Anyone else see a small gap in the uk market
Yes.
I've been working on this for a little while and I hope to open a UK-based lens rental business soon.
The UK market is certainly deficient. There is of course Calumet, and 3 other smaller operators that I have been able to identify, but they all share the following characteristics:
- Deposits for full replacement costs are required.
- Compulsory insurance surcharge.
- Equipment must usually be collected from and returned to a retail location.
- If delivery is available, no prices are quoted.
- No provision for Internet booking.
- No provision of stock availability via the Internet.
- The ability to reserve equipment in advance is probably available, but not advertised.
- High prices!
For example, renting a Canon 135mm f/2 L from Calumet would cost £162 for a week, once you've added insurance and VAT to the prices they quote. That's about 25% of the cost of the lens when new.
In the USA, there are at least seven lens rental outfits which have a different business model:
- BorrowLenses.com, based in California
- GlassAndGear.com, based in New Hampshire
- LensesToRent.com, based in Ohio
- LensProToGo.com, based in Massachusetts
- LensRentals.com, based in Tennessee
- RentGlass.com, based in Florida
- ZipLens.com, also based in Massachusetts
Their business model is what I plan to emulate. In simple terms this would entail:
- book and pay for lenses via the Internet;
- lenses delivered and collected by mail or courier (though local pick-up would of course be possible);
- transparent pricing;
- no deposit;
- fair prices.
For that Canon 135mm f/2 L, I would expect to be able to offer a week's rental for around £30-35, maybe even less.
And did I say no deposit?
I've had a lot of help and advice from Mark and Max, who run BorrowLenses.com, and from Roger who runs LensRentals.com. But there are a huge number of details that have to be sorted - web site, insurance, VAT registration, contracts, banking facilities, security, etc. etc. And raising the money is more than a bit scary too. This is a business that could eat through huge piles of cash.
So ... hang in there, folks. I'm working on it as fast as the day job allows.
Meanwhile, of course I'd be very happy to hear from UK photographers about what they'd like to see from the business.