Top 25+ Online Rental Business Ideas to Start in 2024

Last Updated: 18th March, 2024

Rental businesses are on a rise with a projected market share of $335 billion by 2025. From items like construction equipment and cars to fashion accessories like jewelry and outfits, consumers prefer renting over buying almost anything that they can find at a budget price.

However, the entrance of numerous niches in the rental economy creates a dilemma for entrepreneurs looking forward to start an online rental business. They require to be confident about the consumer base and use cases of the products to create valuable service offerings that they can promote and rent out on their platforms. This is where YoRent helps you create your online rental website for any vertical, schedule a one-on-one free personalized demo session to understand the solution properly.

In this blog, we will discuss more than 25 online rental business ideas, particularly their market segments, consumer demand and sales triggers to help you understand their business potential.

1. Online Heavy Equipment Rental Business

Heavy equipment rental is one of the most profitable rental business ideas. Equipment like transit mixers, cranes, wheel loaders, generators and hydraulic rigs are not so cost-effective and many construction companies and miners can’t afford them. Thus, they either rent heavy equipment on project-basis or lease them for months and years. According to statistics, the equipment rental industry has current revenue of approx $37.5 billion, which is expected to add another $5 billion in the year 2024.

Popular online heavy construction equipment rental businesses:

• United Rentals
• Herc
• Sunbelt

YoRent powered heavy equipment rental businesses:

• GearFlow
• Machinfo
• Rent This
• FAINDaMAQ
• Alemaq
• Upabuild

2. Dress/Costume/Clothing Rental Business

For a majority of consumers, it makes sense to rent luxury dresses, bridal wear and formal attires for one-time occasions like weddings, corporate events and get-togethers. In B2B operations, uniforms are also rented with a security deposit. Similarly, many people prefer to rent cosplay and Halloween costumes instead of buying them. This indicates a viable business opportunity in the online dress rental industry. For now, the industry is also growing at an impressive CAGR rate of 8.7% for the forecast period 2020-2025 and will nearly double its market share in the year 2025.

Popular businesses in dress and clothing rental industry:

• Rent the Runway (how to start a dress rental business)
• StyleLend
• Halloweencostumes.com

YoRent powered dress rental businesses:

• Rent my Wardrobe
• Find Rent Wear
• PoshRobe 
• We Rent Fashion
• RNS Rental

3. Car Rental Business Idea

Car rental is the biggest segment in the automobile rental industry with a ubiquitous demand. From general commuting to leisure and media production purposes, users are renting cars for numerous use cases. The key target audience of car rental businesses are students, young working professionals, tourists and corporate companies. To capitalize on the opportunity, you can launch a car rental business and also rent cars on a monthly subscription model.

Popular car rental businesses:

• Turo
• Hertz
• Discover Cars (See how to start car rental business like Discover Cars)
• Getaround

YoRent powered car rental businesses: 

• RNS Rental
• Motorpool
• Rental Kosova

4. Online Gym Equipment Rental Business

During the pandemic, we witnessed the rise of numerous gym equipment rental businesses. These businesses not only helped gym owners survive the COVID-19 led recession, but also provided quick options to gym enthusiasts adhering to the lockdown norms. Even in the post-pandemic scenario, the demand for rental gym equipment hasn’t decreased. Newly opened gyms and fitness centers prefer to rent equipment instead of buying and same is the case with peers who prefer working out at home.

Popular gym equipment rental businesses

• GymLend
• FitDel
• EasyFitness

Yo!Rent powered gym & fitness equipment rental business: 

• Big Fitness

5. Party & Event Rental Business

With the minimalistic approach, owning party equipment, including home theaters and soundbars has become a thing for music enthusiasts only. Thus, to target regular households, starting a party and event rental business seems to be a profitable business venture. Furthermore, you can also lend accessories such as lighting, musical instruments, party costumes, etc. for upselling and target B2B audiences as well. During festive seasons such as Halloween, Christmas and New Year eve, your party rental business can see great profits.

Popular party rental businesses:

• Photo booth rental
• Sound equipment rental
• StageWing (Success Story)

YoRent powered party equipment rental businesses:

• Stagewingapp
• Kouture Studios

6. e-Bike Rental Business Idea

For a sustainable environment, many people are shifting to ebikes for micro mobility. Moreover, the rental model in the ebike industry has already been proved viable. You can create your own ebike rental platform and collaborate with e-bike dealers to create an asset-light rental business.

