Established in April 2019, RentLite is a pioneering start-up, on the quest of revolutionizing the buying behaviour for workspace products. Spearheaded by Kush Jawahar and Kiran Chellaram, RentLite helps to solve the CAPEX and OPEX related concerns for young entrepreneurs and corporates alike.
Buying workspace furniture can be capital intensive, especially for a boot-strap start-up or a growing SME, where manpower is exponentially dynamic. Further defining the nature of workspace setups can be tiresome and time-consuming. It is from this experience, that we came up with the concept of Rentlite, because why buy when you can rent? With the transforming taste, needs and requirements of consumers, renting furniture has become a millennial need.
Rentlite not only offers an assortment of design possibilities but flexible finance options for the users.
The idea of rental furniture is not new; however, the potential market surpasses the redundant past estimations. Thus, renting furniture is not only suitable for a short-term but has more profitable farsighted attributes. Renlite’s distinct furniture configurations like chairs, workstations and pedestals can be rented for an affordable amount serving to the commercial flexibility for its consumers. Since all furniture rented out is manufactured by India’s leading furniture manufacturer, Featherlite, the consumer is sure of uncompromised quality and durability. With our vast experience in commercial design with Featherlite, we have gathered expertise in quick and hassle-free office furniture renting aiding ease of Plug and Play setup.
At Rentlite we believe renting is key for modern entrepreneurial professionals looking for fast-paced office set-up. So why buy when you can rent from Rentlite and transform your workspace into a collaborative space for creative minds!
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Sustainability
Rentlite believes in conserving the environment through eco-friendly practices. All our furniture is manufactured in solar-powered factories and produces minimum carbon footprint emissions further reducing environmental pollution.
Business
Currently, the company is generating monthly tangible business over 10 Lakhs with an average tenure period of 24 Months. The company intends to achieve a monthly business of 1 Cr. by the next financial year 2020.
Completed Projects
RentLite serves a mixed bag of clients including individuals, SMEs and Corporates. It has completed 2 MNCs in Bangalore plus 9 start-ups in Food Processing, Construction, Recruitment Technology and the Aviation Industry. It has also served 3 MNC’s into Financial Services, Digital Marketing and Tele-Communication Service Provider in Delhi NCR while other projects comprise of 2 MNC’s in Investment Banking and 1 Milk Delivery start-up in Pune. Other than this RentLite caters to over 8 individuals who own commercial Establishments. These customers have used RentLite’s services to transform the property into a fully furnished Plug – n – Play Office Space.
Market Growth
Rentlite’s research pegs the global furniture rental market at anything between $5-8 billion. The idea of ownership has been superseded by the aspiration of better experiences by leasing or sharing resources. The growth in mobility and intra-country migration has led to a large and ever-growing clientele of urban professionals with transferrable jobs and disposable income. In the last decade, leasing/renting of home durables has seen steep growth due to a streamlined market facilitated by digital marketing.
The global furniture market is dominated by domestic furniture accounting for 65% of production value. These consists of beds, closets, and other household furniture items. Followed by office furniture and hotel furniture accounting for 15% each. Office furniture consists of furniture used in corporate office, mainly tables and chairs, whereas hotel furniture is deployed in hotels and are very similar to household furniture with design and finesse. Lastly, furniture parts constitute 5% of production value which constitutes of table bases, closet doors, sofa legs, etc.
The furniture rental market is expected to grow at a robust rate over the next 5 years (2019-2024). The primary factor responsible for the growth is an increase in the number of employers that are incorporating rental furniture into their corporate mobility policies as a core service offering. The practice of renting instead of purchasing furniture has proven to be beneficial for consumers because of lower price with reduced expense and maintenance which will drive the furniture rental market size. The industry is driven by wide ranging macroeconomic factors, such as the number of businesses operating domestically, the unemployment rate and the business sentiment index, all of which are expected to get better during that time frame. Growth in the number of businesses stimulates the demand for office furniture. Moreover, as the unemployment rate falls, demand for office furniture is anticipated to rise, as businesses require furniture for new employees.
