Modeled after Airbnb, a company launched a sharing service that connects owners of farm equipment to people who will rent these assets. Manufacturers said this is a great development, but it won't have a big impact on the established industry.

Kansas City-based data science and technology company FarmLink cloned Airbnb for its recently-launched sharing service for heavy equipment called, MachineryLinked Sharing.

Being compared to Airbnb is not a problem to the company; it even uses the comparison to explain the service. FarmLink president Jeff Dema even tells the media that their new sharing service is, An Airbnb for agriculture equipment."

As prices for new equipment continue to increase, prices for used equipment goes down. It is almost unjustifiable owning an expensive piece of equipment. MachineryLinked solves this problem by providing access to equipment when needed, and profit when it's not being used.

The concept of sharing and renting equipment is new to the agriculture industry. It lets ag retailers, equipment dealers, and co-ops post their equipment online to have it leased when idle.

The owners of the equipment will set the leasing prices for their assets, and FarmLink will take a percentage from the lease.  For people who don't have the equipment they need.

They can simply rent these assets without having to buy them. Presently, there are 16 co-ops and ag retailers that have signed up for the service. The sharing service will be available for individual farmers by fall.

Commodity prices are increasing and farm profits declining from 2013's peak $124 billion, making farmers look for ways to make more money from their combines and heavy equipment. These assets cost hundreds of thousands of dollars to purchase and maintain, which is why making money out of it is imperative.

MachineryLinked provides 24/7 customer service, including maintenance and repair. It also offers John Deere and Case IH combines.