How Much Does It Cost To Start A Power Tool Rentals Business? (In 2022)

How Much Does It Cost To Start A Power Tool Rentals Business? (In 2022)
Start A Power Tool Rentals Business

Wondering how much it costs to start a power tool rentals business?

  • The minimum startup costs for a power tool rentals business: $1,817
  • The maximum startup costs for a power tool rentals business: $27,209
  • The average startup costs for a power tool rentals business: $13,936

Here's a detailed list of a power tool rentals business startup costs:

Software Expenses

Your power tool rentals business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost
File Hosting Service Recommended $0 $299
Email marketing tool Recommended $0 $100
Accounting & Invoicing Software Recommended $0 $50
Project Management Software Recommended $0 $25
Internal Communication Tool Recommended $0 $20
Design Programs & Software Optional $0 $50
IT Support ➜ Optional $150 $2,000
Social Media Management Tools Optional $0 $50
Payroll Software Optional $0 $200

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your power tool rentals business grows.

Cost Required? Min Cost Max Cost
Rent ➜ Optional $0 $5,750
Utility Costs For Office Space ➜ Optional $0 $1,150
WiFi & Internet ➜ Optional $0 $100

Inventory Expenses

If you sell a physical good, you'll likely have to start with some inventory.

Cost Required? Min Cost Max Cost
Upfront Costs For Inventory Optional $300 $5,000
Inventory Storage Optional $0 $5,000
Package Design ➜ Optional $50 $3,000
Shrinkage Optional $0 $1,000
Distribution costs Optional $0 $750

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜ Required $12 $200
Business Email Hosting Service ➜ Recommended $1 $15

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Customer Research & Surveys Optional $0 $300
Affiliate Marketing Commission & Fees Optional $0 $250
Influencer Marketing Optional $0 $750
Press Optional $0 $500
Google Ads Optional $0 $300
Facebook & Instagram Ads Optional $0 $350

Pat Walls,  Founder of Starter Story
Want to start your own business?

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