How to Start a Scaffolding Rental Business
Small Business Ideas
Scaffolding rental business involves giving out building and construction equipments at a fee. This is a small business that can be operated at home or in a city garage in part or full time basis. This business can be successful and profitable especially if they are well planned, managed and good marketing system
applied. Clients prefer renting building equipments to purchasing because new building equipments are expensive. This business require minimum qualification and therefore easy to start.
Investor should establish the business structure he is going to employ. Some of the major business structures are sole proprietorship which is the easiest to employ. Limited Liability Company and corporations are more secure in terms of probable lawsuits. It is advisable to consult the experts on the best applicable business structure. An attractive name of the business should then be developed for registration purposes of the business.
Secure the business permits as required from the area local government for legality, compliance and tax commitment of the business.
Though a Scaffolding Rental Business can offer any kind of tool it is paramount to specialize on a particular product line. The clients will assume that you have a specialized knowledge on the line of the business taken and therefore they would expect a specialized service on the same. This helps the business in creating a particular market niche.
It is paramount to purchase reliable business insurance because of the risks involved. Tools used can cause damage or injury to the humans and the environment therefore business liability insurance becomes a requirement. It is a generally accepted rule that any company should have sufficient liability insurance to secure it from grave financial problem like bankruptcy. This will differ depending on the size and the assets of the company. It is imperative to consult with reliable insurance broker experienced in scaffolding business for recommendations.
The investor should then purchase new or used scaffolding materials after shopping around for the less expensive but used equipment. Online suppliers are cheap but have high shipping costs for heavy machinery. Market research is important so as to understand the need for the prospective market. Liaise with the local construction authority who will furnish you with the information on the number of building permits given that will translate to the number of scaffolding equipments needed.
Once the investor has sufficient information on the market needs then he should filter the product lists, keeping the ones that will be needed regularly. List of the prices should be created for daily, weekly and monthly rates of scaffolding equipments. This should be captured on brochures and distributed to the contractors and service companies within the surrounding.
For the business to be more attractive, an investor can offer delivery and collection of the scaffolding equipments free of charge. Secure a centralized, spacious location that would be easily accessible to the market established.