Idea

Make money through your underutilized goods lying around the house. 

Market Focus

Our initial focus is on

• Camera equipment
• Travel & luggage
• Party equipment
• Games and consoles
• Cycles

 

As these are more likely to be used occasionally with high probability of being idle. We will not be constraining the platform with a specific categories, and the provider is free to add any listing. 

Onboarding incentives and first party goods initially. 

Exchange

We will be pushing the consumers towards self-pickup of the rental item, but the consumer has an option to opt for home delivery, for which he will be charged extra. The delivery service will be provided through a third-party service provider. 

 

We provide the consumer to put up a request through our booking system, where he/she can check item availability and also talk with the provider about pickup time and other details without loss of the privacy like Airbnb. 

Disintermediationmethods

We provide an insurance scheme which is tied to the renting price, for the rental providers. In case of damage or theft, the consumer would be contacted, else the provider can claim the insurance.

 

Insurance is optional for the provider and would be cut from the rental fee.

 

Insurance provider - Allianz

Theft and Security

Most insurance policies do not cover theft in their claim policy, so we need an alternative measure to tackle this problem, which is quite common in India. 

 

We will be asking consumers to go through a KYC procedure in the onboarding process. 

Gamification

To improve network effects, we will add gamification elements to our platform. with levelling up and leaderboards for the providers.

 

Each level slab will have benefits for the providers which he can avail, like closed wallet cash back to spend on the platform. 

 

We will also have monthly rewards for top leaderboard positions. 

Features

To promote network effects within the platform, we will be showing stats about the provider to the consumer like rental approval rates, response rates, badges gained through our gamification system, reviews and ratings. 

 

The consumers can see how much money they have saved from rentals, as an incentive to rent rather than buy. 

 

The producers will have a dashboard where they can track all their current rentals, check earnings, contact renters, stats etc.

Monetization

Listings on the platform are free. Providers are charged on a transaction basis.

 

Service charge at the time of the transaction: 15% of the listing price (inclusive of the insurance) to be born by the provider, 9% otherwise.