rental business ideas

Renting has evolved beyond traditional vehicles or suit hire, now encompassing everything from recreational gear to event essentials. From ski and snowboard rentals to inflatable bounce houses, the rental industry is booming, presenting exciting opportunities for entrepreneurs looking to enter the market with innovative rental business ideas.

 

In this blog, we’ll reveal 29 lucrative rental business ideas, help you decide the best rental business to start based on your circumstances and share how to start a rental company once you’ve made a decision. Whether you’re looking to supplement your income or embark on a new business venture, this guide will serve as a roadmap for navigating the exciting world of rental entrepreneurship.

29 Rental Business Ideas: What Can I Rent Out to Make Money?

Figuring out what the most profitable things to rent out are and the types of rental businesses you could start depends on various factors such as your location, target market, and initial investment budget. To help you explore viable options, we’ve compiled a list of the 29 best rental business ideas you should consider:

1. Party Rental Business

Party rentals stand out as one of the most popular and lucrative rental business ideas, known for their relatively low setup costs. For customers, hosting parties can be delightful yet challenging as buying tables, chairs, and decor for occasional events is impractical and costly. A party rental business offers a convenient, cost-effective solution, allowing customers to access necessary supplies without a hefty investment. 

 

To succeed in this fairly competitive market it may be helpful to identify a unique niche. Conduct thorough market research to uncover unmet needs in your area, whether it’s eco-friendly supplies, luxury items, or specialised themes like children’s parties or weddings. Effective marketing on social media and partnerships with local event planners can help you stand out and attract customers, making your party rental business the go-to option for memorable events.

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2. Wedding and Event Rentals

When looking at rental business ideas, wedding and event rentals is a thriving industry with significant earning potential. Unlike standard party rentals, these services cater to upscale events that demand high-quality, elegant items. By offering luxurious and customisable options such as ornate centrepieces, premium linens, bespoke decor, and even tents or marquees, you can attract clients willing to invest in creating unforgettable experiences.

 

Furthermore, this business also provides a creative outlet, allowing you to craft unique and personalised settings using your rental items for each event. Starting with a focused inventory, you can gradually expand as you build a reputation for excellence in your area. With the higher rental prices associated with weddings and large events, this venture often promises substantial returns and growth opportunities for entrepreneurs who can afford the initial set-up costs.

Wedding rentals

3. Photo Booth Rentals

Photo booth rentals enjoy widespread popularity worldwide, catering to a diverse array of events ranging from birthday parties and weddings to corporate functions and festivals. With hundreds of thousands of events taking place globally each year, investing in a photo booth rental business presents a compelling opportunity.

 

According to recent research posted on LinkedIn, the Photo Booth market on a global scale reached a value of USD 412.8 million in 2023. Given the increasing demand in the downstream market, it is projected that the Photo Booth industry will experience significant growth to reach a revised size of USD 914.5 million by 2030, with a compound annual growth rate (CAGR) of 12.0% over the review period.

 

Global search data available on Semrush indicates a substantial interest in rental business ideas, particularly those related to photo booths, with almost 354,000 searches for “photo booth” and over 10,000 searches for “photo booth rentals” worldwide. This significant demand underscores the industry’s potential and highlights the opportunity for you to capitalise on the growing trend of event rentals. 

4. Suit Rentals

For fashion-savvy entrepreneurs looking for rental business ideas, wedding suit rental offers an exciting business opportunity. Catering to individuals who need a suit for a wedding without the expense of buying one outright is a niche ripe for exploration. 

 

Conducting thorough research is essential to gain insights into market drivers, prevailing trends, and market size as well as pinpointing opportunities for business growth. If you are in the US, you can read the ‘Global Tuxedo Rental Market Size, Forecasting Share and Scope for 2023-2030‘ which outlines these factors and shares forecasts for 2030.

 

Finally, success in this venture depends on delivering excellent customer service and offering a diverse selection of luxury suits for customers to choose from. Building trust and ensuring customer satisfaction will lead to repeat business and long-term success in this competitive, yet lucrative, market.

Suit Hire

5. Costume Hire

Costume hire services provide a convenient and affordable way to elevate attire for special events, parties, and themed occasions. With a wide range of costumes from various eras, genres, and characters, your business should cater to diverse tastes. 

 

Conducting comprehensive market and competitor research is vital to pinpoint opportunities for improving success. Determine the costume preferences in your local area, and popular themes, and then evaluate the costume selections offered by competitors. You may discover that your competitors don’t offer certain in-demand costumes, potentially providing you with a competitive advantage if you add them to your inventory.

