Tall step ladders and scaffolding. But liability ?

Trailer for short hauling stuff from stores.

 

Tall step ladders and scaffolding. But liability ?

Trailer for short hauling stuff from stores.

Yeah I thought of that too and I even have a trailer. :thumb:

Scaffolding too big and yeah liability...

 

Pressure washers, bouncy castles (not kidding) event tents although you'd need staff to help set them up.

Godspeed

 

Bouncy castles can have huge liability too:

 

How about a high pressure sprayer for spraying tall trees? (nut trees, fruit trees, etc)

 

Stock/horse trailer.

 

Escorts - $20K to purchase, $300 / hr.

 

If it Flies, Floats, or Fu.....
Never mind.....

 

Here is my revised list:

Roto tiller - $500 -- $75 per day

Electric scooter - $300 -- $50 per day

Bicycles - $200 -- $40 per day

Trailer - $600 -- $30 per day

Pressure washer - $300 -- $40

Air compressor - $200 -- $40

Any other ideas?

 

Chain saw
Lawn mower
Edger
Weed whacker
Long extension tree pruner (gas engine)
Hedge trimmer
Paint gun
Nail gun
Log splitter
Table saw
Radial arm saw
Power mitre saw
Shop vac
Floor sander
Floor polisher
Carpet cleaner

 

I have thought about renting things out in the past myself because I had specialty tools that were just setting around collecting dust most of the time.

That isn't an issue anymore since it all burned up but some basic specialty tools could pay for themselves in a very short time.

Engine hoist
Torque wrench
110v mig welder
Socket set
Wrench set, especially wrenches over 3/4"
Circular saw
Chop saw
Radial arm saw
Staple/nail guns

Go to you local rental store and see what they have, if they have it, they are making money off it.

 

Another option is you could go the route of renting fans and dehumidifiers for water damage. I use to work for Service Master and they would charge insurance companies 100 dollars a day for a commercial dehu and 25 bucks per fan. The average small water damage say the size of a kitchen needed a dehu plus 6 fans. Thats 250 dollars a day and it takes on average 3 days to dry out a spill so 750 bucks. Even if you charge 500 that is a nice return on your money.

We used something similar to this https://www.webstaurantstore.com/b-...RD9ARIsAMH3BtVdo2Vfd54i2peq0zkUr8wDnQ8MIXU6-DoVi8ytZqOoTOODfq6VnBIaAmDxEALw_wcB

and this

https://www.webstaurantstore.com/xp...RD9ARIsAMH3BtW3H1bong4CYwsKqbdpo0xHA9Vou_2ChvMolGTK10jcxmHVPQYDTfgaAljyEALw_wcB


For a decent size rental I would be tempted to set equipment and pick up for an extra 50-100 bucks. Just don't get into demolition work. That takes way to much effort.

Here are a few links for tool rentals for ideas and rates.

https://www.menards.com/main/store/...in/store/20090519001/assets/images6/rentalequipment/Update/2019-rentalrates.pdf

 

Another option is you could go the route of renting fans and dehumidifiers for water damage. I use to work for Service Master and they would charge insurance companies 100 dollars a day for a commercial dehu and 25 bucks per fan. The average small water damage say the size of a kitchen needed a dehu plus 6 fans. Thats 250 dollars a day and it takes on average 3 days to dry out a spill so 750 bucks. Even if you charge 500 that is a nice return on your money.

We used something similar to this https://www.webstaurantstore.com/b-...RD9ARIsAMH3BtVdo2Vfd54i2peq0zkUr8wDnQ8MIXU6-DoVi8ytZqOoTOODfq6VnBIaAmDxEALw_wcB

and this

https://www.webstaurantstore.com/xp...RD9ARIsAMH3BtW3H1bong4CYwsKqbdpo0xHA9Vou_2ChvMolGTK10jcxmHVPQYDTfgaAljyEALw_wcB


For a decent size rental I would be tempted to set equipment and pick up for an extra 50-100 bucks. Just don't get into demolition work. That takes way to much effort.

Here are a few links for tool rentals for ideas and rates.

https://www.menards.com/main/store/...in/store/20090519001/assets/images6/rentalequipment/Update/2019-rentalrates.pdf

Wouldn't I then have to be a contractor to work with the insurance companies?

That sounds painful yet profitable.

 

What rents in Arizona?? may not rent here in Illinois and vice versa . Price per hour depends where your at also.
I've rented a slew of things over the years but I'm probably are rarity.
Couple weeks ago was a 20hp stump grinder.

Some rental companies will post rental prices so that should help you on your pricing.
What are your mechanical abilities to keep things running.

Liability insurance costs to consider....some people are complete idiots running anything mechanical and would sue you over there incompetency.

