22 Rental Business Ideas

Updated: Sep 23, 2020

The opportunity to make money is always there. You can definitely make your money work for you if you invest in things which you can rent out to people; and there are so many niches for such business.

Read the following ideas and determine whether you have a market to serve in your locale.

  • Party supplies. People love celebrating occasions-- birthday, wedding, anniversary, baby shower, graduation, promotion, reunion, etc. We are social beings and we just love to spend happy moments with the people who matter most to us. With this in mind, one of the best and low-cost investment that you can rent out to people are party supplies. People buying these stuff is most unlikely because they are bulky and expensive considering it might be used only one or twice in a year. Common party supplies include chairs, tables, cookwares, utensils, lines, decorations, other catering supplies and tents. You can start out small then expand your business into high-end party supplies and equipment to cater for grander events.

  • Tent. You may opt to just focus on renting out tents. There are many different forms and sizes of tents you can invest into. Different types include canopy tents, traditional pole tents, sailcloth tents , cross cable frame tents, structure tents, pop-up canopy tents, and dome tents. Having a variety of tents allows you to cater for customers with different needs.

  • Car. When people travel, especially when going out of the country, many rent a car so they can get around. Bringing one's own car can be more expensive considering the cost of fuel if traveling by land, possible maintenance, or freight (air/sea). People or smaller companies, who cannot afford buying a car yet, but need it are also potential customers.

  • Tools. Investing in tools is a good idea if you are a handyman or already in the construction or cleaning/maintenance business and want to make extra cash on your available tools. Knowledge on repair is also a plus on your edge so you won't have to hire another person to fix the tool if it gets broken. Aerators, air compressor and nail gun, air conditioners and heaters, augers, breakers, carpet and floor installation, carpet blowers, carpet cleaners, chainsaws, compactors, concrete grinders, concrete mixers, concrete saws, core drills, dehumidifiers and fans, drain cleaners and plumbing tools, drywall tools, floor buffer and sanders, floor strippers, generators, hammer drills, insulation and other tools, ladders and scaffolding, lawn and garden equipment, lawn movers, leaf blowers, mastic removal and concrete prep, moving and lifting equipment, paint and texture sprayers, power tools, pressure washers, pumps, stump grinders, tile saws, tillers, trimmers and edgers, and vacuums-- this is a list of common tools you can invest into and rent out to people.

  • Heavy and large equipment. Investing in heavy and large equipment requires more capital, but it can be profitable because most likely, you will not have much competition. Aside from the price, they are also large and it would require a huge lot size for storage. In my article, Most Viable Ways to Earn Passive Income, I have mentioned about a distant relative who made his fortune investing in heavy equipment. Large and heavy equipment include earthmoving equipment, landscape equipment, aerial equipment, and dump trailers.

  • Boat. If you live near a lake or ocean, or if you own a beach resort you can invest in boats. Common types of boats that people rent are sailboats, jet skis, houseboats, yachts, and fishing charters.

  • Medical equipment. Having a background in healthcare and desire to do entrepreneurship part-time or full-time suit a medical equipment rental business. Medical equipment commonly used by people are oxygen concentrators, oxygen tanks, wheelchairs, hospital beds, cpap masks and machines, nebulizer machines, ramps, stair lifts, walking aids, mattresses, power chairs, and scooters. If you decide to engage in this type of business, be sure to you have excellent knowledge in disinfection and sterilization, as well as inspection of the equipment for any damage. This will keep your customers/ patients safe from harboring infectious microorganisms and from other bodily injuries.

  • Concession food carts. Because concession carts are small and portable, it is easy to market them. My favorite go-to concession carts when attending parties (especially when I was a kid) are the ice cream and cotton candy carts. An ice cream cart is a pleasant sweet treat that many people love. Whether a party is hosted indoor or outdoor, it is a perfect addition to the dessert menu for the guests. When we were kids, our father would always bring us to his work's Christmas party. There, the ice cream and cotton candy carts usually get emptied first. Other awesome concession food cart ideas are hotdogs, pretzels, popcorns, candy bars, burgers, pizza, french fries, nachos, and sandwiches. If you have a knack for establishing a food business, you might be interested in the following books available in Amazon. Just click on the link to direct you to Amazon's page.