Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • lawtz04
    • By lawtz04 18th Aug 08, 8:59 PM
    • 533Posts
    • 28Thanks
    lawtz04
    Hiring Things Out Ideas
    • #1
    • 18th Aug 08, 8:59 PM
    Hiring Things Out Ideas 18th Aug 08 at 8:59 PM
    Hiya

    Whilst chatting with my partner tonight we stumbled onto the topic of making money and we came onto the idea of hiring things out. A good example (although its been in business for years) is a local company who hire out building and other such industrial equipment. They do all sorts from cement mixers to big gas barbeques.

    Although they probably spend a bit on insurance and buying equipment i would imagine they still make a pretty decent profit.

    It got me thinking about other things you could have. I thought about a games studio with games consoles etc (like an arcade i guess but no gambling and maybe a booking policy. But then I thought maybe with "the kids of today" (how old fashioned) I'd might struggle with it being a secure environment.

    I just wondered if anyone else rents anything or has any good ideas about things you could rent. Photographic studio's was another one we thought of.
    I've just started entering the competitions (July 07). When I win I'll update this signature. Look on the bright side, I shouldn't have to update it very often.
Page 1
  • Papabuilt
    • #2
    • 18th Aug 08, 11:17 PM
    • #2
    • 18th Aug 08, 11:17 PM
    I rent out my drive and those of neighbours when they are on holiday. To local businesses. The money isn't great but everyone is happy.
  • natc
    • #3
    • 21st Aug 08, 12:11 PM
    • #3
    • 21st Aug 08, 12:11 PM
    I think its a great idea if you can find a good product to hire out....i have also thought of this, on a small scale though, like chocolate fountains, hire cars - weddingy stuff really! i know someone who used to hire out bouncy castles and one of those tall floaty figures blows air through it, cant remember what they are called but made a decent living from it, dont know if he still does it.
    • lawtz04
    • By lawtz04 21st Aug 08, 5:30 PM
    • 533 Posts
    • 28 Thanks
    lawtz04
    • #4
    • 21st Aug 08, 5:30 PM
    • #4
    • 21st Aug 08, 5:30 PM
    I guess its all to do with what you can afford to shell out initially, then upkeep of whatever it is your hiring out. Not sure if you'd need insurance for the bouncy castle but thats not a bad idea really!

    Anyone else any thoughts?
    I've just started entering the competitions (July 07). When I win I'll update this signature. Look on the bright side, I shouldn't have to update it very often.
    • red devil
    • By red devil 21st Aug 08, 11:44 PM
    • 10,088 Posts
    • 7,402 Thanks
    red devil
    • #5
    • 21st Aug 08, 11:44 PM
    • #5
    • 21st Aug 08, 11:44 PM
    how about your own carpet cleaner? Let them have it for say a week. You would have bought it anyway for your own home.:confused:
  • Lady_Lazarus
    • #6
    • 22nd Aug 08, 12:06 AM
    • #6
    • 22nd Aug 08, 12:06 AM
    What about Van with a Man/Woman/Drive it yourself etc? I have been looking for one for weeks and all I could find were websites offering all day/weekly rental from £60.00 Only wanted it locally for an hour or so!
    DEBT JUNE 2008 - £17,807.53
    DEBT SEPTEMBER 2008 - £16,325.70

    WINS: £150 THEATRE TOKENS, £100 CASH, MAMMA MIA SOUNDTRACK, RIZZLA WALLET, TREK BAR, BOTTLE OPENER, KEY RING
    • lawtz04
    • By lawtz04 22nd Aug 08, 5:13 PM
    • 533 Posts
    • 28 Thanks
    lawtz04
    • #7
    • 22nd Aug 08, 5:13 PM
    • #7
    • 22nd Aug 08, 5:13 PM
    Im not sure what sort of service you mean Lady. You mean just someone who needs a van for a few hours?

    I've thought about games consoles - cant remember if i put this in my previous message (can see it when your replying can ya!)
    I've just started entering the competitions (July 07). When I win I'll update this signature. Look on the bright side, I shouldn't have to update it very often.
  • happy332
    • #8
    • 15th Jun 11, 1:09 PM
    Hire your things out that you don't use
    • #8
    • 15th Jun 11, 1:09 PM
    Hi

    Just reading about the hiring out things. It's a new concept that people or hiring out their unused things. Parking spaces, driveways, garages even a bedroom is up for hire. Nowadays we all need a little extra and you may have something in the shed that could be hired out, it's an endless list. A new site mythings4hire do just this and provide a space for you to advertise your things you want to hire out. They have an offer on at the moment 6 MONTHS FREE. It's a new idea and a good one.
  • mitch161
    • #9
    • 15th Jun 11, 10:24 PM
    • #9
    • 15th Jun 11, 10:24 PM
    lawtz it appears to me you are looking more for idea's of renting out building space with your idea's of photo studio, arcades etc.

    with business rates / mortgages or leasing costs eating into your monthly income along with insurance etc this would only be viable if you had a business that wanted to move in long term. great once they moved in you just receive the rent from them without any work. Well in reality this is not the case. maintenance and other factors occur more often then lets say buy-to-let housing.

