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Nairaland Forum / Nairaland / General / Business / Rental Business - How Profitable? (36312 Views)
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Rental Business - How Profitable? by ayomifull(f): 2:56pm On Aug 26, 2008 |
I loved this business while i was back home, probably because i had an uncle in Abeokuta, Ogun State who was into it and made good money within about 10 months and i have always wanted to go into it as well until i left the country. Its been a while now but i till have it on mind and still wish to go into it but because it has been a while i left and dont really know how it is now i just want to know if people who have an idea of this business thinks it is still profitable and if there are specific areas one can best do it. If this business is still what i thought i really would love to partner (can provide the capital) with anyone i can trust. Guys do you think this business of rental is still profitable? I mean chairs, tables, tents etc. |
Re: Rental Business - How Profitable? by IykeD(m): 8:26am On Sep 02, 2008 |
Trust me, this biz is very profitable.I have always had an eye on it and it is never too late to start one, though capital is a big factor.You may not limit it to just renting tents, chairs and tables.You may go into full event management, where your company will be in charge of almost all the facilities/services needed at occasions, big or small.Chairs, tents, cutlery, tables, decorations, ice blocks,ushers, probably catering aspect(food) etc.It is indeed a very good business, i must say. |
Re: Rental Business - How Profitable? by abdurrazaq(m): 1:46pm On Sep 07, 2008 |
Though many people are coming into the business almost everyday but, it's still one of the sure business in Nigeria now. Try and get a large space in LAGOS or ABEOKUTA (OGUN STATE) party is now a daily thing in those area nowadays. You need a lot of money to take it to the level IykeD is talking about because you'll need lorries, trucks, staffers among others but, it's worth all the investment. I have started mine last December with 20 dozens of Armless Plastic chairs, 8 dozens of Armed chairs, no tables, canopies and other things yet. Those are what my annual income could afford me. I hope to invest more into it this December to keep me financially balance when I eventually secure admission into the University this year. ![]() 1 Like |
Re: Rental Business - How Profitable? by kenflipper(m): 2:44pm On Sep 08, 2008 |
I like the business as well, tho!, i'm not in Nigeria i would love to set it up when i come home this december and put trustful people in charge. What does it cost to have a sizeable number of durable plastic chair dozens purchased e.g 10 dozens? what are the rental cost in lagos, i intend shipping in a heavy duty easy to set colorful canopy wit detachable tapolinated windows from the USA able to house about 200-300 guest. |
Re: Rental Business - How Profitable? by EmmaAjayi(m): 4:32pm On Sep 08, 2008 |
Nairalanders, This is throwing open the topic. Let's have your ideas for more learnings. |
Re: Rental Business - How Profitable? by adetunrayo(f): 5:04pm On Sep 08, 2008 |
@abdurrazaq Please,how much do you used in starting you own? Thanks. |
Re: Rental Business - How Profitable? by Kitay(f): 5:58pm On Sep 08, 2008 |
yes it is very profitable, just package urself very well. the difference btw mama put and Tantalizer is packaging. just believe in urself and start up it is risky not to take it. Wishing u all the best. |
Re: Rental Business - How Profitable? by Ndipe(m): 9:35pm On Sep 08, 2008 |
I'd have to look into this too. |
Re: Rental Business - How Profitable? by femzy(m): 11:39pm On Sep 08, 2008 |
Yeah;i can testify that this biz is very lucrative as i have a friend of mine who's into this and he's always booked everynow and then, |
Re: Rental Business - How Profitable? by misssexyu(f): 9:33am On Sep 09, 2008 |
