Are you seeking ways to make money while raising your children from home? Have you considered renting baby equipment to families that are traveling?
Similarly, starting a baby equipment rental company takes a lot of time, work, and, most importantly, enthusiasm. Renting out baby equipment can be a nice side hustle, but depending on how you set yourself up for success, it can also evolve into a profitable business.
It’s not tough to get started from scratch if you don’t have any baby equipment but want to start a home-based business like this. To get started, here’s what you’ll need to know.
Gather Your Baby Equipment
The first step is to gather baby goods that you can rent out. Begin with goods that are in decent shape that you already own. Also, resale shops and thrift stores are fantastic places to look for good, affordable clothing.
You might even want to invest in a few new items that you believe would rent well, and keep an eye out for seasonal bargains and merchant discounts.
Prepare The Equipment For Renting
Next, prepare your inventory for a rental by thoroughly cleaning everything and ensuring that it performs properly. You should also double-check that the things you wish to hire out haven’t been recalled and are safe for others to use. Check CPSC.org to discover if there are any child or infant product recalls that may affect your business.
Consider Joining BabyQuip
You don’t have to go it alone when it comes to starting and running your own baby equipment business. BabyQuip is a website that can assist you in starting an online baby equipment rental business. They have a nationwide customer base built-in and take care of all the legal details so you can be up and running quickly.
You can apply to become a supplier, and BabyQuip will help you with everything from website templates to product photographs and descriptions. Renting things through BabyQuip also lends credibility to your company because it is a well-known and well-established platform. In fact, 60% of parents say renting from BabyQuip during their vacation was a positive experience that they would repeat.
Obtain Licensing & Determine A Rental Agreement
If you’re not planning to start and manage your business with any platform, you’ll need to get separate business licensing and figure out how you’ll legally establish your company. You can get an LLC, as well as any other permits and insurance, from your state if you want to rent out equipment.
You should also create a rental agreement that clients can sign to shield your company from any obligations or legal ramifications.
Create A Website & Start Listing Items
If you haven’t done so already, you can create a website for your company and add product listings and descriptions. Again, any well-known platform can assist you in getting your website up and operating quickly.
You can also use Wix.com, which has user-friendly drag-and-drop capabilities, or Bluehost, which has reasonable hosting plans, to create your own self-hosted website.
Deliver Items & Get Paid
Decide whether you want to deliver the things or have folks pick them up once you’ve started scheduling rentals. It may make sense to drop off rentals locally if you have a vehicle with some room and conduct your business out of your house. You won’t have to give out your personal address to as many individuals this way.
You can also deduct mileage and some costs related to operating and maintaining your vehicle as a business owner. Set up an online payment account to make it simple for others to pay you.
Clean & Maintain Your Equipment
Finally, you’ll need to carefully clean and maintain your equipment after each rental. Test your products on a regular basis to ensure that they are secure and safe for others to use. For example, if you are renting out newborn pram, make sure the wheels are always clean and all the features are working correctly.
Keep a lookout for new baby gear models and updates, and reinvest in your company to expand your inventory as needed.
You may work from home and set your own hours if you start a baby equipment rental business. You won’t need to put in 40+ hours per week to profit once you’ve set everything up and built a customer base.
This business allows you to earn more passive income over time since once you hand off equipment to a renter, you may spend the rest of the day with family or friends while still earning money. Many online sites can help you get started quickly and without any fuss.