    in a buy to let house if a bulb blows most occupents would buy their own. if a florescent bulb blew in a business premises they'd be phoning you up for a electrician to come around and also some businesses may claim loss of income due to building work. which is where some businesses that rent out space are always popping in to do maintenance checks.

    if renting space is a plan (if thats the path you are looking for) then buy to let can be less hassle and more guranteed income as there are lots of people looking for homes as apose to businesses looking to rent premises at hgher costs the standard leasing.

    think about it. to cover all your costs and make a profit you would be looking to charge a rent higher then bills. not many companies would want to do this as its not financially beneficial. and their costs of painting the walls white for a photo studio or installing extra electrical sockets to plug in the 2 dozon XBOX and LCD screens would not be financially viable if the business would only rent for a month.

    businesses wanting long term leases want property in high visable places where natural footfall is high to reduce their advertising costs. and most properties in highstreets and side streets of town centres are already owned by councils. so unless you already have a prime spot building already paid for in full and your willing to keep an eye on it then business leasing is not a plan..

    personally using the space IE you being the manager of a arcade is more profitable, but still not as viable because most kids these days have internet connected to their xbox's at home.. possibly if you wanted to open a arcade style thing. it would have to be treated as a "tournament" event thing. but still risky customer wise.

    renting/hiring equipment is more profitable. but if you want to stick to property renting. look more into domestic lettings more then business letting.
    • geordie joe
    • By geordie joe 15th Jun 11, 10:51 PM
    • 8,399 Posts
    • 8,453 Thanks
    geordie joe

    One of our polls on ezonomics.com
    Originally posted by eZonomics
    Spammer, go away.
  • eZonomics
    Spammer, go away.
    Originally posted by geordie joe
    Apologies - it was not an attempt to spam, simply thought a bit of research on this topic might be of interest.
    • MikeyMacbeth
    • By MikeyMacbeth 16th Jun 11, 11:14 AM
    • 146 Posts
    • 266 Thanks
    MikeyMacbeth
    Apologies - it was not an attempt to spam, simply thought a bit of research on this topic might be of interest.
    Originally posted by eZonomics
    Perhaps a better way to have put it would have been "according to a poll I read on a website...." rather than directly promoting your own site. MSE have to justifyably careful of poeple promoting their own businesses on the forums here as it can mislead people who are loking for genuine help and advice from the not inconsiderable body of wisdom of people on here....

    Regarding the OP - I like the idea sounds as though you may have something. Probably you need to be looking at stuff / facilities that are expensive to buy for a one off but there is a steady demand for (that's why the tool hire thing works)
  • happy332
    Hi

    I think for many Londoners their will be many opportunities to rent out their spare room, car space or even storage whilst the Olympics are on. They can also take full advantage of tax free earnings under the Government's "Rent a Room" scheme.

    A great site that could help with this is mythings4hire .
  • jhp
    Hi

    I think for many Londoners their will be many opportunities to rent out their spare room, car space or even storage whilst the Olympics are on. They can also take full advantage of tax free earnings under the Government's "Rent a Room" scheme.

    A great site that could help with this is XXXXXX
    Originally posted by happy332
    Second time you have promoted your own site in this thread.
    • dingdongavoncalling
    • By dingdongavoncalling 25th Jul 11, 7:17 PM
    • 562 Posts
    • 906 Thanks
    dingdongavoncalling
    There is a family near me that hires bouncy castles, sumo suits, bouncy slide, chocolate fountains etc, etc. They've got loads! They're known by everyone and do kids birthday parties, weddings, night clubs to school summer fetes.
    • Little Miss Uni-Debt
    • By Little Miss Uni-Debt 26th Jul 11, 12:00 AM
    • 827 Posts
    • 2,868 Thanks
    Little Miss Uni-Debt
    If you have a nice home and a spare bit of floor then rent it out on AirBnB.com

    The key is taking awesome photos!
    Total@ LBM - Nov07 £14k - Nov 08 £5765 - Aug 09 £3k Dec 09 £998 - May 11 £6900 - Jun 12 £8k Sept12 £7k 19.5k Done - 0k to go
    DEBT FREE! Nov 15
    Proud DFW Club Member - #1073
    '1% at a time' Member - #1!
  • mila_30
    Hi

    Just reading about the hiring out things. It's a new concept that people or hiring out their unused things. Parking spaces, driveways, garages even a bedroom is up for hire. Nowadays we all need a little extra and you may have something in the shed that could be hired out, it's an endless list. A new site mythings4hire do just this and provide a space for you to advertise your things you want to hire out. They have an offer on at the moment 6 MONTHS FREE. It's a new idea and a good one.
    Originally posted by happy332
    This so new, I never heard about this before. I will check on it now because I have some space and as well as vehicles that could be use in this new business. Thanks for sharing the information.
    • MattSS
    • By MattSS 26th Jul 11, 11:01 AM
    • 156 Posts
    • 533 Thanks
    MattSS
    This so new, I never heard about this before. I will check on it now because I have some space and as well as vehicles that could be use in this new business. Thanks for sharing the information.
    Originally posted by mila_30
    So new they have one listing! Got to promo a new business somewhere I suppose
    "He hopes and he wished it but it didn’t fall in his lap so he ain’t even here"
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,082Posts Today

6,366Users online

Martin's Twitter