Industry Analysis & Industry Trends
The Tool and Equipment Rental industry was significantly challenged by the economic recession's impact on consumer spending and construction activity. However, due to the current economic recovery, the industry is benefiting from a trend toward renting instead of purchasing tools and equipment, which gained prominence during the downturn. This trend, along with improved disposable income and a resurgence of construction activity across a range of markets, will drive future growth... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entering the Tool and Equipment Rental industry are low to moderate. Though companies and individuals can start with modest inventory levels, there is a relatively steep capital investment needed to maintain an inventory of tools, equipment and machinery demanded by local contractors and DIY consumers. During the recession, smaller firms and new entrants were able to acquire inventory from auctions by the larger firms that had excessive fleets. This made the startup capital needed to enter the industry less during the period.
High costs to buy or lease building facilities vary across regions. These expenses can be considerable in well-established, highly populated cities. However, in smaller cities and suburban regions, costs to set up a rental center are much lower... purchase to read more