Opening an Online Clothing Rental Business: Q&A
Most people have clothes they wore only once, e.g. prom dress, ball gown or a wedding dress. The saddest thing is that these garments probably cost them a lot. Wouldn’t it be nice to put them to good use and make some money? How about a clothing rental business? Can’t afford the rent and other expenses? Well, how about an online clothing rental? You can start small and the risks aren’t that bad. Still not sure? Perhaps we could help you change your mind.
Start-up capital? You don’t need a great deal of money to start this type of business. You can operate from the convenience of your home and save on the rent. And if your wardrobe already has quite a number of items you could use for your business, you save even more.
How about the niche? Your primary focus should be on high school or college age women.
What skills may come in handy? Basic or advanced computer skills, inventory management, communication. Minor sewing skills wouldn’t hurt either.
What about the website? You don’t need a highly sophisticated and expensive website. There are so many ready-to-use templates and platforms out there. You could have your site up and running in no time. And your expenses would be minimal, especially if you’re tech savvy or have a friend who could help you out.
Marketing and advertising? No biggie! There are ways to do most of it for free. Spread the word through your friends and neighbors, use social media, start a fashion blog. You could also use some sort of a referral program and/or offer a discount for customer reviews.
What sort of agreements/arrangements will I need? Do some research of clothing suppliers, including wholesalers; negotiate mutually beneficial terms. Renting clothes means minor wear-and-tear, so you need an arrangement with a local dry cleaning service and a tailor, preferably with good discounts. Orders outside your local area will require reliable shipping.
Are there any additional ways of saving money? Yes, if you’re good at negotiating. Wholesale discounts, purchasing the items over time as they are rented. If you learn basic sewing skills, you could make minor repairs yourself. It may be a good idea to buy used garment racks and fixtures.
Anything else? Establish a clear policy on what condition the items must be returned in. Get security deposits on the items. Consider renting both clothes and accessories.
Good luck with your business! And if you’re already looking for a reliable wholesale supplier, smcfashion.com is always there for you.