Used forklift resale and rental business

Small warehouses, manufacturers, farms, lumber yards, builders' merchants and businesses that can't justify a new machine.

Profit on the gap between purchase and resale price, plus short or long-term rental fees and extras such as forks, chargers and delivery.

• Judging the condition and fair value of machinery
• Negotiating and sales
• Basic mechanical knowledge or a trusted mechanic
• Record keeping and paperwork

• Check each machine for liens or outstanding financing before buying (for example through your provincial personal property registry)
• Commercial general liability and possibly garage or inventory insurance; ask a broker what covers rented-out equipment
• Check your provincial workplace safety rules: buyers need trained operators, and units may need inspection or data plates
• Check how to handle propane cylinders and large batteries safely and legally in your province
• Capital is tied up in unsold stock, so keep purchases modest at first
• Check GST/HST or provincial sales tax rules for used equipment sales and rentals

Startup costs are estimated at typically around $15,000 to $70,000, depending on how many machines you buy, their condition and the yard or unit you use. Capital is tied up in unsold stock, so keeping early purchases modest is worth considering.

Monthly revenue is typically estimated around $6,000 to $30,000, depending on how many units you sell or rent and their prices. The estimates assume at least about 15 hours a week.

Check each machine for liens or outstanding financing through your provincial personal property registry, and your provincial workplace safety rules on trained operators and inspections. Also check propane and battery handling, insurance for rented equipment, and GST/HST or provincial sales tax rules.