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we hear it. Sawdust will score, do not feature many stories about peer to peer lending or crowd, sharing or similar for a couple of reasons. Firstly, because it is not always a lot to say about them. It's kind of a simple self explanatory think. Second, there not usually a great business model if you're trying to create an asset for yourself, and that is what I am focused on every single day. By the way the show is caught sight of swill school. My name is critical about, and I am all about trying to help you create something that can earn money for you not just help you work harder because you already know how to work hard and you're busy. I want you to do something. That's really gonna help you get ahead to move forward, make progress so not usually great business model if you're trying to create an asset for yourself, but naturally there are exceptions. These platforms and networks can be great to experiment with the one want to talk about today is really simple and how it works. I basically you have equipment or gear or tools of some kind. It you're not using really

you're, not using them every day you can post them on this site and other people can rent them from you again, not usually a lot to say about something like that, because it is so simple, but once in a while, someone comes along who figures out a competitive advantage and actually does earn a lot of money from one of these sites, so not just pocket money, but something that is substantial, insignificant and today story fits into that category. It's about a London receptionist who is also a part time photographer when he begins to run out his camera gear on the weekends he gets really good at it he's just my size is the process where you can do it over and over and ends up renting it more than one thousand one hundred bring in more than thirty thousand dollars so far in just about a year. So most people who own their stuff out don't make thirty thousand dollars a year doing it. How has this guy made it happen? That story is coming up after this quick. Thank you to our spa

There's a reception is for a property management, company and Central London and it twenty sixteen. He also started taking freelance photography gigs from then on. His evenings and weekends were spent, shooting, weddings and other various events. It was in preparation for an upcoming wedding shoot that Antonio discovered a completely different way to make money. Despite having spent a year collecting equipment, he still infidelity had all the gets from then on his evenings and weekends were spent, shooting weddings and other various events. It wasn't duration for an upcoming wedding shoot that Antonio discovered a completely different way to make money. Despite having spent a year collecting equipment, he still infinity all the camera, your necessary to create the highest quality package for the bride, but he also knew that traditional camera equipment rentals can be expensive and require a hefty deposit

usual deposit in a camera rental shop in London can put you out up to one thousand five hundred dollars in addition to that large deposit, the verification process necessary for renting can be inconvenient. You complain about this to a friend who is also a photographer and they suggested Antoniou use a fat llama to rent the equipment. You need. Now, if you are not familiar with it, fat Lama is not an up and coming wrapper, nor is it a Jimmy buffet song from nineteen eighty, it's a peer to peer sharing platform that connect people who need to borrow something with those. You could use a little extra cash, Now the name sharing implies and no charge service set. Terminology can be confusing. There actually is. Eighty, large costs to bar items. To disturbance, however, is Antonio found. The rate to rent through fat Lama just look saying that fat Lama was much more reasonable than a classic rental method. He found out, he was able to rent a gear he needed for less than fifty pounds more about sixty dollars. It was a steel of a deal that

was available for pick up the same day in the whole process. With simple from that, first, we will experience. Antonio was entreat his next thought was when they were not my own equipment. He already on a decent amount of fear. Does that mean he had virtually no start up cost whatsoever? I told you I missed the first time he ran his six thousand dollars camera. He was so anxious you couldn't sleep He was running out the most expensive item beyond to a complete stranger. All you can think about was any worst case scenario that could happen, visions of his camera being smashed kept him tossing and turning through the night, however, the next day he met up with the person running his camera the day after they returned it in perfect condition, and everything was mine. In fact, after just meeting as customer Antonios fears were east, it also help that fat Lama provides insurance in various protections for both parties. Now, how do they do this fat Lama, which I also think is like a dj name J fat Lama, FAT Lama charges a fifteen percent rate on both sides of the transaction. That is both a lender and the borrower are charged to fifteen percent commission included.

