When you think of rentals, the first thing that may come to mind is a home or an apartment. And the real estate space is a fairly common industry that offers rentals. However, you might be surprised to learn about other industries within the rental niche.
One of the more common rental processes is after a car wreck or a fender-bender. But rentals aren’t strictly about homes or cars at all. In fact, there are more than 50 unique rental niches in operation today.
For example, did you know that you could rent a dumpster? Indeed you can. And you can also rent hunting equipment, camping gear, or even golf clubs if you’d like to practice your swing from time to time.
But the rental space holds much more than what’s already been mentioned. Here, we’ll explore a few lucrative rental niches that you may not have heard of until now.
Each year, thousands of highly-skilled, able-bodied men and women embark on the process of starting their own contracting business. And this is one business that requires a specific set of tools: among others, you need a capable vehicle.
One of the tools that all contractors need, whether in the landscaping space, construction, plumbing, roofing, electrical work, or any other is a reliable work truck. But many beginning contractors don’t have the capital to purchase a brand new work truck.
In order to get started, many beginning contractors rent a work truck until they can afford their own. And this is a great strategy because you can have a reliable and professional-looking vehicle that you don’t have to make hefty monthly payments on while you’re busy building your business.
In addition to work truck rentals, you can also rent heavy machinery such as backhoes, bulldozers, and excavators. And this is far cheaper than purchasing this machinery out of pocket.
If you’ve ever driven around any community in the United States, or if you’ve ever been on a road trip, you’ve likely seen countless billboards lining the roadside. And you may be so accustomed to seeing them that you barely pay attention anymore.
But billboards are actually quite lucrative. In fact, just one small billboard might fetch an owner anywhere between a few hundred and a few thousand dollars per month depending on the location. And large, digital billboards along prime real estate can bring in anywhere from 30 to 50,000 dollars per month on average.
Most billboard owners purchase several billboard spaces in a given location, but these are often rented out to the highest bidder, or listed as spaces for rent. And the owner then sits back and collects passive income.
So the next time you look at a billboard on the roadside, you might just wonder who’s sitting back collecting a handsome paycheck each month all from a single investment.
You’ve probably used one. And even though it might not have been the most sanitary experience by far, you’d be surprised what these portable toilet rental companies are making off of a variety of industries.
If you think about it, there are several industries and organizations with the need for portable toilets. Such industries include construction, concert venues, disaster recovery services, sporting event venues, circuses, local festivals, and many others.
Believe it or not, depending on the company and the number of portable toilets ordered, just a single unit can cost anywhere from 85 to 275 dollars per day of use on average. But if you’re thinking of getting into this business, you’re going to want to wash your hands before you collect your money.
Rental niche companies are all around us. And you’d probably be surprised at what else you can rent instead of purchasing for far less of a price. But at the end of the day, all of these businesses have taken advantage where the need is prevalent, implemented a sound strategy, and have found a way to make rentals lucrative in a unique way.