What is the Sharing Economy?
Also known as the gig economy or collaborative consumption, the Sharing Economy is an economic structure that allows individuals to share resources with other fellow individuals with the help of an on-line platform.
The Sharing Economy has been around for over a decade now and we can find examples in the likes of Airbnb and Uber, to name a couple.
We will delve into where the sharing economy is now and how much it has grown throughout the years. In this article, we will learn how the sharing economy will look moving forward into the future.
The Sharing Economy’s Persecution: Criticism
Before the sharing economy got to where it is now, it had to go through a ton of skepticism and backlash. Airbnb and Uber, for example, both had to experience lawsuit after lawsuit from government sectors not just in the United States but in other countries as well.
For instance, in 2017, Uber was forced to terminate its services in the Philippines over the case of unregistered drivers.
Airbnb also experienced legal struggles of their own, such as in Australia in 2018 when NSW passed two laws against them.
The Sharing Economy’s Contribution: Benefits
A primary advantage that the sharing economy contributes to is that it allows its consumers to share their extra stuff, vehicles, space, time, services, and talents through peer-to-peer renting and outsourcing platforms.
Participants are thus given the opportunity to earn income their own way and on the other end, enjoy more affordable access to products and services with budget-friendly alternatives.
The sharing economy also allows more flexible options for consumers to choose from, no longer are they restricted to big brands and expensive hotels when they can rent products and rent homes overnight.
This system also opens up leverage for job seekers to be able to find work that is in-line with their skills and career choice and likewise, it helps business owners find employees easier than ever before.
More benefits include contributing to the battle against material waste and creating unity and trust in the communities.
One more idea to keep in mind is that the sharing economy has technically been around for centuries, it was when times were simpler and there weren’t yet any big brands that hindered people from trading and selling with one another their personal belongings and self-cultivated goods.
But, with the help of technology, the public is given yet again an ecosystem wherein independent trade is possible.
It Comes in Different Types
The sharing economy consists of an enterprise of two types; non-profit and commercial.
Platforms that offer free online courses and learning materials are examples of the non-profit side of the sharing economy.
The commercial types of platforms are where companies provide certain services and secondary products to consumers for affordable prices.
Here are a few examples of different kinds of commercial-type services and websites:
- Freelance and Outsourcing – These are platforms that offer freelancers easy access to job applications fitting their specific skills. These sites also allow businesses and companies seamless outsourcing. Upwork and LinkedIn are two of the big examples of freelancing and outsourcing websites. They have been around for a while now and have dominated the online job application industry.
- Peer to Peer Lending – Big names such as Uber and Airbnb fall under this category, but there are definitely others more. Peer-to-peer lending refers to platforms that offer rental services to those looking to make use of the belongings they have lying around their house. It’s a great way to make money and save money at the same time.
- Fashion – Rent the Runway, Dress for Less, and The Black Tux are fashion websites that offer clothing for rent. These places are specially made for those hoping to spend less on high priced clothing brands only for a certain duration.
What does The Sharing Economy look like moving forward?
The sharing economy has been growing exponentially over the years, and it doesn’t show any signs of slowing down. According to an article by Brookings India, people in the sharing economy will possibly be spending $335 billion by 2025 in the United States alone.
Whether we like it or not, our economy is evolving, we could be seeing more services and categories emerge in the times ahead, providing the general consumers a more convenient, accessible, and affordable economic system.
Our platform, My Garage Rentals, also falls under the peer-to-peer category; but we prefer the term neighbor-to-neighbor, which boasts of our aim to build a trustworthy rental community, which allows a more secure and faster transaction for both the renter and the lender.
We are a rental platform that allows almost anything you deem useful to rent, such as handy tools, power tools, sports gear, camera gear, appliances, you name it, My Garage Rentals can rent it!
Sign up now at www.MyGarageRentals.com and take advantage of our rental services! Enjoy easy registration, the security of our $1,000 risk-free guarantee, and more unique features.