When I rent I treat the equ. like it was my own, some jackleggs out there think they have a duty to beat the hell out of it.

 

We really don't have any rental companies in my town, my mechanical abilities are low but I tinker a bit so maintaining shouldn't be an issue fixing will.

Fine line of liability...

 

If you're near a college, how about refrigerators for dorm rooms?

 

Awfully hard to collect if they quit paying. I was allways challenged to rent consumer grade “stuff” when working out of town- they wanted in state, if not in county DL. Generally a contractors license or federal government credit card helped. Business oriented rental places like United or Volvo were somewhat easier.

Having said that, I think dorm freezers are otherwise a great idea, just to avoid having to return and store over the summer. Be prepared to do some serious cleaning.

I like the ladders ( step and extension). I have a 14’ ladder that gets used maybe every 2 years.

Sawsall, Hand trucks, appliance dollies, wheelbarrow and SDS hammer drills Light duty ( inside) scaffolding and chop saws might sell well, but need careful inspection. Industrial scaffolding needs less inspection, but is usually far more than a homeowner wants.

Maybe plastic tables for birthday parties, yard sales, etc.

 

Part of my business is rental of Christmas lights and decorations. We do decorative lighting year-round. Weddings, parties, outdoor events all like lighting and it is advantageous to the customer to rent.
In the off season, I also rent my big ladders to select people. I am picky about who rents as I don't want my stuff abused. I also have generators and extension cords that get rented.

 

Chain saw would scare me because anyone who knows what they are doing wants a yellow label chain, while the manufacturers recommend a green label safety chain, which borders on useless. If you rent a chainsaw to a homeowner, ( as opposed to logger, arborist, firefighter, etc) you could be found negligent for giving them a more dangerous than recommended chain.

Pole saws don’t have this problem, they do OK with safety chains, because the engines are so small, and expectations low ( on rate of cut)

 

Stump grinder
Floor sander
Riding lawn a mower
Trailer
Canning machine
Freeze dryer
RV
Boat

 

Yes, almost any tool worth using has dangers and will represent a huge liability to someone renting it out. You will have to conduct routine documented safety inspections and know the correct inspection procedures. Then you will still get sued and end up in court because the idiot you rented the tool to hurt themselves.

Hell, McDonald's got sued for selling coffee.

In court...
"... and did you train the person that rented the nail gun not to nail their hand to the roof of the house?
Did you make sure the person that rented the manlift knew not to drive it over the edge of a ravine?
Tell the court the routine inspections you conducted on the mobile crane. Where is the documented test of cable strength, condition and hydraulics leaks on the boom and outriggers?

Did you confirm the person renting the jack hammer was wearing meta tarsal safety shoes and knew not to jack hammer his foot?

I am amazed you can even buy an angle grinder anymore. Seems they have wounded just about anyone that has touched one. People don't know how fragile the disks are. Don't conduct the ping test on them, remove the guard, don't wear a face shield and heavy protective gloves.

 

McDonald's did not get sued over coffee, that is how they spun it. They got sued for refusing to to call and ambulance for a lady who got 3rd degree burns on her inner thighs and other parts. Once the jury heard the details of the case and that it was actually a quite common and known problem with both high temps and a poor cup design that McDonald's had know about for years and had done nothing about they decided to use the lawsuit to punish McDonald's. The lady ended up getting about 1/20 of what the jury awarded to her.

 

Electric plumbing auger/snake

Oh,and Flo=bees for haircuts,you could retire!

 

There is a reason Rental Equipment companies have huge insurance policies

 

Small boats. On vacation I often wish I could take a canoe or kayak or rowboat along but there is only so much I can conveniently take with and still have a good time. The ability to rent a cheap boat is nice in some situations.

I live near a great river to float. I have thought of buying 3-4 cheap second hand canoes and renting them out & and launching and landing them. Typical rates are $50 a day for a canoe river float. I wouldn't want to transport anything but the canoes for liability reasons and I would have to look into the liability of loaning out a boat.

 

Everything you rent is liable to be broken or stolen so factor that in.

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My thought process was make the deposit equal to the purchase price after the 1st year take it down to half.

 

I worked at a rental place about 20 years ago and far and away the best moneymaker was a drywall jack. Fairly inexpensive and was rented all the time with basically zero maintenance costs. It would usually pay for itself in a couple months and then after a year of pure profit, we'd sell it for half the new price and get a new one.

If you want to move to bigger equipment, we had a ditch witch pipe puller that was rented about every weekend. Pressure washer was also a good one.

 

cool.

 

PEX plumbing pipe crimp tool and supplies
Ozone machines
Wet Vac cleaners
Hammer Drill

 

Find a couple smaller (not chain) rental co a major city away from your AO. Stop in/find the honcho and talk (LISTEN) to him.

