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Guest24480
Guest
I understand that rental systems are at the top of the list for passive income entrepreneurship (read this in TMF ), but does this include rentals of physical products? Or would that fall in a different category like distribution systems?
Also, if I were to approach something like this, how would I ensure that the products I am renting out are delivered back to me? What kind of pricing approach should I take (i.e. 5% of actual price of the product, 10%, 15%, etc.) to ensure that the value that the customer is receiving is higher than the price? Does this typically only work in a local setting? Maybe I'm looking too far ahead but I'm curious..
What are some good examples of successful businesses based on this model? First one that comes to mind would be movie rentals through the mail which is obviously a dying model, but I can't really think of many other examples.
I feel like it has to be a certain type of product for this to work (obviously nothing consumable or easily damaged). It would need to be something relatively expensive and out of a consumer's price range for them to want to rent it.
So maybe this isn't the greatest idea with a lack of capital, but I'd be interested in hearing other people's opinions this type of model because I may be missing something in my thought process.
Thanks in advance.
Also, if I were to approach something like this, how would I ensure that the products I am renting out are delivered back to me? What kind of pricing approach should I take (i.e. 5% of actual price of the product, 10%, 15%, etc.) to ensure that the value that the customer is receiving is higher than the price? Does this typically only work in a local setting? Maybe I'm looking too far ahead but I'm curious..
What are some good examples of successful businesses based on this model? First one that comes to mind would be movie rentals through the mail which is obviously a dying model, but I can't really think of many other examples.
I feel like it has to be a certain type of product for this to work (obviously nothing consumable or easily damaged). It would need to be something relatively expensive and out of a consumer's price range for them to want to rent it.
So maybe this isn't the greatest idea with a lack of capital, but I'd be interested in hearing other people's opinions this type of model because I may be missing something in my thought process.
Thanks in advance.
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