Starting our Bobcat Rental Business

As our rental business continued to thrive, we gained a reputation for success in the industry. One day, while sitting in my office, an older gentleman from Toronto walked in and introduced himself. He had an intriguing proposal—he wanted to know if I was interested in becoming his partner for a new Bobcat dealership in our part of Ontario. I was taken aback, as this opportunity seemed to come out of nowhere. He explained that the local Bobcat dealer had gone bankrupt, and he had the chance to take over the dealership. He wanted to know if we would join him as his partner.

At that time, I had never even ridden a Bobcat, but I was definitely intrigued by the idea. However, there was one potential hurdle—I was only 28 years old, making me the youngest Bobcat dealer at the time. Because of my age, Bobcat sent a team of representatives to meet with me. They flew in to evaluate our operation and determine if we were the right fit to represent the brand. Fortunately, we gained their approval, and we were officially in the Bobcat business.

The venture turned out to be incredibly successful. We quickly grew our fleet to about 40 rental units and focused heavily on building a strong parts department and offering a wide range of attachments and accessories. Bobcats proved to be an outstanding investment. We had customers coming in 20 years after purchasing their Bobcat, often with no need for major repairs or parts, and the machines were still worth more than their original purchase price.

Looking back, the Bobcat business was one of the best ventures I’ve ever been involved in. The dollar utilization and return on investment (ROI) were exceptional. If you do the math on purchasing a Bobcat and renting it out, it’s a fantastic business model with great potential for profit. The excitement of starting as a young dealer and growing the business to what it became is something I’ll always cherish.

Starting our Boom & Scissor Lift Rental Business

As we expanded our swing-stage and scaffolding rental business, we often found ourselves needing boom lifts and scissor lifts to access various areas. Soon, customers began asking to rent these lifts from us, and we saw an exciting opportunity to create a new rental business. However, the cost of this equipment was significant—a boom lift could range from $150,000 to $250,000, money we simply didn’t have at the time.

To overcome this challenge, we approached a larger lift company and negotiated a deal to rent their booms and scissor lifts on a one-year term at a significant discount. This allowed us to rent out these units on a daily basis. In the rental industry, it typically takes seven to ten daily rentals to cover a monthly rental cost. If we could rent these units more than that each month, we’d not only cover our costs but also start generating profit.

This strategy worked out incredibly well. We were able to rent out the lifts consistently, building a solid customer base and generating steady income. Eventually, our success caught the attention of JLG, one of the leading lift manufacturers. I flew out to Pennsylvania, and we became the JLG dealer for our territory, which was a game-changer for our business. The lift rental business proved to be extremely lucrative, and our success ultimately led to our company being acquired by Hertz. It was an incredible journey, transforming a simple necessity into a thriving business.

Starting our Party Rental Business

It all started when my mother was getting married, and I had to rent tables, chairs, and a tent for the wedding. The experience was frustrating and far from what I had hoped for. That's when I realized there might be an opportunity to do things differently in the party rental business. I decided to explore the market by driving to different cities and talking to various rental houses. From those early explorations, Cody Party Rentals was born.

We set out to create a business that focused on simplicity and quality. Instead of offering an overwhelming variety of options, we chose to invest in one type of cutlery, one type of dishware—items that were durable and had a great return on investment. We purchased high-quality barbecues, sturdy tables, and reliable equipment that would stand the test of time.

Now, 26 years later, we're still using some of the original barbecues, tables, and inventory we first purchased. When I look at the numbers, the ROI on these items is phenomenal. The longevity of our equipment has been one of the keys to our success. People are always happy when they come to us, and we've even spun off other businesses, like a tent rental service and a linen rental company, from our initial venture.

Take something as simple as chair covers. We can buy them for $3 and rent them out for $2, making back our investment in just two rentals. Wine glasses are another example—you can buy them for $1.50 to $1.80 and rent them for $0.60 each. The math is compelling, and it’s clear why this has been such a rewarding business. It's been a lot of fun growing Cody Party Rentals, and I’m proud of how we've turned a frustrating experience into a thriving, long-lasting enterprise.

Starting our Swing Stage Rental Business

Starting a business often begins with identifying a need, and that’s exactly how we ventured into the swing-stage rental business. Our journey began with a small window-cleaning company focused on residential jobs. As we grew, we expanded into commercial window-washing, eventually managing a team of 40 window-washers. With larger buildings came the need for swing-stages—machines that lower you down the sides of skyscrapers to clean windows. We rented these swing-stages about ten times, each costing us around $1,000.

This frequent expense got me thinking—why not buy our own swing-stages and rent them out? However, the local dealer had exclusive rights and refused to sell to us. Determined, I spent two days in the library searching for another provider, but found nothing. So, we drove to Toronto and began searching the skyline for swing-stages, jotting down manufacturer names. Eventually, we discovered Spider, based in Seattle. After negotiating with them, we became their dealer for Eastern Canada, launching our swing-stage rental business.

Starting our Scaffolding Rental Business

As we were building our swing-stage rental business, we occasionally needed scaffolding for sidewalk protection and small jobs. It was a minor part of our operation until one day, a team member mentioned a huge construction project in town—the biggest at the time—that required scaffolding. They suggested we bid on it. At that point, we owned almost no scaffolding, but we decided to give it a shot. After hours of calculating and figuring out a quote, we submitted our bid. To our shock, we won the job. But now we faced a big problem—we had no scaffolding.

