Renting over buying trend is booming in the world. According to statistics, in 2021, the size of the equipment rental market in the United States will be approximately $ 59.4 billion and a projected annual growth rate of 6.1%. In the rental marketplace, the vendor can rent out from small party supply
Renting business is a quick buck idea, where the vendors, as well as marketplace owners both, can earn a profit. A vendor can rent out high demanding types of equipment and also the ones they don’t want to use anymore. On the opposite side, marketplace admin can keep commission fee for providing services.
If you are looking to start an online rental marketplace, then you can build it with the following two options
Develop a rental marketplace from scratch
Start with ready to launch solutions
If you are really looking to enter the market rapidly then ready to launch solutions is a viable option. With ready to launch solutions you can set up your rental marketplace within less span of time and cost-effectively.
Here are the four popular online rental marketplace solutions, which allow you to launch your rental marketplace swiftly:
Yo!Rent is a popular and powerful multi vendor eCommerce rental platform that allows you to run your site off your own server, fully customization with intriguing renting and selling feature. It is also a content management system where you build a marketplace and publish, edit and delete own content to rent out or sell items. It even works with multiple payment gateway and multi-layer security for distributing payments to vendors. This provides a visual dashboard to manage order and understand business growth. YoRent software comes ideally for a wide range of eCommerce Rental Business — from start-ups and small web shops to large and multi-store online marketplaces. In addition, its lifetime license comes at $1,999 with 12 months technical support. YoRent builds white label solutions through subscription-based web applications.
Sharetribe is SaaS-based amazing, under the radar platform for enlightened entrepreneurs who want to create an online rental marketplace. The software is available with full customer support. You can do multistore management on an automated basis from just one single location. Users can also take advantages of email marketing and SEO management features that the tool offers. Startups and entrepreneurs can create and monitor customers accounts and with order management functionalities, it will be easy to keep track of the orders. Sharetribe e-commerce software comes with a simple and easy user interface. The tool is also open to customization, so users can tailor-made the tool to satisfy their specific e-commerce needs. this software offers free Free Trial and Subscription, and $79 Monthly package.
Exlcart is an open source software o launch online rental marketplace that provides an option to customize its source code according to your need. This software can handle unlimited vendors on a single platform and allows the vendors to upload an unlimited number of products to rent out. It has in-built themes which can be used to represent your brands and according to renting services. In addition, users can share their products on Facebook, Twitter, and Google plus to increase their traffic. Vendors can use multi-level categories to upload products which makes product search easy for the customers. In this software, admin and vendors can maintain the records of all transactions which can be used for future references.