Shifting to a new city is an exciting prospect, it comes with endless new possibilities and encounters. But it’s also a nerve wracking journey for your bank balance which rapidly seems to dwindle. When opting for rental houses, the main issue that stands in the way is the furnishings that would be required. Wouldn’t it be easier if you could rent them just like you’ve rented the house? Or if you could rent a bike for a day to show off in front of your girlfriend? Or what if a Laptop was available for rent so you could smoothly get through the last semester in college without a big hole in your wallet?
Rentongo is an online platform to bring together business/individuals providing different types of products on rent and customers who need it. This underlying concept of Rentongo is to promote collaborative consumption and help everyone save money, space and environment through renting.
The thought of starting an online rental marketplace came about when Nikhil and his wife shifted to Bangalore and were looking for a fully-furnished apartment. Since the options were few, they thought of looking at an unfurnished place and went about looking for household stuff on rent to furnish the house. But soon they realized that the product rental market was very unorganized and fragmented. This was the motivation behind the idea of online rental marketplace.
Nikhil has an industry experience of more than 9 years with companies like Infosys and HCL. By qualification he is a Computer Science Engineer and holds an MBA from IIM Calcutta. He has also played various roles during his career – Software Developer, Business Analyst, Product Manager etc.
The experience that he has gained all these years was invaluable. But he was never presented with an opportunity that could realise all his potential and make him think beyond the boundaries. This thought then triggered in quitting his job at HCL to conceptualize Rentongo in Nov 2012.
It took around 1 year to put together Rentongo which involved doing market research, understanding the pain points of rental vendors and validating the concept through a basic free-listing website. Rentongo has shown the promise of being the pioneer in Indian market for rental of products. They have received great feedback from vendors, consumers, potential investors across the country over the last 10 months.
The target audience are people who need any product temporarily and are buying stuff not by choice but because they are not aware of renting as an ‘option’. This includes consumers – who are moving between places, who have guests at home, who want to try something before they actually buy it and so on.
Doing an online search for renting an item often involves finding vendors listed as hirers in an online classified who very often either do not rent out products at all or do not rent out the specific product. This conundrum is broken by Rentongo.com.
It lists only verified products that are actually rented out by vendors thus reducing the hassle for renters. Apart from that they also empower individuals to become micro-entrepreneurs by renting out their household items on Rentongo.
The biggest challenge in their entrepreneurial journey was to deal with the issues specific to the rental market. Vendors who have been in this business for more than 5 years were unwilling to accept an online solution as they were not fully aware of their own inventory. So to convince them to get listed was tough and they had to initially list their products for free to show them the benefits.
5 years from now Nikhil wishes to see the Indian market for rental of products growing rapidly and wants Rentongo to be the fuel contributing to that growth.
While you move on the go, you can also rent on the go. From furniture to bikes to costumes to a lot of other options, check out their website for more.