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Articles in the Starting a Tool and Rental Equipment Series:
- How to Start a Tool and Equipment Rental Business
- Tool Rental Business: What Tools and Equipment to Rent Out
- How to Start a Profitable Tool Rental Business
Tool Rental Ideas: Equipment to Rent Out
Success in a tool and equipment rental business largely depends on the quality of your product offerings. You can set your business apart from the competition by offering only the finest tools in the various categories you serve. Your product selection should elicit customer satisfaction.
Decide on the tools and equipment that you will make available for rental. According to toolstastico, start by planning the categories of tools that you will make available for rent, such as wood, general construction, painting, and walls, fastening and welding, demolition, and other categories.
Some tools and equipment that you can rent out include:
Painting and Walls
- Drywall Sander
- Electric Wallpaper Steamer
- Paint sprayer
- Texture sprayer
General Construction
- core drills
- ditchers (both walk-behind and riding trenchers)
- air jackhammers
- mini excavators
- tampers
- plate compactors
- trenchers
- rotary laser level kit
- gas-powered concrete saws
- chain saws
- drills, including roto hammers
- electric pressure washer
- air pavement breakers, bobcats, trenchers, and trailers are good. Trailer-mounted air compressors in the 10-50 HP range might also be good (and a variety of air tools), as cutting torches, wire welders, heavy-duty (1″ drive, or bigger) tools, and cement mixers.
- a random orbital sander is an exceptional machine for any tool rental business. It is a power tool used to smooth out surfaces, great for woodworking and autobody mechanics. There are several different types of sanders and can be hard to find which one to buy. You can check out the Best Sanders which takes a deep dive into each product to find which one is best for your specific tool rental business needs. Therefore, you can rent sanders tailored to customers-demand and avoid any idle inventory space.
Fastening and Welding
- air compressor
- floor nailer
- floor stapler gauge
- framing nailer
- finish nailer
- welder
Demolition
- electric jackhammers
- breakers
- chipping hammers
- roto hammer
- floor stripper
There is also significant demand for the rental of vehicles that can carry heavy loads and equipment such as:
- flatbed trailers
- double axle trailer
- utility vehicles
Commercial & Industrial Applications:
- Excavators
- Bulldozers
- Asphalt Milling machines
In many cases, when it comes to large and complex commercial & industrial machine rentals, most of the equipment is very expensive and hard to operate and they typically require a lot of experience to run properly without damaging the project and the expensive equipment itself. This is very common with asphalt milling rentals – if you own and operate an asphalt milling machine, most of the time, when you rent out the equipment, you also include delivery and an operator to run the machine. This not only typically nets you more profit on your rental, but ensures that your equipment is being run by your own experienced operator. Renting equipment like this to either only qualified companies or with an experienced operator not only ensures your equipment will last longer, but will also help you build a reputation of solid results.
The cost of the tools and equipment that you will plan to rent will be the biggest start-up expense of your tool rental business. While it may be good to offer a wide selection of tools for rent, your resources may force you to limit the number of tools available. Try to anticipate the demand for your business. You don’t want to buy so many tools that will end up un-rented in your shop, yet you also don’t want a situation where you are unable to meet the demand of your customers. The safer approach may be to grow your inventory slowly depending on what customers look for in your shop.
If your tool rental business can offer only a small amount of tools, be sure to compensate for that with excellent customer service and deeper knowledge about the tools offered. Visit other tool rental businesses in your area, and look around at their inventory, the rental price of each item, and then compare to cost.
Always maintain your tools diligently so that the tools are always in the best shape and will appear as new. Your tool rental business should always strive to provide a sufficient inventory of high-quality tools, kept in excellent condition. Having the highest quality tools means that you will be able to better serve your customers, increasing your chances for the success of your tool rental business.
To supplement your tool rental business, consider selling new and used tools. You can sell professional-grade tools and equipment that were previously rented but are still in good, working condition. While the tools can be sold “as-is” at significantly discounted prices, be sure to test out the tools first to make sure that they working. Clearly mark the tools as “Previously Rented” to distinguish the tools from the brand-new items.
Go to Part 1: How to Start a Tool and Equipment Rental Business
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