Small Business Management

Rentit.pk

Group 1
Fig 1. Provided below shows the mechanism of renting a dress through our business
mode

Last Mile Delivery :

For our last mile delivery services, we aim on partnering with Bykea as our business
partner. Bykea will be registering us as its closed contacts. Being a closed contact will
give us the edge of always having fleet available.

Fig 2. Provided below shows the delivery through our business model in partnership
with Bykea
Packaging:

-Dress must be packed professionally in a plastic handle bag with our provided sticker
placed in the top left corner 
-Equipment must be covered in a plastic sheet/wrap with our provided sticker placed in
center

Penalties:
Lessor:
Rs.5000 for non-compliance of packaging 
Rs.3000 if dress is put up on portal and not available 
Rs.2000 if dress is not packed for delivery in time (rider will wait a maximum of 10
minutes)

Lessee:
Rs. 1000 on any kind of equipment damage 
Rs. 10,000 if dress is damaged 

Benefits:

For Customers:

 Saves on cost: You will not have to pay the

entire cost of the asset up front, because
you wouldn't have to burn out your cash or
take out a loan
 Higher quality product: You have access to
higher-quality product that would otherwise
be too costly to purchase outright!
 More variety: Renting clothes allows you to
experiment with different designs and patterns
 Saves closet space: Since most of us have little closet space, renting clothes
would save us precious space.

For Renting party:

Better Profit Margins

Renting out your goods to other customers on a regular basis means you'll build up an
inventory that will finally pay for itself. Rather than receiving a single lump sum payment
from a buyer, you have the opportunity to continue to make a healthy return on an item
indefinitely.

Easy Money: 

Designers/Clothing businesses can sit at home and earn money through your inventory
that would otherwise be kept at some corner. 

For Us:

Scalability and Growth:

Renting out equipment to consumers also

allows you to expand your market by providing
extra resources related to the products you're
renting out. For example, if you rent out
seating or decorations for weddings and
events, there's a good chance that your
customers would pay a premium to have your
company not only provide them with the best
products but also with the best service.


 
 

Competitor Analysis
The trend of renting what is needed at the moment is on the rise in Pakistan despite the
major security concerns. The Pakistani populace has always known of rentals in the
domain of automotive and event spaces such as halls and gardens, but lately a few
people in the country have developed websites and applications that allow people to
rent their unused, free stuff at home to individuals in the country that may require them.
These are businesses that our potential business, Rent-it.pk, would be in direct
competition with. Competitors include:

 Rentable.pk
 Rent Karo.

Rentable.pk

The strongest competitor amongst these is a website and application by the name of
Rentable.pk developed in 2020. Rentable.pk is an online portal that connects people
who have excess things at home to people who are willing to pay for renting those
things instead of going out of the way and buying them.

Figure 1: How it works (Source: https://rentable.pk/)

The website operates by allowing individuals to make a free account and place an
advertisement for what they want to rent out, defining the area where it is available, the
time-period and the expected payment for the duration of that time period. Potential
customers can then browse through these advertisements and approach ad placers for
acquiring the rentable item paying them the amount and collecting the item.

The picture below shows the interface of their website.

Figure 2: Rentable.pk's website interface (Source: https://rentable.pk/)

Rentable.pk operates in six categories of items:

 Automobiles
 Electronics and Home Appliances
 Property
 Books, Sports and Hobbies
 Fashion and Beauty
 Furniture and Home Décor.

Rent Karo.pk

Rent Karo was developed in 2016 with the intention to be a free platform where people
can rent whatever they want to. However, there has been no activity on this platform, so
it is not a strong competitor.
Figure 3: Rent Karo.pk's website interface (Source: http://rentkaro.pk/)

Local Market.

Rentit.pk may face some competition from local markets in Karachi that sell many
materials that Rentit.pk will be renting on lower prices than usual, especially items for
decoration and items for equipment. Markets such as Bolton Market, the largest
wholesale market in Karachi, markets near soldier bazaar, Saddar and local small
shops may offer deals and discounted prices that are too enticing for customers. These
markets are the first place people visit when they are looking for cheaper alternatives
and items in comparison to the high-priced alternatives that are available at perhaps
specialized wedding dress stores and shopping markets such as at Tariq road.

Sources of Funding

As a partnership-based startup, Rentit.pk has many options to choose from as its

sources of funding. The most immediate option is a partnership investment by each
THANKYOU FOR A GREAT COURSE, SIR! THE END

Group Members:

 Mehk Merchant
 Naveen Naveed
 Zeeshan Hashmi
 Mahwish Hashmi
 Vishal Malhi