 

High-quality costumes, personalised service, and strategic partnerships with event planners and venues can help create memorable experiences and expand reach. By offering flexible rental options and ensuring timely delivery, your costume hire businesses could become the go-to destination for costume hire in your area.

6. Balloon Globes and Other Inflatable Rentals

Similar to other rental business ideas such as party rental, inflatable rentals offer new business owners a profitable opportunity. Bounce houses, jumping castles and balloon globes are a hit at kids’ birthday parties worldwide.

 

Families love these vibrant, interactive inflatables, making them a staple at annual celebrations. With high demand, investing in the inflatable rental business is a lucrative opportunity.

 

In 2023, the bounce house market was valued at USD 4 billion and is expected to demonstrate a compound annual growth rate (CAGR) exceeding 4.5% from 2024 to 2032.

 

The compact nature of deflated inflatables means minimal storage space, allowing you to start your business from home and quickly scale up from there.

Bounce house rentals

7. Party Bus Rentals

If you have significant capital and are looking for rental business ideas that are more niche, then you could consider party buses. Party bus hire services offer a unique transportation experience for group events and celebrations. With spacious interiors, entertainment amenities, and professional drivers, these buses provide a fun way to celebrate while enjoying music, drinks and the passing scenery. You could create customisable packages that cater to diverse client preferences to help craft unforgettable experiences and memories.

 

When starting this type of rental company, you must focus on exceptional customer service, safety, and comfort. Investing in well-maintained, luxury-equipped vehicles will help enhance your customers experience and will set the business apart from competitors. Building partnerships with event planners and corporate clients can also drive revenue growth in this sector.

8. Camera, Lens, and Film Equipment Rentals

Camera rental businesses are among the most successful rental business ideas due to their wide-ranging appeal, catering to everyone from college students to multinational companies. If you have a love for photography and videography this can be a profitable side business for you.

 

The broad customer base offers significant potential if you stock the right equipment. The key to success, however, is possessing the technical expertise to operate and maintain the equipment.

 

Moreover, clients often seek advice on filming and photography practices, so if you have technical knowledge in this area your expertise may be a valuable asset to your business.

 

By offering reliable equipment and professional guidance, you can establish a thriving camera rental business that meets the diverse needs of your customers.

camera equipment rentals

9. Bicycle Rentals

If you are looking for simple yet profitable rental business ideas, then you should consider renting out bicycles. Bike rental businesses are popular and affordable to start, catering to high demand and often marketing themselves. City bikes suit urban areas, while mountain and high-end road bikes are ideal for remote locations. Depending on your area, you have a better chance of success if there’s a biking community and frequent tourists.

 

The worldwide bicycle rental market reached a value of $2.1 billion in 2021 and is forecasted to achieve $11.3 billion by 2031, exhibiting an 18.5% compound annual growth rate (CAGR) from 2022 to 2031. This substantial growth not only signifies the increasing popularity of bicycle rental services on a global scale but also underscores the sector’s attractiveness as a thriving business opportunity.

 

Finally, it’s important to note that seasonality may impact profits, with summer tending to be the peak time for bicycle rentals. In the northern hemisphere, expect peak business from mid-May to August, and in the southern hemisphere, from November to February. To stay busy year-round, you could target local riders, diversify by offering winter rental equipment or add a services and repairs to ensure steady traffic.

10. E-bike Rentals

E-bike rentals are becoming increasingly popular, riding the wave of growth in the broader bike rental market. The appeal lies in their ease of use and ability to cover longer distances with minimal effort compared to traditional bikes.

 

While starting an e-bike rental business may be one of the more costly rental business ideas in comparison to regular bikes, it can pay off, especially in big cities and areas where shops are far apart or tourists enjoy long countryside rides.

 

Even though e-bike rentals aren’t as common, e-bike rentals offer promising profit margins. As more customers switch from cars to e-bikes for cost savings and convenience, this trend is only going to get bigger, making it a smart industry to consider getting into.

E-Bike Rentals

11. Ski and Snowboard Rentals

If you are looking for rental business ideas that could complement your summer rental business or you are a winter sports enthusiast then consider starting a ski and snowboard rental business. These rentals provide customers with convenient access to essential equipment for alpine adventures. With a diverse selection of skis, snowboards, boots, and accessories available for rent, your business can cater to individuals of all skill levels and preferences. 

 

By offering well-maintained gear and expert advice on equipment selection and mountain conditions, you can enhance the skiing and snowboarding experience, promoting enjoyment and safety on the slopes.

 

To succeed in the ski and snowboard rental industry, you should prioritise customer satisfaction and safety by ensuring the quality and condition of rental equipment. Partnering with ski resorts, lodges, and winter sports events can help attract a steady stream of customers and increase brand visibility.

