Looking to launch an online rental website for my UAE based heavy construction equipment rental business, please suggest a best possible solution for me.
I think it is possible to launch a rental eCommerce store for construction equipment business but it is not that simple. It depends on the approach you take. Not many people are aware of this but there are some rental marketplace solutions already available in the global market that can be used to launch online rental stores.In UAE, launching an online rental store for heavy equipment is a lucrative idea considering the increased construction activities in the region and 3.3% CAGR of the heavy equipment rental industry in 2018-2024.
When you create a website from scratch, especially for a unique type of business like a rental ecommerce store, it requires advance planning, including finding a feasible business model and developing an MVP. On the flip side, the benefit of ready-made marketplace solutions is that their feasibility is already proven. They don’t require excessive research and resources and limit the business establishment journey to a mere sell and buy transaction (that’s if you don’t require customization).
The business model of a construction equipment rental store would be something like:
- A visitor adds your equipment to the cart
- Selects the rent duration and pays rent + security deposit
- Returns the equipment after using
- You deduct the damage amount from security and return the money
I did a little research to educate myself better and found a company that is doing the same thing you are looking for. Tenderd is UAE-based company that deals in construction equipment. It does not sell the equipment but only lends. Tendered was launched in 2018 and was able to raise $5.8 million seed funding with more 3000 equipment to rent within a year of its launch.
If Tenderd fascinates you then Investing in a white-labelled rental marketplace solution(https://www.yo-rent.com/) and rebranding it is a very reasonable option to get started with your online construction equipment rental business. It also comes with the following benefits to resolve various pain points of a business owner:
* They improve your online visibility, do branding, and build trust
* Provide access to a larger audience promoting long distance business operations
* Streamline payment processing and management via third-party integrations
* Increase price transparency facilitating a competitive advantage for the marketplace owner
* Provide passive income streams like PPC ad campaigns, paid featured banners, affiliate marketing and monthly subscriptions
* Easy to market via social media channels, Search Engine Optimization, and email newsletters
Hope you liked my answer.