New Website Taps Into Online Rental Business
TapGoods.com could be called the Uber of stuff. The Dallas-based site, which allows users to rent or rent out property they don’t always need, is the brainchild of Preston Hollow entrepreneur Doug Levy.
Levy came up with the idea while he was planning for a recent family ski trip. When he discovered that it would cost his family of four over $1,000 to rent skis for a week, he began to wonder if there were individuals who would rent out their skis for a lower price.
The former owner of MEplusYou strategic and creative agency used this experience as inspiration to found this latest addition to the sharing marketplace.
“I usually come up with ideas when I want to see something change,” Levy said.
TapGoods went live in 2015. The market is stocked with items that users might need to use once or twice, but that aren’t worth paying to purchase, such as carnival games, large electronics, and power tools.
“[My] folding chairs have gotten the most activity which is great because they would otherwise be sitting in my garage taking up space,” said Louis Okon, an owner on TapGoods. “I would much rather my stuff get use and make me money.”
While owners set the rental prices, TapGoods recommends five percent of the original purchase price for one-day rentals.
“Items that cost more than $100 to purchase are the sweet spot,” Levy said.
Once an item has been rented, it can be picked up, dropped off, or the owner and borrower can choose to pick a place to meet and make the exchange. In addition, the site also offers a delivery service, TapGoods Door-to-Door.
“TapGoods was a perfect platform to help connect me with a guy nearby … who had [a computer projector] available and the experience was fun and friendly,” said Nick Mastronardi, a recent borrower and tech policy expert.
The company also offers up to a $10,000 guarantee, should your item get damaged and the renter doesn’t pay for repair or replacement, or if it’s stolen.
To expand its market, TapGoods is now experimenting with kits. For example, a “Build Your Own Deck Kit,” would include all the items one would need to build a deck, minus the wood and other consumables.
“We are trying to think from the consumer prospective and provide a better option for people,” Levy said.
TapGoods is currently available in Dallas. Levy hopes to expand TapGoods to other markets once his platform grows and maintains traction here.
