Regular readers will know that we like rental businesses here. Basically, you are able to sell something…but then get it back! The criteria for a successful rental product is pretty clear – it’s something which is expensive but used rarely or infrequently. And that’s why I’d like to suggest power tools.

Cheap power tools are abundant, but they’re also pretty useless. Small builders and DIY enthusiasts often need professional quality tools to carry out a specific job, but don’t want to invest money in something that will be standing idle for much of the time. There’s a solid business to be had in any populated area by buying in a stock of these tools and then renting them out on a daily basis.

Obviously this is something that requires some up front investment, but once you have the ball rolling, repeat custom should ensure that you have a profitable long term business.