Business Idea

Become A Tech Rentals Provider

About

Becoming a tech rentals provider requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell tech rentals, or selling tech rentals online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1B
starting costs
$15.8K
gross margin
90%
time to build
7 months

About

Becoming a tech rentals provider requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell tech rentals, or selling tech rentals online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$1B
starting costs
$15.8K

 

gross margin
90%
time to build
7 months

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $150 $250
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Other Expenses $0 $800
Total Startup Costs $2,465 $29,059

Successful Businesses

Business URL Rank
Propertyware propertyware.com #22,600
Allconnect allconnect.com #31,040
Luxury Apartments for Rent udr.com #43,839
United Rentals unitedrentals.com #52,197
Ryder Website ryder.com #62,193
Aaron’s: Rent to Own Furniture, Electronics, Appliances aarons.com #79,881
Field Service Management servicemax.com #137,199
Zeus zeusliving.com #230,946
Travel Technology Company provab.com #281,665
Morgan Industrial Technology morganitech.com #304,023
Alpha Technologies Services Inc alpha.com #305,832

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a tech rentals provider costs significantly less money than most businesses, ranging anywhere from 2,465 to 29,059.
Rewarding work Starting a tech rentals provider 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.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your tech rentals provider started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your tech rentals provider, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A tech rentals provider 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 tech rentals provider, 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 tech rentals provider, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a tech rentals provider, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a tech rentals provider, 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.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Direct Sales

    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.

  • 3

    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.