15 Party Rental Business Ideas To Start In [2024]
A party rental business is a service that includes the leasing or renting of entertainment and party supplies, particularly for special events. This process has gained popularity with the passage of time.
Party rentals are emerging in most developed regions along with the increasing popularity of hosting get-togethers. The economy has got a lot to do with this growth as it offers low start-up costs.
The party rental business is a growing industry that provides income year-round. You can find all kinds of products for rent, from bouncers to tables and chairs for party events.
Following is a list of the top 15 party rental business ideas you can start in 2022:
1. Start a wedding rental business
Do you love wedding planning and looking for a business idea to turn your passion into profits? Starting a wedding rental business can be a great idea.
Your role as a wedding rental business is to supply all equipment and accessories to make the occasion colorful and memorable for attendees and the wedding couple. If you are starting a wedding rental business, focus on building relationships with wedding planners and event companies. Remember often couples visit wedding venues before even contacting a rental company. Being in contact with wedding venue business owners could get you repeat business.
How much you can make: $5,000 — $500,000/month
How long does it take to build: 305 days (?)
Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.
2. Start a photo booth rental business
Starting a photo booth rental business can be quite lucrative. With the proliferation of weddings, birthdays, and holiday parties, you could gain a successful side business.
A photo booth rental business is a profitable rental business venture. Photo booths are highly-in-demand entertainment at weddings and parties.
Some of the biggest advantages of starting a Photo Booth Rental business are your ability to choose your schedule, work from home and be your own boss. This business is exciting, fun & profitable.
How much you can make: $400,000/month
How much does it cost to start: $6,000 (?)
How long does it take to build: 60 days (?)
In this case study, the founder of Photo Booth International shares how he started his photo booth rental business, grew it into a million-dollar company, and then founded his second business that manufactures and sells photo booths while providing marketing and business training materials to over 5,000 entrepreneurs.
3. Start a luxury car rental business
luxury car rental business offers a lucrative and highly marketable opportunity for anyone looking to start a transport-related company. A luxury car rental business will allow you to earn passive income in the form of monthly subscription fees and have the ability to work around your own schedule.
The good thing is though, you don't even have to own any luxury cars in order to start renting them out. If you have the spare capital and even just one extra luxury car lying around your property/garage, you could start earning yourself some serious monthly income through car rentals, without having to buy any of your own cars at all!
How long does it take to build: 180 days (?)
4. Start a party rental business
A party rental business helps people get the products or the services they need to make their party a fun-filled event.
Party rental businesses can include:
- Photo booth rental
- Renting wedding clothes
- Party boat rental
- Sound equipment rental
- Outdoor equipment rental
- Cake structure rental
To start a party rental business, begin with what you know much better. Then as you gain experience, you may diversify to renting other party accessories or partner with experts in different fields.
How much you can make: $3,500 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
Akshay Patel's event rental and decor business, Simply Decor, Tents, and Events, saw an average ticket price of $2,000, as their advertising budget decreased from $20k to $5k, leading to 40% of their clients coming through social media advertising, 30% from expos, and 30% online in google, yahoo, and other platforms.
5. Start a game rental business
Parties and events are a way for attendees to indulge in fun activities. One way to enjoy the event is by playing games at the event venue. If you are passionate about event organizing and entertaining event attendees, you can turn your passion into a profitable business by launching a game rental business for events.
Game rental businesses are highly affordable to start compared to other niches and can turn to a profit much faster. Your target market can include corporate team-building events, children's parties, wedding parties, and other social events.
How much you can make: $300 — $85,000/month
How long does it take to build: 91 days (?)
Traveling Tales DMing LLC is a professional game mastering company that offers high-quality table-top role-playing game experiences, which includes Dungeons and Dragons, for $10 per 3-hour game, generating a lot of buzz in Nebraska's TTRPG community by working with local game stores.
6. Start a swimming pool rental business
Starting a swimming pool rental business can be an exciting and rewarding experience. Pool owners are looking to rent their pools out during the off-season to recoup some of their costs.
Landlords or condo owners may want to earn an additional revenue stream from the swimming pool property they own. The swimming Pool Market size was valued at $3B in 2019 and is projected to reach $3.6B by 2027. The presence of developed infrastructure and the thriving wellness tourism industry will facilitate the swimming pool market growth.
