SpokeSwap aims to provide a money-making opportunity for owners and lower prices for renters.
For locals requiring short-term use of tools or equipment they don’t own, we’ve already seen NeighborGoods offer a peer-to-peer rental platform. Doing the same thing for audio and visual equipment, SpokeSwap, provides a money-making opportunity for owners and lower prices for renters. SpokeSwap initially started life with a focus on bike rentals, hoping to capture a market who couldn’t afford to buy their own bicycle for short trips. While city-led bike lease schemes have become a popular way for commuters to regularly cycle without ownership, the founders of SpokeSwap found it difficult to create interest in a peer-to-peer version. They decided to take a change of direction and sourced some video projectors on the site – garnering more success thanks to the high initial cost involved in ownership of the items and their usefulness in one-off events. Owners are now encouraged to list their available equipment, with three to five photos and a rental cost. Visitors can then search the site, schedule a pickup and return and take advantage of prices cheaper than rental shops. They also benefit from connecting with other members of their local community. SpokeSwap hopes to continue focusing on audio-visual equipment, potentially opening up into other areas in the near future. Are there other markets that could benefit from local peer-to-peer sharing?