Purchasing office furniture, PABX pr IP telephones, photocopy machines, laptops, and conference room equipment will break the bank, especially for new startups. Renting office equipment has become more cost-effective for startups and businesses expanding to new locations.
Therefore, if you are planning to start a rental business but are unsure, consider office equipment rental. Business projects, conventions, Trade shows, business conferences, and corporate events require rental office equipment.
Starting an office equipment rental requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell office equipment rental, or selling office equipment rental online, you can use this page as a guide for everything you'll need to know.
|Min Startup Costs||Max Startup Costs|
|Employee & Freelancer Expenses||$151||$252|
|Business Formation Fees||$600||$4,700|
|Retail Business Expenses||$1,250||$6,650|
|Advertising & Marketing Costs||$75||$3,986|
|Office Space Expenses||$0||$100|
|Specific Industry Expenses||$0||$500|
|Total Startup Costs||$2,461||$35,923|
|Atlantic Tomorrow's Office||tomorrowsoffice.com||#618,070|
|PRO EM National Event Services||proem.org||#1,063,358|
|Superior Cleaning Equipment||sceclean.com||#1,086,324|
|Copier/Printer Leasing, Rental, Sales, Repair & Supplies||copiersuperstore.com||#1,095,519|
|Office Color Copiers, Printers, and Office Machines||osot.com||#1,192,265|
|PVI Office Furniture||pvipvi.com||#1,388,787|
|Office Furniture Resources||ofr-inc.com||#1,581,074|
|Xerox Business Solutions||xeroxbusinesssolutions.com||#1,600,570|
Pros & Cons
|Little startup costs required||The cost to start a office equipment rental costs significantly less money than most businesses, ranging anywhere from 62 to 35,923.|
|Rewarding work||Starting a office equipment rental can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.|
|High customer retention rates||Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.|
|Pick & choose the clients you work with||Office Equipment Rentales have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!|
|Control of workload||With starting an office equipment rental, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.|
|Gain exposure and experience||This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!|
|Motivation of employees||If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.|
|Longer Sales Process||A office equipment rental can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.|
|Work can be inconsistent||As a office equipment rental, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.|
|Lack of benefits||With a office equipment rental, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.|
|Taxes||As a office equipment rental, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.|
|No safety net||Typically, as a office equipment rental, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.|
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
Word of mouth
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
Social Media Advertising
Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.
According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.
Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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