7 RENTAL BUSINESS OPPORTUNITIES YOU CAN MAKE MONEY FROM.

Rental business is a lucrative trade to venture into. Many people have small businesses but do not have enough capital to buy necessary equipment required to carry out their day to day businesses. This type of business owners are obliged to rent equipment to carry out their businesses.  Rental business is a form of semi passive business because you continue to profit from what you have invested for a long period of time although there might be need for maintenance and business expansion depending on the scale you started on. Here are some rental business opportunities to consider for aspiring entrepreneurs.

CATERING EQUIPMENT: equipment like gas burners, cooking pots, spoons, coolers, serving cups and plates are materials that can be invested on and then rented out to caterers who do not have this equipment. This is a good way to make money from your backyard if you have enough space to shelter them. The good thing about catering equipment is that they hardly need expensive maintenance but they are easily damaged if care is not taken.

EVENT AND OCCASION SUPPLIES: these include chairs, tables, backdrops, red carpets, decorations, table and chair covers etc. These are good event materials that can be considered for business as there is always a high demand for them from time to time. Having a strategic outlet where people can easily notice and patronise you is a good way to make money from a business like this. Offering a means for delivery is another way to attract customers.

BOOK RENTALS AND LIBRARIES: opening a private library where people can register and read good books at their leisure time is another business option to consider. There could also be an opportunity for renting and buying books depending on your business plan and how you choose to invest.

AGRICULTURAL EQUIPMENT: for people who are familiar with the agriculture sector and who have enough capital to invest, leasing and renting of agricultural equipment is another business that can be considered. Such equipment includes tractors, bulldozers, caterpillars etc. This type of business should best be located in areas that are close to commercial farmers so that the business can thrive.

VEHICLE RENTALS OR LEASE: for aspiring business owners who can afford to buy vehicles for lease, this is a viable business option in developing countries like Nigeria. People buy cars on lease and pay on instalment after using them for business. Also, hiring of cars for events such as weddings, burials, etc is another way to make money.

MUSICAL INSTRUMENTS: there are many expensive musical instruments that small business owners and churches cannot afford. Renting is always a readily available option. This makes buying and renting out of musical instruments a good business that can be done to make money.

SPORT EQUIPMENT: this is a good business option for entrepreneurs in related field. Bicycles, hover boards, basketballs and other sport accessories can be rented for business.

Rental business is a business that brings income continuously and it can be financially sustaining for investors if properly set up and managed.