Rentoid blog

I had a great chat with one of rentoid’s 30000+  rentreprenuers today, and she had a great story to tell about how she makes even more cash with her stuff on rentoid.

She uses the “would you like fries with that” principle to great effect (and profit!).  Here’s how.

It’s school holidays, and that always means a a spike in demand for Nintendo Wii’s and Sony PlayStation’s.   Our rentrepreneur rents her kids Wii out for cheap $10 a day, or $30 a week, but then offers the “fries” as well.  Wii Fit, Guitar Hero, Games, and an extra controller, each for an extra $10 a week.  She told me that always makes an extra $40 per week during school holidays by renting the extra’s. 

So instead of $30, she doubles (yes, doubles!) her cash by offering all the extra stuff, and setting a realistic base price for the Wii to attract stressed out mums and dad’s.

We think that’s awesome!

So… what could you offer in addition to your existing rentoid items for some extra cash?  Your whipper snipper for an extra $10 when you rent your mower?  Some camping gear when you rent your tent?  Or what about a tri-pod with your camera for a few bucks?  Renting out your ute or trailer?  I bet you can rent some ratchet straps for $5, or a moving trolley for $10.  Even offer a hair drier and straightener as a combo.  You get the idea.

Rental companies do this every day (trust us, we know), and make significant profit in doing so…. and so should you.

If you do offer “fries” and have a similar story to this one, we’d love to feature your story right here on the rentoid blog, so drop us an email, or skype us (we love to talk to our members!)

We’ve had a lot of members talking about prices on rentoid. Questions included, and our answers are beside them:

Why are some people putting up prices which seem a bit greedy?- We’re not sure

What is a fair price for my rental items? See below.

Can you delete items that are too expensive? No we can’t.

Can you control the pricing on rentoid? No we can’t.

Everything on rentoid and put up for rent is decided by the rentoid memebrs not us - That’s simply cause it’s your stuff, your site and so you decide. Fair enough we reckon. Anyway, if something is priced too high, it wont rent out, and you don’t have to rent it. We reckon over time people work out what’s fair and there will be anough of every itme for people to compare prices.

What to price things at?

Well it depends on a few things;

• How often you use it… Some money is better than none on something you’re not using
• How long the item lasts - For example gaming consoles get outdated very quickly, so a lower price makes sense given it won’t be worth much, if anything in a couple of years.

But my humble recommendation for pricing is 10% of it’s value for a week. So like $40-50 for a Nintendo Wii would be an example as they cost about $400 to buy. Also some common sesne ideas like making it cheaper for longer rental periods.

But, it’s your decision!

Steve from rentoid.