Leasing used pianos

[Dean May]

Gerald

 

It baffles me a little why you got mostly negative feedback on this idea. I
think it is a great idea. I used to rent pianos when I had a retail store. I
had one old beater spinet I couldn't sell for $400, but I made a lot more
than that on it renting it out at $35/ month. I bet I rented that piano 6
times before someone finally bought it and easily made a total of over
$1000. 

 

When I rented the piano, I charged a setup fee of $65 plus the first full
months rent, plus the pro-rated month to get paid through the tenth of the
next month. So I could easily collect over $100 on the initial payment which
I figured would cover my delivery and pick up expense (which I did my own).
You gotta figure it's bread and butter work, it's not real profitable, but
it's money, and the resulting monthly residuals will be practically free
money. Plus rentals are often for people whose kids are starting lessens,
and they are a little more likely to get the piano tuned regularly- more
money. 

 

Some pianos will require practically no prep by you, some a little more than
you'd like to give them. It'll average out in the end.

 

I would try to get the delivery fee from the dealer if I were you and do the
deliveries- more money. :-)

 

Dean

Dean May             cell 812.239.3359 

PianoRebuilders.com   812.235.5272 

Terre Haute IN  47802

  _____  

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf
Of mccleskey112 at bellsouth.net
Sent: Monday, July 30, 2007 10:27 PM
To: pianotech at ptg.org
Subject: Leasing used pianos

 

Pros and Cons about leasing used pianos. The store that I service for wants
me to partner with them in \"fixing up\" and leasing used pianos. They are
offering a 50% deal. We can rule out purchasing cheap new pianos. Our target
is 50 to 20 year old instruments that can be repaired and tuned to A440. The
dealer is doing the financing and delivery and I am providing the labor and
maintenance. Deal or no deal? Thanks for your advice.

 

Gerald

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