Currently, there are not many names to list when it comes to music instrument rentals, but things are changing quickly with the increasing demand for P2P music rental platforms.

There are very few options available for such a marketplace. Seems reasonable! But the success of sharing economy will lead to significant demand for these platforms.

SparkPlug, based in Brooklyn, is a leading player in instrument and gear rentals and has proved to be quite successful in managing rental transactions.

If you want to learn more about how a P2P music instrumental sharing platform operates, keep reading below to learn about its business and revenue models.

Equipment Rental Business Model

FATbit Technologies caters to the online music instrument rental marketplace with a well-defined business model. Amid COVID-19, these platforms act as a silver lining.

Online Revenue Model

As an entrepreneur, the question might be arising in your mind that whether p2p rental marketplaces can gather revenue or not? In 2021, a peer-to-peer online music instrument rental business provides countless opportunities.

Below is the list regarding how things will work on such websites: –

  • Musicians scroll through the website for music instruments or gear equipment and look out their budget
  • They choose the rental equipment and mention the booking time duration
  • The website owner receives the rental request and approves after checking out the same
  • Revenue can be generated through commission deductions after 24 hours
  • Equipment is returned to the owner by the renter after the booking period completion
  • Featured or popular instrument section can be included for increasing visibility
  • Not only the commission, but the subscription plan also helps in generating revenue that caters to different requirements of vendors and renters

So, if you are looking to launch an online music instrument rental marketplace, start it with Yo!Rent . To get more details, aspiring entrepreneurs can choose to build a platform with the features listed in our main blog.