12. Canoe and Kayak Rentals

For those looking for low-cost rental business ideas, canoe and kayak rentals offer an attractive option. With a minimal initial investment compared to other rental ventures, this market experiences peak popularity during the summer months, capturing the hearts of outdoor enthusiasts eager to paddle across picturesque lakes and rivers.

 

As a result, this business rental idea is perfect for areas popular for camping and outdoor activities, canoe and kayak rentals tap into the widespread love for exploring nature’s beauty.

 

To stand out, consider offering delivery services and broadening your customer base beyond local enthusiasts. It may also be wise to see there is an unfilled need in your area that your competitors haven’t capitalised on yet. An example may be glass bottomed kayaks that allow offering visitors a mesmerising glimpse into the captivating underwater scenery beneath them.

Kayak and Canoe Rentals

13. Boat and Yacht Rentals

Boat and yacht rentals for events or parties offer a glamorous and in-demand rental business opportunity, but their high initial investment cost does make them one of the more challenging rental business ideas. That being said, hosting gatherings on the water has become increasingly popular for weddings, corporate events, and special occasions, promising a luxurious and unforgettable experience.

 

However, embarking on this venture requires a significant initial investment to acquire and maintain a diverse fleet of vessels. Your business can stand out by offering customisable packages and personalised services, cultivating partnerships with event planners, and prioritising safety and exceptional customer service. 

Hubtiger software for repair and rental businesses

Supercharge your rental business with Hubtiger!

Explore the full range of Hubtiger’s capabilities for free.

No card required. No software to install. No binding contracts.

14. Golf Cart Rentals

Golf cart rentals stand as a profitable niche within rental business ideas, offering mobility and convenience for various events and venues worldwide. In 2023, the worldwide market for golf carts reached a value of USD 1.8 billion. Projections indicate a growth trajectory from USD 2.00 billion to USD 3.29 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 6.4% throughout the forecast period.

 

From golf courses to resorts and recreational facilities, the demand for golf carts continues to rise, presenting a promising opportunity for you.

 

Investing in a golf cart rental business provides a versatile solution for individuals and businesses alike, catering to leisurely rounds of golf, event transportation, and property exploration. With the growing trend of eco-friendly transportation options the demand for golf cart rentals is poised for sustained growth.

golf cart rentals

15. Diving and Snorkelling Equipment Rentals

Diving and snorkelling equipment rentals represent an exciting niche within rental business ideas, catering to enthusiasts and travellers globally. With increasing interest in underwater exploration, investing in this venture offers fruitful opportunities for entrepreneurs.

 

Offering a range of high-quality gear, including masks, fins, snorkels, and diving tanks, ensures customers have access to essential equipment for their aquatic adventures. By strategically locating rental outlets near popular dive sites and prioritising exceptional customer service and safety standards, you can establish a successful diving and snorkelling rental business.

16. Camping and Hiking Gear Rentals

If you have a passion for the outdoors and you’re looking for small rental business ideas, then consider renting out camping equipment and accessories. Camping and hiking gear rentals cater to beginners and enthusiasts unsure about investing in equipment they may rarely use.

 

Especially prevalent in areas near outdoor destinations, this business venture thrives, especially with the surge in glamping rental businesses.

 

Popular rental items like tents, sleeping bags, backpacks, and stoves offer practicality and affordability, sparing customers from costly one-time purchases. With the allure of outdoor adventures transcending seasons, this business isn’t bound by timing, ensuring a steady stream of customers looking to escape city life year-round.

camping and hiking rentals

17. Fishing Gear Rentals

Fishing gear rentals offer outdoor enthusiasts easy access to quality equipment for recreational angling. With a wide range of rods, reels, tackle, and accessories, these rentals cater to anglers of all skill levels.

 

By providing well-maintained gear and expert advice on techniques and local hotspots, your business can enhance the fishing experience, leading to heightened customer satisfaction and enjoyment.

 

To thrive in this industry, you should focus on personalised customer service and memorable experiences. Collaborating with local charters, marinas, and tourist attractions can draw in more customers. By investing in digital marketing and online booking systems, your business can streamline operations, attract more customers, and offer added convenience for both your employees and clientele.

18. Caravan and RV Rentals

Venturing into RV rentals is proving to be a fruitful avenue within rental business ideas, especially with the rising trend of remote working. While the initial investment is higher, so are the potential rental rates.

 

In 2023, the global market for RV rentals reached a value of USD 875.4 million, with a projected growth rate of 7.48% from 2023 to 2033. By 2033, it is anticipated that the global RV rental market size will hit USD 1500 million.

