Examples of Sharing Economy Business Ideas If becoming part of the sharing economy interests you, here are ten examples of sharing economy business ideas you can learn from.
You're reading Entrepreneur South Africa, an international franchise of Entrepreneur Media.
The sharing economy continues to grow in high demand as consumers look for more cost-effective ways to fund, purchase and find items. You can launch anything from a jewellery rental business to an errand running platform.
Before you start here are 10 examples of sharing economy business ideas you can learn strategies from:
1. Jewellery Rental
Do you love the idea of offering beautiful jewellery to anyone by renting it out? Then this could be the sharing economy business idea for you. Before you start investing in expensive pieces of jewellery, here is an example of a sharing economy business that you can gain insights from:
Business Name: The Folly Boutique
Website: https://thefollyboutique.com/
Established Date: 2013
About the business:
The Folly Boutique is a place for brides to find something a little different in costume and statement jewellery. They showcase a huge selection of handpicked designers ranging from the relatively unknown to the veterans of the fashion jewellery world.
Innovative business offering
In addition to their large offering of wedding jewellery, The Folly Boutique also offers jewellery for other events, and offer the ability for their clients to rent or buy their pieces.
2. Flexible, Shareable Workspaces
Do you like the idea of creating a hub of creative, business activity? Then this could be the sharing economy business idea for you.
Related: A Free Business Plan Example to Launch Your South African Business
Before you start investing in property, here is an example of a sharing economy business you can gain strategies from:
Business Name: The Business Exchange
Website: https://www.tbeafrica.com/
Established Date: 2014
About the business:
The Business Exchange aims to create a professional workspace that inspires success in every member through special design and community collaboration. They have multiple upmarket buildings, chosen to support their clients in their pursuit of excellence.
Innovative business offering
In addition to flexible workspaces, The Business Exchange also offers state-of-the-art technology to enable high productivity and seamless connectivity.
3. Attire Buy, Sell And Swap
There are men and women across the country with cupboards and wardrobes full of clothing they don't like anymore, that doesn't fit anymore, or they've never worn. If you like the idea of starting a platform where people can buy, sell and swap clothing, then this could be the sharing economy business idea for you.
Before you start gathering your second-hand clothing, here is an example of a sharing economy business you can learn from:
Business Name: SwapMamas
Website: https://www.swapmamas.com/
About the business:
SwapMamas is a platform for moms to swap, buy or sell their clothing. They also offer an environmentally conscious community for their clients to explore.
Innovative business offering
In addition to being a platform for moms to swap, buy or sell their clothing, SwapMamas also sells everything from houseware to handmade, for kids and grown-ups.
4. Carpooling Marketplace
If you like the idea of offering working people the opportunity to save money and meet new people on their daily commute, then this could be the sharing economy business idea for you.
Before you start creating the platform, here is an example of a sharing economy business that you can gain insights from:
Business Name: BlaBla Car
Website: https://www.blablacar.co.uk/
About the business:
BlaBla Car is a ridesharing service that connects drivers with empty seats to people looking for a ride. This concepts assists both drivers in supplementing their trips and passengers in finding a cheaper more environmentally-friendly way of getting to where they need to go.
Related: The Ultimate 101 List Of SA Business Ideas To Get You Started
Innovative business offering
Customers enter their departure and arrival destinations and times, then choose a driver that's headed in their direction.
5. Sporting Goods Rentals
Do you love sports? Then this could be the sharing economy business idea for you. Not everyone can afford to buy sports equipment, especially if they don't use it regularly. This is where you come in, you can rent out sporting equipment for those who can't afford to buy them.
Before you start stockpiling sporting equipment, here is an example of a sharing economy business you can gain insights from:
Business Name: Sharewood
Website: https://sharewood.io/en
About the business:
Sharewood aims to give a chance to their customers to cultivate a passion for outdoor sports. They offer bike rentals, water sport equipment rentals and snow sport equipment rentals.
Innovative business offering
In addition to renting out outdoor sport equipment, Sharewood also offer experiences for their outdoor enthusiastic customers. They offer expeditions, tours and lessons in outdoor activities.
6. Peer-to-peer technology lending service
Not everyone can afford to purchase technology, and some only need specialised technology for a short-term project. If you like the idea of operating a lending service for technology, this could be the sharing economy business idea for you.
Before you start investing in technology, here is an example of a sharing economy business you can gain strategies from:
Business Name: Go Rentals
Website: http://www.gorentals.co.za/
About the business:
Go Rentals offers short-term, month-to-month and long-term rental options. They also offer products and services such as 3g data, technical services, theft and damage waivers.
Innovative business offering
In addition to their wide variety of products and value-added services and products, Go Rental also offer rental finance options, and additional services such as logistics, warranty assurance, asset management and more.
7. Parking space rental platforms
In busy areas, parking can be in high demand. If solving this solution is interesting to you, you can launch your own sharing economy platform for parking space rentals.
Related: 25 Of The Most Successful Business Ideas In South Africa
Before you launch your product, here is an example of a sharing economy business you can gain insights from:
Business Name: ParqEx
Website: https://www.parqex.com/
About the business:
ParqEx is a private parking marketplace that connects owners of underutilised parking spaces with drivers looking for parking. They list parking spaces owned by local residents and businesses for driver's convenience.
Innovative business offering
In addition to the private parking marketplace, ParqEx also offers commercial parking solutions by assisting builders, developers, property managers, multifamily buildings, enforcement and security with parking solutions to increase revenue and decrease driver frustration and inconvenience.
8. Education sharing platforms
Do you like the idea of sharing knowledge and education amongst a community? Then this could be the sharing economy business for you. Before you start curating your platform, here is an example of a sharing economy business you can gain insights from:
Business Name: Udemy
Website: https://www.udemy.com/
About the business:
Udemy is a marketplace where teachers from around the world can offer their knowledge and expertise to students. They offer courses in over 50 languages on practically any topic.
Innovative business offering
In addition to offering a marketplace, their experts also stay active in their fields, which allows them to deliver the most up-to-date content.
9. Peer-to-Peer Bike-Sharing Start-up
If you like the idea of increasing the number of bicycles on the road by creating a marketplace that enables bike-sharing, then this could be the sharing economy business idea for you. This platform would allow bike owners to rent out their bicycles to others.
Related: 20 Innovative Business Ideas Doing Well Overseas (That Could Make You Money In SA)
Here is an example of a sharing economy business you can gain some strategies from before you launch your own business:
Business Name: Joyride
Website: https://www.joyride.city/
Established Date: 2015
About the business:
Joyride provides a mobile app and backend solution to its clients that help them find customers, manage their bicycles and process payments. They also have third party smart lock integration that ensure the bicycles are GPS locatable.
Innovative business offering
In addition to offering a bicycle sharing platform, Joyride has also expanded into scooters.
10. Errand running platform
Do you want to help people make extra money running errands? Then this could be the sharing economy business idea for you. Before you launch your new platform/app here is an example of a sharing economy business that you can gain strategies from:
Business Name: TaskRabbit
Website: https://www.taskrabbit.com/
About the business:
TaskRabbit offers a platform where customers and errand runners can meet. This ensures that clients get their tasks done, while the taskrabbits earn money completing the tasks.
Innovative business offering
In addition to offering a platform for clients and taskers to meet, TaskRabbit also offers to connect clients with skilled services, such as handyman services, personal assistants, painters, installations and organising services.
Related: Your Free Business Idea Evaluation SWOT Analysis Template
