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Rental Business - is it worth it?
Posted on 10/10/16 at 2:37 pm
Posted on 10/10/16 at 2:37 pm
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.
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.
4
Posted on 10/10/16 at 2:40 pm to Bronceaux
Rental businesses can be very lucrative. I have a lot of experience in all types of rental businesses (Heavy equipment, oil & gas, general rentals....) and part of what I do is rental based consulting.
I'd be happy to answer any questions for you.
I'd be happy to answer any questions for you.
Posted on 10/10/16 at 4:01 pm to Bronceaux
I've always thought a gun rental business would be a good money maker for Concealed Carry travelers who don't want the hassle of taking their own firearms with them on flights.
Posted on 10/10/16 at 4:04 pm to seawolf06
quote:
seawolf06
quote:
I've always thought a gun rental business would be a good money maker for Concealed Carry travelers who don't want the hassle of taking their own firearms with them on flights.
In theory, sounds good, but I imagine the liability insurance would either be ungodly expensive or no company would want to write a policy for it.
Posted on 10/10/16 at 4:20 pm to seawolf06
quote:
I've always thought a gun rental business would be a good money maker for Concealed Carry travelers who don't want the hassle of taking their own firearms with them on flights.
That would be a clusterfrick in the making.
Posted on 10/10/16 at 5:01 pm to Bronceaux
It's not a bad line to get into, especially if you can fix a lot of things yourself and/or do setups yourself.
Tents and party stuff you can hire college kids to set those up. Cheap. The professional equipment, maybe you have a store or some sort of delivery.
Charge damage "insurance" to everyone.
It's all about getting your stuff rented. It doesn't make money sitting in the warehouse. You will need some capital for replacements.
Tents and party stuff you can hire college kids to set those up. Cheap. The professional equipment, maybe you have a store or some sort of delivery.
Charge damage "insurance" to everyone.
It's all about getting your stuff rented. It doesn't make money sitting in the warehouse. You will need some capital for replacements.
Posted on 10/10/16 at 8:12 pm to Bronceaux
Make sure you have a very experienced person look at the books with you. Most likely this business price will be almost all based on inventory. All those items need to be depreciated appropriately. Lots of people think their business is worth a ton when in reality there is little value in it.
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