Renting out trailer.. bad or good idea?

[Henry Boyd]

As my mother says "it's all fun until someone eye is poked out"

Like many small side businesses, they just don't think through the gamble they may be taking. Kind of like the generator discussion, "I have slept on a boat with a Honda running hundereds of times and I aint died yet" If they have a simple contract they may still be rolling sevens...

MM

MM Exactly. As an example, google the Willis Mini-Van Lawsuit. Long story short, family in min-van driving along the highway in Wisconsin when a part falls off of the trailer directly ahead of them. The part punctures the mini-van fuel tank and van explodes. Five of the children where immediately immolated, a sixth died later, the remaining children and parents were all horribly burned trying to rescue their family.

The trailer was a rental unit. The lawsuit that ensued involved everyone who had ever had contact with that trailer; manufacturer of the trailer and mini-van, component manufacturers, repair companies, safety inspectors, the rental company, the railroad that had rented it, and the tucking company that was hauling it. When it ended it cost Chrysler and the rental company $ 100 million the General Counsel and VP of Operations for the rental company lost their jobs, and there were still six children dead.

By the way the rental company is no longer in business, its parent an insurance company, liquidated the operation a few years later. It didn't matter that the company had years of safe operation behind it, or was renowned in the industry for high maintenance standards. One trailer accident essentially brought down a business that generated several hundred million dollars of revenue a year.

If someone wants to start a trailer rental company, great, I'll be glad to give them pointers for a business plan that will work. However, one trailer won't even come close to paying the insurance premium needed to properly cover the potential risk.


Henry

 

[northern]

Henry
Based on your story one should never lend any on a ball point pen. If they poke themselves and get infected you are liable. Sad state the US is in when you sue for all events. I fell on a marina dock in Washington brock my arm. Based on the way things are in the US I should have sued.

 

[Henry Boyd]

I think the problem is that nobody ever really thinks about the risk. They see $200 per day rental, and that's it.

The accident above was the worst I've ever seen, and I have not seen or heard about anything as horrible since then. As a lesson from that would I be afraid to operate a trailer rental company? Not at all. But I would make sure everything from insurance to maintenance was 110%.

And that's my point, by the time you consider everything it will take to do it safely, the $200 per day barely scratches the surface.

Henry

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[Deuceornothing]

I couldn't find a trailer for my 310 last year but found a friend that had one this year. After pulling our boat 2 weeks ago I would only rent the trailer if I was going to pull it myself. Granted our boat has a 12ft beam and was supposed to weigh 13k but the 2500 diesel almost stalled coming up the ramp in 4 wheel low. We only had to go 1/2 a mile down the rd but I also have years of experience with oversize and heavy loads.

Bottom line people will tell you one thing and do another and the only way you can be sure what goes on your trailer is to be there. I would do it in a heart beat if I were to buy another diesel truck.

Either way good luck!!!