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How to price your items

Setting the right price is crucial for attracting borrowers while earning fair returns.

Pricing strategies

Market research

  • Search for similar items on BorrowMe
  • Check rental shops for comparison
  • Consider your item's condition and age

    • Value-based pricing

  • Daily rate: 1-3% of item value
  • Weekly rate: Offer 10-20% discount
  • Monthly rate: Offer 30-40% discount

    • Factors to consider

    Item value

  • Original purchase price
  • Current market value
  • Replacement cost

    • Demand

  • Popular items can command higher prices
  • Seasonal items (ski gear, camping) vary by time
  • Unique items may have less competition

    • Competition

  • Check similar listings in your area
  • Differentiate on price or service
  • Consider bundle deals

    • Security deposits

  • Set 25-100% of item value
  • Higher for expensive or fragile items
  • Clearly communicate deposit policy

    • Pricing tiers

    Daily rate

    Best for short-term, occasional use

    Weekly rate

    Offer a discount to encourage longer rentals

    Monthly rate

    Attractive for ongoing projects

    Adjusting prices

  • Monitor your booking rate
  • Too few inquiries? Lower the price
  • Booked solid? You might raise it
  • Seasonal adjustments are normal

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    How to price your items | BorrowMe