Once again, erento’s business idea found attention in the media. A few days ago, businessweek published a two-page report, headlined
“Tough Times? Rent, Don’t Buy, with Erento.
Call it an eBay for rentals: Germany’s erento lets you borrow everything from wedding dresses and pets to karaoke machines.”
Nowadays it is financially much harder to own luxuries such as Ferraris or designer handbags. Even wearing jewellery for one special night is getting unaffordable over time. More and more people have already found a solution:
“Short-term rental of all sorts of products (excluding real estate and holiday apartments) already represents an estimated €108 billion ($160 billion) annual market in Europe.”
And the figures are constantly rising.
Businessmen know: the key to success in the rental sector is findability. Especially the internet as information source got extremely important over the past few years. Since many suppliers can’t afford or do not have the know-how to build sophisticated e-commerce and websites, prospective clients often struggle to find what they need.
That is where erento comes in. As the online marketplace for rental items it is the most rapidly expanding sales channel in Europe. Marc Samwer of European Founder Fund, which probed the market before investing, agrees that erento’s approach is unique. “There is no other company in the U.S. or the [European Union] with a liquid marketplace of this kind,” he says.
European attitudes about cars also have evolved. Five years ago, somebody who wanted a convertible would buy one. But now more people are concluding that they really need a convertible only when the weather is good and they can drive with the top down. Ford Mustang rentals in Europe have tripled in the past year, while convertible rentals are up 120%, Ferrari rentals are up 102%, and motorbike rentals are up 85%.
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Moreover, while originally intended to bring rental businesses and customers together under one roof, erento now enables anyone to become a rental supplier.
Read the full article on www.businessweek.com.
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