With changing market dynamics and a growing desire for minimalist lifestyle among the millennials, the peer-to-peer rental marketplace idea has gained huge popularity as a profitable ecommerce business model. Platforms such as Zilok, Rent My Items, RentyThing, and Rent Tycoons are fine examples of that.
FATbit Technologies, a software development company did an in-depth analysis of this business model and created Yo!Rent – an online rental marketplace system. It’s a perfect solution for businesses wanting to gain speed to market in setting up a fully-functional online rental marketplace. While Yo!Rent aces the rental game, its scope isn’t limited to that. Websites built with Yo!Rent can also incorporate the selling functionality. That way, vendors can not only list items/goods for rental but also offer an option for sale for the needy customers.
Yo!Rent’s Business Model (Renting and Selling Marketplace)
– Vendors (Product owners) list items for sale/rent on the marketplace.
– Customers rent items for a specific time-period or a set amount of money. They can also buy items with a one-time payment.
– Website owners earn revenue through commissions, featured listings, and on-page advertisements.
Key Features Offered by Yo!Rent
Following are some of the key features of Yo!Rent that make it an ideal solution for launching an online peer to peer rental and selling platform:
Content Management System:
This feature makes it easier for rental marketplace owners to update content on webpages like about us, how it works, product descriptions or to add/remove products.
Visual Statistics:
With simple-to-understand graphical data in the form of bar graphs and pie-charts, YoRent provides an inbuilt analytics system to get a visual representation of the analyzed data.
Smart Review Management:
With YoRent’s smart review management, admin can easily access and manage all the submitted reviews.
Social Media Integration:
Yo!Rent is a social media friendly platform. From the publicity of the brand to advertising listed products on different social networks, social sharing is available at every level in YoRent.
Multi-Vendor Functionality
Admin can add multiple sellers (vendors) to the marketplace and keep a track of their sales.
Moreover, Yo!Rent is packed with useful features such as user ranking management, real-time stock availability, blog integration, search engine friendliness and multiple revenue channels.
Popular Online Rental Businesses That Can be Launched With Yo!Rent
Yo!Rent’s extensive feature offering at reasonable pricing makes it a go-to platform to launch an online rental marketplace.
Among the most popular rental/sales marketplaces that can be launched with Yo!Rent are heavy equipment & construction equipment, furniture, clothing, travel & sports gear, textbooks, and jewellery.
Launching other major types of rental businesses like property rental, venue rental, pet rental, and car rental are also possible with Yo!Rent through additional customization.
Why Invest in The Peer-to-Peer Rental Market?
Sharing economy also popularly known as as the collaborative economy is on an upward curve of growth as it enables individuals to monetize assets that are not being fully utilized. It is expected that the sharing economy will be valued at $335 billion by 2025. As its sub-segment, the consumer peer-to-peer rental market alone is worth $26 billion.
This gives entrepreneurs the perfect reason to invest in the peer-to-peer rental marketplace economy. Yo!Rent is just the right kind of solution to get things started in style.
