each day. There are many benefits to owning this type of business. These benefits include the potential for high profit, flexibility, and endless possibilities. Consumers are always looking for ways to save money. One way they are saving money is by renting high-ticket items instead of purchasing them right out. And, if they are not going to be utilizing the item more than once, then it would only make sense to rent it. Below, you will discover a list off the best small rental business ideas with high profit.
American Rental Association Report
The American Rental Association (ARA) recently released a report that showed a 5-year forecast for event and equipment rental revenue. According to the report, by 2020, revenue from rental businesses is expected to reach $58.5 million and by 2021, $61.4 million. So, if you are considering starting a rental business, you should not hesitate to move forward with your idea. If you get started now, you can get in on the action.
20 Profitable Renting Business Ideas
Rental businesses have been around for a long time and it is pretty easy to understand why. Not everyone can afford to make those big purchases. Could you afford to buy a wire feed welder that you are only going to use one time? Probably not and even if you could it would simply be a huge waste of money. This is exactly why rental businesses have and will always continue to thrive. Below, you are going to learn about the most profitable rental businesses that you can open in today’s world.
1. Camera & Gear Rental
Everyone has those special moments that they want to capture. Maybe it is a son’s wedding. Maybe it is a daughter’s sweet sixteen. Whatever the situation is, there is a variety of recording options that you have available to you. However, when it comes to cameras and lenses, you simply cannot beat the DSLR camera. The camera is so popular because it contains a mirror that reflects the light coming from the lens up into an optical viewfinder. It does this by utilizing either a prism or a series of mirrors. This unique setup allows the user to see exactly what they are shooting, right through the lens. The only problem with these cameras is that they are expensive.
Not only can you make money from DSLR camera rentals, but you can also rent out sewer cameras and thermal imaging cameras. Pipes and sewer are not immune to problems. These cameras can reveal where clogs and leaks are. The only downside to a business like this is that these cameras are expensive and intricate. You will not only spend a lot of money on equipment, but you will spend a lot of time learning all the features so that you can explain them to your clientele.
- High demand
- High-profit potential
- Most top brands are backed by an extended warranty
- High potential for theft and misplacement
- Frequent maintenance may lead to a lot of downtimes
2. Vehicle Rental
Vehicle rental is in high demand in big cities. This is a great idea for a new business. If you locate your business in a convenient location, you could make a very high-profit year after year. Car rental, bike rental, kayak rental, and boat trailer rental have the potential for a high return on investment.
- Car rental is demand year around
- Franchise opportunities
- Reliable income
- Must be conveniently located near airports, government facilities, and hotels
- Will require a lot of maintenance
3. Equipment Rental
Rental equipment is another potentially profitable business because it is in high demand. Forklift rental, backhoe rental and scissor lift rental are just a few suggestions. Hand, power and automotive rental equipment are also in high demand. Most of these products carry a high price tag, which is consumer prefer renting them to buying them straight out.
- Endless possibilities
- High demand year around
- Very versatile
- Most of this equipment does not require experience or special skills
- Will require routine maintenance
- Heavy equipment is really expensive
4. Drone Rental
Drones are growing in popularity, even though the Federal Aviation Administration continues to restrict flights in some locations. These small aircraft have the potential to make a great rental business. Camera drones can cost anywhere from $30 to $1,500, depending on the brand. Underwater drones are a little more expensive, averaging about $1,800. One of the most expensive drones on the market is the Adorama Camera xFold Dragon X12 RTF U11. This drone costs around $31,000.
Many people would love to own a drone but they shy away because of the high price. This is why a drone rental business could flourish. If you can meet the supply and demand for rental drones, you could earn a very high profit. Experts forecast that the drone industry will hit over $1 billion in sales by the end of the fourth quarter of 2019.
