Lendr Launches its App!
It was a typical day for second year university students, Ryan Frampton and Drew Mortensen.
The temperature outside was dropping, the leaves were changing colour, and Ryan and Drew were spending their first Saturday of the fall semester lounging at home, full off KD, brainstorming how they could get text books without breaking their bank.
During their quest of exploring options, they realized a problem.
There really were no viable rental options for people in the Guelph community – not just for text books, but for anything!
Neither Ryan nor Drew had any idea what would come of that moment. And if you told them, then and there in their University student house, that they would one day be cofounders of a digital app company, managing a team of six staff who report into them, they would have thought you were crazy.
Fast forward to October 1st 2018, and what would have seemed like an unreliable psychic predication – was a reality.
Ryan and Drew were surrounded by their enthusiastic team, pizza and champagne as they hit the launch button on their Lendr App.
Lendr App quickly and easily locates, compares and rents products from people in your area in a safe and secure way. Simply put it provides a way for lenders to make extra money by renting their everyday items, and the borrower to have access to what they need at a low cost.
“The official launch has been the most exciting part of the three-year journey” states Ryan.
Within moments of the champagne popping, huddled around their smart phones, they watched as a “tool kit” was selected and checked out by someone in the Guelph area. That moment was the recognition that Ryan, Drew and the rest of the team needed to validate the hours and hours of work that had been put into customer validation, app development and marketing.
“There is still lots of work to be done to continue to grow the business, but it was so exciting to finally be a part of something real”.
Ryan’s drive and hard work is apparent. He started Lendr App, while completing his undergrad, and has continued to work on it while also having multiple side hustles. Even given his intrinsic motivation and intuitive drive, Ryan’s not shy to admit that their biggest challenge was getting started.
“As an entrepreneur the to-do list can be really daunting. We really needed to focus on what needs to be done today and tomorrow. You need to have your long-term vision, but it really helped us to focus on tackling the manageable daily to-do lists and then move on to tomorrow.”
Ryan and Drew’s hard work is deeply connected to their success, but the University of Guelph’s Centre for Business and Student Enterprise (CBaSE) also played a role. After successfully applying to the Hub Incubator program, their company quickly moved from the ideation stage and into implementation. Through the funding and mentorship that CBaSE provided they were able to learn how to build a product that their customer would want to use, and how to execute on their idea.
Their biggest piece of advice that Ryan and Drew would give to University students who are aspiring entrepreneurs is to make sure your business idea has a customer.
The best advice the Lendr team ever got was to quantify their problem and confirm there was a need.
If you want to make some extra money or see what you can rent through Lendr’s app, don’t wait! Download it now through the App Store or Google Play! Check out Lendr's website to learn more! Click on the video below to hear more about their journey!