Used to get a very useful industry trade magazine (RENTAL as I recall). Get on their mailing list. Lots of good store management articles. As I recall also had weekly emails.

You going to give invoice terms to tradesmen? Drywall guys, for example, come and go with the moon and will get left with holding worthless invoices.

-Battery forklift on a hydraulic lift 4 wheel trailer.
-Look at DOD surplus for good equipment (all commercial Diesel) like gensets, pumps, construction equipment.
-Buy good condition used commercial duty equipment - there is going to be a buttload of it at auction in the coming months as small businesses bankrupt. Many of these guys will want to restart their trade and will need to rent/lease the same equipment they sold off.

 

Not sure it is a feasible side hustle. The liability aspect of it is significant, and claims are more common than most people think. Insurance will be expensive. In my line of work I see a lot of insurance policies, and the premiums for some businesses are sky high. Plus, the local government will make you get a business permit, and then tax your rental assets as business property. Then you can kiss about 30% of your income goodbye on income tax. Then there are advertising and maintenance costs. You may end up with loss or breakage issues too.

Not saying you can't make a living off of rentals, but it's probably something you have to do on a larger scale to make it worthwhile.

 

In all honesty I'm thinking a lot smaller, I'm not trying to make a living off of it but I'd be tickled with making $500 a month and I have no intention of getting any kind of insurance nor getting any type of license or permit.

 

I think too much is being made of the insurance and liability issue. Write up an iron clad disclaimer with every rental describing graphically the thousands of ways the renter might be maimed by misusing a screwdriver or circular saw. Make sure they sign it. Make sure the manufacturers instructions, if any are contained with the equipment and noted on the signed agreement. Post a warning that you have no liability insurance on the counter and in the waiver. Same thing doctors here must do if they have no malpractice insurance.

In the end you are renting the stuff, how is your liability any greater than Home Depots when they sell a sharp tool to the average moke?

People will do stupid stuff.

I have seen workers use a circular saw as a tiny table saw to cut bits of wood.

I had a concrete guy fixing my swimming pool grout. it involved him in a wet suit, in the pool water with an angle grinder cutting out old grout. He had a helper with him at the ready to unplug the extension cord. I made sure he was using a GFCI outlet. I panicked briefly that the outlet was not on GFCI, but it was.

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I think too much is being made of the insurance and liability issue. Write up an iron clad disclaimer with every rental describing graphically the thousands of ways the renter might be maimed by misusing a screwdriver or circular saw. Make sure they sign it. Make sure the manufacturers instructions, if any are contained with the equipment and noted on the signed agreement. Post a warning that you have no liability insurance on the counter and in the waiver. Same thing doctors here must do if they have no malpractice insurance.

In the end you are renting the stuff, how is your liability any greater than Home Depots when they sell a sharp tool to the average moke?

First, waivers won't help if someone other than the person who signed it is injured. Second, the liability attaches to the ownership of the tool. When you buy it from Home Depot, it is no longer Home Depot's tool, and the liability disappears except for product defect claims. As far as Home Depot's tool rentals go, I bet they have had a few claims. That's why they have insurance.

 

I think your numbers are off.

I just rented a rototiller for $75 per day. The unit I rented I could have purchased for $3.600. A $500 unit won't hold up to rental use and it won't satisfy your customers. People abuse rentals.

If an electric scooter is the type for someone who needs assistance walking, a quality unit goes for $3,000 or more. Again, a $300 unit won't hold up and your customers will be disappointed. Typically, someone with those type of health issues isn't making a lot of money. Hard to make money when your customer doesn't have any.

Bikes for daily use work in resort towns where tourists didn't bring a bike. In the rest of the world, you can buy one for $150 at Walmart. Few people are going to pay $40 for a 1 day rental.

Also, consider the cost of damage and just wear and tear. You can tack on an "insurance" fee to each rental but then you're on the hook for any damage done. And good luck collecting any damage costs from your customers. If they can't afford a $500 rotoriller, they won't have cash to replace it - besides, it was a rental and you knew the risk when you rented it.

I've never been in the rental business but I have been in construction for a long iime and have rented hundreds of items. It's a business that has interested me but I have run the numbers a bunch of times and I haven't seen a profit that made me want to pursue it.

Typically, I have seen rental costs at 2% of the cost of the item. You need to rent the thing 50 times to break even. That's if you don't have any costs for damage or just regular maintenance. Startup costs are huge.

 

That's the thing in my town of 50k people there are no rental places.

Here is the type of scooter (under $400) I was thinking of and tiller ($550) no not top of the line but not many/any options to choose from.

My deposit would be close to purchase price, perhaps my theory is incorrect but the last time I was looking for a tiller I would have jumped on renting one for $50 even if the deposit was $500.

I may try out my theory with my old (real old) tiller, just to see what happens.