You read that title right! And before you go and accuse this blog of being a scam, give it a chance and read on through. You will not regret this informative 3-minute read.
First off, a slight disclaimer, not all items or tools may prove effective with the use of this method. But later in the article, we’ll be giving you examples of tools that will actively work in applying what you’ll learn.
So, let’s get down to the nitty-gritty.
Everybody wants free stuff. But free things are hard to come by these days. While a majority of the world believes in the saying, “nothing in life comes free,” we, on the other hand, beg to differ.
There is indeed a way to get free stuff, and additionally, you can even earn from them over time and still call them your own.
Although this article will focus on one specific kind of tool, you can still take advantage of these steps with other items as well, so read on.
What tools are you buying?
The first thing to do is to determine what kind of tool you’re buying, whether it’s a hand tool or a power tool.
Strategically, you’d buy a tool you know to be useful for something you are working on now and for future projects.
Another thing you’d ideally have to give some thought on is whether the item will be something another person would use occasionally.
There are various kinds of tools homeowners occasionally use but aren’t willing to purchase due to their price, and the usage infrequency relative to that cost.
Think of carpet cleaners for instance. Everybody wants nothing more than to have their carpets cleaned on a regular basis, but most people don’t purchase the cleaner because they only use it once a year.
It’s also good to note that the heavier-duty the item, the better. Let’s take for instance a gas chainsaw; it’s heavy-duty and something a person would need on certain occasions and it’s probably something that most homeowners are not going to want to purchase, again due to the cost relative to the infrequency of use.
Find the best and closest hardware store or visit their website.
The next obvious step is to visit the hardware store of your choice. We would suggest you choose the closest one, just to be on the safe and convenient side.
And if you’re uncomfortable going out in public, for safety and health reasons, you can always opt to visit your favorite hardware store’s website. The best hardware stores often have an official e-commerce website where you can order their products online.
We suggest these well-known hardware stores; Lowe’s, Home Depot, Ace Hardware, and Do it Best, all of which have websites and offer ship-to-home delivery services.
For this method to work effectively, we suggest that you refrain from choosing to buy from hardware stores that vend cheap and less durable products, i.e., Harbor Freight.
Like we mentioned above, you need to consider purchasing more durable products; that way, you’re able to take advantage of the tools much longer and earn more from it over time.
So again, consider the quality of the tool you will be getting. Suggestively, you would purchase an item that costs more on the lines of $200 and above. These are usually much longer-lasting than others.
For the sake of this article, we’re going to use the gas chainsaw as an example.
We can look at this Husqvarna 455 Rancher 20-in 55.5-cc 2-Cycle Gas Chainsaw for instance, which costs $475.99, found at Lowe’s official website.
And before you go complain and say, “I thought you said this was how to get free tools? Why are you telling me to buy then?” Well, we’ll get to that in the following paragraphs.
Put your item up for rent.
Now that you have a new gas chainsaw, the money-making part is putting it up for rent online.
My Garage Rentals is a great peer-to-peer rental platform you can use to put any of your personal belongings up for rent, whether it’s used or brand new.
Registration is easy, and listing your item up for rent is just as simple.
My Garage Rentals allows its users full control over the item’s rental duration; this can come in handy for when you need your tools back during a specific time.
You aren’t only in full control over how much your item will be priced per day, but you also get to choose how much the security deposit will be.
Utilize your item.
And now that you have your chainsaw listed on My Garage Rentals for rent, all that’s left to do is to wait and hope for a customer nibble.
The waiting part is when you use your chainsaw for whatever it is you need it for, and when someone requests it on My Garage Rentals, that’s when you have it prepared for rental and ready to go.
Other types of items.
The best part about this is that it doesn’t have to just be power tools or DIY equipment.
My Garage Rentals caters to any type of item that falls under any type of category, be it a camera, professional audio, sports gear, camping equipment, you name it.
