Rental is quickly becoming the new ‘buy.’ Ownership of everything from housing, furniture, and countless other home appliances is no longer considered necessary. More people are indeed on the move these days than at any time in the past. The Rent, use, and return approach certainly seem more suited to the modern lifestyle. The cost to the environment is another factor that favors the rental model; collective usage is the key to optimum resource utilization.
The surge of the rental economy has led to a proliferation of online rental marketplace across diverse business verticals. Online marketplaces are digitally sourced, self-service environments that provide a common platform for multiple vendors to connect with their customers.
Some of the best examples of rental marketplaces are Cort for furniture rental, Turo for P2P car rental, and Rent the Runway for clothes rental. For entrepreneurs wanting to replicate the said marketplaces in their niche, the process can be both time and cost-intensive. However, many ready-made online marketplace platforms can significantly slash that cost and time. Let’s take a look at the top five such solutions and how they stack up against each other:
Yo! Rent is a white-label rental marketplace software developed by FATbit Technologies. Its feature catalog is quite impressive considering its affordability and flexible payment options. Yo! Rent’s capabilities extend to renting, selling, and both multi-vendor and single-vendor support. It is available in both ready-to-use and custom development options with exclusive rights to the design in the latter. The software comes with a lifetime license at a one-time cost with no recurring payments. Yo! Rent has also developed a free of cost, full-fledged demo for the buyers.
Renting & Selling
Smart Review Management
Multiple Revenue Channels
Real-Time Inventory Management
Type: Small, Medium & Large Sized Business
Business Model: B2B, B2C, P2P
Unlimited listing of products and services
Fully customizable with exclusive rights to custom design
Free Technical Support for 1 Year
Available at a one-time purchase with no recurring payments
Pricing: Starting @ $999 with flexible payment options. (30 days money-back guarantee)
Clients: Gearflow, RENT FOR ALL
Demo: Free Demo Available: https://demo.yo-rent.com/
Sharetribe is a reliable platform for launching a Peer to Peer online storefront. It is a self-hosted ready-to-use solution that does not require any download or installation. First-time customers can also visit its help center to find setup assistance. Sharetribe is a SaaS application that does not call for explicit programming to conduct rental business operations.
Founded in 2011
Built-in payment systems
Global Payment Option
Types: Small Business & Medium Size Business SV & MV
Business Model: Sharetribe is a C2C (customer to customer), B2B (Business to Business), B2C (Business to Customer) marketplace platform.
Ease of use
Flexible payment options
Pricing: Starting package @79/month
Key Clients: WheelPrice, Fittcoach, Canon
Demo: 30 days free trial
#3. About Arcadier:
Arcadier is a rental marketplace platform that offers subscription-based web applications. It is loaded with all the essential features for renting and selling products. On purchasing, the buyer gets four default themes to choose from along with the full customization option. For extended functionality, buyers can also install third-party plugins from the Arcadier’s plugin marketplace.
Located in Singapore
Type: Small, medium & large
Business Model: B2B, B2C, P2P marketplace platform
Available in 4 default themes and also fully customizable
No transaction fee
Pricing: Starting at $69 month/user
Key Clients: Kinly, Snap Squad
Demo: 30 days free trial.
Genstore is a robust rental marketplace software that is based on Node JS. It comes with a mobile application with the Facebook Messenger Bot pre-installed. Genstore’s impressive features range from multiple revenue sources to automated management options. Like Yo!Rent, Genstore is also available at a reasonable one-time payment.
Types: Small, Medium, and Large-sized businesses
Business Model: B2B, B2C, C2C
Facebook Messenger bot pre-installed in mobile application
Includes intellectual property rights
24/7 live chat support
Pricing: $999 one-time payment
Key Clients: Gappers, Bridalope
Demo: Free Demo
ExlCart has a responsive layout and a feature-rich admin panel. It supports unlimited vendors and is available at an aggressive one-time payment. For more features, the buyer can opt for its premium development plan that comes with native apps for iOS and Android. ExlCart also provides a free demo to its customers.
Type: Small to medium size business
Business Model: B2B and B2C marketplace.
Flexible payment plans
Includes source code
Includes native mobile apps
Pricing: Starting@$399 one-time payment
Key Clients: Sleepyhead, Spirits4u, Fashionworld
Demo: Free Trial
Purchasing a full-fledged marketplace solution eliminates the need to develop one from scratch. It saves resources on rigorous data collection and explicit programming. However, making the final call should include the pitching of various factors like the hosting, the used technology stack, customization options, and the availability of mobile apps. Free demos should be used to test the features and functionality of marketplace software.