According to a story at trendspotter Springwise, Rentcycle is an online platform for rental businesses.
The brainchild of Silicon Valley entrepreneur Tim Hyer, this startup offers web-based hosting and software utilities to help rental companies streamline their business process and improve customer conversion. In addition, the site aims to become a portal for consumers wishing to rent goods or services.
Once registered, companies get a branded online storefront to present their wares, along with reservation systems, inventory management and analytics. Customers can search both by product or provider in their area, and can order and pay for items through Rentcycle. There is also a messaging service delivering reservation reminders and SMS updates on customer inquiries.
While small businesses in many sectors are squeezed out by the economies of scale of their web-based competitors, the market for equipment rentals relies on local outlets. Rentcycle has recognised this, and developed a solution to help those outlets become more efficient and accessible. With sustainability an increasing factor in consumer decisions, the rental market should be on every entrepreneur’s watchlist.
Photo by Rentcycle.