Student instrument rental from home

Parents of school-age beginners, adult learners, and music teachers who recommend a rental before a family commits to buying.

Monthly rental fee per instrument, often with a refundable deposit and optional rent-to-own credit. Revenue grows with each instrument you add to your stock.

• Basic knowledge of band and string instruments
• Record keeping and organizing
• Friendly with parents and teachers

• Check whether your municipality requires a home-based business licence
• Commercial general liability and contents insurance that covers stock kept at home
• Damage, loss and late returns, so get a clear signed agreement and deposit
• Check how to charge GST/HST once you pass the small supplier threshold
• Check school board and local rules on selling to students

Estimated startup costs are typically around $1,500 to $7,000, depending on how many instruments you buy and which types, such as violins, flutes, clarinets or trumpets. Most of the spending goes into building your starting stock.

Estimated monthly revenue is typically around $300 to $1,800, depending on the size of your stock, rental prices and local demand. Damage, loss and late returns can affect results, so use a clear signed agreement and deposit.

Check whether your municipality requires a home-based business licence, and get commercial general liability and contents insurance that covers stock kept at home. Also check GST/HST once you pass the small supplier threshold, and school board and local rules on selling to students.