Companies like Uber and Airbnb have been instrumental in shaping business models in the 21st century. Their platforms allow everyday people to become entrepreneurs and start their own business without many of the accounting, marketing, and paperwork headaches that are typically associated with your own business. These companies discovered the profitability of leveraging what many ordinary people have and empowered those people by creating a network to share their resources (for a small fee of course). These models put the power back into the consumer hands and allow them to earn passive income. Additionally, this fosters new experiences through the sharing interactions between users! Renters Bay operates in a similar fashion.
Renters Bay allows members to locate/rent a Halloween costume, tools for DIY, a bike for getting to class, an expensive calculator for a special test, a Go-Pro for vacation, a BBQ smoker for a party, or even a cap and gown for graduation! It is a great way to obtain items for one time use. This system can be described as “collaborative consumption.”
According to Harvard Review, “Collaborative consumption gives people the benefits of ownership with reduced personal burden and cost, and also lowers environmental impact-and it’s proving to be a compelling alternative to traditional forms of buying and ownership.”
In a simpler terms, collaborative consumption is associated with a “sharing economy”, which was introduced into the Oxford English Dictionary in 2015.
For the A.D.D. sufferers and fellow vine fanatics, the breakdown of a Sharing Economy is:
You can invest in your future by not investing in the materialistic “stuff” that gets used only temporarily. Instead, you can save your money for a cool trip to chase butterflies in Africa, swim with sharks in Australia, or donate to self-righteous awareness in Europe.
You may ask, “how can this financially conscious consumer benefit me? Imagine, you want to go to the beach with 8 of your closest friends. On your beach trip, you need a method of transportation that offers enough space for all of your beach chairs and sand castle building tools! So, one crappy van may cost you $700 with no guaranteed way back from the beach. Other costs may include:
In an ownership model economy (boo), we could go to Walmart or search Craigslist for your beach trip requirements, but Renters Bay can provide these as rental items for a minimal cost as shown below. This way, if you have commitment issues, you can rent all these items for one time without the risk of being stuck with them.
Here’s how it works:
Renters Bay not only provides a way for you to have an epic beach weekend, but also allows people without a ton of money to leverage their ordinary stuff that may be desired by others... The idea is so easy, it’s even approved in the curriculum at HCC.
Urgggg, we know you engineers and pre-law students want a more inclusive definition to make sure this isn’t a scam.. We will go a step further, even though we know it’s not much of a choice between going to the beach with your friends or staying home alone to eat Ramen noodles while trying to download pirated movies illegally (lame). Now, we are about to persuade all of the overly analytical individuals (who think they know what they are talking about) by spoon feeding the immediate advantages of our system (you can pretend like you came up with them, we won’t tell).
Here it comes, you butter cups!Don’t worry attentional challenged ones; there are only 5 simple concepts)
When Kylie (the cool and fun girl in class) shows up with the newest innovative tech gadget like a Fitbit, Apple Watch, or a drone, we see her with her beautiful smile, having fun, and getting all the attention. However, we all wonder, is the expensive product truly worth it, or are the benefits of it as fake as Kylie Jenner?
Renters Bay provides you with the opportunity to test out these new technologies before spending all of your financial aid money on it! We all know that there is an opportunity cost, but in college, a $1200 gadget is actually $14,675.34 to a seasoned professional with a paying gig. Now, you can see if the product lives up to the hype before purchasing the product.
Honestly, how many of you want to ride your friend’s 10-year old brother’s hoverboard, but don’t have the nerve to ask your buddy. Renters Bay did the research, and 9 out of 10 college students would never ask to borrow the hoverboard and would regret it if their friends ever saw them riding one in public.
Eureka! Now, when you visit your family in Wyoming over break, you can use our platform to rent a hoverboard for a day. More importantly, no one will ever know besides the 10-year old that you rented from. Just don’t have an epic accident that happens to be captured by a Google map camera car.
After your parents forked over $40k in tuition and you slaved for 4-years in a work study program just so you could afford doing laundry once a month, you are forced to choose between an epic graduation party that resembles the movie “Project X”, or appeasing your parents by walking at graduation. Here, at Renters Bay, we say, WHY CHOOSE, simply do both!
Walking at graduation can be expensive, as the cap and gown set can cost over $130 depending on the degree (that’s over 150 cans of PBR or a keg of beer that won’t make you vomit). The worst part; you will most likely use your cap and gown only once in your lifetime, unless you plan on being Harry Potter for Halloween. Renters Bay allows college students to contribute to the family photo album with a picture of you getting your diploma in your cap and gown, as well as fulfilling your obligation to your friends by partying like a rock star to commemorate your college years.