- High demand
- Being incorporated into the real estate, agriculture, and photography industries
- Endless brands to choose from
- Very versatile
- In demand year around
- High damage potential
- Requires a lot of maintenance, resulting in more downtime
- Operators must have a pilot’s license and FAA-approved 333 exemption
5. Party Equipment Rental
Regardless of the time of the year, people are always able and willing to plan parties. Maybe it is a birthday party. Maybe it is a wedding reception. It doesn’t matter because people are always going to need party tents. Throw in bounce houses and karaoke machines and you will be able to offer a whole party package that your consumers won’t be able to turn down. Bounce houses are extremely popular amongst the kids and you can charge as much as $80 an hour. You combine this with the $500 that you can charge for a tent big enough for 40 people and you will truly be making some money.
- People will be partying year-round
- You can rent multiple party items like karaoke machines and bounce houses
- You will need a crew to set up these items and take them back down
6. Clothing Rental
Do you have a closet full of old party gowns, suits, or accessories that you no longer use? Well, people are always looking to rent these items for big events. Not everyone wants to drop money on a dress or suit that they are only going to use a few times. This simply wouldn’t be practical for most people and this is why clothing rental businesses will thrive until the end of time. The best part about starting one of these businesses is that you can rent out your clothing or buy secondhanded at discounted prices. People are willing to pay as much as $25 to rent a dress worth $250.
- Save money by renting out your clothing
- Shop at discount stores to find suitable clothing
- You will accumulate a lot of repair and dry-cleaning bills
- You will need a diverse selection
7. Jet Ski Rental
Jet skis are extremely popular machines during the hot, humid summer months. Unfortunately, not everyone can afford to make such a lavish purchase. Jet skis are popular, but they are expensive. Owning a jet ski not only requires you to purchase the jet ski itself, but you will have to purchase a truck and trailer to haul it as well. This is why most beachgoers just prefer to rent jet skis.
- Extremely popular during the summer
- Appeal to just about everyone
- Jet skis will require immense amounts of maintenance
- You might only be able to rent seasonally
8. Portable Hot Tub Rental
Hot tubs are great amenities. There is nothing like soaking in a hot tub on the porch over a long weekend. The only problem with hot tubs is that they require a lot of maintenance and don’t nearly get used as much as you would think. You might end up dropping a thousand dollars on one of these devices and never end up using it as much as you thought. It might not seem like it but people are always looking to rent hot tubs.
Maybe they want to test the waters before making a full purchase. Maybe the renting party wants to rent a couple of hot tubs for a huge party. Whatever the situation is, people are always going to be looking to rent hot tubs. You can charge as much as almost $400 a weekend just to rent one hot tub.
- Hot tubs can be used year-round
- These are extremely popular for parties
- You will have to learn to install the hot tub
- You will need trucks and trailers for delivery
9. Dumpster Rental
Whether it is a remodel or a roof replacement, dumpsters can come in extremely handy. When people are moving or remodeling their homes they are going to accumulate large amounts of trash. Sure, they can haul this trash to the local dumpsite, but this might not be realistic depending on where they are located. Not only this, but some people don’t even have the means to transport the trash there. This is exactly what dumpster rental businesses will always thrive.
People can rent these stationary dumpsters where they can freely dump their trash. When the dumpster is full, you can come back and collect the trash.
- People are always going to have trash
- Large contractors oftentimes rent the dumpsters for long construction jobs
- You will need a diverse range of dumpsters
- You will need several trucks to deliver and pick up the dumpsters
10. Book Rental
Despite what you may or may not have heard in the news reading is still alive. It was reported that more people today are reading books than they have ever before. Not only are people reading books, but they are reading them online. With the Internet, users have access to over hundreds of titles and authors. Libraries are still great institutions, but why waste the time traveling back and forth to the library when you can just rent books online. This is exactly what many consumers are thinking and this is why online book rentals will thrive.
One of the best things about renting books is that you can go as diverse as you want. If you want to rent out textbooks, you have the option to do so. If you want to rent out thrillers and mysterious then you can rent those books out as well.
