Rental business is the most ideal decision to begin your business as a startup and to earn high profit within a short span of time. Opportunity in the rental business is immense and one can without much of a stretch start these organizations with low investment. If you want to start a rental business and are looking for some ideas in this profitable industry then read on. Three significant interesting points for a rental business are,
- Proper Storage or Warehousing facility
- Safe transportation
- Cleanliness or maintenance of the property or equipment.
If you are searching for the best rental business ideas, then you are in the perfect place. The startup cost of launching a leasing or renting business relies completely upon the thought you picked and the kinds of items and hardware you need.
Top 3 Rental Business to start in 2021 are,
- Vehicle Rental Business
- Property Rental Business
- Equipment or Tools Rental Business
Vehicle Rental Business
The Vehicle Rental business is getting competitive everyday. In the coming years, the automotive industry will grow in all developed and developing countries. As per the report, the global car rental market size was valued at $92.92 billion in 2019. It is estimated to succeed in $214.04 billion by 2027, registering a CAGR of 10.7% from 2020 to 2027. Most of us know about the Airbnb script for cars, apart from this, there are many vehicle rental businesses that exist in all countries. Some of the types of vehicle rental business are,
- Bicycle / Bike / e – bike Rental
- Boat Rental /Jet Ski / ATV Rental
- Bus Rental / Party Bus Rental
- RV Rental / Boat House Rental
- Truck / Tow Rental
- Private Jet / Helicopter Rental
The ideal spot to begin such a business is in the corporate Cities and tourist places. In both places, people will rent a vehicle on Airbnb clone for short periods of time that ranges from a few hours to few days or few months.
Property Rental Business
Property Rental business (as same as Airbnb clone) is the most secure and promising business idea on this list. You can either begin the property rental business by renting your own property or prepare Website and mobile applications like Airbnb that will provide a space where guests and hosts can interact and finalize rental deals. The kinds of properties may fluctuate in numerous elements, however the three most regular types are lodging, Commercial, and recreational.
Most famous Property Rental businesses are,
- PG Room Rental
- Apartment Rental
- Hotel / Lodging property Rental
- Office Space Rental
- Marriage / Party / Event Venue Rental
- Vacation Property Rental
- Campsite Rental
- Land Rental
Equipment or Tools Rental Business
Equipment Rental or Tools Rental business is also called as Plant hire. It is providing a Machinery, Tools or equipment needed for a restricted time frame to the clients, predominantly to develop temporary workers yet additionally to industry and individual buyers. Tools or Equipment rental business is very useful for people who can use this for a short period of time at lowest cost and don’t want to purchase it for a longer time.
Some examples of the Equipment or Tools rental business are,
- Camera or photography gear Rental
- Clinical supplies rental
- Office / Home Furniture Rental
- Construction equipment Rental etc.,