bizEDGE New Zealand logo
Story image

New peer-to-peer platform aimed at Kiwi contractors

The construction sector can now dip their toes into the peer-to-peer sharing world, with a new platform being launched in Auckland aimed at connected contractors.

Missouri-based company EquipmentShare offers contractors an online peer-to-peer platform for sharing construction equipment such as excavators and bulldozers.

Michael White, general manager New Zealand, says EquipmentShare, a New Zealand first in the construction sector, is all about creating shared value and efficiency.

“It’s all about maximising the value of unused assets. Our online platform allows contractors to rent their equipment to others within the industry, creating an income from otherwise unused equipment between jobs,” says White.

The company takes care of all the logistics, including payment processing, delivery, maintenance, and insurance.

White says the new platform offers benefits to companies of all sizes across the industry.

“Our service provides simple access to a wide range of equipment at very competitive rates compared to those of traditional rental companies,” he says.

“This will be especially beneficial to smaller contractors, where every dollar counts.

“The service also introduces contractors to a new way of operating that drives efficiency,” says White.

“The current equipment ‘modus operandi’ for large construction companies is inefficient as they have no choice but to be geared for the peaks and inevitably over-gunned the rest of the time,” he explains.

“Our lending model hopes to smooth these peaks and troughs.

“Every day that a piece of machinery sits still it costs the owner money in interest, maintenance, insurance and storage. Our aim is to make owning machinery more economical, and expansion and upgrade of a fleet more achievable,” White says.

White says expansion into markets beyond Auckland is on the cards.

“Right now we’re looking for partners to help us expand quickly to Christchurch."

The company is also targeting Hamilton and Tauranga in the coming months, he says.