The construction industry is one of the most dangerous fields to work in. In fact, around 20% of industry worker fatalities occur in this sector. Coupled with this, it also incurs losses worth millions of dollars from several non-fatal injuries.
This is why safety is so important in construction. While it comes at a cost, the price of negligence is far greater; a single violation of any safety precautions defined by the Occupational Safety and Health Administration (OSHA) can cost you up to $70,000.
In 2017, the US education industry was valued at $1,350 billion and is expected to reach approximately $2,040 billion by 2026. With a CAGR of more than 4.5%, the education sector continues growing at an exponential rate.
A growing student body means more and more inventory to provide for them. This naturally means it is becoming increasingly difficult for the education industry to manage an ever-growing inventory. These struggles, however, are not limited to inventory only. They also extend to several other problems as well.
The global Audio Visual (AV) industry is set to grow from $247 billion in 2019 to a staggering $325 billion in 2024. AV rentals constitute a significant chunk of this industry and play an important role in its growth as well. Audio Visual equipment is typically found across several sectors, from media and production houses to educational institutes renting out items to students.
With constantly advancing technology and increasing equipment prices in the Audio Visual industry, many people are now opting to rent out cameras and tripods, etc. This is why AV rental stores have also become more prevalent.
Once upon a time, only beginners rented skis. However, with rapid improvements in skiing equipment and the rising cost of winter vacations, even the most professional skiers now choose to rent on site.
As a result of this shift from buying to renting, the ski rental industry in the US has consistently been growing at an annual rate of 0.5%. So if you’re looking for a start-up and are passionate about skiing, a ski rental business is the one for you.
The US construction rental industry is amongst the largest around the world. In fact, the construction rental equipment industry managed to rake up a total revenue of $45 billion in 2019 alone. This sector alone contributes a crucial percentage to the GDP value of the country. It would, therefore, be an understatement to say that it plays an important role in driving up the economy.
Increasing rental sales also brings with it many opportunities for companies in this space. However, it also comes with its own set of construction rental challenges.
The rental industry is set to grow from $15 billion in 2014 to $335 billion by 2025. Considering investing?
The rental industry has tremendous potential for profits but starting a rental business isn’t easy. You need to play the long game to come out on top. With a million things to sort out, you need answers.
Our rental checklist has got them!
In an era where countless entrepreneurial projects are emerging, starting your own thing might seem frightening. Of every 100 new startups, 90 are destined to fail. This means that aspiring entrepreneurs needs to be very careful when looking for the right market to tap into.
Currently, furniture rentals is one of them.
AV equipment, construction equipment, or even costumes; rental items are expensive no matter the industry. This makes sense because people only rent items that they can’t afford to buy otherwise. When companies invest in an extensive collection of high-value items, it becomes important to safeguard it from employee and customer negligence.
Negligence comes in many forms: items incur damages when not used with care, get stolen in the presence of substandard security, or are returned late by customers leading to lost revenue.
The costume rental business is part of a continuously flourishing industry that presents many opportunities for growth. The reason for this is simple: Why would anyone want to buy an expensive costume that they’ll wear only once?
There will always be a need to rent out outfits since people don’t want to purchase costumes that they will only wear once. So if you’re looking to venture into something lucrative, a costume rental business is perfect for you. Not only is it an amazing startup idea, but it’s also fun!
Running an AV equipment rental business is quite a struggle. It not only involves keeping track of AV items but also their accessories and kits. As an AV rental business, you want to rent out your equipment as much as possible.