The equipment hire business is a very big market in Nigeria and it keeps growing. There is actually no limit to the equipment leasing industry. Most people think that Equipment renting is just limited to Heavy equipment only like excavator hire and construction equipment hire.
This article is an eye opener from two perspectives, either as an investor or as customer. Whatever information you may seek about equipment hire business, we would properly trash them here. I would encourage you to read through the whole article because there is so much more to learn.
How to Invest in Equipment Hiring?
Equipment hiring is perceived and a very cost intensive venture but that is not completely true. It depends on what type of equipment you want to invest in. The most import thing you have to look out when investing in equipment hiring is the market. Do you have a ready market? For example, you decide to invest in generator hiring in a major city where there is hardly any power outage, Every house comes with a backup generator and even solar system. Off course the business would suffer.
The whole idea is very simple, let your business be the solution to a problem. That is why uber hire, taxi hire is a very lucrative business in any major city. Our case study in equipment hire business today is Nigeria. As you know Nigeria is divided into so many regions commercially.
The north and the middle belt of Nigeria are mainly known as farmers. If you ever want to invest in equipment hire in these parts of the country, I would suggest Farming equipment hire, Processing equipment for rice, millet, corn, milk even livestocks. Storage and transportation equipment are also a good source of investment.
The western part of Nigeria especially Lagos is a fully commercial city. There is actually no limit to what you can invest in when it comes to equipment hire. You can invest in the hire of canopies since Lagosians love street parties, drone hiring, projector hiring, chairs hiring and the list keeps piling.