Why the Sharing Economy is Great for Everyone!
What the Sharing Economy Is
In a sharing economy, instead of everyone buying their own goods and services, they can rent or hire these goods and services from others. For example, instead of buying a very expensive piece of camera equipment for one photoshoot, a photographer might rent the equipment they need for a day. Ride-sharing platforms like Uber and Lyft are another example. Car owners can provide others with rides and earn money from the service they are providing.
In the sharing economy, consumers don’t have to purchase items or services from large corporations. Instead, they work with other individuals to buy and sell goods and services. Right now, the sharing economy is a fast-growing trend that has spread all across the globe. You can find traces of it in just about every industry!
How the Sharing Economy Works
In the sharing economy, people can:
· Monetize assets that they are not fully utilizing
· Rent or borrow goods instead of buying/owning them.
Often, there’s a platform like an app or website acting as the middleman between the two individuals.
Why Rent Instead of Buy?
· It’s better for the earth
Right now, we should be more conscious than ever of how we are affecting the planet. As humans on planet Earth, we are constantly causing pollution and producing waste. If we want to continue to have a clean and beautiful planet, we need to stop! Buying too many things (and subsequently throwing them away) is bad for the planet, but sharing items is a smart choice!
· It’s less expensive
If you only need an item for a few hours or a few days, you may find it far less expensive to borrow instead of buy. Some electronics and other products are prohibitively expensive for the average person, but they may be able to be rented for a price as low as $15 per day. This opens up new possibilities for those who are on a budget!
· It’s great for traveling
If you’re going to a new place and you’re unable to bring all the gear you need, renting is great! It allows you to borrow items at your destination instead of worrying about traveling with all your gear. For example, parents can rent a stroller at their vacation destination instead of taking one on the plane. Campers can rent outdoor gear from another outdoor enthusiast who isn’t using their gear at the moment. It is a win-win for everyone!
· It allows you to try new things
Perhaps you’re unable to buy your own kayak, telescope, or mountain bike. But you can rent one for an affordable daily price, and you don’t have to worry about storing it in your tiny apartment! Trying out gear or equipment by renting or borrowing is a wonderful way to explore new hobbies and gain new experiences.
What Can You Rent?
From vehicles to electronics to clothes and more, there are so many options for borrowing instead of buying. Even better, if you have items that you’re willing to lend to others, you can make money renting your own belongings out to others!
