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Equipment and Tool Leasing and Sales Franchises
Despite the relatively niche sounding name of this sector, it is one that is thriving. When you think that there are only really around 1,500 franchised brands in the UK, you might think that figure doesn't leave a lot of room for diversity when it comes to equipment and tool hire franchises. But the truth is, there are actually many franchised businesses operating in this trade.
What is an Equipment Hire Franchise? What is Franchising?
An equipment leasing and hire franchise is a business which rents out tools, following the business format franchising principal of business expansion. Franchising is where a business licenses out the rights to trade as that brand to a third party - you. For the franchise investment, you'll receive full training and support, and everything you need to launch the equipment hire business in your own area.
Collectively, brands operating under the franchisor's trademark, is called a franchise - or franchise network.
There are many well known franchised brands out there, McDonalds, Wiltshire Farm Foods and Fantastic Services. Likely the biggest and most recognised equipment hire and sales franchise is Snap-on.
What Types of Equipment Hire Franchises are Available?
Despite the rather broad sounding name of the sector, there are many different types of equipment sales, tool hire and machinery leasing franchises in the UK.
Tool Sales and Mobile Workshop Franchises
Just like the Snap-on franchise, there are several similar brands which operate in a similar manner. Either retail based tool sales or mobile workshops for hire. Generally these franchises will operate both domestic (B2C) and commercial (B2B) clients, enabling franchisees to maximise the potential within their territory.
You won't need any past experience because full training and operational support is available. Some franchises may even help you find your first clients. Ideal if you've never had any past business ownership or sales roles.
Other niche but high demand franchises include specialist lifting equipment such as coffin lifts and RWL products.
Plant Hire Franchises
Mainly operating serving B2B clients but sometimes B2C as well, plant hire businesses lease out machinery such as excavators, piling machines, rollers and cranes.
This is a high demand sector because individual businesses do not have the costs to own these types of machinery. They lease out this equipment and their client carries most or all of the weight of the costs associated with rental. Foundation piling plant, excavators and rollers are all common types of plant hired by businesses. Having a franchised brand name makes you more recognisable. The reputation built up from existing franchisees really helps.
Product & Appliance Rental Franchises
Big-name brands such as easyRental and Yes Appliance Rentals all operate within the equipment hire franchise sector.
Most of the examples covered already primarily serve the B2B market, like automotive, builder and construction businesses. However there are many consumer oriented franchises which deal in leasing equipment. Such as televisions, game consoles, washing machines, - yes there are many businesses which hire out these to customers!
Should You Invest in an Equipment and Tool Hire Franchise?
Equipment and tool hire franchises are great because they will usually benefit from repeat business. Once you work with a client, they'll likely use your services again. Building relationships with clients forms a big part of your role as a franchisee and this will also mean you spend less time finding clients and more time making money. Following this principal, you'll also be able to run the franchise part time once the groundwork is established.
Many tool and equipment leasing and rental franchises are van based, which means as well as the franchise investment (usually around £15,000 for this sector), you'll need a van. If you don't already have one, the franchisor may be able to help source a suitable vehicle and a leasing deal if you cannot afford an outright purchase. Running a van based franchise means you don't need to worry about property premises costs such as rental and utility, and you'll enjoy a generous amount of home-working too.