Further, you can also set up e-bike charging stations across your targeted cities to provide quick access to customers.

Popular ebike rental businesses:

• Vogo
• Bounce
• Zypp
• eWheelers

Yo!Rent powered eBike rental business:

• eWheelers (Electric bike rental)

7. RV Rental Business Idea

Recreational vehicles are nostalgic for baby boomers and exciting for millennials and Gen Z. In an RV, families can enjoy adventurous camping trips and travel without stops for night stays. Along with travelling, RVs are also rented as guest accommodations in events and parties. Movie directors, actors and TV/theatre artists traveling from one place to another rent RVs because of their luxury and convenience. Thus, to capitalize on the increasing demand for rental RVs, you can provide an online rental platform to RV owners and earn via commission. This eliminates the need to own any RVs yourself.

Leading RV rental businesses:

• Outdoorsy
• RVShare
• CruiseAmerica

YoRent powered RV rental business:

• Camperagogo

8. Scaffolding Rental Business

Growing economies can lead to increased demand for new construction projects, such as residential, commercial, and infrastructure development. Rental scaffoldings are used in all such projects as aerial platforms. By launching a scaffolding rental business, you can target construction companies and contractors to generate repetitive income. As maintenance of scaffoldings and other aerial platforms is more cost-effective than heavy equipment, it can be a good and profitable rental business alternative.

9. Bounce House Rental Business

The bounce house market in itself is a highly profitable niche of the party rental industry. Managing inflatable bounce houses is simpler than managing a full-fledged party supplies inventory and it also comes with easy maintenance. Furthermore, due to the increasing demand for bounce houses at children’s birthday parties, carnivals, shopping malls, school programs, and various other spaces, you can easily scale and expand your bounce house rental business in various regions. Here is the complete guide about how to create a bounce house rental website.

Popular Bounce House Rental Businesses

• Jumptastic
• Magic Jump Rentals

10. Adventure & Camping Gear Rental Business

According to Statista 41.67 million is the number of active campers in the US. The majority of them only go camping once or twice a year, which makes it more rational for them to rent camping gear. Apart from residents, consumers classified as travelers and tourists also prefer to rent camping gear as they cannot always carry such equipment on their back.

Popular adventure gear rental businesses:

• Outdoor Geeks
• LowerGear Outdoors

Yo!Rent powered adventure gear rental businesses: 

• Aloklub (View case study)

11. Furniture Rental Business Idea

With the rise of online marketplaces and the increasing popularity of renting rather than buying, furniture rental businesses can provide customers with convenient access to furniture for short or long-term rentals. So the furniture rental business can rotate its inventory and maintain a larger selection of furniture than someone who owns a furniture store.

Additionally, furniture rental businesses can provide customers with furniture that is not available at their local furniture store. This can be especially useful for those who need to move furniture for a short period of time or who are looking for a specific vintage piece. You can build your own online furniture rental marketplace where you can rent different types of furniture to customers and generate a stable source of income.

Popular furniture rental businesses:

• AFR
• CORT ( Click here to know how to start a furniture rental business like CORT)
• Feather

12. Boat Rental Business Idea

The rise in global tourism has raised the demand for water-based activities, which has created new business opportunities for boat rentals. A boat rental marketplace that lends various categories of boats online can easily grab and easily bridge the gap between boat owners and customers. Boat rental charges can reach up to $10,000 per week for monohull boats and $20,000 per week for super yachts. Along with boats, you can also provide add-ons like lifeboats, life jackets, bar sets and more for upselling purposes.

Popular boat rental businesses:

• Click & Boat
• Boatsetter
• ZIZOO

13. Audio Equipment & Music Instrumental Rental Business

Audio equipment is rented at parties, corporate events, sports events, showrooms and auditoriums. Music enthusiasts and bands need it for hosting music concerts. Learners rent music and audio equipment for practicing and freelance instructors rent them for teaching purposes. Considering the growing market and consumers’ love for music, starting an online AV equipment rental business holds undeniable business potential in 2024.

Popular audio and music equipment rental businesses:

• Reynold’s
• Kwipped
• Adorama

Yo!Rent powered audio and music equipment rental businesses: 

• Rentalya
• KoutureStudios
• Aplusevent rentals

14. Online Tool Rental Business

The handheld tool rental industry is flourishing for many reasons, including the cost-effectiveness of rentals, house repairs, and the emergence of the DIY industry. Due to the compact size of the tools, business owners only require a small warehouse or can even start operations from a garage. They also don’t need to hire extra staff to manage the tools or showcase them to customers. This keeps the operating costs low and profit rates high, making tool rental one of the best rental business ideas of 2024.