With no time to waste, I approached the two competitors who had also bid on the project. They had the inventory we needed, so I negotiated with them to rent their scaffolding at a 20% discount, allowing us to make a profit. One owner, Dennis, reluctantly agreed, and that’s how we got started in the scaffolding business. As the project expanded, I found an investor who put up $100,000 to buy more scaffolding. We did a revenue split for three years, and then I bought out the equipment. That investor made about 300% on their investment, and we built a thriving scaffolding business without spending our own capital. Scaffolding turned out to be a fantastic business—whether made of steel or aluminum, the equipment appreciates in value over time, making it a solid investment.

Starting in the Tool Rental Business

We were busy running our rental businesses when I received an unexpected call from someone in the tool rental industry. He and his wife had been successfully running their small tool rental business for several years, but with a Home Depot rental center opening nearby, they were concerned about the impact on their business. They approached us to see if we’d be interested in partnering with them.

While we had experience in various rental sectors, small tool rentals were new territory for us. However, I saw this as a fantastic opportunity to learn from someone with deep experience in the field. We agreed to partner with them, and it turned out to be a great decision.

We got deeply involved in the business, learning the ins and outs of small tool rentals from our new partners. In turn, they benefited from the strategies and insights we had developed in our other rental businesses. Together, we built the tool rental business into a strong competitor that held its own against the nearby Home Depot rental center. Interestingly, the presence of Home Depot actually boosted our business. Customers preferred our service, and our competitive pricing made us an attractive alternative.

After several years of growth and success, the original owners decided to buy the business back. Today, their son runs it, continuing the legacy they started. It’s a beautiful thing to see how this partnership not only strengthened a local business but also kept it thriving in the hands of the next generation.

Starting our Costume Rental Business

Our journey into the costume rental business began as an extension of Cody Party Rentals. Initially, we saw it as a way to capitalize on the Halloween season and various events by offering costumes for rent. What started as a seasonal addition quickly turned into a thriving business, thanks to the demand for high-quality costumes that people could rent at almost the same price as buying them.

The success of our costume rentals led us to start Monster Halloween, a venture that eventually grew to 26 locations. At our peak, we were handling all the online fulfillment for major retailers like Walmart, Best Buy, and Costco. Despite the success of our retail operations, the rental side of the business remained our favorite. Costumes could be rented out repeatedly, especially the staple ones that were in demand year-round for various events. The durability and repeat use of these costumes made the rental side incredibly profitable.

It was a business filled with creativity and fun, and we thoroughly enjoyed being a part of it. However, like many others, the business was impacted by COVID-19, leading to its eventual sale. Despite that, the costume rental business remains one of the most enjoyable and rewarding ventures we've ever been involved in. It was a perfect blend of creativity, customer engagement, and profitability, making it an unforgettable chapter in our entrepreneurial journey.

Starting our Linen Rental Business

The demand for linen rentals at Cody Party grew so rapidly that we soon found ourselves overwhelmed. Recognizing the potential, we decided to spin off the linen rental division into its own business, which we named Luscious Linen. We opened a new facility equipped with all the necessary machines to clean and iron the linens, and the business took off from there.

In terms of return on investment, linen rentals turned out to be one of the best ventures we’ve ever been involved in. Even back then, the numbers were impressive, but today the opportunities are even greater. For example, you can buy a chair cover for $4 or $5 and rent it out for $2 or $3 each time. These chair covers can easily last through 15 to 20 rental cycles, if not longer. They’re extremely easy to maintain, and the beautiful thing is that they can now be shipped to different cities.

Given the high ROI, you don’t have to worry about daily rentals. Instead, you can offer chair covers as a weekly rental, giving your customers more flexibility while still ensuring a strong return on each item. Many linens today can even be cleaned in a regular washing machine, making it a fantastic home-based business opportunity.

Luscious Linen was a success, and we eventually sold the company. It’s now known as Groovy Linen, and they continue to do a fantastic job, remaining one of the premier linen rental companies in the industry. Looking back, starting a linen rental business was one of the smartest moves we made—it’s hard to find a better return on investment in any rental business. The combination of high demand, low maintenance, and excellent profitability made it a standout venture in our entrepreneurial journey.

Leveraging Technology to Build Rent Anything Store

Reflecting on my journey, I feel incredibly fortunate to have had the opportunity to start and build a variety of rental businesses over the years. From party rentals to swing-stage rentals, each venture has been a rewarding experience, filled with valuable lessons and growth. But as I was building these businesses, another passion emerged—technology. This interest led to the creation of MarketplaceStudio.io, a company that builds marketplaces for clients around the world.

Marketplace Studio has been an incredible journey in itself. Each marketplace we build teaches us more about technology, and with every project, we become better equipped to tackle the next one. This continuous learning cycle directly benefits RentAnythingStore, as everything we learn and develop can be implemented to make the platform even better. The work we’re doing in AI, for instance, is particularly exciting, and we believe it will have a huge impact on the future of our marketplace.

I’m grateful to have a strong team and a co-founder at Marketplace Studio who shares this vision. Together, we’re pushing the boundaries of what’s possible in the tech space, and it’s thrilling to see how this work enhances RentAnythingStore. But at the core of it all, my true passion remains with RentAnythingStore and helping others participate in the rental economy.

The beauty of the rental economy is in its simplicity—you can take something you already own and turn it into a source of income. Beyond the financial benefits, it also has a positive impact on the environment by promoting reuse and reducing waste. There’s something truly satisfying about knowing that what we’re building not only helps people make money but also contributes to a more sustainable world. It really doesn’t get any better than that.