We all know sharing equals caring, but apparently sharing also equals a whole bunch of cash for those involved, as well. We’ve touched on the vast opportunity of heavy equipment sharing in the construction industry a lot, recently, with the rate equipment rentals on the rise and the launch of EquipmentShare, a peer-to-peer equipment rental company recently entering the market. Now there’s another peer-to-peer equipment sharing company making news and it’s got a heavy hitter backing it financially.
Yard Club, a San Francisco based company, has just announced that Caterpillar, Inc. has started strategically financing the startup equipment rental company. Like Uber or AirBnb, where regular everyday Joes can offer their personal property up for rental, Yard Club will allow contractors to rent their idle equipment to other contractors in need. Although Caterpillar is now involved, the service will not be limited to only Caterpillar products, so no need to worry if you’d like to take advantage of the opportunity and don’t currently use Cat products.
Currently Yard Club only operates and rents out of San Francisco, but with Caterpillars backing, their plan is to rapidly expand their concept to other parts of the country.
For renters, Yard Club promises to only rent high quality machinery that has been thoroughly inspected, while also offering the benefit of lower costs. All available machinery can be browsed through right on their apps that are available on both Android and Apple devices.
The owners of the equipment are able to set their own rental prices and can rest easy knowing that Yard Club verifies that the renter has insurance and they are protected by a Master Rental Agreement. Both the owner and contractor are held to the Yard Club Code and violators can have their access removed. Around 20% of the full rental cost does go back to Yard Club as their commission.
Android App (Free) | Yard Club, Inc.
iOs App (Free) | Yard Club, Inc.
Yard Club Announces Strategic Financing from Caterpillar | Yard Club, Inc.