NEIGH – The Startup Who Founded The Best Tool Rental Service
August 17, 2022
After 5 weeks at the LaunchX program, our team developed and launched Neigh. For communities in need of safe, inexpensive, and efficient tool rental, Neigh is the easy-to-use community-based app through which neighbors can list spare tools for rent and borrow others’ tools. The process of launching a company was not easy, but with our 4 amazing founders, it was filled with excitement and curiosity.
Behind The Name – Neigh
Neigh, short for neighborhood, represents our goal in connecting communities through our tool rental system. Additionally, Neigh, commonly used to describe the sound a horse makes, reflects our promise to have speedy delivery and reliability like a horse.
How Neigh Works
One thing we’re very proud of is the sheer simplicity of our service, with our easy-to-use web app and many useful functions implemented for the convenience of the user.
At the very core, there are 2 users like any economy company (ex. Airbnb, Uber), with an added vendor user. One user is a borrower, one is a lister, and one is a vendor.
Their roles are as follows:
- borrowers rent tools that have been listed near them
- listers list out their tools for others to rent
- vendors are typically companies (with no current rental system) that want to rent out their tools.
With many added functionalities for the users’ convenience like…
- distance filters (close-far)
- price filters (cheap-expensive)
- tool type
- price comparisons (with other alternatives like Home Depot and Lowes)
- many more to come!
Neigh is the perfect combination of simplicity and functionality.
Summary of Findings
One door at a time and one call at a time, we were able to spread the word of NEIGH to family, friends, and neighbors. As homeowners ourselves, we understood their frustrations, so we were able to successfully market our solution, and encourage them to sign up to test out our MVP.
After directing them to our easy-to-use MVP, they were given the option to sign up for our service, as well as being offered our $15 introductory offer, granting them 5 transactions with no commission fee.
With our successful promotion, 18 out of the original 26 interested signups purchased our introductory offer, letting us exceed our original revenue goal with a total of $270.
Conclusion of Learnings
#1 – Have Good Market Research and Pushing Your Boundaries
When doing market research, you’ll learn that rather than surveys and questionnaires, you need to conduct interviews and make many cold calls and emails. This can be difficult though, since cold calls and emails are often rejected, and interviews can be hard to schedule and lead. Market research was an essential process in our entrepreneurial journey, so we had to learn to push our boundaries and put ourselves out there.
#2 – There is no “final step” in anything
Whether it’s designing a website, product, or even just finalizing your pitch, there will never be the perfect version or the final iteration. There are always ways you can improve what you’re doing, and by being open to feedback from customers, the market, and mentors, you can always find a more efficient or cost-effective way to approach something. So always be open to feedback from others, even if it’s negative, and constantly improve your product and yourself!
Connect with Neigh
If you have any questions or comments, or just want to learn more about Neigh, visit and contact us below:
Customer Support Email: firstname.lastname@example.org
App Email: email@example.com
Are you an ambitious high school student who wants to start your own company? Start your LaunchX Journey today!