karam Mangat's profile

Business Model of Renting and Selling Marketplace

Business Model of Renting and Selling Marketplace
The online renting and selling marketplace is a common platform for owners to rent out their personal products and lenders to rent those products. The product owner can rent out equipment, dresses, gears, electronics depending on the market trends. Here’s how things work on the online rental marketplace:
Product owners list their products with original photos.
Price can be adjusted as per the dates and product value.
The product renter (lender) can browse listed products based on the hourly/weekly/monthly rent rates.
Select the desired product from list of products. Rent the product for a specific period of time depending on the amount of money is calculated.
Then marketplace sends the booking request to the owner and the owner has to approve the request.
After 24 hours of reservation, the owner gets their money through the website, from which the commission is cut.
At the end of the reservation period, the renter returns the product to the owner.
Also, the renter can search the products based on their location and view the availability of that product in their locality.
Business Model of Renting and Selling Marketplace
Published:

Business Model of Renting and Selling Marketplace

Published:

Creative Fields