Hiring out electrical equipment

[simpson7647]

hi all, im after some information on hiring out electrical equipment and laws around it.

Each piece of equipment is worth around 20 to 30 pounds and hiring, i will charge around 5-8 pound for a week.

I was thinking of simply saying, you will have to send me 20-30 pounds and the fee for the hire, and then once i recieve the goods backing and in working good condition, they will recieve the 20-30 back.

Although are there any other ways around this as i cant imagine many people would do this.

Could i only charge the fee and get all the pieces of equipment insured?

How much would this cost?
Where can i get this done?

All information much appreciated.


Many thanks

Ryan

 

[S-Marketing]

One of my businesses hires out tools. We dont do anything worth less than £100-£150 as there is no market. If someone wants something for 20 quid they will just buy one. Also the insurance, maintenance, PAT testing and overheads will make it a waste of time for you to do, unless you have thousands of them out on hire.

 

[simpson7647]

oo so insurance wise and that isnt worth it.

Maybe someone would just buy it although it links in with my product etc and would only be needed for the product.
So hiring is better than buying really as they may never use it again.

thanks

 

[S-Marketing]

oo so insurance wise and that isnt worth it.

Maybe someone would just buy it although it links in with my product etc and would only be needed for the product.
So hiring is better than buying really as they may never use it again.

thanks

Whats your product and what is it you are thinking of hiring mate? If it compliments an existing product it may be worth doing.

 

[simpson7647]

Its simply a tool to help fit my product.
Not a tool your going to have to use everyday and not one everyone is going to have, so worth renting out id say for say 7 pound for 7 days kind of thing.
Not decided on prices yet.

thanks

 

[S-Marketing]

Its simply a tool to help fit my product.
Not a tool your going to have to use everyday and not one everyone is going to have, so worth renting out id say for say 7 pound for 7 days kind of thing.
Not decided on prices yet.

thanks

Need to know what is is really mate. Feel free to pm me if you dont want to say on here.

For such a low cost item, I would imagine it could make a pretty good add on sale to whatever the product is you sell. That way you have much less hassle and a few extra quid in your pocket.

 

[longleaf1]

i still think that even if i was going to use it only once, i would buy it for 20-30 quid, i wouldnt hire because if for some reason i managed to damage it, i would have a right load of hassle to go through.
Also how big is the item? have you thought about the costs of transportation?

 

[S-Marketing]

i still think that even if i was going to use it only once, i would buy it for 20-30 quid, i wouldnt hire because if for some reason i managed to damage it, i would have a right load of hassle to go through.
Also how big is the item? have you thought about the costs of transportation?

Also if they hire it they have an additional journey to do, to take it back.

 

[simpson7647]

i still think that even if i was going to use it only once, i would buy it for 20-30 quid, i wouldnt hire because if for some reason i managed to damage it, i would have a right load of hassle to go through.
Also how big is the item? have you thought about the costs of transportation?

Its not a large item and would cost around about 5 pound to send.
Obviously this means it has to be sent too and then sent back which adds up the cost.

thanks

 

[longleaf1]

Again you see - thats 5 there 5 back - £10 + £7 for a weeks hire £17.00

For an extra tenner, honestly mate, i would buy it, I don't know anyone that wouldn't.

 

[MikeJ]

It would actually be better if it was big. That way they'd not want to clutter up the house with it.

 

[simpson7647]

yea very fair point.
Probably more more selling or if i was to hire, would have to lower all prices etc

thanks

 

[simpson7647]

It would actually be better if it was big. That way they'd not want to clutter up the house with it.

Yea good point, although its not

Only advantage is that it isn't a piece of equipment like 'a drill' that your likely to use more often


thanks