Just make sure that it is something a renter will find useful, or else you may end up unlucky in finding customers.
So, if you’ve been hesitating on buying that heavy-duty tool that you’ve been eyeing for so long, terrified by what was written on the price tag, fret no more!
If you have the money now, I say, “just get it!”
Hardware stores often take tools that cost around $400 in retail and have them rented for $60/day. If you followed this same model on My Garage Rentals, with some patience, you could pay for that tool after renting it out 7 times. Then it will just be pocket money from thereon.Read More
The number of active COVID-19 cases has not ceased from rising and it just keeps ongoing. Because of this, multiple states in the US and countries around the world have now implemented mandates that require residents and business employees to wear face masks in certain settings.
While some are pleased with the regulations, others believe it is a violation of their free rights. Whether you are a face mask skeptic and do not wish to go to work wearing one or you’re just looking for a job that doesn’t require you to have to go outside and risk your health, you might want to consider working from home instead.
We’ve come up with 10 awesome platforms you can have look at to help get you that work-at-home secured experience.
Upwork, Indeed, and Fiverr
Six years ago, digital outsourcing sprung up to the business world like an embryo, and it wasn’t until recently that people started rushing to the web to apply for work. It grew and became one of the fastest ways to hire employees and look for work.
Digital outsourcing gives freelancers a platform to help make working virtually at home possible, as long as you have internet and a computer of course. Upwork, Indeed, and Fiverr are the most well-known websites when it comes to digital outsourcing and job searching.
From start-up businesses to rapidly growing companies, employers from around the globe look to these websites as the go-to platform when it comes to hiring. Being that it is the go-to website for most employers, finding the work that best suits your skills will be nothing but effortless.
Upwork has been online for several years now and over 10,200 employees have taken advantage of Indeed’s services. Like the other two websites, Fiverr also connects businesses with freelancers, offering digital services in 300 plus categories.
Amazon offers a diverse list of job applications, including virtual work that can be done at home. When you visit their website, just head on over to the Virtual Job Listings page and you will see a whole list of job offers posted specially for those in different remote locations.
There is plenty of opportunity on social media, more specifically on Facebook and Instagram. Social Media Influencers who make a living off of social media get their income from merchandise and ad revenue. You will have to work for those followers and viewers first before you can start earning.
Ideally, you will have to first decide who your target audience will be and that will also depend on what kind of content you will be producing. From there, you can build your community as you post content regularly. It may take some time, but with continuous hard work and persistence, you’ll be earning in no time.
Social Media Influencers can consist of livestream gamers, vloggers, product endorsers, models, etc.
My Garage Rentals
I’m sure we’ve all experienced that one-time spending money on something we’ve only used once, just to find it years later all covered up with dust, rust, and cobwebs as we spring-cleaned the attic or the garage. That would be fine if it were only a small tool like a measly hammer or a screwdriver, but what if it were something bigger that cost you a larger sum: like a jackhammer or an auger?
Money wasn’t the only thing wasted here, the time it was just sitting there was a waste in and of itself. What about the canopy, monoblock chairs and tables you use only once or twice a year for a birthday party? And how about that DSLR camera you said would gravitate your career towards photography but only ended up decorating your shelf?
Luckily there is My Garage Rentals, a peer-to-peer rental service platform that seeks to connect communities, allowing them to easily rent out their inventory to those that would rather borrow than buy. This gives your old, barely used things more value than leaving it to just sit in the corner somewhere.
My Garage Rentals is by no means a career, but it’s a great way to make that extra income while being in the safety of your home.
Kickstarter is a great platform to turn your creative ideas into reality. Your creative work is shared with a community that will later fund your project. This platform is perfect for inventors, game makers, and designers, to mention a few.
The awesome thing about Kickstarter is that the creators have full control over how the work is done from the ground up. The donors will not demand any last-minute revisions or require you to show several draft studies. Everything will be up to you, complete and absolute freedom.
