Rentit

Some people have the bulk machinery or items that they don't necessarily use. Some don't have enough resources to purchase the equipment or unnecessary since its needed temporarily.The problem in our country is that lack of reliable platforms where both parties can come to an agreement and ease their lives.

The solution we are proposing is a platform where individuals can communicate with each other. Users can rent items for a limited time and charge depending on the item and duration. It's a space where everyone will be benefited

Numerous machinery and equipment go to waste by not being used. The people who have these equipment  are unaware that there are people who'd use them due to lack of communication. They assume that their purchases have gone in vain. Simultaneously, the people who are looking for these equipment, aren't aware that there are people willing to rent it.

The scale of problems is high.It is prevalent in so many fields.
For instance, some individuals need a projector for only a week but they don't have enough monetary support to afford them. It'd be easier for them to rent it.It's also prevalent in the music business. Sometimes an equipment like an amplifier gets out of order and to get a new one will take weeks.The performer needs it on a short notice for his/her show, so he/she rents an amp for the time being.Therefore, time and money saved

Millions of people are affected specially in the middle class to lower class people where they can't afford to buy necessary items but have enough money to rent. On the other hand, they can make some money. At least 40 million people look forward to buy things they need temporarily and can't buy and people wants to get rid of unused items they can't sell.

contributing factors to the problem that relate to your solution are:

-Lack of reliability
-Lack of communication
-Lack of proper transportation
-lack of awareness
-Scarcity of space
-Improper division of labor
-improper expenditures

This is basically a problem to almost all the people in the country including myself. I surveyed 300 people and found out that 294 of them needs things that they hesitate to buy and would love to get it temporarily for a minimum price. 257 people wanted to rent out things they don't use daily.

The solution would be the best platform that addresses their needs. People can get the things they want and can rent it without any hesitation and hassle.

RenIt platform shall be available as website and mobile application (android and IOS).

System shall allow users to input items and their charge depending on the duration. User can show interest, and place order. Then the system shall show notification to the seller. Seller then can approve and contact. The system shall then find a nearest courier depending on the items weight and send it to the buyer. 

The solution is innovative because there is no other platforms like that currently. People can rent or get the things just sitting at home, which saves lots of time and energy. it is easily accessible and reliable.

The current number of people I am serving is none. I am hoping to serve atleast 200,000 people in one year and in the next 5 years I am hoping to serve at least 4 million people.

My first goal will be to reach at least one million people with the idea and then enlist at least 200,000 active users in the system. in the next 5 years I plan to reach to at least 10 million people with having 4 million users in the system.

financial barrier is the main one then the legal barrier. The people who shall take any items has to return it properly or has to give penalty

Financial barrier can be overcome by investors and the users has to submit their necessary id's before opening an account and those id's has to be verified. Users has to make sure and be aware of the consequences after every item is lost or broken.

5 full time workers including developer, designer. and 2 part time workers doing the field job

Full timers are Computer Science graduates all of them having at least 2 years of experience on Software Developments and management.

RenTit will revolutionize people's life style, there will be no work stopped for lack of equipment, no study shall stop for lack of books and stationary no insecurities for the people who always wanted to have certain things.

Key customers of RentIt are the people who can efficient in using mobile apps/websites. Beneficiaries are the people want to start rent business are also can be enlisted in the system. Business people has to give a little percentage of their transaction. There will be a premium account for the people want to place more than 3 orders a day and expect longer duration of their rented items. Users need to buy premium accounts. For every transaction system cuts out 5% charge from the owner of the product.

Raising investment capital, seed funding and series funding.

I am applying to Tiger Challenge to get mentorship, funding support and office space