Are you interested in sharing economy business ideas? Here are some opportunities you should look into.
The global business landscape today has changed drastically. This has seen a corresponding shift in the way people do business. If you wish to cash-in on the opportunity, this article will prove very helpful. Here, we will be discussing the sharing economy.
Ever heard of that? Read on to learn more.
Ultimately, our attention will center on sharing economy business ideas. These are huge business opportunities that have been created due to the current global economic setup.
We are confident that you’ll find these very relevant and useful.
What’s A Sharing Economy?
To help you better understand the topic under discussion, it will be necessary to first explain what’s meant by a sharing economy. A sharing economy is called by several names such as the gig economy, the collaborative economy, or the peer economy among others.
This simply refers to a relationship of exchange where both tangible and intangible products or services are exchanged at scale. With the sharing economy, there’s less transactional friction. This also takes out middlemen from the picture.
A sharing economy is about exchanging resources on demand. This has helped to successfully enhance efficiency.
Some of the many benefits brought about by the gig economy include shared work or office spaces (where different companies or businesses operate from shared office space).
There is also equipment (such as sporting equipment among others) rentals. Under this arrangement, clients don’t need to worry about purchasing equipment especially when they can’t afford it.
Rather, a shared economy makes it possible for them to rent them at a much cheaper rate.
Airbnb and car-sharing among other fairly recent business concepts came about from a shared economy. We must also state the fact that this economic or business concept came about by the rise in technology and the internet.
Profitable Sharing Economy Business Ideas and Opportunities
Having briefly explained the concept of a sharing economy, we’ll now discuss the many business ideas it has brought about. There are tons of these opportunities. Each of these has resulted in multi-billion dollar industries.
And the good news is that you can take advantage of them.
Office Space And Equipment
Office space sharing has increasingly become popular among growing businesses. Today, different businesses can work from within the same building. This has been made possible by property developers who have taken advantage of the changing nature of work.
Not only are office spaces shared, but also equipment. Since we are talking about offices, such equipment will consist of basic office tools such as printers and phones among others. The advantages of shared physical or virtual office space and equipment including significantly cutting down on the budget.
For many businesses and companies, a significant cut in the budget as regards expenses can be the difference between a profit or loss.
, an increasing number of people are working from home as freelancers. You might want to exploit this idea by establishing a shared workspace and equipment business.
Financial Sharing Company
Despite all the support provided by government agencies and financial institutions to small businesses, there’s still much to be desired. A sharing economy business idea you can take advantage of is the creation of a financial sharing company.
What this does essentially is that it brings together peers in need of money and those having the money.
This is done at an affordable interest rate acceptable to both parties.
To make this even more attractive, low service fees and transaction costs are attached. There’s never a shortage of people seeking the services of this sharing economy business idea.
Ever wondered how best to curb food wastage?
The good news is that there are initiatives that have been put in place to take care of that. Food sharing is a part of the sharing economy that connects those having edible foods they want to give away, with those that need them.
A few of these include Leftoverswap, Foodsharing.de, Cropmobster, and Olio among others. You only need to find out how they operate to replicate the same. There’s a lot of food being wasted while a countless number of people starve.
This problem can be stopped in its track through the adoption of far-reaching solutions.
Sporting Goods Rentals
It is a fact that while sporting goods and equipment are a basic part of the fitness and sports industry, not everyone can afford them. Some clients might just need these for limited use while others may not have the capacity to afford the same.
The sporting goods rentals business idea comes to the rescue. You can fill in the demand by opening a rental store that provides all sorts of sporting gear and equipment.
That way, you get to earn recurring profits from continuous rental services while providing the same at cheaper rates to customers.
Car Sharing Service
Also called a ride-sharing service, this allows you to connect car owners having empty seats with passengers in need of a cheaper ride. You’ll need to create an online platform as well as an app to make this possible.
There are existing businesses such as Uber, Bolt, and Lyft; already operating this sharing economy business model.
You too can tap into this opportunity today.
The sharing economy business model also includes jewelry rental.
Under this type of business, you get to rent out your vintage and costly jewelry to clients who are willing to pay.
There are platforms where you can make this happen. On the other hand, you can decide to start your own jewelry rental company.
One effective way to connect businesses with persons having money is through crowdfunding.
This is similar to financial sharing or peer-to-peer lending. Crowdfunding has proven to be quite effective over the years and has helped small businesses raise the needed funding required.
These are a few of the many sharing economy business ideas anyone can exploit today. Before going further with any, a thorough understanding and research of the idea will be required.
Having the required background or experience about a particular idea gives you a significant edge.