Kindershare

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Kindershare lets parents earn money by renting out your unused children's equipment on Kindershare - items like car seats, yoyo prams, travel cots, bassinets etc that are purchased, and used for a few months, then stored for 2 years until the second baby. We provide free listing and offer insurance and a guarantee in exchange for a small fee on completed transactions.
Kindershare also lets parents hire a travel pram, cot or other equipment from a local family, helping them to save money.

How the this idea will be delivered

Kindershare is a platform connecting owners and renters of children’s equipment. It trades on the current trend of collaborative consumption, using technology to provide temporary access to goods. It allows new parents to provide the best for their children in an environmentally sustainable way, and allows both owners and renters to establish new social connections with people in their local area. Items to be rented will include travel cots, travel prams, basinets, and other items that are used for only short periods over a child’s life.

Kindershare creates value to both owners and renters of children’s equipment and helps parents acquire premium baby goods cheaply. Both owners and renters are able to reduce their impact on the environment and establish new social connections, which are critical for families with young children who can feel isolated. Kindershare will allow owners and renters to search for items in their local area, and provide ratings on both owners and renters. Kindershare will only earn revenue when connections are made between owners and renters by collecting a service fee (as a percentage of the listed price) once a rental is in place.

Kindershare provides owners:
- Free listing of items;
- Public liability cover for Kindershare and owners; and
- 75% replacement cost in case of damage or loss
in exchange for a 13% commission on completed transactions only.

Customers will be drawn to Kindershare over informal rental agreements as Kindershare will offer liability insurance coverage, and payment towards replacement cost if the items are damaged. An online portal payment saves worry over carrying cash. The ratings system will mean owners are incentivised to ensure they only rent out high quality goods, and renters are incentivised to take care of items to attract a high rating.

The number of successful connections on Kindershare are dependent on two key factors – product range (including location) and product price. Kindershare will need to provide guidance to owners to ensure their listed prices are lower than competitors (such as second hand purchasing). Kindershare will need to find the balance between maximising connections and also maximising commissions.

Kindershare will also become the leading platform to allow people looking to purchase items to ‘try before they buy’, ensuring the items they acquire meets their family’s needs.

The long term vision for success is three-fold:
1. Families would be able to travel lightly, knowing high quality children’s equipment were waiting for them once they arrived. This would occur both within Australia, and internationally.
2. Families no longer feel the need to acquire items such as basinets and bouncers that are used for a few weeks or months as they will be able to easily rent them.
3. Kindershare will also become the leading platform to allow people looking to purchase items to ‘try before they buy’, ensuring the items they acquire meets their family’s needs.

Idea Testing:

The idea has been tested through surveys with approximately 50 potential customers, 97% of which said they would recommend the concept to other families. Face to face and instant messaging discussions have been held with parents who both own items that can be rented, and families who would consider renting, and their feedback has helped shape the existing product. Finally, the potential for paying customers was established by listing a number of my items on Gumtree and seeing the demand for the goods.

From this feedback an MVP was developed, which is currently live at https://kindershare.com

Opportunities to scale:

The platform will be tested and gain momentum in within Sydney. One there is momentum, the business will be ready to scale across Australia, rolling out in one geography at a time to gain critical mass and maximising the number of connections being made.

The model is easily replicable, with minor modifications required in each country to deal with local child safety standards. I aim for Kindershare to eventually roll out internationally, allowing for example, someone to book a holiday to Los Angeles, and know their cot, high chair and car seat will be waiting for them when they arrive.

A key feature to help grow the business would be to include a “I am looking for a X” button – a reverse marketplace system that would send out a message to registered users in their local area, encouraging them to add more items to the website.

How this idea will create value

Currently parents have only a few options when having children – they can either buy new items, buy second hand items, or rent them from existing B2C companies. When the items are no longer in use (either temporarily or once they have stopped having children), the only options available are storage in increasingly cramped houses, passing onto family and friends or selling on second hand websites.

Owners are people seeking to declutter their house and earn money from idle equipment, likely in between children or temporarily not needing items. Many would not be aware of potential to earn revenue on items and would traditionally store them until they are needed again. Kindershare would allow them to ‘unlock’ that value and earn money from items not currently in use.

Renters need items for a short period of time and, with increasing house prices, have little space to store equipment that is rarely used. Renters will be those needing items on a temporary basis. Many people buy items that are only used for short periods because they are unaware of rental options. Additionally, those travelling are unaware of the many options to make travel with children easier, taking ‘half the house’ with them. Marketing to new parents and traveling families would allow connections to take place and earn revenue both for themselves, and for Kindershare.

Items would be rented for use at home, or for travel, both locally and eventually in travel destinations. Both owners and renters are also interested in establishing social connections.

How this will benefit South Australia

While the idea behind Kindershare was developed in Sydney, I intend for Kindershare to be rolled out across Australia. South Australia is an ideal test and launch market given its size, high proportion of family-based households and population concentrated around Adelaide and surrounds.

While there are approx. 20 children’s items listed for hire in South Australia on Gumtree, owners are not aware that they are exposing themselves to public liability risk if a child is injured while using the site. Kindershare’s insurance covers both Kindershare and the owners, providing reduced risk for a low cost for South Australians who wish to take part.

In addition to the benefits described above, Kindershare would help make it easier for the approximately 1.67 million visitors with children below 5 that visit South Australia each year by allowing them to travel light and meet local families when they arrive. It will also provide a social benefit to local families who are travelling, by allowing them to rent compact travel prams to take with them interstate or overseas.

Finalist

Voting has now closed. Stay tuned for the results!

Organisation details

Submitted by Kindershare

About Kindershare

Connecting owners and renters of children's equipment - items like prams, travel cots, car seats. Why buy when you can rent.