Do you have a trailer sitting around that you seldom use? Have you considered renting it out? And if you rent out one trailer successfully, might you consider renting out more? There are numerous used trailers available with which the right person could start a trailer rental business. But is a good idea? Let’s explore.
Lawyers and Insurance
Any time you start a business of your own, you’re going to want to make sure that you talk to a legal representative about all the ins and outs and the legalities. Speak to a lawyer before you start making any drastic moves toward owning your own trailer rental business. You may even want to have a lawyer on retainer if you decide to open the business.
A lawyer can also help you draw up the contract that you will need your renters to sign. If the trailer is registered to you (title and plates), and it is going to be used commercially, your lawyer may need to help you with the complicated aspects of this as well.
Insurance is a must. As a private citizen, we have insurance on all sorts of things. As a business owner, particularly a business owner renting out trailers, you’re going to want to have more than enough insurance to cover you and your trailers in case of a catastrophe (accidents/injuries, theft, etc.)
Even little annoyances can end up costing big money, so lawyers and insurance are indispensable considerations if you want to open your own trailer rental business.
Things to Know
When someone rents a trailer, they should already be assured that the rental company has insured, inspected, and properly registered the trailer. You, as the business owner, will be responsible for brakes, tires, wear and tear, working electrical hookups, etc.
Study The Market and Assess the Competition
Talk to someone that is already in the trailer rental business. You will likely have to go out of your locale to do this. Nobody in your vicinity wants to talk to you about your becoming their competition. Don’t get discouraged if you call one or two businesses and no one wants to talk to you. It might take 10 calls before you find someone willing to share their knowledge.
How strong is your area competition? Find nearby competitors and click on their links. If the competition is super plentiful, you may consider starting your business elsewhere or not at all.
If you are looking to build up an inventory of trailers for rent, and you’d like to purchase used trailers to save money, Mickey Genuine Parts has a wide array of used trailers. Some of the trailers we currently have in stock are as follows:
- Refrigerated beverage units
- Party trailers
- Bulk trailers
- Beverage trailers
- Pup trailers
- Beverage bodies and battery bodies
- We also carry vending bodies, van bodies, and tractors
Our inventory changes so make sure to see if a part or trailer is in stock before you order. And, naturally, we stock numerous parts and accessories for trucks, trailers, vans, etc. We have certified service centers located throughout the United States for your convenience and a knowledgeable, experienced customer service staff at the ready for your calls and concerns. Contact us today at Mickey Genuine Parts to see how we can be of assistance to you.