 

RVs and caravans, timeless favourites since the 1960s, are in high demand as people increasingly seek flexible travel options that allow them to work remotely while exploring new destinations.

 

Additionally, starting an RV and caravan rental business doesn’t always demand a large investment, particularly when purchasing used vehicles. With thorough research and strategic planning, you can optimise operations to ensure profitability and success in the market.

Campervan rentals

19. Motorcycles and Scooter Rentals

One of the most popular rental business ideas in the summer months worldwide is motorcycle or scooter rentals for tourists. Motorcycle and scooter/moped rentals offer an exhilarating way for travellers to explore destinations with freedom and flexibility. You can tap into this growing demand by providing well-maintained vehicles and personalised customer service to attract both local and international tourists seeking memorable travel experiences.

 

To succeed in this competitive market, prioritise customer satisfaction and safety, maintain a reliable fleet of vehicles, and leverage digital marketing strategies to reach a broader audience. Additionally, establishing partnerships with hotels, tourist attractions, and travel agencies can enhance visibility and drive business growth in the motorcycle and scooter/moped rental industry.

20. Limo Hire

Another one of the rental business ideas that has a higher setup cost is limo hire, which is something to keep in mind if you are interested in starting this type of venture. Limo hire services offer luxurious and stylish transportation for special occasions, corporate events, and celebrations.

 

With their elegant interiors and professional chauffeurs, limousines provide a memorable and prestigious experience for clients seeking sophistication and comfort. You can capitalise on the demand for upscale transportation by offering limo hire services tailored to various events and occasions.

 

By providing impeccable customer service, maintaining a diverse number of well-appointed vehicles, and ensuring punctuality and professionalism, your business can attract clients seeking premium transportation options.

limo rentals

21. Slingshot, Dune Buggy, RZR and ATV Rentals

Slingshot, dune buggy, RZR, and ATV rentals are some of the biggest business rental ideas in the tourism industry and their popularity is growing steadily. These vehicles offer exhilarating outdoor adventures for tourists looking for an adrenaline rush. You can tap into this growing demand by providing well-maintained fleets and comprehensive safety measures.

 

In 2023, the ATV Rentals & Tour Services industry in the United States alone achieved a market size of $684.2 million in revenue. Before deciding which vehicles to rent out, it’s essential to evaluate demand and competitors. You may discover a higher demand for a particular type of vehicle in your area. Understanding what’s in demand allows you to assess competitor offerings and identify opportunities to differentiate your business.

 

To succeed in this dynamic sector, prioritise customer safety and satisfaction, maintain a diverse fleet of vehicles, and forge strategic partnerships with outdoor recreation centres and adventure tour operators. By offering thrilling experiences and exceptional service, your business can carve out a profitable niche in the outdoor rental market.

22. Power Tool Rentals

Power tool rentals stand out as a prominent niche within rental business ideas. Many customers embarking on DIY projects, regardless of size, find it hard to justify purchasing expensive power tools for just one project, making rentals a practical and appealing option.

 

Since the majority of expenses in DIY projects are often linked to power tools and materials, opting for rentals can lead to significant cost savings and added value for customers. This growing trend shows the potential profitability of investing in a power tool rental business.

 

Despite the initial investment challenges, effective marketing can elevate your business into a significant income generator, especially with the rising popularity of home improvement projects.

power tool rentals

23. Heavy Machinery Rentals

Out of many rental business ideas, heavy machinery rentals can be profitable ventures, especially if you have experience in the construction and industrial sectors. The key to success lies in understanding the specific needs of your target clientele and investing in a diverse fleet of machinery that caters to various projects and industries.

 

To thrive in this competitive market, consider forging strategic partnerships with construction companies, infrastructure developers, and manufacturers to ensure a consistent customer base. 

 

Furthermore, it’s crucial to prioritise health and safety compliance (specific to your country) by ensuring all vehicles are well-maintained and meet industry standards. Regular maintenance and safety inspections will enhance the reliability and safety of your equipment, fostering trust and loyalty among your customers.

24. Skip/Dumpster Hire

If you are looking for rental business ideas that a sector can’t do without then skip hire is an excellent option. Skip and dumpster hire services are vital for waste management in construction, renovations, and large cleanups.

 

Reliable and efficient, these services help clients dispose of waste responsibly while adhering to environmental regulations. Offering a range of sizes, they accommodate both residential and commercial needs.

 

To thrive in this industry, you should focus on customer satisfaction by ensuring prompt delivery and collection. Building strong relationships with construction companies and property managers can generate repeat business and referrals. Streamlined booking and transparent pricing can further enhance the customer experience and set your business apart in a competitive market.

dumpster hire

25. Trailer Rentals

Trailers stand out as an accessible and affordable rental business idea, requiring minimal investment to get started. With just three aluminium trailers of varying sizes, you can tap into a market with consistent demand for moving, waste disposal, and transporting large items.

