The 'Sparetoolz' App Eliminates the Need to Buy New Tools
Michael Hemsworth — May 22, 2019 — Tech
References: sparetoolz & betalist
The 'Sparetoolz' app is a sharing economy solution that will provide consumers with a way to easily access the tools they need on a sporadic basis without the need to buy them outright. Positioned as a rental marketplace for tools, the app works by letting owners of tools rent them out when they aren't using them to make a bit of extra money or perhaps even help to pay for them. This prevents expense tools and equipment from sitting dormant in garages for extended periods, while also allowing DIYers to access them in a low-cost way.
The 'Sparetoolz' app speaks to the rising popularity of rental services as consumers opt to borrow rather than buy larger ticket items to save time and money.
The 'Sparetoolz' app speaks to the rising popularity of rental services as consumers opt to borrow rather than buy larger ticket items to save time and money.
Trend Themes
1. P2P Tool Rental - The rise of P2P tool rental services presents an opportunity for individuals to monetize their unused tools and for consumers to access the tools they need on a sporadic basis without the cost of buying.
2. Sharing Economy - The 'Sparetoolz' app taps into the sharing economy trend by providing a platform for tool owners to rent out their tools, reducing waste and promoting sustainable consumption.
3. Rental Marketplace - The emergence of rental marketplaces like 'Sparetoolz' allows DIYers and consumers to access tools in a cost-effective manner, paving the way for further disruption in the sharing economy.
Industry Implications
1. Tool Rental - The tool rental industry can leverage P2P tool rental apps to expand their reach and offer customers a more flexible and convenient rental experience.
2. Sharing Economy - The sharing economy industry can benefit from the development of apps like 'Sparetoolz' that cater specifically to the rental of tools, encouraging the growth of collaborative consumption.
3. DIY and Home Improvement - The DIY and home improvement industry can capitalize on the rise of P2P tool rental apps to complement their services, making it easier for customers to access the necessary tools for their projects.
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