Breaking with the tradition of rental companies offering new goods on fixed terms, new online marketplace 2ndLease invites everyone to join the sharing economy by listing their own goods to be rented for an income, in doing so creating an affordable and flexible new method for households to access essential goods.
According to 2ndLease founder Alex Brown (pictured), the new site connects the community with the consumer, whilst also addressing the growing problem of E-waste.
“Our vision is to create a community-based, cost-effective alternative to the existing household appliance rental/purchase options, in the process reducing our landfill burden.”
E-waste is the fastest growing type of waste entering the earth via landfills and dumps. 2ndLease is helping reduce the waste burden by promoting the reusing of electrical goods that still have a lot to contribute to our lives.
2ndLease goods include fridges, washing machines, dryers, televisions and sound systems, and range between $10 and $25 per month. All contracts are on a month-to-month basis (two months minimum) to give customers maximum flexibility.
The platform takes a small percentage of each rental payment as management fee.
But there is more to it than just money
Not only does 2ndLease offer owners of second-hand goods the opportunity to get an income from renting their goods, but charities will also get a piece of the action.
“2ndlease hit the ground running with our first goods going out the door in week one. Since then we have continued to grow the customer base while we refine our long-term supply side model.
“An exciting prospect is the opportunity to work with charities to create a new revenue channel for them, as they often receive many goods and appliances they simply can’t accept or use.
“Owners have the choice between keeping the income or directing it to their favourite charity, who often cannot directly accept electrical goods.
“This is part of the magic of our new online rental community. We are providing a new way for the public to donate to charities by unlocking the value in their un-used goods.”
“We have established great relationships in this area and look forward to announcing some key partnerships soon so stay tuned,” Alex said.
What is the story behind 2ndLease?
Alex is a financial analyst in the property and mining/energy sectors with the unfortunate record of two redundancies before 30.
“The latest motivated me to take control of my own destiny and forced my hand in starting 2ndLease. You could say this is my 2ndLease on life.
“Sitting in my friend’s apartment shortly after the most recent retrenchment, he had a bunch of spare appliances which got me thinking. I realised there I had a few pieces at home, so did my folks and surely many other homes across the country.
“A week later there was a story on ABC about how radio rentals made $95 million from people on welfare, I knew then I had a better solution and one where everyone wins.”
2ndLease was launched using Alex’s own funds and from friends and family but he revealed to Anthill that he has held opening talks with certain VC firms and angel investors with the plan to seek a larger round of funding in the lead up to the start-up’s planned expansion and wider launch next year.