tool share / local rental business idea

skintpaul

I'm calling it #LocalTools...


Instead of buying something you may only need once, or paying over the odds to hire from xyz, I was thinking of starting a community tool sharing group, and wondered if it was feasible to make this into business?


Residents list the tools they have (or want to share), and neighbours pay a fixed amount per hour / day, to borrow.


Deposits needed, I guess, unless you know them really well..


whoever buys the tool up front gets a feel good factor, engages with neighbours, and recoups some of their purchase cost..


Everyone could also chip in, for larger items that could be used to benefit the whole area.

droopsnoot

Just to pour cold water on it, what happens when someone breaks a tool, or doesn't bring it back, or when someone hires a tool that breaks or causes them injury?


I know you're hoping for a neighbourly or community feel where people won't do that, and it might well be that everyone who joins in is enthusiastic to start with, but if you've borrowed an engine crane (for example) and it dropped the engine on the path causing damage or injury, you might change your view.


Point is, regular tool hire companies pay insurance for these things, and do maintenance (which costs of course), things that the normal owner might not consider.


I am out of touch with tool hire costs so I can't say whether they're expensive or not, it sounds as if you've done research on that point and if you can get enough people together with the right attitude it could do well. Question is, though, if you're relying on other people to buy the tools and lend them out, where is the business income? Just from the organisation and putting people in touch with the owners?