In the sharing economy, online platforms bring consumers together, so they can share their products and services with one another. On various platforms, you can find items like furniture and clothing or you could offer a service like painting, event planning or personal training. You can even rent a home or a car or an RV. With such flexibility, this has been a great way for people to make extra cash during the recent pandemic. As things settle into a new normal, it is time to think about how you can use the sharing economy for new opportunities. Use these methods as your ultimate guide to success in the sharing economy post-pandemic.
One of the best ways to use the sharing economy is to rent equipment that you normally would consider buying. This will be things like technology, camping gear, and tools. If you think you are only going to get a one-time use out of some equipment, it is probably worth renting to save time, money and storage space. Likewise, if you have tools you don’t use all that often it would be resourceful to rent out what you can to others who will use them and earn money!
For example, during this COVID-19 pandemic, any extra medical supplies, tools, and instruments you have available to rent can be of great help. There are numerous things that could help during times like these. Generators, folding tables and chairs are just a few examples.
Another way you can get involved in the sharing economy is by offering your services. Many people provide work that they can put on many different platforms like cleaners, landscapers or those who work in handcrafts. Using these online platforms helps expand and grow businesses through new sales channels. Having a lot of diversity in platforms can be helpful during a pandemic, as many services might be busy. New sharing platforms could help you find a service you never would have.
Renting homes and condos is getting increasingly popular in the sharing economy with increasing hotel prices and availability of homes. Many people have also realized that you can pay off the mortgage on a home or second home by renting it out while you are not living there.
People love this because it provides them with a lot of benefits that they wouldn’t normally have with a hotel. For starters, you can stay in a home that you normally couldn’t afford for the same price as a night in a hotel. Renting a home or condo also gives you more options for the duration of your stay and the location. It typically allows you more privacy, security, and nicer amenities.
Rideshare and other transportation rentals have been one of the most popular trends in recent years. With the convenience of paying a small price to get from point A to B, it is not surprising how prominent they have become. During a Pandemic, any method of transportation can be useful, but especially a car, and if you can get it to someone in need, then you could save lives and resources.
Cars are not the only rentable form of transportation, as boats, bikes, and campers can be rented too. It is not often that you will be able to sell those for anything close to what you bought them for. However, by renting out your transportation to others, you can still make money back on your purchase while retaining ownership. You may even be able to pay off what you spend if you rent it out frequently enough.
Once the pandemic comes to an end, people will be looking to get out of their homes and take on all of the adventures they had planned. If you are one of those people, be sure that you look to rent your equipment. If you have equipment you aren’t using, start preparing to post it online and join the sharing economy.
Written by: Sarah Archer (Content Marketing Lead, siegemedia.com)