Rental business is very popular and thriving in Nigeria as many people rely on rents to close up deficiencies.
Apart from bid to cover up deficiencies, from time to time, need arises for unsual activities which demand that some logistics be rented so as to make the one time or unusual event a success.
Rental business has been very popular in Nigeria for a very long time.
It is a very open business with unlimited possibilities and exploits.
Many people now prefer to rent items and things that are not part of their everyday life.
This helps them live very modest and light too. Before now, the most popular and lucrative rental businesses in Nigeria includes renting of tables,canopies and chairs, renting of cooking utensils and cutleries.
While these rental services is still very porpular and lucrative in Nigeria, opportunities in rental business in Nigeria has emerged in other sectors with renting of technological equipments etc.
The very big advantage of rental business in Nigeria is the fact that it can serve as side hustle and doesn’t take much of the time of the investors except for some rentals like table, chairs and canopies.
Also, rental business doesn’t demand huge amount of money before take off.
This is because rental business can be started at different capacities.
In this article, we will review 10 best rental business that is lucrative in Nigeria.
Lucrative Rental Business Ideas in Nigeria
This post will seek to list the best rental ideas in Nigeria. By best rental business in Nigeria we mean rental businesses that pay most money in Nigeria.
Ideally, profit in rental business tickle in small small and isn’t like normal everyday business.
However, there are certain rental businesses in Nigeria that is high paying and lucrative.
These are retail businesses that makes high and big profits.
Below is best rental ideas to start and make money in Nigeria.
VIP Tent Rentals
This is currently the best rental business idea in Nigeria.
It is also one of the best and high paying rentals services in Nigeria.
The use of VIP tents for outdoor events is currently on increase in Nigeria.
This is because these VIP tents shoulder all weathers and provide privacy for users too.
It is however expensive to procure and construct, nevertheless, it is high profit yielding rental business in Nigeria.
The cost of renting VIP tents starts from N150,000 depending on the size and facilities associated with the tent.
Some VIP tents can go as high as N1,000,000. So, you can see that it is a very lucrative rental business in Nigeria.
Tables & Chairs Rental
Renting of tables and chairs business in Nigeria is one of the most popular rental business ideas in Nigeria.
It is also one of the fast moving rental businesses in Nigeria. It can also be started at different capacities and supply numbers.
It is important to note that this rental business demand mobility and the table and chairs will easily be carried from place to place.
It is not a rental business for a lazy person. This is because of high demand that is associated with it especially during festive seasons.
The profit in renting of tables and chairs depends on the type of chairs and table being rented out.
VIP chairs are rented between N100 to N200. While plastic chairs are rented between N30 to N50. Same goes with the tables.
So, this is a very cool rental business that has high demand which interested investors should be looking at.
Canopy rental go hand in hand with rent of table and chairs most times.
However, one can decide to take on canopy rentals only.
It is very lucrative and easily to manage too. It is a rental business that demand mobility for easily response and operations.
The cost of renting canopy in Nigeria depends on the size.
Single canopy is rented between N2500 – N3000 while rent for double canopy is between N3500 – N4000.
It is good and fast moving rental business in Nigeria.
Renting of Tech Equipments
In recent times in Nigeria, rentage of technological equipments such as projectors, sound amplifiers, cameras and drones has increased.
These are rentals that can be done without having vehicle. It is equally lucrative because it is tech.
The cost of renting drone camera ranges between N15,000 to N20,000.
This price range is also the cost of renting projectors too.
However,the price can go higher if the tech involved is of top quality and models too.
Renting of Ladders & Scaffold
Renting of construction and technical work equipments such as climbing ladders and scaffold is a good rental business idea.
Daily, people rent ladders for various reasons. In some cases, electricity workers are usually the biggest customers.
Scaffold is mostly rented by those engaged in construction and special work.
Its very easy in that those renting provides logistics for movement of these items. It is a good renting business in Nigeria.
Renting of Cooking Utensils & Cutleries
Over the years, the business of renting cooking utensils and cutleries has proven to be a good rental business in Nigeria.
Cooking utensils such as cooking pots, spoons, cooking wooden spoon and pot stand is very good rental business idea.
Also, cutleries such as spoons,fork, plates is also lucrative when subjected to rents in numbers.
Renting of Wears & Constume
Renting and hiring of wears such as wedding gowns and constume is a profit yielding rental business in Nigeria.
Not everyone can afford to purchase “one time use” wears such as wedding gowns and asheobi dresses.
Hence many people patronise those into renting of wears such as wedding gowns and other constume.
You can consider starting up this rental business in Nigeria as it is one of the major rental businesses in Nigeria that give high money.
So, you can start any of these rental businesses in Nigeria and be sure to earn handsomely and good income.