As your donors back up your project’s funding and help advertise it, they too become part of your independent project.
Etsy is a global marketplace for original and creative products. If you’re skilled in arts and crafts, miniature sculpting, woodwork, and other do-it-yourself knick-knack skills, Etsy’s services allow you to sell your products here.
This is a great platform to turn your hobbies into a business and help propel you to the top. Etsy connects creators with buyers who prefer products that are handmade with tender loving care and have that human touch that no machine can replicate.
What if we told you that you could earn merely by trying out phone applications? With Featurepoints you can earn by downloading phone apps and submitting feedback. You can also earn by answering certain surveys and watching certain video ads.
You’re even given the option to receive your earnings either by cash or reward points that you can later use for well-known outlets like Nike.
This may not provide a stable income and it is not considered a job or a career by any means, but this can be a good side-line to nab a little extra income while looking for a more stable job.
VoiceBunny is the perfect platform for voice actors to showcase their voice-over talents online. Whether you’re just figuring things out or have already mastered voice acting, VoiceBunny is the site to be.
If you are just starting, it is recommended that you begin with charging small rates for your services at first and then work your way up as you complete more projects along the way.
Voice acting will not at all require you to have to leave your house since all you need to work with is your computer and recording device. VoiceBunny has been around for quite some time now and has proven to be quite a reputable voice-over job-seeking platform.
Just like in social media, earning money on Youtube won’t come easily and there usually aren’t any shortcuts for it either. You will also have to build a community first through the content you post, just like how social media influencers do.
If you work hard at it and remain persistent in posting regularly, your views will eventually increase and the subscribers will follow. Your content will have to be something that will capture a certain type of audience, the goal is to build a community that has a united interest.
Youtubers earn off of merchandise revenue and ad revenue. Youtube requires you to reach 1,000 subscribers and 4,000 total hours viewed before your videos are allowed to generate ads.
Twitch is a live-streaming website. Twitch is widely popular with video game enthusiasts as it was designed to provide gamers a platform. So, if you’re quite a skilled gamer, this might just be the workplace for you.
Just like Youtube and social media, you need to plan first who your ideal target audience will be and what genre of gaming you plan to stream. There is usually a different audience for each video game genre, so it’s important to keep in mind what type of games you will invest in.
Twitch streamers earn money through subscriber donations, merchandise, and ad revenue.
Whether we like it or not, we’re living in a new normal and that entails a new way of working. Not everyone was blessed enough to keep their physical work but we’re all blessed to be living in the age of the internet.
These websites are just some of the countless ways you can earn a living online and in the security of your home. We hope that you find the platform that best serves your preference for work.
Snowboards and Skis
Winter is almost here. For some people this is exciting while for others it is dreadful. Some love the cold while some hate it. Either way you look at it for those of you living in the mountains or anywhere near the slopes it offers a great opportunity to earn some extra money. In the 2016 to 2017 season over 24 million Americans participated in winter sports. This is a huge opportunity if you happen to live in the snow. So why not take advantage of it? Let’s take a look at one aspect of it. How can you do this?
If you own a pair of skis or a snowboard that you don’t use on a daily basis you can select the days or weeks you will not be on the slopes and rent them out. Rental prices can vary a lot from $30 to $90 a day depending on the location of the rental, length of use, and whether or not it is the latest and greatest piece of equipment. Why not take advantage of that! Rent to a person who will be on the slopes for a few days and you will make a nice little chunk from a piece of equipment you already have and that is just going to be sitting around.
If you buy the latest and greatest every year you could rent out your old ones. This may even pay for your new ones!
Or if you really want to get into it you could buy a multiple pairs of skis and snowboards and use those for your rentals.
You could rent them out depending on the renters stay. Depending on your rental price they should be able to pay for themselves after just a few rentals! Now you will either have yourself some fully paid for skis or you can just simply keep increasing your profit. You don’t have all the overhead costs that the resorts or stores have so a much larger percentage goes toward your pocket!