An online platform for renting products and services
Create an online platform dedicated to renting a variety of products and services, including renting equipment, clothing, or even cars. This project will allow users to rent products as needed for a certain period of time without having to buy them, providing them with more affordable options.
The platform will include a wide range of categories that can be rented, such as sports equipment, clothing for special occasions, entertainment equipment, cleaning supplies, and furniture, as well as luxury or regular cars for events or daily commuting. The platform will offer a user-friendly interface with flexible delivery options, making it convenient for users who need a product for a short period of time without having to invest in it permanently.
Study content
Rationale for choosing the project
Growing demand for leasing: In a changing economy, many customers prefer to rent products rather than buy them, providing them with cost savings and using products for short periods of time as needed.
Smart consumption trends: Consumers are increasingly looking for ways to minimize purchase and holding costs, making leasing platforms a preferred option to meet this need.
Flexibility of choice: The platform offers customers the option to rent products for specific occasions, such as weddings, or for temporary needs, helping to effectively fulfill their needs.
Local and GCC market: The market in the GCC region is witnessing a significant growth in leasing at various levels, from car leasing to equipment leasing, which opens the door for significant investment.
Investment advantages
Market growth in the leasing sector: The leasing sector is growing rapidly, as consumers look for lower cost and more flexible solutions, providing a great opportunity for investment.
Opportunity to increase diversity in offerings: The range of leasable products and services can be continuously expanded to meet the needs of different customers, enhancing the project’s ability to attract a wide audience.
High turnover: Since customers will be renting products for short periods of time, the platform will have a high turnover of products, ensuring a quick and recurring return.
Scalability of services: The project can expand its services to include the rental of specialized products such as medical devices, electronic devices, or recreational equipment, among others.
Demand analysis
Growing demand for leasing: As the cost of products in some sectors, such as automobiles and electrical equipment, increases, many individuals and businesses are opting to rent rather than buy.
The rise of temporary events: As more and more social and professional events require specialized equipment or apparel, the need for rental platforms to fulfill these requirements increases.
The spread of technology: With the increasing reliance on the internet, renting products via online platforms is easier than ever before. Technological advancements in payment and delivery systems have also made online platforms a convenient option.
Financial indicators
Capital required: The project needs an initial capital of between 1.5 million and 3 million SAR to develop the online platform, purchase the various products and services required, in addition to the costs of marketing the services.
Internal Rate of Return (IRR): The project is expected to achieve an IRR of between 20% and 30% annually as a result of the growing demand for leasing services.
Capital payback period: The capital is expected to be recovered in 1.5 to 2.5 years, depending on the pace of expansion of services and increase in customer base.
Expected revenue: Annual revenues for the project could range from SAR 3 million to SAR 6 million at the start of operations, with accelerated growth over time.
Features of the project
Access to a wide range of products: The project offers customers access to a wide range of products that they may not be able to purchase, but can easily rent.
Flexible and customizable service: Customers can customize rental periods based on their specific needs, such as renting equipment for a daily or weekly period, allowing them to get the service to suit their needs.
Sustainable business model: Renting products and services promotes economic sustainability by providing products for temporary use rather than permanent consumption, reducing environmental waste.
Ease of use and scalability: The platform can be easily expanded to include more different categories of products and services that can be rented out in the future.
