How to start an equipment rental business?

To start an equipment rental business, you should define your business, obtain permits and licenses, purchase inventory, and set up your presence. You may find it beneficial to research and find a specific niche so you can directly appeal to a specific audience.

1. Define your business

   You should decide how you want your business to run before you begin it. This means you may want to consider whether or not you want to open a storefront and stay online. If you want to open a storefront, you need to start looking into finding an appropriate space that can handle your inventory.

   You also need to decide what type of equipment you want to rent. Is it large cleaning equipment, or things for outdoor sports and activities? You could rent kids' items, such as strollers or high chairs if you live in a popular vacation spot. You can even choose to rent out equipment for people needing to complete things in their yards or around their houses.

2. Obtain permits and licenses

   An important part of starting any business is making sure that you are in line with all laws and regulations. To sell anything in the United States, you need to hold various permits. Be sure to look into what is required in your area, and obtain those before you open your business so you do not run into any legal troubles.

3. Find inventory

   Within whatever your niche is for your rental equipment, you need to make sure you have many options on hand for this. You need to gather inventory for your business. You should make sure you purchase quality equipment that can last through many rentals.

   Once you find inventory, you need to make sure that you understand all of these items and how they function, especially as customers may ask many different questions that you need to be ready to answer.

4. Build up a presence

   You should decide to set up your online presence as well as in-store, if applicable. You can hire out the process of setting this up, or you can do it yourself. There are many resources such as podcasts and books that help you learn the best ways to build a presence and market your crystal business.