With the rise of AirBnB, Uber, Turo, Lyft, and other resource sharing platforms, it’s safe to say that the sharing economy is here to stay.
The sharing economy is an exchange process where people rent or borrow goods rather than buy and own them and it’s appealing for a number of reasons. For one, the sharing economy exemplifies a collaborative approach. Additionally, the sharing economy enables people to monetize assets such as homes, cars and tools using web-based platforms.
Today on Notes & Stories, we’re exploring 5 ways you can participate in the share economy and increase your income! Sounds good right? Let’s get to it:
Share your home with Airbnb
Airbnb has become synonymous with the sharing economy. The concept of this platform is simple but brilliant: people can rent and stay at a home or host guests in their own home. The platform does not own the properties listed for sharing but, rather, acts as a broker between hosts and guests. Airbnb was born a decade ago in 2008 and exploded into mainstream just a few years later. In February 2011, Airbnb announced its millionth night booked. Staying in an Airbnb allows guests and tourists to “live like a local” and immerse themselves in a neighbourhood.
Share your camera gear with Shuttershare
If you’ve ever considered taking up photography, you know that gear and equipment does not come cheap. With lenses and upgrades, photography costs can add up quickly. Thanks to Shuttershare, videographers and photographers can come together to share equipment and save money. You can choose to rent your own gear and/or search for equipment to rent. Sharing camera gear provides an additional revenue source for photographers and creatives which, as any freelancer will tell you, is extremely helpful. This share economy also helps new creatives and people who aren’t able to upgrade yet, access top gear at a fraction of the cost.
Share your parking spot with Rover
Anyone who has a car knows how challenging parking can be – especially in a downtown core. Toronto-based company Rover found a solution. Rover connects empty and unused parking spots with those looking for affordable and convenient parking. Residents can rent out their parking spots when they are at work or away on vacation and drivers can take the space when it’s mutually beneficial. This is a win-win for drivers who don’t want the hassle of wasting time trying to find affordable parking, and for residents who can make a few bucks by renting out their unused parking spot.
Share your car with Uber & Lyft
Uber and Lyft have made their way into our mainstream vocabulary because of their popularity and ubiquity. In under a decade, these two mobile-based platforms have changed the way millions of people get around. It disrupted taxi operation in cities and given every-day drivers the tools to be their own bosses. Eligible drivers can earn money each week as an independent contractor. It’s a great way to meet new people, increase your income, and work on a flexible schedule.
Share your kitchen with Chez Dine
What’s more collaborative than sharing food? Based out of Hamilton, ON, Chez Dine has combined your love for dining and home cooking to create something special. As per their website, “now you can book a meal in a stranger’s home, pick up take out, or book a private party for you and your guests.” Essentially, the Chez Dine platform allows users to share home-cooked meals. This emerging sharing economy player is worth keeping your eye on.
Overall, while the popularity of goods and services in the share economy is on the rise, there is still lots of room to grow. In 2017, Statistics Canada reported that from November 2015 to October 2016, an estimated 9.5% of persons (or 2.7 million people) aged 18 and older living in Canada participated in the sharing economy by using peer-to-peer ride services or private accommodation services.
With just the click of a button, almost anyone can take advantage of making money in the share economy.