What: BabyQuip helps you to start a business renting out baby gear — cribs, strollers, toys, books, bottles, etc.
Expected pay: Averages $600 per month
Husl$core: $$$$
Where: Most major cities nationwide
Commissions and fees: 18.5%, plus a one-time $100 set-up charge, plus the cost of a commercial liability policy for your rentals. (This policy cost varies by rental receipts.)
Requirements: Generally, you should start with at least a crib. Other baby equipment can be purchased as you go
Review: BabyQuip, previously known as Babierge, operates on the idea that traveling with your baby shouldn’t require the cost and misery of schlepping around a crib, car seat, stroller and a suitcase full of toys. Thus, the site connects traveling parents, who need cribs and car seats while on vacation, with local parents, who have them and are willing to rent them out. In addition to renting out cribs and toys, many BabyQuip contractors also offer to deliver other “consumables” — diapers, formula, wipes — to the travelers for a fee.
For parents who already have a lot of this equipment — and don’t mind adding a traveler’s diapers to their shopping list — this is a nice way to get repaid for your “investment” in junior. But, if you have to buy everything, your profit margins may be slim. That’s partly because of the platform costs, which are high, but reasonable in our opinion. (You pay $100 to set up, plus 18.5% of the money you earn. There is a separate fee for commercial liability insurance. The insurance piece varies by the value of your rentals. If you rent out between $250 and $499 worth of gear in a month, the insurance charge will be $25. If you rent out $4,500 in gear, the insurance charge is $250.) But it’s also because you will need to account for the time that you spend buying and then cleaning everything between renters. And, in many cases, BabyQuip providers also deliver. To be sure, you get to set the price for rentals and delivery, but it you’re far more expensive than the competition, you’ll get fewer customers.
What their users say: (From Glassdoor)
Great community of other Independent Trusted Partners to share tips and ideas. Trusted Partners are not employees, so they have the independence of running their own business but with the platform, training and support of corporate. Nice sidegig. The company is growing quickly. Generally it’s not going to be a full-time income
