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    side-hustle idea

    I've noticed lately I have a bit of an obsession with tools. I hate not having the right tool for the job and I hate when a task takes longer and is sloppier because I don't have the tool I need. So I go out and buy a tool and use it once, then hold on to it forever for "the next time I need it."

    I thought about setting up a free/cheap website where I can "rent" my tools out to folks in my neighborhood or surrounding areas. I live in a suburb so there's quite a few people. It's just a side hustle and I'm really just trying to pay for the tools themselves, so I can undercut home depot or other tool rental places.

    The downside is these are MY tools and I know no one in the city treats things like they own it when they borrow something. Because of this, I would have a deposit that is the cost of the tool and it would be mandatory. If it's returned in the same condition, they get the deposit back. I would structure it in a way so you could rent it for four hours, a day, a few days, a week, etc.

    What do you guys think? Worth doing?

    #2
    Reminds me of a hand painted sign my grandfather hung outside his shop. It read
    "No tools loaned to nobody.
    Anybody.
    Don't Ask"

    I think he lent a few out over the years and learned his lesson, and this was in a tight-knit community of about 75 people.

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      #3
      You might check and see if your city offers a tool library for free. I know that Temple does. Basically, they have a list of tools that you can borrow.

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        #4
        I worked tool rental at Home Depot right out of high school.

        Don't expect much life out of your tools if you rent them out.

        We'd have contractors in all of the time that owned the same tools but would rent to not screw theirs up lol

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          #5
          Would this be tools like drills, saws, etc? We have all kinds of headaches in equipment rental. I'd assume tool rental would have just as many. The first time a guy calls you in the middle of the night because your drill stopped working, and he wants you to bring him a new one, you'll probably take the website down.

          I'd look at insurance as well. Just in case someone decides to cut their leg off with your sawzall.

          Edit: After reading my post it kinda sounds like I'm being a ****. Didn't mean to come off that way. Just not sure the $$$ would be worth your time.

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            #6
            buy all harbor freight stuff with the warranty

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              #7
              I would rent tools from you if I was in your area. It burns me up spending money on tools that I will only use once.

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                #8
                Originally posted by CEO View Post
                Would this be tools like drills, saws, etc? We have all kinds of headaches in equipment rental. I'd assume tool rental would have just as many. The first time a guy calls you in the middle of the night because your drill stopped working, and he wants you to bring him a new one, you'll probably take the website down.

                I'd look at insurance as well. Just in case someone decides to cut their leg off with your sawzall.

                Edit: After reading my post it kinda sounds like I'm being a ****. Didn't mean to come off that way. Just not sure the $$$ would be worth your time.
                I would not do it for this reason right here!

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                  #9
                  I think you'd get more $$ and less headache just being a handyman in situations where they don't own the tool needed for a job. I know a guy that's getting decent money to do stuff like mount TVs around Wimberley.

                  He started through one of those handyman apps and it spread via word of mouth where he was able to stop using the app.

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                    #10
                    Originally posted by Quackerbox View Post
                    buy all harbor freight stuff with the warranty
                    There is the answer

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                      #11
                      Sounds like a good plan. Cover your bases like mentioned above. In addition, how will you handle someone not returning your $500 tool? Can you repair tools, i.e. the wiring? A lot could go against you, but careful planning could be the money maker. Heck, you may start with tools and work into equipment.

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                        #12
                        Originally posted by CEO View Post
                        Would this be tools like drills, saws, etc? We have all kinds of headaches in equipment rental. I'd assume tool rental would have just as many. The first time a guy calls you in the middle of the night because your drill stopped working, and he wants you to bring him a new one, you'll probably take the website down.

                        I'd look at insurance as well. Just in case someone decides to cut their leg off with your sawzall.

                        Edit: After reading my post it kinda sounds like I'm being a ****. Didn't mean to come off that way. Just not sure the $$$ would be worth your time.
                        Sounds like you are just being real. Great advice!

                        Unfortunately everything is someone else's fault now days. Your insurance alone would likely make the tool rental unaffordable. I'm just assuming, I have no experience with this.

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                          #13
                          If you're renting tools with moving parts you're going to want form an LLC and have some type of insurance policy.

                          If that tool isn't in perfect condition and there's an accident you could be responsible. You rent out a saw and someone losing a finger or worse they'll claim tool was defective or negligence. Lawyers will try and get everything you own plus some.

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                            #14
                            It's an interesting idea. Would maybe start it with stuff that can't be broken (I have a bunch of torx type bits I've used once because I had to have it for that one project) over power tools that will get abused.

                            Airbnb model could work too perhaps if you could solve the insurance hurdle. Build a network of people that are reviewed and rated, both as a tool loaner and a loanee and let them borrow and break each others crap!

                            Comment


                              #15
                              Interested...What are you asking for a 2 day rental of a 11mm socket?

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