Starting a rental Business

Tandem axle trailers

Trenchers

Pipe cutters and threaders

Lawn seeders

Lawn dethatchers

Compact tractors + rototiller or disk

Power post hole diggers

Pipe cutter

Pipe threader

Local dealers have everything from paint sprayers to lawn mowers. They are ALWAYS busy.

Anything that you don't use often enough to own.

But the big caution: KNOW WHO YOU ARE RENTING TO! For years I investigated rental thefts from a local company and came up with the following recommendations to lessen their losses and make prosecutions possible:

1. Only rent to local persons who have a valid driver's license or other government issued photo ID. Make certain that the person wanting to rent is the person in the photo on the ID. Make a high quality photocopy of the ID for the rental file to give to the police if the renter does not return your merchandise.

2. Write down the license number of the customer's vehicle on your rental contract. If the ID is phony, maybe the license number will be the clue that gets your property back. Beware of walk-ins that want to drive away in one of your machines.

3. Talk to your local police and your lawyer to make sure that your rental contract is properly worded and handled to make sure that a successful police investigation and prosecution will be possible under your state and local cruiminal laws. You WILL have customers that never bring back your property and suing them in civil court is usually a waste of your time and money. People are more likely to bring stuff back if the threat of going to jail is there if they don't.

4. Keep good records and use good business practices. Don't just depend on computer records. Computers crash and hard drives quit. Always back up open accounts with hard copies--they are your evidence. Also make sure that how and what you are doing is legal.

5. Make your facility secure. Keep an accurate inventory with correct serial numbers and descriptions of everything you have. Engrave your company name and an inventory number on everything you rent. Have a strong, alarmed building and a super quality fence. Consider the possibility of living on site and having a loud, intimidating dog or dogs loose in your fenced yard at night. Rental companies are favorite targets of burglars and often the owners are very unsure of what is missing.

6. Get acquainted with your lawyer and insurance man. Franz is right: your chance of being sued is very high. And especially if you have troubles, your insurance may become cost prohibitive.

I hope I have not been too pessimistic, but I watched a company with people I liked struggle for years with problems my recommendations helped, but never eliminated. Like I said, there is money to be made, but be careful. Good Luck!

d

1. Flatbed trailer - single axle 14' long. (I'm thinking of buying one since it was soo handy)
2. Sewer auger - The one with the electric motor and 100' snake. (Had to drive 25 mile one way to find that one. Ended up driving 100 miles and was darn glad to do it since the third rule of plumbing was being violated. The local rental guy had a 75' hand crank model but it wasn't long enough. The good news is he didn't charge me a rental fee because it didn't work. I'll go back to him first just because of that. I think that was a good policy. When it warms up, I'll install another clean out so that 75' will work.
3. Engine hoist - Don't need one often enough to own one.
4. Furniture dolly - heavy duty like the movers use to get a refrigerator down stairs.
5. Two wheel tow dolly - to tow broken down cars home. ALOT cheaper than a wrecker.

You might even consider renting tuxedos and formal dresses if your town doesn't have someone else doing it. When the clothing store went out, the rental guy took over this enterprise. Works him to death during prom and some weddings but must be worth it cause he's still in it.

Sidelines to consider since you're already there working. New and used lawn equipment, chain saws and such. Small engine repair. Trailer sales. If your town doesn't have a dry cleaners, work out a deal with one close to set up a pick-up and delivery at your place. Sell party supplies too if you decide to rent party stuff like an earlier poster suggested. Might as well sell cups, plates and all that stuff since they are already there getting the keg supplies (must be money in this since some stores only sell that kind of stuff). Might as well sell ice too. If you have hard water in your area, sell water softeners and supplies

I agree with the earlier poster. Ask the professional contractors what they would rent.

You might guess that I have thought about this some myself. Good luck and keep us posted.

P.S. The problem is that you have to shell out the big bucks for these items up front. Try to find good used equipment to buy for this which will cut the cost. Talk to your banker to get his opinion, unless you are independently wealthy. Write a good business plan and financing will be easy. If you need help with the business plan, contact you local Land Grant University Extension agent for a referral.

Consider heavy equipment that local contractors can't afford to buy. Mobile scaffolds, cranes, loaders, trenchers are all very expensive to buy but rent for big bucks. Talk to some of the contractors in the area and find out what they would be willing to rent locally if they could.

Checkout nearby rental places and see what they DON'T carry. Good luck.

Barring that I would suggest that you focus your efforts across the needs of entire spectrum of your community i.e. local govt, school productions/events, tradesmen, DIYer's, townies, and farmers. Have knowledgeable staff that CAN deliver/setup equipment for a nominal fee.

If possible avoid duplication within reason things available at local stores to ensure everyone gets a of the dollars spent locally ("piece of the pie" to keep peace with the other local businessmen) and to get referral business.

That said, the following is a partial list of things wife & I would personally find useful -

1. Heavy Duty Hammer Drills 5/8" chuck (MLWKEE)
2. .22 cal. guns to anchor stuff in concrete
3. Power float for concrete finishing
4. Rototiller - rear tine preferred
5. small bobcat - skid steer dozer with excavator
6. ditch witch for DIY H2O lines or yard sprinkler
7. staple guns
8. screw guns
9. pressure washer
10. fence post augers
11. wedding arch & accesories - tables, party tents, chairs, chafing dishes
12. various saws -block and brick, tile, 13. sand blaster
14. engine hoist
15. genie lift - hi reach
16. double drum roller??
17. carpet cleaner
18. carpet stretcher
19. floor nailer
20. floor sander
21. generator
22. wet/dry vacs
23. concrete finishing tools and gas powered
24. concrete mixer
25. misc. airtools - nailers, wrenches, sanders
26. PC projector
27. overhead projector
28. TV/VCR
29. Brush chipper
30. Lawn edger
31. Leaf Blower
32. High wheel mower
33. seed/fertilizer spreader
34. grass trimmer aka weed wacker
35. gas powered log splitter
36. appliance dolly and blankets
37. manual pallet jack
38. Exterior airless paint sprayer
39. Texture sprayer i.e. popcorn ceilings
40. ladders / scaffolding
41. dunking tank / clay pigeon thrower
42. grills/cooking rigs
43. ready to go dance floor sections - MY PARTY PAD IS OUT IN THE WOODS - Hank Jr!
44. table linens
45. keg o' beer cooler / garbage cans for clean up
46. ice machine for the party out in the woods
47. powered sump pump and lagoon pumps
48. power snake for roots in/around septic tanks
49. chains, car hauler, flat bed trailer
50. rots of ruck!!