A good reflector is a necessity whether you shoot on location or in studio. It's like having an extra light source with you. A 5 in 1 gives you extra versatility. I've found one on Amazon that gives you an added color, or should I say lack of color that many 5 in 1's don't, and at a steal of a price. This particular 5 in 1 has a Black option. So when there's too much light, you can use the translucent to knock it down a stop or so, or the black to flag it. And the amazing thing is, the 43" kit is less then $15 and eligible for free shipping.
It get's good reviews and I find that it compares favorably with units two or three times the price.
Check it out: