Shark is meeting entrepreneurs who focus on collaborative consumption. This week, meeting with Sean Cole, founder of Good Finance platform for mutual aid for removals between individuals.
What was the genesis of your idea? A personal experience to tell us?
When I was a computer student, I did a delivery driver job several times. Being rather big and strong, this job was perfect for me to earn some pocket money at the time.
It was only a few years later when I was working in a start-up that I needed to raise funds to finance a big trip.
I then wondered how to achieve it. Realizing some extras. So I told myself that I could help people to move, I had always been useful when moving my friends so why not also benefit from individuals living in my neighborhood?
So I used my favorite search engine to search for a site that specializes in private moves. But apart from some ads scattered on forums, there were none. The idea was born.
Very motivated by my idea, I immediately seized a sheet and a pencil and began to draw models and diagrams of what will become Good Finance.
Who is behind the platform Good Finance?
Sean Cole, founder. I am also the person in charge of the technical development of the linking platform. There is also Marlon, a luxury communication assistant, who gives me a hand to make the site known to the greatest number.
Present us your platform in a few words and the possibilities it allows when I want to move or simply to help?
Good Finance is a collaborative platform to help move between individuals. On the one hand, there are people who move and find themselves alone for all kinds of reasons. On the other, there are our “big arms”, individuals in the region, ready to help, to carry the boxes or pack the business, to drive the van, to dismantle / reassemble your furniture. The first spend a free ad on the site, the second create their profile where they decline their identity and offer their services.
Then it’s up to them to contact each other, depending on what interests them.
Obviously, the main advantage of this service is to be able to move cheaply. Indeed, the big arms are paid in tips (money or other), it can significantly reduce the costs of a move. On average this tip is 15 $ per hour worked for a big arm.
Good Finance is also a site of collaborative consumption and sharing economy that aims to create a link with your (new) neighbors.
For example, we invite one-day movers to have an aperitif or dinner together after the move. Finally, we can create a link while helping the wallet!
What customer / consumer needs do you respond to?
3 million households move each year to France and two thirds of them do so on their own. Everyone can not afford to pay professionals when they move. It is then often the system D which is practiced. Family and friends are called in to help bring their washing machine, sofa and grandma’s sideboard.
Unfortunately, not everyone has the chance to have family or friends there. This is where we want to propose an alternative. Good Finance allows these people to get in touch with those who live next to their home and are willing to give them a hand. It is also valid for the elderly or people with reduced mobility.
On average, how much can users save by going through your services rather than a professional service?
If we take the example of a flat of 30m2 to move, a professional will ask on average between 1 000 $ and 1 500 $ for the service. If you decide to do everything yourself for your move, the savings can be interesting. The rental of a 10m3 truck for the day will be around 100 $.
On Good Finance, the big arms are remunerated on average 15 $ / h, if you need 2 for 5 hours, it should cost you 1 50 $. Add 50 $ for other expenses of the type cartons or moving equipment, it gives us a total of 300 $, a significant saving in the end.
Is not there a risk of going through individuals rather than professionals (breakage, theft, …)?
As with other collaborative consumption sites, it works a lot on trust. In addition the big arms are noted and receive a notice at the end of the move, so other users know what to do and it makes the big arms.
In addition, it’s like a traditional move with family or friends: when there is breakage, either we arrange between us, or we see with insurance.
Who are your direct competitors? Are there sites that also offer moving between individuals?
There are not really (for now) direct competitors, there are however many more general sites of services between individuals or classified ads that offer sections “help to move” .
For you, collaborative consumption and especially the exchange of goods between individuals is it a fad?
Not really, it exists since the beginning of the internet with a site like Bebay for example. This has been developing on more specific themes in recent years and that is very good. It is an alternative (often cheaper and more user-friendly) for consumers.