Start a rental business, make more money

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Many Nigerians often think of what business to do as a way of survival, while some salary earners who are not satisfied with what they earn monthly also plan for alternative income by way of small and medium enterprises.

Uba Group

One of such businesses is the rental business. Exploring this line of business will not be a bad idea, even during economic downturns because individuals, religious and corporate organisations, among others, always find reasons to celebrate in elaborate ways.

The business presents you with the opportunity of being your own boss and does not involve much stress. The best thing about the business is that it can be run as a part time job while still in a full-time employment. All you may need to do is to get trusted family members

From engagement and wedding parties to conferences, meetings, graduation, birthday parties, and award ceremonies, among others, a good rental outfit with efficiency as watchword would always have a reason to smile to the bank.

Starting a rental service does not attract a huge capital, and it goes beyond giving out chairs, canopies and tables alone.

The business presents you with the opportunity of being your own boss and does not involve much stress. The best thing about the business is that it can be run as a part time job while still in a full-time employment. All you may need to do is to get trusted family members involved.

Other items you can rent out alongside your rental business include catering equipment, audio and visual equipment.

Catering equipment

Catering equipment rental business supplies all kinds of cooking and dining equipment for parties and events. In Nigeria, caterers combine cooking services with this business opportunity to make extra money, such as cooking pots, coolers, spoons, and cooking stoves, etc.

A set of catering equipment comes with a fixed or negotiable price. For instance, two dozens of table spoons might go for N100 to N150, while renting two large cooking spoons costs about N400. Parties and food are mutually inclusive. So, without a doubt, buying catering equipment and renting them out is a productive business.

Audiovisual equipment

The sound and lighting equipment rental business is a very lucrative venture. For instance, all that’s required is buying and renting out high-quality durable devices. Some of the equipment include speakers, microphones, stage lightings and spotlights.

In this business, knowledge of how to install lighting and sound devices is essential and some technical training before exploring this business opportunity is beneficial. Other types of audio and visual equipment for special events are fog machines, screens, projectors, and mixers.

Tent

There is no outdoor event that doesn’t benefit from the shelter a tent provides. Tents provide shelter for guests during outdoor activities like parties and other events. Setting up tents is less expensive than leasing a hall. More so, it is a stylish way to provide shelter for guests from the rain or sun.

 A tent rental business can provide one or all types of tents like canopies, pop-ups, and frame tents. Canopies are held up with aluminum poles at four corners while frame tents are larger and usually pinned to the ground. Both have polyester tops covering, which can be folded and stored after each
use.

 On a small-scale, five to 10 tents are enough to get started. This is one of the most demanded businesses within the party equipment rental industry. The business thrives because people will always want to hold outdoor events.

Chairs and tables

In organising sitting arrangements for guests, the number of chairs and tables has to be sufficient. These items are a source of income for chair rentals each week. There are several types and shapes of chairs and tables for different types of occasions. Renters buy in bulk and then rent out to party planners and hosts at a fixed price per item and per hour or day.

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