Empowering the growth of rental economy

by Akseli Lehtonen

10 March 2020
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Why rental shops invest significant sums of money in equipment based on feeling instead of data and numbers?

Why so often these rental shops don't have an online booking system in the time where e-commerce is growing double digits every year?

Well, many rental shops are still running their operations with age old but battle tested combo of pen and paper. In this situations, data-driven business development and online sales are simply out of question.

Fixing the big and small picture 

To solve these problems and help the whole rental industry to modernise itself, one would need modern digital tools. At Rentle, we work daily developing better solutions to support the whole rental industry. This means:

  1. Making renting more profitable as a business model by removing friction from the internal operations and automating the manual jobs.
  2. Developing better rental experiences for consumers by supporting faster, easier, and more convenient rentals. We're building a world, where renting is truly competitive way of consuming and people could consider if they didn't have to own their gear.

Renting is sustainable and efficient way to consume and experience e.g. sports. Non-ownership is a growing trend and that rental shops represent the future of the trend. Still, before the popularity can start growing exponentially, the conveniency must first match the the traditional retail for both, the shop owner and the consumer, online and in store.

Easing the everyday life in the rental shops

With a cloud-based rental software, Rentle modernises the operations of equipment rental companies. Many recreational rental shops and adventure service companies are still operating with pen and paper, are not accepting online bookings, and the operation is run without clear data-driven insight.

For those who are unfamiliar with the rental industry the current methods of running business might seem outdated but are often the best available solution. Many of the modern digital tools have been built for traditional "selling as a business model"- oriented retail which everyone, who has worked in the rental industry, knows is a completely different mindset.

Rental operations are much more complicated entity than the traditional retail for example in terms of inventory management, resource scheduling, and contractuality caused by rental contracts. Hence, the tools designed for classic retail are not suitable - or at least far from optimal - for rental businesses.

Modern tools mean that rental companies this means improving efficiency through automation and growing sales through online rentals. The end-user sees the difference in more convenient and better consumer experience.

Creating value for businesses and consumers

Companies that rent out equipment for consumers will surely benefit from a rental software. Streamlining the everyday work in rental shops enables the utilisation of data and offers tools to improve the customer experience. The digital sales channels commit consumers earlier and make the purchase decision less dependent for example on the weather conditions and other external variables rental shops can’t control.

Consumers will see the benefits of the improved internal processes as better user experience - for example as shorter queuing times in the shop. The possibility to rent online also enables consumers to make purchase decisions in advance which eliminates the risk of low availability especially during the high season.

Helping equipment rental companies to scale up

Our most important goal is to help our customers to grow their business and improve their profit margins. Already, it has been promising to see how our customers have been able to show impressive growth numbers in terms of average purchase size and the amount of online sales.

We have put a huge amount of work in the design of Rentle and brought the tools and proven strategies from the world of e-commerce available for rental businesses in an easily accessible package.

We are here to modernise the equipment rental industry. If you find this interesting and want to stay updated of what's happening in the world of renting, subscribe to our blog and newsletter below.

Akseli Lehtonen



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