Convince partner join sharing community: complete guide

What Is The Sharing Economy?

Google the ‘share economy’ definition and you’ll come across terms like ‘collaborative consumption’ and ‘gig economy’. But it’s peer-to-peer transactions are so much more than that. The sharing economy has changed how we travel, holiday, bank, dress, eat, work and play. To really hit home on this point, we’ll name drop some share economy examples: Airbnb, Uber, Airtasker, Gumtree… You get the idea.

The global sharing economy is well and truly booming, with PwC estimating that it will be valued at over $483 billion by 2025, compared to $32 billion only four years ago! Its surging popularity is due to the mutual benefits - suppliers can monetise their free time or underused belongings, while consumers can enjoy affordable services without the middleman markups. All through an easy, online platform.

Whether you’re looking to boost your earnings with a side hustle or take on a complete career change, now is a better time than ever to set up shop in a sharing community. That said, it’s not all sunshine and rainbows. From tax and insurance to safety and availability, there are some key considerations to bear in mind. So, we understand if your partner is slightly hesitant about your new business idea.

Thankfully, we’re here to help you convince them that the returns far outweigh the risks. With Camplify, you can earn $280 - $2,100 per week by hiring out your idle campervan, caravan or motorhome. So, as long as you do your research and take some simple steps to protect your vehicle, you’ll be smiling all the way to the bank!

Learn more about how Camplify works for owners here .

Share Economy Benefits

Minimal Expenses

Thanks to relatively low startup costs, the sharing economy has encouraged millions of entrepreneurs around the world to bring their businesses to life. To get off the ground, you simply need to own an asset that you’re willing to sell or hire out.

For instance, if you’re an existing RV owner, you can start profiting from your rental for next to nothing on Camplify. What’s more, if your home has a garage or driveway to park your vehicle in between hires, you won’t even have to worry about paying for storage space. Not to mention that all transactions are dealt with online from the comfort of your own home, so you can forget about eye-watering office rent.

Maximised Earnings

Peer-to-peer platforms open up new income avenues for private providers, letting underutilised items gather dollars instead of dust. And with no certifications, qualifications or training required, everyone has the opportunity to turn a profit! Of course, you get as much out of it as you put in, with many dedicated suppliers making a plush living from their share economy earnings.

Easy Access

Sharing economy platforms depend on successful peer-to-peer interactions, so they are designed for ultimate user-friendliness. Quick and simple online processes mean that transactions can be made on the move in a matter of minutes - today, you can hire out your vehicle, sell your services or rent your clothes with just one click. And with greater efficiency comes more customers.

Everyone’s Happy

The sharing economy benefits everyone involved - it’s a win-win situation at the touch of a button. That’s because services are inherently cheaper: buying second-hand belongings, renting lived-in homes and hiring privately-owned vehicles are more cost-effective than purchasing brand new products, paying for a hotel room or booking a car rental through a dealership. With heaps of customers looking to get what they want for a fraction of the price offered by traditional companies, your business can thrive.

Eco-Friendly Commerce

Protecting the natural environment needs to be prioritised now more than ever. Thankfully, the sharing economy is rooted in a commitment to sustainability, achieving more with fewer resources. Re-using assets and encouraging mindful services can lead to significant reductions in harmful production and wasteful living. At the end of the day, sharing is caring.

The Usual Concerns… And How To Put Them To Rest

It’s totally understandable to embark on an unfamiliar venture with caution, especially when it’s an investment idea. So when your partner shuts down any possibility of entering the share economy market with the below arguments, hit them with some facts.

Insurance

Trusting someone you don’t know with a precious belonging is easier said than done, especially if it’s taken a large chunk out of your savings.

Luckily, insurers have caught on to the sharing economy boom. Coverage designed specifically for rentals works to ensure that your bank account and belongings are protected against potential risks, such as damage or theft. In fact, self-drive hire insurance is a legal requirement if you’re renting out a motorhome or campervan.

Pay-as-you-go insurance is standard in the RV sharing economy, thanks to its cost-effective and flexible structure. Essentially, you retain your personal insurance for whenever you use your van, only ‘topping up’ your coverage on the days that it is out on hire. Alternatively, take out an annual policy that insures against an unlimited number of hires each year!

At Camplify, you can choose from two trusted insurance solutions from New Zealand’s leading insurance providers. With us, you’ll enjoy peace of mind knowing that you are financially covered on the off chance that something goes wrong - from as little as $7 per day.

