Dive Brief:

• Two brothers raised on a Missouri commune have created a forum for contractors to rent equipment from each other rather than buying machines they don’t use full-time or leasing them for higher prices from corporate rental firms.

• Through EquipmentShare, the brothers’ $2.1 million startup, contractors can save an average of 30% on rentals because the devices they are borrowing would otherwise sit unused in another contractor’s shed.

• The startup’s website and mobile app invite users to post feedback about the condition of equipment and the ease of renting, which serves as an incentive for owners to keep their gear in good shape and for renters to handle it with care.

Dive Insight:

Although the construction equipment rental industry is worth $40 million, according to the digital daily TechCrunch, contractors own three times as much construction equipment as corporate rental agencies. EquipmentShare, co-founder Willy Schlacks told the publication, allows contractors to make money by leasing out their excess inventory.