yeah that is my mums bussiness,it is profitable sure bt more profitable during ember month(frm sep ,oct,nov.dec)more wk seems 2 com during this period nd this is alwayz time 4 loss 2 if u ar not kiaful because al your goods ll gt missing,u need 2 put an eye on your wk nd your workers else dey ll misplace most of your goods.again its usually stressful,somtyms your customers myt stress u nd your workers too,e.gpaying 4 som items nd after u do d delivery dey ll ask u 4 more tins again nd u myt want 2 attend 2 other customers too at that point in time(ll b so confused),your car myt break down at any time mayb on d delivery of som goods, bt 1 tin u shld note is this;never disappoint your customers,if your car breaks down u ll need 2 gt a cab nd do d job no matter wht it ll cost u in other 2 satisfy your customers.nd as 4 capital u can start it up with800 thousand naira.note canopies ar now very xpensive we ave galvernize,presidential nd so on, dey ar nw around 35thousand naira per 1 because my mum got more goods recently .tables ar bout 2000,2700 depending on d size nd quality,chairs ar around 1300 ,1500 per 1,u 'll also need cooling vans,cutleries,coolers ,pots,nd a strong vehicle because of d nature of d bussiness.i wish u good luck,just tk it easy bt u need 2 b very kiaful,its not a kialess bussiness.if u need more information on this gt bak 2 mi.talkto_ucy@yahoo.com. 2 Likes |
Re: Rental Business - How Profitable? by naijacutee(f): 9:53am On Sep 09, 2008 |
I guess this would be a good business if one can get a steady flow of customers i.e, as soon as the items are returned, there is another customer waiting to rent them. Also, I can see an opportunity in renting out other kinds of equipment to small businesses such as - tools, carpet cleaners, generators, waste disposal bins for big events etc. Or generally anything that most people don't rent out, but which you can provide. |
Re: Rental Business - How Profitable? by misssexyu(f): 9:58am On Sep 09, 2008 |
dose things u mentioned has notin to do with rental bussiness. |
Re: Rental Business - How Profitable? by Livvvvy(f): 10:59am On Sep 09, 2008 |
If this business is still what i thought i really would love to partner (can provide the capital) with anyone i can trust. I will advice that you should be careful of who you think you trust, even if you have a sincere mind towards whoever. When it comes to business of that nature, u may have to put an eye into it yourself most especially since it is of your own interest and pleasure. So if u will not going to be around to oversee your business, dont even think about starting it so that you do not regret at the end. Just a simple advice, out of experience, |
Re: Rental Business - How Profitable? by naijacutee(f): 11:20am On Sep 09, 2008 |
misssexy u: Really? |
Re: Rental Business - How Profitable? by misssexyu(f): 11:21am On Sep 09, 2008 |
yeah |
Re: Rental Business - How Profitable? by Nobody: 5:30pm On Sep 09, 2008 |
' |
Re: Rental Business - How Profitable? by promise72(m): 5:45pm On Sep 09, 2008 |
@ missysexy u, i beg to disagree wt u. You dont seen to know what rental biz all entails. All thos items are part of it. Rental biz dont include generators? Hmmmm Shine your eyes ![]() |
Re: Rental Business - How Profitable? by ogeeh(f): 7:22pm On Sep 09, 2008 |
HI All, Please can any one disclose goo/reliable event managers in abuja and their addresses.i need to make enquiries. Thanks |
Re: Rental Business - How Profitable? by misssexyu(f): 10:06am On Sep 10, 2008 |
@promise 72,hey rental bussiness has notin 2 do wit generators,ah!isn't wht we ar into?please stop blarbing abeg,aw does chairs,tables,canopies,cutleries etc relate to it?tk note d vehichle i mentioned is for conveyance(as in 4 conveying d goods frm 1 place to the other)mayb is because u saw that, nd felt generator 'll also b included. |
Re: Rental Business - How Profitable? by naijacutee(f): 10:13am On Sep 10, 2008 |
Event Managers in Abuja : http://www.abujagalleria.com/Events_Entertainment/Events_Wedding_Planners_Managers_Coordinators.html |
Re: Rental Business - How Profitable? by promise72(m): 10:22am On Sep 10, 2008 |
@ misssexy, obviously you lack total idea of rentl biz. Where will the power come rom wen nepa strike? or party is in a remote village no light? if you say generator is not included. i agree |
Re: Rental Business - How Profitable? by misssexyu(f): 10:27am On Sep 10, 2008 |
God!were did u crawl out from?its not in dere position(rentals) 2 provide generator,it is not combined in rental bussiness,dere ar people in charge of dat too. |
Re: Rental Business - How Profitable? by promise72(m): 10:32am On Sep 10, 2008 |
ok. you've made ur point. i agree. chikena. u happy now? ![]() |
Re: Rental Business - How Profitable? by misssexyu(f): 10:34am On Sep 10, 2008 |
![]() |
Re: Rental Business - How Profitable? by slyk2(m): 12:38pm On Sep 10, 2008 |
