The rental business has gained huge popularity. The growth in the rental sector in the past few years has opened a vast opportunity for small businesses to start offering rental services. Today, people prefer to book any service or product on rent rather than purchase it, the reason being renting is affordable.
The following factor opens up new doors of the rental business opportunities for the new-comers.
Thus, if you are also looking to start your rental business, here are the 20 rental business ideas to start and scale up your business in the rental niche.
1. Car Rental Business
The demand for car rental is very high. Travel freaks often rent cars for trips or vacations. This is mostly seen among college groups who like exploring places and doing adventures. So, providing a car rental facility can be a profitable and ideal way to kick-start your rental business.
You can also hand over your car to a travel agency and earn a decent income. Another idea would be to register your car on on-demand taxi booking apps like Ola and Uber.
2. House Rental
If you have multiple properties under your name, you can start a property rental business and offer some of your properties on rent and gain a decent income. You can turn your houses into PGs and welcome college students.
3. Travelling Kit Rental
People usually require a traveling kit in which they keep essential traveling items like a hiking bag, hiking waterproof rain jacket, trekking head torch, camera kit, etc. You can provide such items on a rental basis and fulfill the requirements of the travelers.
4. Room Rental Business
Just like Airbnb and OYO, you can provide rooms to people for a limited time. People often look to book rooms for a short period when they are outside the city for work purposes. Reach out to your nearby hotels and start a partnership with them. This is not only an ancient rental business segment but also an evergreen kind of business.
5. Campsite Rental
Adventure freaks are always in search of camping sites, so investing in the land (great if you already have) and converting it into a campground for rent can be a good rental business idea.
Furthermore, if you have properties near well-signed locations, you are already a plus. Start your rental business today with minimum investments.
6. Camp Equipment Rental
For camping enthusiasts, equipment like camping tents, airbeds, backpacks, hiking poles, camping cookware, etc can be provided on rent.
7. Fishing Rental
Fishing requires a lot of equipment. Equipment like fishing rods, fishing lines, and terminal tackle can always be provided for rent.
8. Boat Rental
Another rental business idea would be to start a boat rental business. You could start a boat rental service on the areas that are surrounded by rivers and lakes.
9. Land Rental
Today, renting out land is one of the most popular sources of income. You can lease out the land or a part of it for various purposes like agriculture, wedding, etc.
10. Furniture Rental
You can start a rental business that offers furniture for rent. Most corporate offices look to purchase furniture on rent, hence this can be an ideal solution.
11. Office Space Rental
If you have a large space, such that it can be used to set up an office, providing it on rent can make you earn a handsome amount of bucks.
12. Conference Room Rental
If there is some extra space available in your building, you can provide that space to businesses to use it as a conference room.
13. Office Equipment Rental
A corporate office requires a lot of set-ups and a set-up requires equipment like tables, chairs, printers, etc. You could rent out such office equipment.
14. Camera Rental
There is always a high demand for cameras in tourist places. If you have a wide collection of cameras, you can offer them on rent and earn a decent income. This business requires minimum assets and knowledge if you already have well-maintained and high-quality cameras.
15. Tent Rental
Tent house rent providers hardly sit idle for any day throughout the year. The bookings for events like weddings, and birthdays, are made in advance. So offering a tent rental service can make you earn a handsome income without even putting in much effort.
16. Costume and Clothing Rental
Costumes on occasions like Halloween and Christmas are worn once a year. In such cases, you can provide the costumes on rent for specific occasions.
17. Cleaning Supply Rental
People prefer to get cleaning equipment like steamers, carpet cleaners, and scrubbers on rent as these types of equipment are only required once in a while.
18. Construction Equipment Rental
Adding to our list of rental business ideas would be to offer construction equipment on rent. Since construction equipment is expensive, you could provide them on rent to the professionals and make it affordable for businesses that do not require them too often.
Construction equipment can include a scissor lift, excavator, concrete mixer, etc.
19. Wedding Dress Rental
The wedding dress rental business is seen quite often nowadays. Wedding dresses are one-time wear or max you can wear it on your first anniversary. Otherwise, those expensive outfits remain in the closet forever, just as a memory.
Start a rental business that focuses on providing wedding dresses for rent. This creates a win-win situation for both the customer and the business. Customers would not have to pay the actual amount of the dress and businesses can cover more money through rent than its original price.
20. Bicycle Rental
To support an eco-friendly environment, starting a bicycle rental business could turn out to be an amazing idea. The government in metro cities has also initiated to put bicycles at metro stations so that people avoid traveling by Car or Bike.
Not only for metro stations, but you can also start renting bicycles on areas where the crowd is heavily attracted so that more and more people make use of it.
If you are specific about Hotel/room rentals or Vehicle Rental and want to start a rental business online, you should check out our Booking and Rental system module.
Booking and Rental System Module by Knowband
The Online Booking and Rental system module helps you set up your rental business conveniently on your website. If you have an existing website on Prestashop, Opencart, or Magento 2 you can explore Knowband’s Booking and Rental Extension.
With the help of Booking and Rental Addon for Prestasop, you can add your rental products without any hassle and customize your booking price as per your desire. Some of the key features of the online booking system module offered by us are-
1. The Booking and Rental module lets you add multiple booking and rental services, like an appointment, hotel booking, car rental, etc. You can add your desired service and make the desired changes.
2. Option to show available date & time slots, available quantity, and the up-front booking price.
3. Flexibility to set multiple price rules for different days and timing.
This module is available for PrestaShop and OpenCart platform-
PrestaShop Booking and Rental System
OpenCart Booking and Rental System
You can also check out PrestaShop Booking and Rental Mobile App which is a combination of PrestaShop Booking and Rental System and PrestaShop Mobile App Builder.
For any assistance, you can reach out to us at support@knowband.com
I like that you said that you can use fishing equipment for rent. My friend told me that renting equipment for special occasions is the best way to have what you need if you don’t have the money to buy it. Thank you for bringing out the benefits of rentals.
Glad that you liked it, Ron
Good writeup! I check out your blog site fairly often, and you’re constantly coming up
with some decent staff. I shared this post on my Tumblr, and
my followers loved it. Good luck for the future.
Thank you for your kind words and sharing this 🙂
This is a really well-written article and everything is properly explained. Thank you for sharing this great list of rental business ideas. Waiting for more such posts!
Thank you, Edwin.
Sᥙch а nice post! Really a need to-read and a discovery!
Thіs just worked for me thanks.
Glad that you liked it, Dementi.
Grеat! Thanks a lot for the guide!
I liked that you said that one thing to consider is owning rental property in order to make money. I have been trying to find ways to make extra money but I haven’t been sure how to do this. I will be sure to consider buying and renting out property in order to make money on the side.
Go ahead, Ashley. Wish you luck
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I just ⅼike all the pointѕ you һave made.
Grеat! Thank you for this guide!
Hey Manish, Nice post and thanks for sharing. I was thinking to start a car rental business for a long. But I do not have much knowledge about that and have one question- How much money do I need to start car rental business. Please share your view if you have any idea about that.
That’s a hеlpful info! Definitely a need to-read and an eye-opener!
It just helpеd me thank you.
Hey Manish Barthwa,
Nice post and thanks for sharing.
It will useful for those who interested in starting a rental business.
And I would like to share one of the blog posts that would help them to get more ideas. For more info visit: https://www.rentallscript.com/rental-business/
This is a useful article. The Way of writing is good. By reading this, I surely can enrich my knowledge. Your idea is really outstanding. Thank’s to share such an important thing.
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Nice post, keep it up.
Hope you are well in the current situation.