My construction machine is your construction machine - marketing construction machinery

Construction machinery costs a lot of money and are idle most of the time - so why not rent them out in between? At the University of Bremen, a concept has emerged on how to market unused construction machinery: through a new online rental platform. As part of their studies, Manuel Kimanov and Revazi Chikviladze were tasked by their professor to develop new business models within the so-called "Sharing Economy." Professor Sven Voelpel, who teaches Business Administration and Innovation at Jacobs University Bremen, is well-versed in the Sharing Economy. During their research, the two students found that construction machinery at construction companies is only used about half of the time, either because there are no current orders to fulfill or the machinery and equipment are only needed for specific tasks. Tower cranes in particular are said to be idle up to 75 percent of the time. The idea: Market unused construction machinery The professor and his students aim to consolidate this unused potential on an internet-based rental platform and offer it for rent to other construction companies. For the owners or renters of construction machinery or equipment, renting out provides an additional source of income, while for users, it offers a cost-effective rental option. The construction machinery on the rental platform can be offered at a lower cost because they do not need to be purchased, as they are already available with the construction companies, according to Professor Voelpel. "It's a classic win-win situation," says Prof. Voelpel, who encouraged the two students to turn the idea into a business concept. The new company is called Sharemac, and he intends to support it as the Chairman of the Board. Professor Voelpel became aware of the two students because they are among the best in his courses. The 23-year-old Bulgarian Kimanov, who was a well-known basketball player in his home country, came to Italy at the age of 15 to continue his sports career. In Professor Voelpel's team, he was responsible for formulating the business plan that convinced potential investors. The 19-year-old Revazi Chikviladze from Georgia has already gained knowledge about construction machinery from a construction machinery rental company and is considered one of the best in the study course. Besides his passion as a drummer, he has developed a fondness for construction machinery, which benefits him in categorizing the machinery and building the construction machinery database. Notable personalities on the advisory board Voelpel has also secured the collaboration of computer specialist Ben Kebdani and psychologist Jörg Schumann. Arne Stehnken is responsible for finances, also working as a financial advisor for Deutsche Bank. He has attracted the first investors, giving Sharemac a quick start. As committed advisors to Sharemac, Prof. Dr.-Ing. Thomas Bauer from Bauer AG Schrobenhausen and Dr. jur. Wolfgang Bayer, Managing Director of the Construction Industry Association of Lower Saxony-Bremen, are actively involved. Additionally, network specialist Prof. Dr. oec. Julia Bendul and global markets expert Prof. Dr. Tilo Halaszovich contribute. Ströer handles sponsored advertising, and Allianz provides insurance. Professor Voelpel has already piqued the interest of several construction companies. "Each new participating company increases the number of rentable devices," says Voelpel. Thomas Echterhoff, managing partner of Echterhoff Bau-Gruppe based in Westerkappeln near Osnabrück, is an early supporter. "I was convinced by the professional setup of the project," says Echterhoff. The exchange of construction machinery among construction companies is not uncommon, so he sees no issue with the respective branding on the rentable machinery. Platform set to launch in May Voelpel has already convinced associations like the construction industry associations of Lower Saxony, Bremen, and Bavaria of his idea. To kickstart their GmbH, the stakeholders have secured venture capital and plan to seek European financial support. However, there is still much to be done before the platform goes live in May. Currently, a team is working diligently on the online registration of construction machinery based on the equipment list. The system will later provide information on the condition of the machinery. Through tracking sensors, constant monitoring of the equipment's location will be possible, ensuring protection against theft. Transport and insurance of the rented machinery and equipment will be guaranteed. In case of repairs, the owner will decide the course of action. The goal is to have a unified database. The company plans to launch in May this year initially in Bremen and Lower Saxony. "We hope to benefit from being the first mover and aim to play a leading role in digitalization and the Sharing Economy," says Professor Voelpel.