One of the biggest issues we are facing in the current world climate is sustainability. We’ve seen how severely limited resources lead to global supply chain issues and how our consumerism affects the environment. It’s leading governments and businesses alike to look into alternative models that both solve demand and contribute less waste and pollution.
The largest industry that is making strives to achieve these goals is the rental sector. Not only through words and aspirations but through real action that is being delivered by more and more rental companies. The rental industry is at the very core of a more sustainable world and economy, so let’s dive into what makes rentals so important and how you can contribute to a better future.
Sustainability
Often when we think about sustainability, we think about protecting the environment and reducing emissions to tackle the climate crisis. This is, of course, an important part of why rentals are key to achieving our goals. However, there is a further definition that we can also take into consideration, and that is protecting resources for future generations.
It has become clear that we cannot sustain the level of consumption that we currently enjoy for much longer. Not only is it dangerous for the climate, but it also means that people won’t have access to essentials in the future. So, we need to find a solution that not only reduces our emissions but also reduces our usage of precious natural resources that have a limited supply.
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Circular economy
Rentals are at the heart of what is known as the circular economy. This business model seeks to tackle the environmental challenges we face. Not only because of the use of precious materials in the production of consumer products but also the emissions that are created by the production and delivery of such products.
Traditionally, products have been manufactured, used, and thrown away. This can be seen as a linear economy as products only go in one direction and are essentially created and disposed of. In a circular economy, products are made, used, shared/rented, reused, repaired, recycled, and refurbished to be used and shared again. Does that sound familiar?
The goal of the circular economy is to keep products in use for as long as possible. This approach ties in perfectly with the normal activities of a rental business. Therefore, as the general way of thinking shifts closer and closer to the circular economy, rental businesses will become more important, and the industry will see progressively more growth in the coming years.
A practical example
Within the rental industry, it’s not difficult to find examples of just how beneficial this approach to consumption is. For example, if 100 people visit an attraction daily and they bring their own bike, over the course of a year, over 35,000 bicycles would need to be bought and used. However, if they all rented bikes, only 100 would need to be bought and used repeatedly.
This saves on the emissions created by producing and transporting all of these bikes to these people and ensures each one gets more than its fair share of use throughout the year. Beyond that, these bikes can be repaired and maintained and see far more use than they would if they were each owned by a single person rather than a rental business.
Apply this scenario to every other product that can be rented, and the amount of emission, materials, and production costs saved is immeasurably less if everyone embraces rentals. Of course, this is easier in some sectors than others, but even the ones where it is easy make a massive contribution to reducing waste and pollution. It’s safe to say rentals are the future.
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It’s up to you
Of course, none of this is possible without consumers changing their attitude towards how they consume products or entrepreneurs choosing to operate through the rental model. However, we can already see that more and more people are coming round to this way of think, and the rental industry has boomed over the past few years and is set to continue to do so.
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