Comcentury Leasing takes care of the rental and leasing of various types, cherry pickers, excavators, concrete mixers, bulldozers, concrete pumps, excavators, compressors, cranes, payloads, pile systems, forklifts, pipelayers and generators. A business plan usually starts with a summary and a business summary. Marketing is very important if you want to succeed in business, it will have no advantage if people do not know that the equipment you buy is for rent or rent. When dealing with clients who rent your equipment/property, you must constantly establish clear terms and conditions for the use of your valuable assets. For other devices, you need to identify the most requested equipment in its category and buy it first before buying others. Renting equipment is perceived as a very expensive business, but this is not entirely true. It depends on the type of equipment you want to invest in. The most important thing to watch out for when investing in equipment rental is the market. Do you have a finished market? For example, you decide to invest in renting generators in a big city where there are practically no power outages, each house comes with a backup generator and even a solar system. Of course, the company would suffer. The idea is very simple, let your business be the solution to a problem.
That`s why Uber Hire, Taxi Hire is a very lucrative business in any big city. Our case study on equipment rental today is Nigeria. As you know, Nigeria is commercially divided into so many regions. They are more likely to be used to financially help your new leasing company. The marketing equipment business does not require any special advertising effort other than the routine advertising steps. It also shows the level of competition in the market as well as your current and perceived competitors and how they can be approached. It gives you an idea of possible strategies for sustainability in the company. So start with that first. The business opportunities for equipment rental are plentiful, making it very lucrative for anyone to venture out. Some of them are: Finally, when starting, building and diversifying your business; Some elements require significant funding.
Elements such as the acquisition of business premises, equipment and machinery, which are important for your business to operate at the desired capacity, require capital financing. Access to significant financing for these items at reduced interest rates on acceptable terms is critical to the success of your business. You can try one of the 10 leasing companies listed above in Nigeria for financing your business. If so, I will ask you to continue reading, because in this article I will show you how to start a profitable equipment rental business in Nigeria, even if you do not have your own equipment. This article is a revelation from two points of view, either as an investor or as a client. Whatever information you are looking for about the equipment rental company, we would destroy it correctly here. I encourage you to read the whole article because there is so much more to learn. Equipment leasing should therefore provide tenants with comprehensive financing and flexible payment plans. For the lessor, the rental of equipment is an alternative to borrowing because it brings a higher return than the loan of money, the lessor also retains the ownership rights over the equipment, so that if the tenant does not meet one of the agreed conditions, the lessor has the right to repossess the equipment. Writing a professional equipment rental business plan ready for banks and investors can be challenging. If you need a professional and affordable business plan service, StartupTipsDaily`s standard MBA business plan writing service is perfect for your business.
However, it is competitive because it is a lucrative business. Therefore, a study of these existing companies is highly recommended. You should also estimate your potential return on investment (ROI) and make cost estimates to cover losses/omissions. That`s why it`s very important that you take very good care of your equipment inventory, so you should definitely be able to develop a good stock of equipment before you can even start renting things. At the beginning of setting up your business, buying equipment for competition in your market may not be an option, mainly due to financing. And that`s where equipment rental comes in. As luck would have it, we have developed a list of business applications that we approve. Of course, some equipment can break down. Hence the need for backup/replacement.
Since you serve an unspecified audience size, you need to have a variety of these devices in stock and also in large numbers. For this reason, most businesses and individuals now prefer to rent or rent such equipment regularly rather than spend hard-earned money to buy a new one. For construction, an excavator is pretty much the most important piece of equipment you need to buy. This is the most rented and you would pay between 120,000 and 180,000 naira per day for it. Over time, you can buy a low bed for transporting equipment and also for renting, a swampy buggy, a bulldozer, a crane and much more. For this reason, you need to ensure that your equipment/property is in good working order at all times. How to Start the Equipment Rental Business: Equipment rental is one of the easiest. Another advantage of equipment rental is that it leads against obsolescence. In a rapidly changing technology market, the use of short-term equipment rental allows companies to replace or replace old and obsolete equipment with new and improved equipment. To avoid unnecessary problems with your client, provide an agreement with the rental/rental conditions. Computers and automobiles are common examples of equipment involved in operating leases. A leasing business is a business that may require roughly large amounts of start-up capital.
Sometimes they may decide to purchase the equipment at its current market value or extend the useful life. These are the main ways to make money in this sector. As you can see, the equipment rental business is very profitable. As part of its model to ensure the country`s economy`s easy penetration into the digital space, the company designed the Omatek eXpress initiative in 2004 to provide flexibility in the acquisition of computers and businesses through a payment plan that extends between 12 and 24 months under a lease agreement. The equipment rental business in Nigeria can be a lucrative and profitable business, partly because of its huge market demands and largely because of your own ability to build a vast supply chain network. If you are looking for a business to venture into, the equipment rental company in Nigeria is another option to explore. The construction equipment rental business requires significant investments, but can earn millions of naira every day. In this chapter, you will learn the basics of equipment rental. The Equipment Leasing Association Of Nigeria is an industrial trade group that promotes the development and growth of the equipment rental industry in Nigeria. Founded in June 1983 by six commercial banks in Nigeria to promote best practices in the industry and protect the interests of member companies.  About what exactly you should do to make your new rental business a mind-blowing success.
SCOA Motors, according to the company`s website, has one of its key product offerings SCOA Motor Leasing Services, which provides your company: fleet management; exchange; Leasing (with redemption and without redemption after 24/36 months of operation); the provision of drivers; and maintenance and repairs. The company therefore offers you a one-stop shop for the rental of vehicles for your professional and personal needs. Cosmetic Patches – You don`t want your equipment to work like new. Remember, no equipment, no rental. Therefore, the need to take care of your equipment cannot be overstated. In 1983, six commercial banks offering such services decided to form an association to protect their interests in equipment rental, raise awareness in the industry and stimulate growth within the industry. Membership was later extended to major leasing companies Leventis Technical, John Holt and Bank of Industry. In 1988, it was officially incorporated into the federal government.  In terms of quality, you can count on their equipment as they have been ISO 9001 certified, with the boats built with the technical support of Yamaha Motor Company, Japan, and they will also provide you with technical assistance for the installation and maintenance of the equipment you rent from them.