Popular Tool Rental Businesses

• HomeDepot
• Lowe’s Rental
• EquipmentShare
• United Rentals

For more reference on how to build your own tool rental store, check out this blog.

15. Dumpster Rental Business Idea

Several offices, hotels, events, corporations and remote areas require private dumpster facilities on long-term contracts. The dumpster rental business idea is profitable from the business point of view as it provides convenience to the event and building managers. Modern dumpster rental companies not only deliver dumpsters to their clients but also provide hauling services where pickup trucks come for waste collection on a routine basis and dump the waste in junkyards.

Popular online dumpster rental businesses:

• Dumpstermarket
• Dumpsters.com

Yo!Rent powered dumpster rental business: 

• GoDump

16. HVAC Rental Business Idea

The market share for Heating, Venting and Air Conditioning (HVAC) rentals is expected to increase by 1.34 billion US dollars in the next four years. HVAC systems are required in offices, residential spaces, malls, restaurants, hotels, airports, hospitals, warehouses, storage spaces, etc. People also prefer renting HVAC products due to various reasons such as affordability, favorable lease conditions and low requirement for maintenance from the rentee. People living or working on rented premises find the rental options more convenient and appropriate.

Popular online HVAC rental businesses:

• Mobile Air and Power Rentals
• HVAC Industry Marketplace

17. Camera Rental Business Idea

Online camera rental businesses will attract startups and small budget photography businesses. Wildlife photographers, movie directors and freelancers also benefit from a camera rental website where they can rent different types of cameras and lenses at only a small percentage of the actual price. Another business idea in the camera rental industry is launching a peer-to-peer camera rental marketplace. 

Top players in camera rental business:

• LensRentals
• BurrowLenses
• Lumoid

Also checkout a detailed guide on how to start an online camera rental business.

18. Start Online Jet Ski Rental Business

With the increasing love for water sports, the jet ski rental industry is thriving immensely. Moreover, the industry also gets a boost from the tourist population which helps in business generations. If you live in coastal regions, then starting an online jet ski rental business can be a very lucrative business idea. Customers can directly book a jet ski on your online platform and pick it up from your waterfront store. Otherwise, jet ski rental operations can also be conducted from a remote warehouse but may involve heavy transporting costs.

Popular jet ski rental businesses:

• Get My Boat
• Sea The City
• Express Watersports

19. Start a Golf Cart Rental Business

• 

Golf as an industry itself is worth billions. It can be easily classified as a luxury sport that attracts numerous types of participants. However, for any golf outing, golf cart rentals are required. These can be handled by both golf resorts and third-party businesses. Along with catering to golf resorts and golf courses, you can target tourist areas where golf carts are used for micro-mobility. The profitability in a golf cart rental business can also be increased by offering a wide range of carts, i.e, electric carts or 4 to 8 seater carts.

Leading Golf Cart Rental Businesses:

• National Carts
• Ultimate Golf Carts
• Carolina Custom Golf Carts
• Big O’s Golf Carts

20. Online Truck Rental Business

With the growth in the manufacturing sector, the demand for rental trucks has also increased. However, with rental trucks, customers require skilled drivers that you can provide by launching a truck rental marketplace. On your marketplace, you can let different truck owners list their trucks and offer trucking services. 

On the other hand, if you have a good fleet of trucks or the required capital to buy them, you can start a single-vendor truck rental business as well. However, for this, you will also need to find a suitable parking space where you will need to keep your fleet.

Popular name in truck rental businesses:

• Penske
• U-Haul
• Home Depot

21. Fishing Equipment Rental Business Idea

The fishing industry is flourishing at a market size of $13.3 billion today and is only expected to grow in the near future. The two major reasons behind the growth of the sport are its rising popularity as a recreational activity and increase in the number of child participants every year. This opens a lucrative market for fishing equipment rentals that can be easily done from a waterfront shed or a remote warehouse. With appropriate fishing rental software, you can manage equipment deliveries in case of remote operations.

Popular Fishing Equipment Rental Businesses:

• RentThisRod
• Sunside Rentals
• Lower Gear

22. Electronic Equipment Rental Business

The electronic equipment rental industry is thriving because of the participation of both B2C and B2B consumer segments. While household electronics and applications also have a separate market, the most flourishing market is the B2B electronics sector, which covers IT infrastructure like computers, laptops, printers, projectors, servers, hard disks, and more. As per sources, the overall market share of the US electronics equipment rental market was 9.4 billion in the year 2023.