Saying hello to adulthood can be tough while you return home to live in your parent’s basement while applying for jobs without an epic graduation party alongside your 100 closest friends. Renters Bay allows you to rent the cap and gowns from previous graduates at a reasonable cost, and won’t force you to forfeit the legendary status of your graduation party.
We are all about traveling and experiences…
Exploring new places, tasting new foods, and getting off the beaten path are very exciting experiences that make us feel like pioneers. However, many of us travel infrequently.
In college, we, students, struggle to share a closet sized room with a stranger that we were forced to join lives with. Furthermore, most of us only trust them about as far as we can throw our mini-fridge. We grew frustrated with this stranger on day 3 of the semester, but were told by the RA’s that we needed to get real life experience (vomit).
Space is always an issue in these sub-par living conditions (#dormlife). This “stuff” that we only use once in awhile takes up a lot of our “room” and are prime candidates for being pawned by roommates trying to get the cover charge for the all you can drink special on Thursday night. By renting the equipment needed for these trips, you save precious space in your dorm room, plus it’s less risky than owning.
Renters Bay provides a platform to stop owning, and start borrowing! This is counter-consumerism and allows you to experience all of the benefits of owning but mitigates all of the disadvantages like storing, maintaining, and repairing the stuff.
For example, let’s say you are going skiing in Colorado. You don’t have to fork over the cash to buy expensive ski equipment or pay premium prices for renting at the resort. Remember, Renters Bay is available anywhere in the States. Enjoy your time with less hassle by renting the ski equipment from a person in Colorado! This way you can avoid those socialistic prices for carrying extra baggage on airplanes, AND interact with a local who can provide valuable travel tips for your vacation!
This isn’t limited to students. My friend Linman, a business woman from Tampa, traveled to Chicago to present to potential clients . She rented a conference room, but no media tools were available (projector, cords, lasers, etc.). She could have either (1) rented the equipment from a store or (2) carried expensive and breakable equipment from Tampa to Chicago. Of course, she opted to rent the equipment from a store in Chicago due to United’s proneness to break expensive & important stuff. She saved herself the hassle of traveling with it, but ended up paying a premium to a media store for the rental equipment.
Now, with Renters Bay, small businesses can generate revenue by renting out their unused media equipment to people like the woman on the business trip! Or, an individual owner (YOU) can undercut both the media company and the small business to earn extra spending money for your next endeavor! This woman would have preferred to use Renters Bay to find a more reasonable deal and spend the additional time/resources to further concentrate on her presentation.
A wise man once said, “I don’t need a drill, I just need a hole in my wall”. This is a classic philosophical statement that forces us to think outside the box. The need is for a hole, but a hole requires a drill. Renters Bay creates that hole by brokering a drill for the weekend, and at a discounted price! The platform fosters a service economy rather than a producing one.
Collaborate economies are the new era in macroeconomics; leveraging what we have and being environmentally conscious has already lead to many successful business ventures. The producing economy would design, produce, wholesale, and deliver the drill. This causes tons of pollution throughout the product life cycle. THINK ABOUT THE CHILDREN FOR GOD’S SAKE! Our service platform is in the form of a web tool that acts as a broker for rentals. By sharing your stuff with others, you will protect the environment by reducing the production of goods and subsequently, minimize the pollution from the processing, manufacturing, and distribution of products.
The cap and gown rental example is another good illustration of sustainability. Most of the colleges use some of the most high tech and sustainable cap and gowns around. The outfit reuses 23 plastic bottles per cap and gown. Overall, 200,000 plastic bottles are reused per academic year with the use of the sustainable cap and gown sets. By renting a cap and gown from your alumni, you can cut the amount of plastic and emissions generated from the manufacturing process even more!
At USF, we create #Response-a-BULL and innovative solutions, such as Renters Bay, where fellow bulls don’t need to sacrifice experiences in order to be sustainable.
By using Renters Bay, you have the opportunity to generate and enhance your experience by renting other people’s possessions. The platform allows for experimentation and helps protect against buyer’s remorse and post-consumer depression. You can also avoid ownership and excess responsibility during the golden years of your life. Not only can you do these things, but you are also being a responsible consumer and protecting the environment at the same time!
Renters Bay does NOT endorse illegally downloading movies, but does endorse giving you and your friends a platform for awesome experiences, vacations, parties, and even projects around the house.
P.S. For tree huggers, it’s proven that by renting other people’s stuff, you will reduce global emissions and protect your planet!
If you become a member of Renters Bay platform, you can:
Start posting all of your stuff that is collecting dust in your garage, dorm room, or back seat of your car to Renters Bay now!
Welcome to our Renters Bay, the original and only socially responsible platform for a collaborative economy!