its a good one. give it all you have and you will forever smile. |
Re: Rental Business - How Profitable? by vyking(m): 3:58pm On Sep 10, 2008 |
@miss sexyu, apparently u're someone who's very myopic or should i say, narrow-minded. Just becoz your mom is into rental business and she dint incorporate those things Promise72 mentioned does not mean they can't be included. your mum's doing it on small scale with a conventional idea that a larger percentage of those in the business embrace just because they can't be more creative or they are financially restrained. Dah! The word is "party-needs" or "rental business". There are no limitations as to what you can provide for a party, so the generators, waste-disposal bins, mobile toilets etc can come in too; especially for big ocassions. This is quite financially demanding though but for you to limit party rentals to just chairs and canopies is so myopic. Yes, someone can start with the chairs and canopies like everyone does but that is not the end of it. Does the words expansion, innovation, versatility mean anything to u? Rental business is a very lucrative business without limitations. First though, one's mindset must be prepared as it is with any other business, then there must be a passion for it and lastly, the start-up capital must be on ground (this capital can then be further improved upon for expansion). I'll be willing to assist the poster in preparing a kind of feasiblity report and making enquiries if interested. You can contact me on daprecocious@yahoo.com or gbobaniyishola@yahoo.com. Thanks 1 Like |
Re: Rental Business - How Profitable? by misssexyu(f): 4:03pm On Sep 10, 2008 |
@vyking, mess! nd please air your scraggy views on this alone never refer to me ok?i don't kno wht u guys think this rental bussiness is al bout?nd as 4 u saying my mum is doing it on a small scale,dnt ave much 2 say cos rental is neva a small scale bussiness,our vehicle alone is about 1.2million (and i believe any1 who wants 2 go in2 d bussiness for a start ll invest not less than 800 thousand at least).do u think raising capital 4 a bussiness is easy ?so i dnt kno d kinda small scale u ar talkin bout neway i dnt ave tym 2 go on a controversy wit u. |
Re: Rental Business - How Profitable? by misssexyu(f): 4:20pm On Sep 10, 2008 |
can c u ar new 2 dis forum,u said d word is party needs right?i guess u will also need ny1 who is into it 2 ave stewards as wel 4 hiring since pots nd cutleries ar involved or probably sell food items cos dey ar also needed in d occassion or parties,blarber mouth dose things ar not related 2 it in any way,theirs is different too. |
Re: Rental Business - How Profitable? by promise72(m): 6:06am On Sep 11, 2008 |
@ Vyking, i dont think u need to explain anything else. her mind is too close minded. |
Re: Rental Business - How Profitable? by misssexyu(f): 8:01am On Sep 11, 2008 |
hey hey hey,its ok u guyz shld refer 2 d topic. ok?Rental Bussiness How Profitable?dont refer 2 mi again,dis is a forum where any1 can air his or her views nd also entitled 2 his or her own opinion so u can go ahead nd post nytin.am outta ere. |
Re: Rental Business - How Profitable? by naijacutee(f): 9:32am On Sep 11, 2008 |
lol. @ Original poster. You can also make yourself more appealing to your prospective customers by offering a one-stop service for all their party needs. You can affiliate yourself with a local dj, or suya seller and let your customers know that you can also provide these services instead of them running all over the place to find them. This way, you will become a convenient alternative to service providers who do not offer as many services as you do and hence even if you are new, customers will love you for going the extra mile for them. Other services you could bring to the table could include (as vyking mentioned) mobile toilets, and floor lighting. |
Re: Rental Business - How Profitable? by abdurrazaq(m): 1:14pm On Sep 16, 2008 |
@adetunrayo, Sorry I'm not active on this part of Nairaland hence, the reason I've not been able to answer your questions. Hope it's not too late anyway ![]() The pricelist below was at December 2007. Armless Plastic Chair (Rida National Plastic) - NGN8,400.00 per dozen Armed Plastic Chair - NGN12,600.00 per dozen Tables - NGN3,000.00 each Though, there may be increase inprice now but, the investment worth it. 2 Likes |
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