- You can attract a diverse audience by renting out several genres of books
- Don’t need physical copies of books if you are going to rent them online
- You can take one copy and distribute it several times online
- You are going to need a mobile-friendly platform
- There will be immense competition online and you will have to find a way to stand out
11. Movie Rental
During the past few years, movie rental companies have fallen by the wayside. Nevertheless, you can still make some money in this business. You just need to think outside of the box. Whether you’re renting movies to consumers or corporations, you’ll make money and the risks will be very limited. After all, buying movies won’t break the bank. If the movie is new, you can rent it out for as much as $7. There is very little that can go wrong here.
- Very low overhead
- Your customer base will be massive
- Few risks to worry about
- Replacements will be very inexpensive
- Streaming can hurt your business
- ROI isn’t going to be massive
12. Sports And Fitness Equipment Rental
Renting fitness equipment is a good idea. Many gyms do not want to own the equipment. If you rent it out, you’ll be able to make plenty of money. However, this business requires a lot of effort on your end. After all, you’re probably going to be responsible for keeping the equipment in good condition. Nevertheless, it’ll pay off in the long run. You can rent out your equipment for as much as $95 a month. Of course, the price will depend on the quality of the equipment in question.
- You’re helping someone get healthy
- This equipment is generally very durable
- You can rent out the equipment to other companies
- Regular maintenance is required
- Transportation can be an issue
13. Toy Rental
When you have children, your life will change immensely. You’ll begin putting your children first. When their birthday comes around, you’ll want to give them the best party humanly possible. With this in mind, you’ll probably be eager to provide them with many toys. A good bounce house is one option. Well, a toy rental company would solve your problem in a heartbeat. There are plenty of toys that you can rent out. For a bounce house, the average price is going to range from $100 to $1,000.
When the client opts for a bigger and more elaborate bounce house, you’ll be able to increase the price. Of course, this comes with great risks too. Nevertheless, running a toy rental business is a good way to make a living.
- Parents are more willing to spend more on their children
- You’re actually making someone happy
- The toys you can rent out are endless
- The revenue can be substantial
- Kids can be destructive
- Transporting some toys can be tough
14. Furniture Rental
If you’re interested in getting involved in a rental business, you should consider furniture. Pretty much everyone needs furniture at some point. However, most people are going to buy their furniture. Therefore, you will most likely be renting out bulk furniture to people preparing certain events. For instance, you can rent out chairs and tables for upcoming weddings. Alternatively, you can help out companies that are going to be hosting conferences in the future.
These are essential events and your clients will be willing to spend a little more. This is a good thing for you. The amount you’ll be able to charge will depend on numerous factors, including the type of furniture and the type of material. For basic chairs, you can charge roughly $1.25 apiece. For higher quality chairs, you can charge around $3. If your clients want to go all out, you can rent out chairs with cushions for $8 apiece.
- Clients will need a furniture in many occasions
- A good business that won’t be impacted by the weather
- Little to worry about since most items can be replaced easily
- Transportation can be a hassle
- You’ll need to chair some pieces frequently
15. Power Washer Rental
Using a power washer is one of the best ways to wash your house or car. This is why so many people are eager to buy these machines. The only problem here is that they’re very expensive. Therefore, they’ll be much more likely to rent them for a short period. This is where your business enters the picture. You can rent out the power washer and charge your clients a pretty penny. You’ll be able to line your pockets while the customer does the dirty work.
Typically, you’ll be able to make as much as $60 a day per machine. If you manage to rent it out twice a day, you can make $120 per day for that specific machine. Therefore, the return on investment is pretty substantial.
- Pressure washers aren’t too expensive
- These machines will not require a lot of maintenance
- Great around the calendar years
- You probably won’t feel obligated to insure your pressure washers
- More competition with hardware stores
- You may need to provide your client with instructions
16. Copy Machine Rental
While many people have a copy machine, those personal machines aren’t going to cut it. They have limited capacity and the supplies are going to run out very quickly. Plus, they’re very slow. A lot of people need to copy documents with lightning-fast accuracy. If you have access to many copy machines, you should definitely rent them out to the public. Doing so will help others and ensure you’re able to make yourself a little money. This is a good choice but you’re going to be required to buy a lot of supplies.
