McPond, a peer-to-peer platform based in Chicago, lets manufacturers list their idle machines for rent.
The manufacturing sector forms the backbone of industrialized economies. With the amount of capital it takes to start-up, many entrepreneurs and companies never get off the ground. Giving temporary access to industrial manufacturing equipment can cut investment costs or increase production for a new or established company. Meanwhile, companies with equipment sitting idle, can earn passive income by listing their machines for rent.
The birth of the sharing economy model started in the transportation sector with the emergence of ride-sharing agencies like Uber. Users soon realized the benefits of this service outweighed the cost and inconvenience that often comes with owning and or driving a car, and drivers were able to procure additional income. The accommodations sector with Airbnb soon followed. The concept of sharing machines has emerged as a new and revolutionary tool in the business world.
McPond lists industrial machines of all kinds as the new frontier to be shared.
"Having had the opportunity to work in family-based manufacturing business for years, I realized that the companies can make money from their idle machines," says founder Rigved Raut. "At the same time we want to inspire companies and entrepreneurs who cannot justify or afford to invest in machinery -- or the upgrading of equipment that does not meet requirements for their specific projects, to have affordable access."
By collaboratively consuming manufacturing assets, overseas outsourcing can be avoided, and this will inspire manufacturing and stimulate local economic growth. McPond currently lists machines in states as far away as Ohio, Maryland, Florida, and Colorado. Machines vary from 3D Printers, CNC Machines, Jig Mills to Burn off Ovens. The idea benefits everyone involved in the manufacturing sector. Lenders get more value out of their assets and generate passive income, while those renting get immediate access to machines and an ability for larger workload.
"Access over ownership is the trend of the future," says co-founder, Albert Burgos from Chicago, who has 35 years in manufacturing industry. "Making redundant hardware useful in generating greater economic activity is advantageous to both producers and consumers. We want to build trust between the two and ourselves making safety and care of the property our top priority in customer service."
Perry Kuehn, of K Tooling in New York has used the service and believes that McPond.com is a revolutionary concept that will benefit the manufacturing industry as it offers revenue streams other than sub-contracting and job work. Meanwhile, Shani Bajraktar with Southern Winding in Tampa Bay, Florida extols not only the financial benefit of the concept but, "the equipment is safe, doesn't leave our premises and we feel we are at the forefront of moving industry forward."
The capacity of online services to enable the sharing of products and services to reduce the cost of capital investment and/or maintaining them has created the phenomenon known as the sharing economy. McPond is poised to enter the future of manufacturing and the new industrial revolution by encouraging with its platform: inspiring manufacturing, efficient use of resources, supplementing incomes and enhancing social interaction within the industry.
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