ForConstructionPros.com

It's so interesting to see what other successful rental business operators are doing to develop more income streams. Some of them diversified before the latest recession and it has served them well.

As an example, Gary Baxter, owner of Yellowstone Rental & Sports Inc., an equipment rental business in West Yellowstone, MT, started his business in 1997 in a town with a very small population - fewer than 1,000 people. Although the population has grown a little, it still is a very limited population base.

His rental business in West Yellowstone had been averaging business growth of 10% to 15% per year. But from 2008 to 2009, the business there has seen a drop of 60% to 65% due to the economy.

In 2000, he started YES Services (which stands for Your Emergency Support Services), a division of Yellowstone Rental & Sports Inc. His emergency support business is designed to assist in the event of natural (and national) disasters such as hurricanes, tornados, earthquakes and forest fires.

His company rents power generation (mostly in the 70 to 85kw class); heating and cooling; portable toilets; hand wash facilities; showers; laundry facilities and much more. His equipment and facilities can be rented with or without full-time attendants.