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So I got one hell of a system for sale
What would your system consist of Ollie ? Would you be supplying him with ALL the hardware for his show, or does he have the basics and you'd just be supplying him with mixer, amp and cabs ? Does he have microphones, his own cable, a Karaoke machine ? Does he currently have ANYTHING required to host Karaoke ?
Assuming this person wanted to go out, but initially needed to rent a good system from a music store that rents comparable systems to what you have, what would the individual have to pay per week in order to rent what you are supplying him with ?
I don't know todays market regarding PA rental, plus things are smaller today than the old days when we had to rent ocassional stacks, and bins. But I also don't know HOW extensively he'd be relying on you for a portion, or all hardware to entertain either. I suppose there already is a "reasonable rental rate" that's asked for comparable equipment in your area assuming an individual needs PA equipment, AND assuming there's a means of him getting to such a store that might or might not be within close proximity to your location, what would this individual be paying to rent a PA and related hardware today ? Depending on how many hours he's working, $15/hour might be cheap, not sure.
This was my initial question, are you in essence acting as a "rental facility", or would you be an entertainment partner who's present ? Whatever a reasonable amount for renting your system would be per week would be (seems, I suppose) what he should pay you. Personally, I'd not want to rent my BETTER equipment. Fear of damage from roaduse, abuse, and theft, especially if it's an intricate system consisting of many separate components.
Sell it to him if you feel you are done with it. Sell it to him for an AMOUNT YOU can live with. Don't just give it away if it's that good. Many friendships have ended over damaged loaned equipment. This can be a problem you should be prepared for. I hate seeing what starts as a favor, end as the return of ripped tolex, speaker cloth, and cracked face plates, ripped speakers, busted nobs etc... Not to mention guitars that have nasty dings, and deep belt buckle scrapes thru the finish... I won't lend "my top of the line" equipment out again, in fact in no cases will I rent, and in only a select few "loan" anything. I'd rather lose such income and know it's sitting safely collecting dust in my basement. While they claim I can't take it with me to the next place, I want to make sure it's in great shape when I say good-bye to it LOL
JMO