With the number of entrepreneurs starting a business now, it is a great time to learn how to start an office furniture rental business. Many companies would prefer to rent furniture (especially in the beginning stages of their business) than purchase it. This can prove to be a very lucrative industry for anyone willing to do what it takes.
In addition to office furniture rental, there is also an income opportunity in selling used office furniture once you are not able to rent it out anymore. Sometimes a piece has minor damage, so you don’t want to send it to a client’s office, but someone will be more than willing to purchase it for themselves.
Some common items you will rent when you start an office furniture rental business include:
- Desks of several sizes
- Chairs – Executive and secretary
- File cabinets of various sizes
- Bookcases of various sizes
- Waiting room chairs and tables
- Conference tables
- Sofas and loveseats
Some people who enter the very profitable business of office furniture rental also rent desktop and laptop computers, printers, and other accessories and electronics. Additionally, you can add another stream of income to your business by selling office products, like paper, pens, ink cartridges, and the like.
What You’ll Need to Succeed
Some experience with inventory management will serve you well in the office furniture rental business. Your inventory management skills define your business, because running out of a popular item or having too many of any one item can cost you money. One of the biggest challenges when learning how to start an office furniture rental business is determining the correct level of furniture to carry in the beginning.
For this reason, it is best to start small, and grow as your customer base grows and you get requests for certain items. As long as you have a supplier that can get you furniture in short order, you might not ever need to tell a client you don’t have what they need.
To save money when starting an office furniture rental business, also be on the lookout for good, used items. In many cases you can find like-new office furniture for a fraction of the cost of brand new stock.
When you learn how to start an office furniture rental business, you will be providing a much needed service to small business owners just starting out, and you’ll make a great living doing it. What could be better than that?