I see is the cost for the insurance. When Antonio first started, he was booking two to three rentals a week. Miss increase quickly to five to ten minutes a day. That's right up to five to ten miles a day and Billy increasing, so the first question I had was how the road is Anton. You keep up with all this. It's a lot of details and he said first off about eighty percent of the rental pick ups and drop off occur on the weak. It. A lot of runners want to pick up equipment on Friday evening then drop off on Sunday. Antonio spends a fair amount of time on Thursday evenings planning and messaging about various pick. Ups and drop off also a lot of his renters. I repeat, customers, so he creates a profile whenever you meet with a new client that cuts down on some of the back and forth its know, what people need he makes recommendations here.

Legitimate relationships through this process and is also working on systematizing it, since there are so many rentals for the moment, Antonio, is managing this system. Well, however, in a future with his business growing, he says, he'll need to get an assistant. His priority is keeping exceptional customer service in place. You want everything to be perfect and his customers happy too good. Goes right now is mentioned. He had virtually no start up costs because he already on the camera equipment he was running out. He did invest another four thousand pounds in January when he bought another camera lends itself Antonios had over eleven hundred rentals hundred rentals. They also says he's met some amazing people. He feels like he started a community and much learned so much about the equipment with by talking with those who use the and day out these also made more than twenty five thousand pounds, which is about thirty. Two thousand dollars is all within one year The money towards another site, hustle buying an apartment in his home town of Serbia, Macedonia that he will of course went out on European Bee.

Time running his camera you're out five times a day. Is a trade Antonio can picture himself then, for some time to come.

Awesome. This episode reminds me of a story we did long ago. Nick, I told the story and satisfy book is well story of a guy who rinse out cars, uses the platform to row to run out a fleet of cars to people and, alas, Angeles area think he s something like a dozen cars that he least and rents out pretty much all the time that was episode, thirty, to make two thousand dollars a month running out cars, you don't own and for anything like this, whether its cars, you don't own or cambric here that you do on proper systems, are critical with scale like there's no way tat, you can maintain a fleet of ten cars whatever it is, or have up to five appointments a day in London dropping off and then taking up equipment without good systems. If you just doing this once in a while as a one off kind of thing, and then you don't need that, but if you really trying to actually built a business with this like with this guy's done, you definite when I think a bit about

the logistics and do whatever you can't take and of maximize or make that process more efficient, so with logistics, for example, trade group bookings to minimize the back and forth in that in a camera gear rental industry. I had hoped that allow that stuff is focused on the weekends. So Antonio can have this busy Thursday night getting ready in Friday. He's doing lots of hand offs and Sunday he's doing lots of pick ups. He also had a tip for you that I want to mention. He says you know it's really important to be very clear and specific, as the lender about what you expect in the riddle process makes your people understand like here's, how it works you and I take it. You may use the equipment for this man a time you're in returning to this point. Here's what you can do with it. Here's what you can't and so on, and I just makes Better for everybody makes it better for him, he feel safer. Now the customers feel informed. They feel confident and as we can see, many of them are coming back to him time and time again so pretty cool story. I

Thirty thousand dollars a running out hamburger. I once again dj fat lama dot com- it's probably just fat Lama Dotcom, although it should be Phd lama right, not at eighty lama like that lamas, so fat like gonna, takes us down a different direction which were not gonna go down at the moment. It is time for me to sign off the day, or at least it should be, as always, inspiration is guide, but inspiration with action is so much better hope. You'll take what you ve heard here. It may be applied in some way. If we want to see the show notes for today's episode, links to everything I mention- maybe some other resources as well just come to satisfy school dot com, slash, six, one, nine that is represented six nineteen. Now, if you would like to know more about how to swim,. Well, if you'd like to get more involved. If you just joined us recently or if you've been with us for a while, you have any questions, comments or just want to know more about why we do what we to send an email to my sidekick Jed and his name is J e g g. I saw tussle school dot com

and you can let you know that more about what we're doing. I'm workin on some points stuck up to involve as many people as possible are. That's. It I'll be back tomorrow. If I must thank my name is precisely this is site. Has our support.