Rental adventure gear is a good way to try before you buy. For adventure sports aficionados looking forward to their next outing, adventure gear rental platform makes travel easier and cheaper. This is the reason of growing popularity of P2P websites that rent out equipment for vast range of sports.
Online entrepreneurs seem curious about ventures based on rental model. So, let’s take a look at business model of such gear rental websites to have an understanding of how they will make money.
A equipment rental website acts as a peer-to-peer rental platform which charges a nominal commission on all the bookings made through it. While owners will make money by renting their equipment, renters can find a variety of products at an affordable rent.
Now that we have a clear understanding of its business model, let’s learn how the overall architecture of the rental portal works for owners as well as renters.
While some are focusing on a specific sports segment, others are trying to capture a bigger user base. Here are biggest names in the rental market space:
In order to better understand the sustainability of the adventure gear rental sites in the market, let’s go through its website features.
Like most online ventures, peer to peer renting platforms also gets major boost from focusing on user experience and engagement. Hence, focus on simplifying the renting process. Let’s go through the website features and aspects, starting from the homepage.
As soon as users land on the homepage, they must get a clear idea about what the website is all about. Designers of this website should take special care of UX.
Keep the login/signup process simple. There should be a dedicated page for both the options. You can also provide an option to signup/login via Facebook. The overall signup process needs to be highly efficient with options like Email, Name, Username and password. Asking for too much information will only turn away a renter or owner.
After users login, take them to the dashboard which showcases the listing straightaway. This will be a unique approach for your adventure gear rental clone. Usually in other peer-to-peer platform, dashboard comprises of a central hub which showcases all the information related to their account. Make a renter-centric approach by offering a provision for a single account for renter and lister.
Websites like Quiver are using a detailed map view of the listing, making it easy for the renter to find products. Rather than searching for a specific item, the platform must allow its users to find all the gear available in a location. This is not only an efficient approach for the renter, but also streamlines the overall process of finding relevant rental product. FATbit analysts recommend a similar approach.
Search is one of the key areas in any peer-to-peer website. With thousands of items, it becomes cumbersome for users to browse though each and every listing. The search functionality should be simple yet powerful. The search filters can make it easy to find relevant item within few clicks.
Users can also be allowed to sort the listing based on rentals as well as stores. Other filters can include:
The listing page needs to be highly user-friendly with all the information at relevant places. Take special care in making the renting process fast and efficient. You can segment the page in this way:
Your site must have an efficient booking functionality in place. Once users select a product and the dates, make way for users that lead them to the booking form, showcasing the overall price. Rather than booking the item, they should firstly be allowed to make a request to the owner. Once the owner approves the request, only then, the booking process should be completed and the said amount can be deducted from the account of the renter. This is useful in cases when the item is unavailable at the time requested by the renter.
Moreover renters must be allowed to have a direct conversation with the lister before making the request in order to discuss all the requirements. If the lister agrees to the whole arrangement, then the renter can go ahead and make the corresponding booking request. This is an innovative booking procedure that focuses in creating a conversation channel between the renter and the lister.
Keep the overall process of listing an item easy and simple.Make a button on the header that takes the users to “add a new listing” form. The form must ask for some basic details about the rental product, which are vital from the renter’s prospective:
The overall process should not take much time. In addition to it, add insurance policies which will safeguard both renter as well as lister. This can increase user confidence in sharing a personal item with a stranger.
The overall process of making as well as receiving funds should be simple. Although Paypal is a robust and secure payment gateway, try to allow users to make and receive payments directly into their bank accounts without the interference of any middle gateway. Whatever option you go for, make sure it is secure.
Communication channel will help renters and owners interact before making the exchange. A robust messaging tool will go a long way in creating a community feel amongst members. With this, prospective renters will be able to contact listers before making a request in order to discuss queries. FATbit recommends a similar approach for your adventure gear rental clone website.
Each and every lister must have a distinct profile page which makes it easy for the renter to have an overview on the offerings provided by the former. Allow rental stores to make profiles on the website and rent their products as well. The overall page should be highly intuitive and must showcase detailed description related to the lister. In addition to it, all the open listings can be made visible to the users which make it easy for them to select items from a particular store.
The concept of peer-to-peer marketplaces has been around for some time but may still be confusing for new users. This is why a Help functionality is important. We at FATbit believe that rather than a query-sharing feature, a real time help chat can drive user trust in your favor. This is the reason why a real time chat functionality has become an industry standard. Go for detailed FAQ section to get additional points.
Your site must incorporate some unique ideas in order to stand out from the competition. If you are planning to compete with the likes of Spinlister, Gearcommons and Bzike, then, the above mentioned features are a must.
All these features suggested by FATbit analysts will surely create a better and more sophisticated gear rental site. Planning to launch with a clone script or turnkey software? Make sure it brings all the above listed features and is flexible enough to add new ones.
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