Taxation

As with any income, you will face some tax obligations when you make money through the sharing economy. If your expenses exceed your earnings, then you won’t have to worry about paying any taxes. But it’s pretty likely that your income will outweigh your costs, in which case you will need to pay tax on the difference. So, is it really worth it?

The great news is that you can claim tax deductions on 100% of your rental-related expenses - every dollar you spend on your RV is tax-deductible. Some of these costs will be related directly to the hire, such as cleaning supplies, transport charges and storage fees. Others will be more concerned with the vehicle itself, such as its annual depreciation value.

To minimise your tax and maximise its benefits, keep records of your receipts, registration fees, insurance charges etc. Whether it’s with a spreadsheet, software or an old-school logbook, make it easy for yourself to cost up expenses at the end of the tax year.

When it comes to your income, we recommend setting up a new bank account dedicated solely to your rental earnings and expenses so that you can stay on top of your cash flow in one spot. And if you decide to hire out your van with Camplify, you can download clear income reports from your account in seconds.

Follow this advice and you can rake in thousands more than you’ve invested.

So yes, it’s worth it.

Safety And Security

Let’s be honest, sharing one of your most valuable assets with a stranger can be more than a little scary. And your business depends on it. That’s why sharing economy platforms have developed strict safety measures to ensure you can rent out and rest easy.

A bonus of peer-to-peer marketplaces is their reliance on ratings, which encourages all users to treat each other and the items with respect. And with Camplify, not only has every customer been vetted, but they have also been reviewed by previous owners. That means you can be confident that your van will be in trusted hands before you confirm any booking.

We also hold a $1,000 security bond on every hire, just to be extra safe. And if you’ve recorded any damage using our post-hire and pre-hire checklists, simply submit a breakage claim and our dedicated team will support you in recovering the costs - any repair or replacement fees over $1,000 will be covered by insurance, so you’ll never have to reach into your pocket.

Lastly, each Camplify hire automatically includes free AA roadside assistance throughout New Zealand. This means that if any issue arises during your hirer’s trip, the AA will rush to the scene to take care of your customer and vehicle.

With all of this safety and security, you can wave goodbye to stranger danger.

Time And Effort

We understand that the notion of taking on yet another project when you’ve already got a full-time job is daunting. Perhaps you’re also busy running a household and managing several side ventures on top of that.

Fortunately, your sharing economy rental service couldn’t be more convenient to launch and operate. As long as you have internet access, you can join any online platform and run it from your doorstep. With Camplify, all you need is a garage, driveway or parking space for your van (and the hirer’s car while they’re away) and you’re ready to roll.

Just make sure you are available and accessible enough to communicate with and serve customers efficiently. Your location should accommodate any customer visits, trips to the post office etc. Depending on the platform you are using and the product you are offering, you may also need to be slightly flexible with your time. For instance, many Camplify handovers tend to take place during the working week, as hirers collect the RV before setting off for their weekend away.

That said, this is your service so you have the freedom to dedicate as much time and effort as you wish. That’s the beauty of being your own boss. Just remember that the more you put in, the more you gain.

Discover Just How Much You Could Earn

The sharing economy has created a whole new opportunity for owners across the globe to profit from their assets - whether you are moonlighting or handling a full-blown enterprise, the power is in your hands. With the potential to earn thousands a week, approach it the right way and you’ll never look back!

Thanks to RV sharing platforms like Camplify, hordes of owners are transforming their vacant vans into literal money-making machines. For some vantrepreneur inspiration, check out Steph and Richard’s success story and learn how they turned a somewhat reluctant purchase (from her side) into a six-figure business. If that’s not a case for compromising, we don’t know what is.

Keen to get involved in this lucrative industry? See how much your RV could make with our handy calculator.

Join The Sharing Community Today

It’s safe to say that the sharing economy is here to stay. And it’s no surprise considering that suppliers can earn some extra income, while customers can take advantage of wallet-friendly deals. Our advice? Start profiting from this brilliant business model sooner rather than later.

Your partner will thank us.

What is Camplify?

We are Australia’s largest caravan hire and RV sharing community, helping connect thousands of holidaymakers with RV owners. And we’ve just expanded to New Zealand!

What does that mean?

Essentially, we provide a unique sharing service where owners of caravans, camper trailers, motorhomes, and campervans list their RV for hire while not in use.

As a holidaymaker, Camplify helps you find an RV that is perfect for you so that you can experience the joys of caravanning - without having to own one yourself.

Interested? Learn more about Camplify for owners here_.

Feature Photo by Toa Heftiba on Unsplash_