How to Launch a Business in the Sharing Economy

Photo credit: Ken Teegardin via Flickr
Photo credit: Ken Teegardin via Flickr

Share businesses are businesses that are conceptualized around the sharing economy. The sharing economy on the other hand is made up of peer-to-peer businesses and works on a concept wherein the collaborative consumption is beneficial for parties.

A perfect example would be UBER and AirBnb.  Both companies earns from commissions from the revenues that their drivers or property owners get from their consumers. UBER and AirBnb provide the platform while several individuals offers the product or service open to the public.

With these two companies in mind, it is not a surprise to see a growing interest in the sharing business after seeing how far these companies have already reached. According to recent studies, a total of 68% of the population would consider sharing their assets to earn money while a total of 66% would want to shell out their money to experience a certain service or to be able to use someone else’s property. However, launching a new business with the same system in a different niche takes times to attract buyers and sellers.

However, we manage to get a few ideas on where you can enter the sharing economy. With home phone and internet bundles at CompareBroadband at home, you can actually be the next tycoon in the sharing business market.

Jewelries and attire

If you have a closet full of clothes that no longer fit or was never really your style, you can sell them out via Vinted.com. This is like your local consignment boutique on the web. The site charges a certain amount of fee for selling an item but you can use their services for free when you swap clothes with other users. This is a great place for budget conscious yet fashion savvy individuals.

Sports Supplies

Spinlister allows users to connect with sports equipment owner in their region. They also offer up to $10,000 guarantee to the equipment owner in the event that your items are damaged, lost or stolen. This can be a great place to score skiing or surfing gears you can use over the weekend if you can’t still afford to buy one or to rent out your sporting equipment lying around your garage.

Errands and Housekeeping

Taskrabbit.com exists to lift the burden over people who are overworked. If you see yourself not having time to go shopping for groceries, Task Rabbit can get someone to do the task for you for a fee. Same goes with housekeeping and other organizational requirements.

The bottom line really in this situation is to discover a need or want that your company can satisfy with the help of a pool of interested people willing to provide the product or service to others. Managing the business and building your brand as a trustworthy one is another aspect you should work out on as well.

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