You will need paper and ink. You can charge your customers these fees but that might send them elsewhere. For a machine that costs $1,000, you can charge $25. If the machine costs $12,000, you can likely charge $300 a month.
- Many businesses and organizations need them
- You can earn a lot with just one client
- Copy machines don’t require a lot of maintenance
- Great anytime and anywhere in the world
- You’ll need to replace ink and paper regularly
17. Ice Cream Machine Rental
During the hot summer days, people will want access to cool, delicious ice cream. It’ll cool them off and satisfy their sweet tooth. Can you see where this is going? If you are confident enough in yourself, you can actually buy ice cream machines and start renting them out. This is a pretty effective way to make money but there are a few cons to note. For starters, a lot of people do not like ice cream during the winter. This is going to be a seasonal business unless you live in a location that is warm throughout the year.
You have to worry about the supplies. You’ll need milk and other things to keep your clients happy. That can increase your final overhead a tad bit. You can expect to make around $275 a day if you play your cards right.
- Machines are pretty affordable
- Ice cream machines are long-lasting
- Clients shouldn’t need too many instructions
- Seasonal in many areas
- Will need to buy multiple supplies
18. Popcorn Machine Rental
A lot of people go all about when it comes to planning a birthday party. They’ll set up a big screen outside and prepare popcorn. Well, this is going to be very difficult without a popcorn machine. You can eliminate their problem by renting out popcorn machines to people in need. This is a good way to make money, but it can be somewhat of a headache as well. The biggest problem is that you’re going to have a lot more expenses than you might with the alternatives.
After all, you’ll need to provide your clients with popcorn and butter. Depending on the capacity of the machine, you can generally rent it out for as much as $60 a day.
- Machines are pretty inexpensive
- Doesn’t require too much maintenance
- Can generate a good income
- Machines will be in high demand
- Will need to buy supplies
- Quality control will always be a concern
19. Coffee Machine Rental
Whether they’re holding a seminar, party, or family reunion, your clients will want to keep their guests happy. They’ll provide their guests with food and drinks. If the event takes place in the morning, there is a good chance that these individuals will yearn for coffee. This is why the planner is going to invest in a coffee machine. Or, they could rent one from you. This is why you should think about getting involved in the coffee machine rental business. Coffee machines aren’t too expensive.
Therefore, you can purchase multiple machines and begin renting them out right away. Nevertheless, it is still a good idea. Depending on the condition and model that you’re working with, you can likely rent out your machines for as much as $10 to $16 a week.
- Great throughout the year
- Suitable for multiple occasions
- Not much can go wrong
- Probably won’t need to insure your equipment
- Return on investment isn’t great
- Will need to buy some supplies and beans
20. Conference Room Rental
Ultimately, there are tons of companies, corporations, and non-profit organizations that hold conferences from time to time. You’ll want to use this to your advantage. Most of these companies have money to spend and they’ll be happy to rent conference rooms. If you have rooms like this, you’ll certainly benefit from renting them out. Just remember that there are some risks involved. If things get a little too feisty, there is a chance that your rooms are going to sustain damage. This is something you have to be extremely cautious about.
The average price to rent a conference room is going to be anywhere between $20 and $75 an hour.
- Pretty self-explanatory business
- Can generate a high income
- Your property will generally be safe
- Not seasonal
- Overhead is more expensive
- You’ll likely need insurance
When it comes down to it, your possibilities are pretty much endless. You can play around with many of these opportunities. Nevertheless, there is a good chance that you’re already set up for one or more of them. So, what is the best rental business to start? It really depends on your current situation and budget. Just remember to be cautious to ensure that you do not get scammed along the way.