Large market for rental of machines and tools
Do you know why mini excavators is the term that topped the search lists on Finn.no last year? Finn.no is a large marketplace where you as a private consumer can resell what you no longer need, but which can be useful for others. Or maybe you are one of those people who prefers to buy used rather than buying brand new products? On Finn.no you can also post small jobs that you want to get done. There are also other well-known players in this industry, such as Luado , where you can post if you want to get a small job done. Luado is actually right now taking up the fight against Mittanbud.no with Luado Prosjekt according to Byggmesteren , which will only be used by serious craftsmen.
Every year, Finn publishes interesting statistics and insights on what is most searched for that year, which can be used to explore new business secrets. There has been an increase in demand for mini excavators among consumers in recent years. Norwegians are building houses and cabins like never before, and there have also been more Do-It-Yourself (DIY) users. According to a survey conducted by Repons Analyse on behalf of Luado, half of us plan to start a home improvement project in 2023. The trend of DIY is spreading, with more and more hobbyists and mechanics, often using YouTube as a source of inspiration and a textbook. Machines and tools used for this have therefore become a highly sought-after market.
2. Rising rental trend and opportunities in the market
There are many players in the market that rent out large machines to the construction industry, such as Ramirent , Cramo and Sørby Utleie . Within the rental of machines, tools and equipment for the consumer market, Do-It-Yourself users or those who are going to expand the cabin, there are not as many companies on the market yet. At the same time, there is a growing interest in doing projects yourself or hiring experienced people for small jobs. They often have the competence and motivation to do it themselves or hire someone for a small job, but then they do not have the equipment they need for the assignment. This offers great opportunities for rental companies in this market.
Dare to step out and get started can be challenging. We still see that those who dare to do this have a great chance of success in renting machines and tools. Some of the rental companies that have entered the market are LeiMegNå.no , Rentable and Arendal Eiendomsservice. These rent out in Eastern Norway and Arendal.
- LeiMegNå is a pure rental company with strong growth in recent years. They specialize in scaffolding and equipment rental for small contractors and artisan companies.
- Rentable is a carpentry company that also offers rentals as part of the business. In this way, they get income on machines and equipment when they do not use it themselves.
- The caretaker company Arendal Eiendomsservice also offers rentals in addition to caretakers and operating services.
A lot of equipment is unused in the warehouse
Several companies have large fleets of machines that are not always in use in their own projects, and have gradually seen that it can therefore be a great opportunity to start renting out the equipment. This is a good way to get an extra income and expand the business, while you get to contribute to the sharing economy and utilize everything you have of machines and equipment that are rarely used. There are also those who choose to break out of the company in the construction industry to start a rental service, because they see that there are great opportunities here to create a profitable business.
Renting does not have to be difficult, cost a lot and require a lot of time
When you already have the equipment lying in the garage or in stock unused, you can make good money by renting it out. It also does not require much from you as a landlord. Today, there are several smart systems that allow you to rent out easily. Today's technology means that renting can be at least as easy as buying a new one, and there are several self-service solutions that make renting both efficient and profitable. With good digital systems, the rental can go by itself, all you need is just to take the step and get started.
Much of the cost associated with renting is often that there is a lot of inventory that must be purchased. If you already have machines and tools lying unused in the warehouse or garage, you have already paid the largest costs. All you have left now is to get the system in place so you can take part in the circular economy and start making money.
How to start renting mini excavators, tools and other machines
We at Sharefox have many years of experience in helping rental companies in a number of industries, and have created a guide on how to get started with your rental company. Here you will find effective steps you can take to get started quickly with your service.
Do you have an idea and ambition to start renting out machines and equipment, but do not quite know how to get started?
We are happy to help launch your rental service on the market. To succeed with renting machines and tools, you need a rental system such as Sharefox.
With Sharefox, you get an all-in-one rental system that consists of a complete solution for the entire digital customer journey. The customer finds you when they research which companies offer rentals in their immediate area, they book themselves on your website and choose how they want to receive / pick up the equipment. Included in the system, you get tools to work with digital marketing, so that you become visible in the market and have the opportunity to get a good turnover from the start. As long as you have equipment and machines, we have a complete system that both helps you get customers and that you can operate efficiently.
What are you going to do now?
When you are ready… here are 4 ways we can help you expand your rental business!
- Do you want to grow your business today? Try Sharefox rental system for free - or book a demo and get a personal expert to analyze your company's situation, come up with solutions on how you can streamline your methods and create a more profitable company.
- To learn more about the Sharefox rental system , read about trends and news for free, visit our blog or visit our resources section in the main menu. Here you can download guides and e-books that we also share with our customers.
- If you want to work with circular economy , Saas and want to be part of the Sharefox team or find out why we are one of the fastest growing rental platforms in the rental industry, see our job postings here .
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