7. Start an instrument rental service
Music reviewer engages in the analysis and interpretation of music work. To become a music reviewer, you need a certificate in a music-related field. Then you need to attend industry conferences and seminars to establish contacts with editors and agents.
How much you can make: $550,000/month
How much does it cost to start: $5,000 (?)
Flute Center of New York is the largest flute-centric company in the world, servicing musicians globally with an impressive retail level sales of over 7 million USD in 2019 by selling flutes and piccolos ranging from $500 to an astonishing $75,000.
8. Start a costume rental business
Costume rental businesses are one of the newest and fastest-growing industries. These businesses can be found in almost every city, town, and state across the United States. Although these costume rental businesses range in size, they all have one thing in common: they are a great businesses to own.
Costumes are not an everyday use but there are a lot of situations where people want to wear their favorite costumes for a given occasion. It's like people want to eat candy, salad, plates of seafood, and meat every once in a while. The same holds true for costumes and party rentals. A costume rental business also means no sewing and less stress.
9. Start a virtual reality headsets rental business
Virtual reality is here to stay, and it will continue growing in the future. The widespread interest in VR has created a business opportunity as consumers get curious to experience the fantastic technology. However, virtual reality headsets are pretty pricey now, and for many people, VR headset is more of a luxury than everyday device, hence prefer renting.
If you are interested in starting A VR-based business, you could start offering VR headset rental. Your target customers can be those who want to try the new technology but are still not sure they want to invest money in buying their own VR headsets.
10. Start a speed boat rental business
Boat hiring and boat rental services are tapping into the booming tourism sector. Water activities have become a significant tourist attraction, especially in coastal areas. Thus, boat hiring and rental are among the most attractive maritime business opportunities.
11. Start a travel trailers rental business
Travel and exploration have become a big part of everyday life in our modern society. Due to this, they need comfortable products on the road. One such product is travel trailer rental. People opt to rent a travel trailer instead of buying one themselves because:
- They don’t have enough space in their house.
- They don’t have the money to buy one.
- They want to try out different models before deciding which is best for them.
Thus, there is a ready market for travel trailers rental businesses.
12. Start a camping equipment rental business
Camping equipment is a great business to start and can make a good amount of money. For $10,000 you can start a rental company that grosses $100,000/year. However, starting a camping equipment rental business requires some careful consideration first.
The global camping equipment market is estimated at $16.4B in 2022 and is forecast to surpass $33.3B by 2032. Campers and tents are both popular items to rent but this depends on where you live. Check out the local demand for these types of products in your area before starting your business.
13. Start a yacht rentals business
Owning a yacht for a rental can be a profitable business venture. Chartering yachts presents a unique opportunity that can lead to profitable opportunities.
To start a yacht charter business, find the right market. Consider markets where the weather is good for water activities and a region frequented by tourists. Then, write a comprehensive yacht hire business plan that includes all expenses and revenue opportunities for your business.
You can buy or lease a yacht. Leasing can be a short-term plan, but buying your yacht is the ultimate long-term plan for your business.
How much you can make: $12,000,000/month
How long does it take to build: 1 days (?)
A luxury yacht rental business in Dubai generates $12M monthly by offering exclusive experiences with over 50 private yachts, charging between $2,000-$4,000 for 4-hour charters, and upselling additional amenities like supercars and bespoke services to VIP clients.
14. Start a recreational boat rental service
Boat hiring and boat rental services are tapping into the booming market of the experience economy. Today, most consumers prioritize experience over material items. Boat rental services are necessary, not just for tourists but also for family, couples, friends, and even solo. Investing in the right recreational boat rentals can have a significant return on investment.
Listed are the steps to start a recreational boat rental service business.
- Register your business name
- Permit and licenses to operate
- Obtain equipment for the operation
- Hiring staffs
- Organize your business and activity flow
- Promote your business
15. Start a jet ski rental business
Are you looking for a business you can start within the coastal locations? A jet ski rental business can be excellent if you target areas that attract water sports tourists. According to industry experts, the global market size for the water sports gear market will reach $55.2 billion in the next decade.
Therefore, starting the ski jet rental business can be a profitable business. To venture into the ski rental business, you may start alone or consider starting as a franchise partner. For an absolute beginner in this industry, a franchise would be advisable.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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