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Online rental business ideas: The ultimate list of the most profitable business

(Image credit: Image source: Shutterstock/MaximP)

Who says you need to step out of your home every morning and do a 9 to 5 to make money? Why do a job you don’t like doing when there is the opportunity to turn into an entrepreneur? You can explore the several opportunities that come your way via online rental marketplace solutions. Internet has changed the world around us and created new possibilities for business and income. Peer-to-Peer ecommerce business offers countless opportunities to start a successful business with your assets and small capital investment. This industry which was valued at $19 billion in 2017 is expected to double by 2022. Sharing economy as it is often called is expected to be a major disrupter for traditional agency based hiring model. If you are planning to explore opportunities in e-commerce rental business here is your ultimate list of most popular rental business ideas.

  • 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. Most people don’t like buying clothes for one-off use. Whether it is costume for Halloween party or those that one needs to wear for theme based events you have opportunity knocking at your door. To succeed in this business you need to maintain a good line of costumes and keep them in good shape and hygiene to build reputation. Note the trends in the market and update your inventory. As a bonus tip you must focus fancy dress costumes and you have your successful business plan in place.
  • Event Venue Rental Business – It was one of the first businesses to make use of online rental marketplace solution platforms. If you have a venue to rent out for an event use these platforms and you won’t have to ever worry about promoting your venue. Invest some of your profits for the upkeep of the venue and at the same time keep reinventing the space. Gather feedback from your clients on how you can add to the décor and amenities in the venue. The more you invest higher will be your bookings and profits.
  • Vacation Rental – It is one of the oldest rental businesses in the world. Have a room to spare during the busy travel season, you have got business waiting for you. You can also invest in a property purely from vacation rental business. Make use of social media to update on the USPs of your property and you have a successful business recipe. You can also write informative blogs on places to visit near your property and you will be Camp Equipment Rental Business – Camping equipment is costly and most amateur campers don’t want to invest large sums of money buying them. More so when they aren’t likely to use them frequently. As a professional camper you can rent your idle equipment and earn handsomely in the process. Make sure you add to the inventory taking into account the demand from your customers and in no time it would help you make money to invest in better equipment that adds to your future camping experience.
  • Music instrument Rental Business – Professional musicians have been sharing and renting out instruments for years but in the recent years this business is growing exponentially thanks peer-to-peer networking websites. As an upcoming band or an aspiring musician you can rent them out to create funds for your next big buy. You’d have instrument and equipment that you don’t use any longer for your shows and they be turned into a source of revenue.
  • Water Sports Equipment Rental – As a water sport enthusiast you are well aware of the cost of water sport equipment. Why make your equipment gather dust when you aren’t using them? Hundreds of amateurs hunt for water sport equipment on rent in peer-to-peer websites as they don’t see a fair reason to buy them for a one-off adventure.  Rather than storing equipment at your basement which can also cause irreparable damage to them you can start minting money by renting them out.   
  • Wedding Rental Business – Times have changed and couples want to make their ‘big day’ memorable. From lights to props and from photo booths to fancy furniture there are dozens of things needed to make a couple’s special day even more special. You can rent out these to event managers who are always in the lookout for these things. Help them set up a venue and you can add to your earnings. You can start this business with a small capital and make a fortune.
  • Travel Equipment Rental Portal – Travel and hospitality industry is the biggest employer in the world. It is worth close to $8 trillion. Traditional travel and hospitality service providers are failing to meet demands for the modern customers and this has given birth to the popularity of travel equipment rental. You can start your own travel equipment rental portal where you rent out everything from adventure sport equipment to cars and caravans. Make good use of social media and in no time you would see good number of bookings.
  • Furniture rentals - This business of renting out furniture is now creating new opportunities for entrepreneurs who desire to have regular revenue. The reason for calling this a regular business is that the product offered for rent comes under essentials for everyday living. Renting business as a whole makes the owner of the product or property earn money on a regular basis, maybe every month. This continuous flow of money enables the owner to even earn excess money after covering the cost of the furniture.
  • Construction Equipment & Tools‎ Rental Store – Constructions contractors don’t always see the benefit of transporting big equipment and tools to faraway locations. They rather prefer renting them locally as it helps them cut costs and reduces the risk of ownership in many cases. While such equipment was always taken on rent online rental marketplace have bridged the gap between the renter and the customer. Keep your tools and equipment in good shape and they won’t sit idle. 

To sum up online rental websites have given birth to multi-billion dollar industry and you can become part of it with a small investment or no investment at all by renting out things you already own. 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. If this isn’t gratification, what is?

Karamjit Kaur, Digital Marketing Executive
Image source: Shutterstock/MaximP

Karamjit Kaur can be best described as a Digital Marketing Executive and an Explorer. You can find her either learning about new digital marketing trends or searching for new unexplored location to travel.