Rental Business - is it worth it?

Does anyone have any general knowledge of the equipment rental business? I realize this is a wide open question, but I'm going to look at an existing business that is for sale. They rent out tents, wedding/party supplies, DIY equipment, and small professional equipment (bobcats, back hoes, etc.).

I haven't seen the financials, but hope to soon. I'm really wondering whether or not this is a type of business that is a great long term investment that I can grow. I would love to eventually get into heavy equipment as I see that is where there is longer rental periods with higher margins.

Thanks for any comments or suggestions.