Leasing used pianos

[Tom Sivak]

Gerald

Are you locating the pianos or will the dealer present you with pianos they want you to fix up?  If you were in control of choosing the pianos that were to be leased, you could reject any piano that took too much of your time, and accept pianos that would earn money with a minimum of time invested.
   
  Two pianos, both Kimball consoles.  One needs the capstans adjusted and the let off regulated, and it's good to go: soon it's out there earning you 50% of the monthly rent, after putting about one hour of labor into it.  In one or two months, you've broken even on the the one hour of labor; you would have equaled the money you would have earned if you had simply charged the dealer for your labor and let him keep the rent himself. 
  .  
  The other piano has a cracked bridge, needs the key bushings replaced, and has 3 broken strings.  They'd have to rent that piano for quite a while before you'd break even on your time invested in it.
   
  Are these leases structured with a "rent-to-buy" option?  I find that most people go ahead and purchase the piano, after investing a year's worth of rent in it.  If so, do you get 50% of that, too?

I think this arrangement has potential.  I like the entrepreneureal aspect of it, and I like getting paid for months for the work I've already done. (Who wouldn't?) After you got a dozen pianos out there earning rent, it could be a nice little monthly check.
   
  I would just be sure I didn't get forced into putting a week's worth of work into any given piano; if you can't pick the pianos themselves, at least you need veto power!

  Good luck!
  
Tom Sivak
  Chicago
mccleskey112 at bellsouth.net wrote:
            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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