A web-based service set to ‘democratise’ equipment cross-rental, Second Warehouse promises a new business model for the pro A/V rental sector.
Often referred to as sub-hire, cross-rental enables A/V rental companies make money and find equipment. As a source of revenue, it has long been considered not only a powerful method of achieving quick return on investment, but a lifeline for smaller businesses experiencing quieter months. Before Second Warehouse, however, pro this relied upon members of staff making phone-calls, writing emails and searching social media to reach even the beginnings of an agreement.
Second Warehouse provides rental companies of all sizes the means to trade with each other in a secure, fast, monitored and cost-effective environment – the service only costs money when it makes money, and many transactions are entirely free of charge.
A rental company searching Second Warehouse for A/V equipment will find what they need in a matter of seconds, while every item returned in their search will be from a fellow rental company whose gear would otherwise remain unused. Both companies can negotiate the equipment sub-hire and arrange transport without ever having to leave the Second Warehouse environment, with direct messaging to ensure no detail is ever missed. All transactions are safe thanks to Second Warehouse’s careful vetting procedures (including a full identity and credit check upon sign-up) and a built-in user-rating system. By the time both parties click on the handshake button to generate a contract and seal the deal, no more than a few minutes need to have passed.
‘Along with input from professionals in the rental business, I’ve drawn on my own experience in developing Second Warehouse to make pro A/V sub-hire easy,’ says touring engineer and industry veteran – and Second Warehouse founder – Stuart Kerrison. ‘I know how important cross-rental is, and also what a time-wasting drag it can be, because I’ve been the guy spending hours on the phone, calling friends in the hope of finding that one bit of gear I need for a show. Second Warehouse solves those headaches and lost hours, while making sure that your equipment is always out being used and earning you money.’
Only cost is a small percentage commission, while for the hirer, the process is free. Companies are also able to select up to two Preferred Users, with whom they can trade on Second Warehouse as much as they like without any commission to pay. There are no sign-up or subscription fees.
Second Warehouse offers features specifically tailored to the A/V industry. Users can quickly and simply expand their cross-hire network, get quotes, negotiate prices and organise transport, prioritise existing relationships via the Preferred WUsers feature; trade commission-free with high volume use; and use the direct messaging system to ensure transparent communication throughout. As an option, Second Warehouse can also directly communicate with many rental management software applications, meaning users can choose to simply sit-back while Second Warehouse tracks their available inventory and keeps it booked out and busy. The system is completely web-based and works on all devices from mobile to tablet to desktop.
‘Second Warehouse has the potential to fundamentally change how the rental sector functions, ensuring that companies of all sizes are able to trade with one another in absolute confidence, so everyone does better business,’ says Kerrison. ‘No one got into this business to spend tedious hours on the phone or writing emails. Second Warehouse gets rid of all that so you can get back to doing what you really love – putting on great shows and making money while you do it.’
Second Warehouse launches in Europe during Q1 2018, with expansion planned for the US and Asia by Q3 2018.
More: www.secondwarehouse.com
