Discount. Coupon. Price cut.
These three phrases may be among the favorite phrases of a college student—excluding “free.” One thing college students are aware of is cost.
Any chance to lower a price, especially if we can get it for free, you’ll bet we’ll line up. Let’s take it one step further. Any way we can make a little extra cash, bring it on.
As Generation Y becomes what could be coined as the “free” generation, startup companies are tailoring their business models to our wants.
Qraft, a startup that launched Tuesday, allows owners of leisure vehicles to post their “toys” on their website to rent and make money on them.
These leisure vehicles include motorcycles, boats, cars and even planes.
The idea is to allow the common person to use high-end toys at a discounted price while allowing the renter to make some
cash.
“My family has a ski boat at home that we don’t use while my siblings and I are at school, and it’d be great to make some money on it while we’re away,” sophomore John Frank said.
This California startup permits you to rent the posted items at a daily, weekly and monthly rate.
For those negotiators out there, it is possible to finagle the price once you’re in touch with the renter.
Since the company is only two days old, Qraft does not have locations in all states yet.
However, they do have a decent selection of toys on their website that are readily available for rental.
While Qraft charges a transaction fee for the owner renting the leisure vehicle, registering the toy is free.
“It sounds like a good idea, especially for people who wouldn’t otherwise be able to afford the full price of the vehicle,” junior Madison Tulle said.
In an attempt to avoid the unfortunate predicament of a similar real estate startup, Airbnb, Qraft has taken precautions to implement an insurance policy for those renting their toys.
According to the well-known tech blog, TechCrunch, Qraft also has a system for confirming driver’s license information through scans to capitalize on the insurance of their owners’ toy.
With fall break approaching, this may be something worth looking into while vacationing, whether you’re the owner or the renter.
It will be interesting to see if this crafty business model will prove to be successful for Qraft.
