New Australian website Open Shed allows people to rent out or hire goods from people registered to the service.
Items for hire on the site include a Nikon D3100 camera, which costs about $1,200 to purchase outright, but is available on Open Shed for $25 a day.
Open Shed founder Lisa Fox says the idea came to her after hearing about the concept of collaborative consumption.
According to Fox, the site taps into a global mindset where many people feel they have “too much stuff”.
Fox says many people help out friends by lending them items, but the site takes this sentiment to another level.
Open Shed uses a bond system in case goods are damaged, with payments via PayPal, and it allows people to post feedback. It is free to list items but renters must pay a 6% surcharge.
Given the rate at which consumers are saving their money, rental services could represent a new retail model. Why not take inspiration from Open Shed?