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Short term Rental - Designerwear

Discussion in 'Ideas, Needs, Concept Feedback' started by AidenRafi, Nov 8, 2018.

  1. AidenRafi
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    AidenRafi New Contributor Read Millionaire Fastlane

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    Hi Guys,

    I have a new idea based on an issue I have had recently.

    I design clothes in my spare time and I am very much a fan of designers/designerwear

    Yet I can't afford to purchase most of the stuff I like.

    If there was a place I could rent certain designer wear for a week or so I would use this service.

    Below is an outline of the idea in terms of problems and solutions:

    Problem - clothes are getting expensive
    Solution - rent designer wear for short term

    Pros - lenders can make money off their wardrobe
    - renters can save money by renting instead of owning

    Cons - Fraud is a roadblock
    - Very niche - Is the market big enough to be profitable?

    Does anyone have any thoughts on renting/lending and other roadblocks I might have in this industry?

    Thanks
     
    Xeon likes this.
  2. Davejemmolly
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    Davejemmolly Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I’ve seen similar stores in a Formal wear / ball gowns / school formal space, though this appears to be a more boutique shop (Mum and dad type operation)

    Pretty sure I’ve also heard of an online store that does a similar ‘rent’ option with handbags.

    Hope this helps
     
    Xeon likes this.
  3. becks22
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    becks22 90% coffee, 10% everything else Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    For men or for women? Rent the Runway is pretty popular for females. I've rented from them a few times for weddings I had to go to. They do formal wear and accessories.
     
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  4. AidenRafi
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    AidenRafi New Contributor Read Millionaire Fastlane

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    It will be for men initially and then maybe move to women.
    I am focusing on men because there is not a lot in this sector focusing on them.
    Also the company will be focused on all kinds of wear rather than focusing on formal wear.
    I am sure you rented off a company and they hold the product in their own warehouse.
    Where my company is differs is that two users of the site will be conducting a transaction between each other and the company will simply be the place where the transaction takes place. Therefore focus would be on safety, anti-fraud and ease of use.
     
  5. AidenRafi
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    AidenRafi New Contributor Read Millionaire Fastlane

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    I understand that some stores do this but mine will be more of a transactional base then a retail store. I will simply be connecting renters and lenders.
    Also focus will not be solely on formal wear but rather all kinds of high end designer wear.
     
  6. Bekit
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    Bekit Bronze Contributor Speedway Pass

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    Ann Taylor is doing something like this for women's clothes. "Our closet is your closet" is the concept. You order things to rent, send them back when you want, and shipping is free both ways. It's set up to be super simple, and it gives you a humongous rotating supply of classy business clothing (not formal wear) at a reasonable price point.

    There's another women's clothing line called M.M La Fleur that offers "clothing bento boxes" - similar concept.

    I've never subscribed to either one, but if women's brands are succeeding at this, I don't see why a men's brand wouldn't. It might be worth looking into how these brands are doing it in case you want to borrow any tricks from their playbook.
     
    Jello likes this.

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