Ep.59 Tony & Stuart | Borrow More, Buy Less: Inside the Reading Library of Things

In this episode, Tony Cowling and Stuart Ward shine a light on the Reading Library of Things. The two founders discuss how the Library of Things adds value to the local area by providing an alternative to buying specialised tools, or other items you only use occasionally, like pressure washers, gazebos, or projectors. The discussion covers the library's role in promoting resource-sharing and sustainability, highlighting how people can borrow professional-grade tools to do jobs themselves. Tony and Stuart explain that the library has 829 items and has accumulated tools worth at least £50,000. They also share the challenges faced when setting up the organisation. Finally, we discuss the ongoing need for more members and volunteers, as well as their future goals, including the long-term goal of having four locations across Reading.   TIMECODES 00:00 Intro 00:22 What is Reading Library of Things? 01:36 How did Reading Library of Things start? 02:45 Who is Tony Cowling? 03:24 Who is Stuart Ward? 04:07 What research they did to set up Reading Library of things 05:51 The importance of governance for a group 07:12 Challenges with setting up Reading Library of things 08:40 Successes at Reading Library of Things 09:18 Membership of Reading Library of Things 11:10 Number of tools and the most popular items 12:01 What has surprised Tony about Reading Library of Things? 14:30 The importance of having the right tool to do a job 15:16 Not competitors to traditional tool hire shops and tradespeople 16:27 How you can help Reading Library of Things 17:49 Bases for other Reading of Library Things in Town Centre 19:29 Future goals for Reading Library of Things 20:14 Final thoughts   KEY TAKEAWAYS Offer tiered or value-based membership options: The Reading Library of Things offers a standard annual membership fee but also provides a free membership to those who donate a "significant tool". This model creates an incentive for people to contribute to the organisation's inventory while also attracting new members. It's a great example of a mutually beneficial business model.   The Importance of Established Governance: When starting a new venture, partnering with an existing, well-governed organisation can provide a significant advantage. The Reading Library of Things gained credibility by operating under Transition Town Reading, a UK-wide charitable network. This partnership provided them with an established governance structure. This organisational foundation proved crucial when the library applied for lottery funding, as they could demonstrate they were part of a reputable network.   Strategic Collaboration for Growth: The founders understand that working with other local groups is key to increasing their reach and sharing the workload. Tapping into other networks is also a great way to increase awareness and attract both new members and volunteers.