Second Warehouse, founded by touring engineer and industry veteran Stuart Kerrison, is a new web-based service that will change the essential but time-consuming and costly activity of equipment cross-rental.
Rental companies of all sizes will be able to trade with one another in what Second Warehouse says is a safe, fast, monitored and cost-effective environment. Second Warehouse only costs you money when it makes you money and even then many transactions are entirely free of charge.
Cross-rental, often referred to as sub-hire, has always been an essential part of how AV rental companies make money and find AV 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 AV cross-rental relied upon members of staff spending hours or even days making phone-calls, writing emails and searching social media to reach even the beginnings of an agreement. Second Warehouse says it will change that.
A rental company searching Second Warehouse for AV equipment will find what they need quickly, 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 via direct messaging. All transactions are safe thanks to Second Warehouse’s vetting procedures (including a full identity and credit check upon sign-up) and a built-in user-rating system. It only takes a few minutes to do a deal.
For the supplier, the 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 commissions to pay. There are no sign-up or subscription fees.
Users can quickly and simply expand their cross-hire network, get quotes, negotiate prices and organize transport, prioritize existing relationships via the ‘preferred users’ 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 let Second Warehouse track their available inventory and keep it booked out and busy. The system is completely web-based and works on all devices from mobile to tablet to desktop.
Second Warehouse is launching in Europe during Q1, 2018, with expansion planned for the U.S. and Asia by Q3, 2018. For more information or to sign up, click here.