Abstract: This paper aims to develop a conceptual RentMyThings business model. RentMyThings is a mobile application and digital platform which is designed to address key challenges, pains, gains and jobs to be done by two customer segments which are owners of the items such as cameras, sports equipment, and electronics and the renters of the items. The main challenges of our business model are to identify high cost of ownership for short-term usage and limited access to affordable rental options. These challenges align with our national agendas such as MyDigital, 4IR Policy, Budget 2026 and the 13th Malaysia Plan (13MP) particularly to promote digital economy growth and sustainability The methodology uses a Design Thinking approach which includes literature review and benchmarking similar platforms using the Business Model Canvas. The paper also develops an initial business model prototype using Environment Map, Business Model Canvas and Value Proposition Canvas along with the high functioning digital platform prototype. The prototype is validated by users followed by the development of a Strategy Canvas to compare with existing market players. The findings show that RentMyThings acts as both gain creator and pain reliever by enabling cost savings, convenience, secure transactions and income generation which promote sustainable practices. This paper contributes by proposing a validated conceptual business model integrating digital solutions with user centric value creation. Future work will focus on developing a full business plan based on the validated model.
Keywords: Business Model Innovation, Responsible Consumption and Production, Digital Platform, Business Model Canvas, Value Proposition Canvas, Design Thinking.
Title: A Conceptual RentMyThings Business Model: A Digital Peer-to-Peer Rental Platform
Author: Wan Hana Humaira, Aisyah Syazana, Nur’alya Farisya, Nur Alya Nabilah
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
Vol. 14, Issue 1, April 2026 - September 2026
Page No: 371-386
Research Publish Journals
Website: www.researchpublish.com
Published Date: 14-May-2026
