How to Enter in the Online Rental Industry: Rental Business Ideas
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Who says you need to step out of your home to make money? Why do a job when you can turn an entrepreneur? The Internet has changed the world around us and created new possibilities for income. Peer-to-Peer e-commerce business offers countless opportunities to start a successful business with your assets and small capital investment.
According to a survey, “the market for consumer rental products stands at over $25 billion & young people are more preferring to rent the high-value products rather than buying it”.
Sharing economy as it is called is expected to be a major disruptor for traditional agency based hiring. If you are planning to explore opportunities in the e-commerce rental business industry then here is an ultimate list of most popular rental business ideas:
Event Venue Rental Business: It is one of the first businesses to make use of online rental marketplace solution platforms. If you have a venue to rent for an event use these platforms and you won’t have to ever worry about promoting your venue.
Vacation Rental: It is one of the oldest rental businesses in the world. Have room to spare during the busy travel season, you have got business waiting for you. You can also invest in a property purely from a vacation rental business.
Camp Equipment Rental Business: Camping equipment is costly and most amateur campers don’t want to invest large sums of money buying them. You can rent your idle equipment and it would help you make money and invest in better equipment.
Music instrument Rental Business: Music instrument rental business is growing exponentially and as an upcoming band or an aspiring musician you can rent them out to create funds for your next big buy.
Dress Rental Business: Dress rental business is extremely popular as it allows people to dress the way they want during events without spending exorbitantly on them. Maintain a good line of costumes and focus fancy dress costumes and you have your successful business plan in place.
Water Sports Equipment Rental: As a water sports enthusiast, don’t make your equipment gather dust when you aren’t using them. Hundreds of amateurs hunt for water sports equipment on rent in peer-to-peer websites and you can mint money by giving them on rent.
Wedding Rental Business: From lights to props and furniture there are dozens of things needed to make a couple’s special day even more special. You can start this business with a small capital and make a fortune.
Travel Equipment Rental Portal — Start your own travel equipment rental portal where you rent out everything from adventure sports equipment to cars and caravans. Make good use of social media and in no time you would see a good number of bookings.
Construction Equipment & Tools Rental Store: While this equipment was always taken on rent online rental websites have bridged the gap between the owner and the customer. Keep your tools and equipment in good shape and they won’t sit idle.
Why do a job when you can make money while enjoying a vacation thanks to online rental websites? And before we forget even while you are vacationing you would be helping fellow entrepreneurs keep their bankers happy. You need a technology solution that can help you to start an online rental marketplace without any kind of hassle.
The online rental industries like car rental, equipment rental, property renting, book renting, etc. are growing unprecedentedly all over the world & gaining popularity among the users. Considering the market growth, we can say that starting an online rental business in 2019 & the beyond years is a win-win situation for aspiring entrepreneurs or business persons.