Popular Electronics Equipment Rental Store

• Rent-A-Center
• Aaron’s

Also, check out this detailed guide on how to build an electronic equipment rental marketplace similar to Rent-A-Center.

23. Scuba Diving Rental Equipment

With the growth of the diving industry and the proliferation of water sports, the scuba diving industry also has a positive outlook. Most influenced by tourism, the scuba diving industry particularly thrives in exotic places that are near water bodies, such as islands and beaches. Moreover, as the scuba diving equipment rental rates are also high with less competition, there exists a lucrative opportunity to launch a scuba diving rental business.

Popular Scuba Diving Rental Businesses

• Scubafusion
• Diventures
• Scubatoys

24. Catering Equipment Rental

The project market size of the global catering industry in 2024 is a whopping $303 billion. With a massive growth rate of 6.4%, the industry is also poised to reach $388 billion by the end of 2028. Considering the favorable market statistics and long-term stability of the industry, launching an online catering equipment rental is a highly profitable business idea.  Furthermore, by entering the industry, you can also serve the target audience of related industries such as hospitality, tourism, and event supplies.

Popular Catering Equipment Rental Businesses

• CaterRent
• Peak Event Services
• Bright Event Rentals

25. Medical Equipment Rental Business

With an aging population and increasing need for medical equipment, there is a growing demand for medical equipment rentals. Rather than purchasing expensive equipment, renting new or refurbished equipment serves as a  cost-effective alternative for people who need it for short hospitalization periods with flexible requirements. You can easily start a multi-vendor medical equipment rental business that allows customers to rent medical equipment at relatively lower rates. Another benefit of starting a medical equipment rental business is that they are high in demand and higher ticket prices. 

Popular Medical Equipment Rental Businesses:

• Prudential leasing
• Med One Group
• Stryker Corporation

26. Portable Toilet Rental Business

Portable toilets are often required at outdoor events, at campsites or by NGOs. However, the number of players in this industry is very low. Existing customers have to rely on a few known businesses who can also run out of stock. This also highlights an opportunity for new players to enter and settle in. As finding local portable toilet rental dealers is also difficult, launching an online platform for the same can also assist with increasing business reach and discovery.

Leading portable toilet rental businesses:

• National Construction Rentals
• Andy Gump
• Honey Bucket

27. Start Plant Rental Business

The demand for floral decorations and plantscaping is proliferating ubiquitously. This leaves scope for launching nurseries, plant rental businesses and plantscaping services. The key audience for a plant rental business can include hotels, restaurants, resorts, stadiums, lakes, houses, corporate offices and other commercial spaces. Moreover, plant rental businesses can expect a surge in demand during festive seasons and events, such as Christmas, Easter, New Year, Valentines, weddings, convocations, product launches and award ceremonies.

Popular Plant Rental Businesses:

• Cinema Greens
• Ambius
• Creative Plant Rentals
• Simply Plants
• Frenchams Group

How to Start an Online Rental Business in 2024

Starting an online business will require immense research on the market, competition, consumer dynamics and most importantly business model, pricing model and revenue model. Once the research work is done, entrepreneurs can move towards selecting the business/website name and domain. Also, to launch an online rental business, they will require a website, which should have key rental functionalities like:

• Booking calendar
• Request for Quote (RFQ)
• Inventory management
• Returns management
• Product inspection
• Document verification
• Late return/cancellation charges
• Rental security management
• Analysis and reporting

Below are some approaches that you can use to build an online rental marketplace or website:

Custom Development

Get your business website custom-developed by a software development company. The sole benefit of this approach is that it is capable of meeting your every requirement. However, it is also costly and time-consuming. 

Readymade Rental Software

Readymade software is available as both SaaS and self-hosted software. It already compromises all important features required to launch an online rental store and just needs to be set up on a hosting server. Thus, saving time and investment. 
YoRent is a readymade rental software that assists entrepreneurs in launching their rental businesses.

To Summarize

Other than the consumer demand for rental products, it is the business owner’s understanding of the rental model, Challenges faced by rental businesses, profit margins and supply chain management that result in the success or failure of a business. Once an entrepreneur figures these out for his online rental business idea, he can materialize the business and earn by capitalizing on the wide consumer base of the business in 2024.