Hello Nairalanders,
I'm seeking advice on how to start a rental business in the Movie and Entertainment Industry. I intend to rent out equipment that is needed for video production. My target market is people who are starting out in this industry.

I have been able to do a little research on some of the equipment that I need. They include:

1. Tripods
2. Video Cameras
3. Lighting Kits
4. Shotgun Microphones
5. Wireless Microphones
6. Portable Digital Audio Recorders
7. Lenses
8. Drones
9. Gimbals

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I have been able to procure the following equipment:

1. Neewer LED 660 Video Light
2. Sony A6400 Camera
3. Endurax Heavy Duty Stand
4. Rode Video Micro

I am hoping that this is enough to start while assessing market demand before procuring more expensive gear. But I have some questions to ask.

1. What is the best way to get customers? Do I need to have a website, use social media or pay for classified ads?

2. I am still searching for info on the market rate for renting these equipments? For instance, I have the Neewer 2 Pack LED Lights and the Sony a6400 camera and I'm not sure what the daily or weekly rental rate should be?

3. How do I ensure that the equipment rented out is not damaged or stolen? Do I need to have someone physically present at the venue where the equipment is to be used?. Can I charge a caution fee and require renters to sign an agreement? Is it possible to get a comprehensive Insurance package that covers usage by 3rd parties, and helps to mitigate these risks?

4. What other equipment is in high demand for this kind of business?

I'd appreciate any advice especially from people who are in this field. Thanks in Advance

Lalasticlala come and see something