We spoke to one of our lenders about how the money he’s making from lending on Fat Lama is allowing him to concentrate on work that he loves.
How many listings do you have up on the site?
I have around 20 items listed on Fat Lama but it’s always growing as I keep discovering new stuff that works great for rental.
Do you borrow items yourself on Fat Lama?
I have not yet rented myself on Fat Lama but I would be sure to check it out if I needed stuff, especially photography equipment required for assignments.
What items do you rent? What’s your most popular item for rent?
I mostly rent Camera equipment, things like lenses, tripods and the most popular my DSLR and Mirrorless Camera body.
How many days do you normally rent an item for?
So far a usual rental has been around 2-3 days but I have had everything from 1 day to a week.
On average, how many rentals do you make a week?
I rent out around 2 or 3 items a week with users usually renting multiple items at a time.
“Using Fat Lama has been a great help so far in allowing me an extra income to help me concentrate more on work that I enjoy.”
What else do you do for a living?
After leaving a full-time job contracted to Google I am now pursuing a passion freelancing as a Wildlife Photographer using much of the equipment that I rent on Fat Lama as well as building an app platform that aims to redistribute wealth using collaborative consumption and labour.
Using Fat Lama has been a great help so far in allowing me an extra income to help me concentrate more on work that I enjoy. I would definitely recommend to freelancers as the tools of your trade can earn you money whilst you are not using them. It can also be a great opportunity to take on jobs that you might not normally be able to due to insufficient equipment by renting from others.
Lending his gear out on Fat Lama allows Darren more time to spend on nature photography.
How much money do you earn per week/month from renting out your stuff?
I have made around £50 per week or a couple hundred per month so far and no signs of slowing down yet. I feel the platform is only going to keep growing too, as we move away from consumerism and more into experientialism.
Have any of your items ‘paid for themselves’ yet?
One lens has paid for itself so far; however, I did pick it up in a charity shop for £15.
Do you have returning customers?
I have had a couple return customers so far. People who have only weekends free to work on filming and photography projects and makes more sense to just hire rather than buy.
How have you found using the platform?
I have only used Fat Lama for a few months now and have been impressed with their efficiency in improving and evolving the platform and their willingness to take on board feedback. It’s a learning curve understanding the protocol of a new way of lending and renting from one another and I think it’s only getting bigger and better. The sharing economy and platforms like Fat Lama are here to stay.
What would be your advice to someone who wishes to lend out their stuff?
If you think people don’t want what you have to offer then you may be mistaken. The founder of eBay listed the first ever item on his platform, a broken laser pointer and it sold to a collector of broken laser pointers. You never know what reasons people might want for renting your stuff but there is plenty of them.