One of the greatest business opportunities that exist is hiring out things. The idea works really well for a couple of reasons namely the impressive returns and the fact that you do not need to be an expert. All you have to do is own the equipment. We’ve spoken about equipment hire business ideas before and we are going to look at more hire based business ideas that have the potential to be very lucrative if you can put together the right set of conditions for the business to succeed. For each of these, the idea is simple, own item, rent out an item and get compensated for the rental.
Its become so much easier to document our lives thanks to the leaps and bounds that have been made in technology. While a mobile phone is good enough to capture everyday moments you really want a professional level set up for your special occasions. Weddings, birthdays, company events, holidays and other celebrations require something top class. People appreciate this. So providing video equipment for hire could land you in a lucrative business. The idea is to hire out the equipment but it is foreseeable that people may require expertise to go along with the equipment so consider that a caveat.
Special occasions may call for some fancy dress. Sure there are clothes at home but sometimes you need something special, something that makes a statement. Clothing hire for special events is already big business. Bridal dresses and tuxedos would obviously be the most popular items you can hire out but you can find more items that will be popular with the market.
Lockdown closed gyms. While gyms are about more than the equipment there you will have to admit that the equipment is a really big draw. Of course, we understand in light of Covid-19 why the gyms were closed and people may not be in a rush to get back to gyms even as they open up for those same reasons. Hiring out gym equipment is a really good business idea that could be very lucrative to the right person. Think about it, someone hiring a weights machine that covers multiple exercises for the price of a gym membership. Well worth it to my mind.
The democratisation of creative media from both a creation and publishing perspective means vast opportunities are opening up for creative people. However, the costs of the right equipment can be prohibitive especially for people trying to find their feet in the area. You can come in here and offer equipment for hire. What sort of equipment? Ring lights, microphones, laptops, lighting equipment, gimbals, drones and so much more. Who will hire this equipment? Musicians, podcasters, visual creators and many more.
The idea seemed a bit crazy to me at first but after thinking about it there is certainly a huge opportunity in hiring out specialised cleaning equipment. You won’t get away with hiring out a basic vacuum cleaner here but something like a carpet cleaning machine or a high-pressure steamer could be really big business. You can imagine with Covid-19 putting a spotlight on hygiene, not that we needed to wait for it, we should expect a greater focus on specialised cleaning equipment. Imagine a takeaway kitchen, they will likely not steam clean every day but fortnightly or monthly sounds reasonable to me.
With lockdown finally being relaxed and entertainment facilities opening up to people because of the vaccination campaign we can definitely look forward to more events happening. With that and the summer about to descend upon us coupled with the festive season, there is likely to be a lot going on. Zimbabwe has a great love affair with outdoor entertainment and very hot summer. Refrigeration equipment is a great business area to get into.
Braai stands and equipment
Close related to the idea of summer and festivities is braaing. We love to braai and for outdoor events where people go to braai, there’s a great opportunity to hire out braai stands. The best part is braai stands can be made from very modest materials and still do the job just right.
Hire businesses present a very good return on investment with very little expertise required. This makes them a very good business idea for people who may feel they do not have a lot of marketable expertise but want to go into business and realise good returns.