 

The versatility of trailer rentals allows for an easy proof of concept, with the option to sell second-hand units if needed. Because trailers are robust and tend to have a low depreciation, this may be a profitable rental business idea as it offers you a low-risk opportunity to test demand. If you find the demand is too low you may be able to sell the trailers with little fuss and recoup your investment.

26. Mobility Equipment Rentals

If you are looking for impactful rental business ideas, mobility equipment rental presents a compelling opportunity. Providing wheelchairs, scooters, and other mobility aids, this niche serves a diverse clientele, including seniors, individuals with disabilities, and travellers.

 

In an increasingly inclusive society, accessibility is paramount. Offering mobility equipment rentals not only meets a crucial need but also promotes independence and freedom of movement for those with mobility challenges. With the ageing population and rising awareness of accessibility issues, this rental business idea is poised for sustained growth and societal impact.

mobility equipment rentals

27. Medical Equipment Rental

If you have substantial funds and are looking at rental business ideas, then medical rentals could be something to consider. Medical equipment rental can be a lucrative business avenue, addressing varied needs within the healthcare sector. Whether for personal use or hospital rentals, this niche offers crucial apparatus like patient monitors, specialised machinery, and rehabilitation equipment.

 

In 2021, the global market for medical equipment rentals was valued at USD 54.80 billion. By 2030, it is anticipated to reach USD 87.37 billion, with a compound annual growth rate (CAGR) of 5.32% over the forecast period from 2022 to 2030.

 

Starting this venture requires careful planning, including market research and financial assessments. It has the potential to address gaps in healthcare provision and may allow for monthly rentals by hospitals or care facilities, driving profits. Key factors for success include understanding competitors, gauging demand, and having the financial capacity to invest in inventory.

28. Baby Equipment Rentals

If you are interested in less conventional but highly profitable rental business ideas, then baby equipment rentals may be an option. Considering the practicalities involved for parents, items like strollers/prams and car seats can be cumbersome to lug around, especially when travelling and shuffling around crowded airports. This makes renting these items a much more convenient option for most families instead of bringing these items from home.

 

Additionally, search trends reveal a significant uptick in interest in baby equipment rentals in recent years, highlighting a growing market and presenting a prime opportunity for entrepreneurs looking to enter the rental business scene.

 

According to a report by HTF Market Intelligence, the global stroller rental market is anticipated to grow at a rate of 5.5%. By 2030, it is expected to reach a market size of USD 6.9 billion, increasing from USD 5.03 billion in 2023.

Baby equipment rentals

29. Gym Equipment Rentals

Gym equipment rentals provide a flexible, cost-effective way to maintain fitness routines without buying expensive gear. With a variety of machines, weights, and accessories available, customers can easily access quality equipment for home workouts or training sessions. Flexible rental terms, prompt delivery, and setup services cater to diverse fitness needs, promoting a healthy lifestyle.

 

To succeed, your business should curate high-quality equipment, build partnerships with fitness centres and trainers, and use digital marketing and social media to attract and retain clients.

Hubtiger software for repair and rental businesses

Supercharge your rental business with Hubtiger!

Explore the full range of Hubtiger’s capabilities for free.

No card required. No software to install. No binding contracts.

How to Start a Rental Company?

Once you’ve researched various rental business ideas, make an informed decision on which business to start based on detailed analysis and strategic planning. To establish a rental company, conduct market research, select a unique niche, and develop a comprehensive business plan to ensure differentiation and growth. Enhance your brand’s visibility and engage with customers through targeted marketing strategies across both online and offline channels.

 

Additionally, it is essential to utilise rental management software to streamline operations, optimise inventory management, and deliver exceptional customer experiences. For a step-by-step guide, please read our comprehensive blog on how to start an equipment rental business for more information.

Hubtiger’s Rental Management Software

We hope you’re excited to start your rental business and no matter what type of rental business you choose, Hubtiger has the ultimate solution for you. Our rental inventory software includes all the essential features you need to succeed and seamlessly integrates with popular POS and payment processing platforms.

 

If you run a service and repair workshop and are considering expanding into rentals, Hubtiger also provides workshop software that integrates effortlessly with our rental solution. By using both platforms, you can benefit from a 30% discount on the lower-priced monthly subscription.

 

To learn more, book a demo to see our software in action or start a free 7-day trial. We hope you found this blog on rental business ideas helpful, and if you have any questions, please feel free to reach out to us.