Start A Crate Rental Company
April 23rd, 2019 by rentmysupport
Start A Crate Rental Company
Start A Crate Rental Company - RentMy Feature Article - You can rent or sell anything! Why not try a crate rental company? Moving season is upon us, and now is a great time to capitalize on one of the hottest trends in local residential & commercial moves: reusable crate rentals. Keep these things in mind when starting a moving crate rental company.
Supplies
There are many sources for all that you need to begin your business, including
Uline,
Plastic Crate and
Alibaba. You can find accessories (like paper, bubble wrap and other supplies) at a variety of outlets (
PaperMart and
Packaging Supplies).
Once you have your supplies, you'll need to define your service area and set your pricing. Factors you should consider are:
Competitive pricing
Study your local competition to find what your market will bear. You will likely also want to set ROI (return on investment) hurdles for your pricing. If a single tote costs $25 at wholesale, you may want to price it at $1.99 per day, which means after 13 rental days, it will have paid for itself (assuming that the crate has a usable life beyond that period).
Delivery options
Will you offer pick-up at your location? Delivery only? Both? In our survey of providers across the country, many offer a free dropoff/pickup option (for a given service area). Allowing a customer to come to you to pick up the items will save you money, so you may consider creating a "pop up" location on busy moving days (like Fridays/Sundays and beginning/end of the month).
Packaging - Make it easy for your customers to rent your equipment. The typical rule for packaging is to offer 15%-18% off of the price for renting equipment items individually. In exchange for the discount you're offering, you can often convince customers to rent more than they may have if they estimated their needs on their own. "Bedroom"-style packages are helpful (for example: 1-bedroom, 2-bedroom and 4-bedroom packages), in which all of what your customer may need with a single order.
Inventory Management - Booking orders when you don't have enough equipment to serve the customer can ruin your business. A few disgruntled customers who were left high and dry on their moving day can create a lot of headaches for a startup. Find a program (no, not Google calendar) that can make inventory management foolproof.
Ordering - Movers are busy, and often don't have time to call during business hours, and having an online (especially mobile-friendly) rental option is a necessity for any business to succeed. Finding a local website development firm and directing what you want for your customers will be time-consuming and likely expensive.
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