The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Self-Promotion Saturday Now Live!

    Have something to sell? Want to promote your design service or a YouTube channel? SELL-ME SATURDAY is your opportunity to self-promote anything within the sphere of entrepreneurship on one thread... and at no cost. Go There
    Note: Indiscriminate SEO backlinking to questionable material is not allowed.
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

Short term Rental - Designerwear

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

AidenRafi

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Mar 1, 2017
32
32
112
Sydney
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
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Davejemmolly

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 1, 2018
105
234
162
Australia
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
 

becks22

90% coffee, 10% everything else
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 6, 2016
477
1,286
418
28
Upstate NY
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.
 
OP
OP
AidenRafi

AidenRafi

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Mar 1, 2017
32
32
112
Sydney
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.
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.
 
OP
OP
AidenRafi

AidenRafi

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Mar 1, 2017
32
32
112
Sydney
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
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.
 

Bekit

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Aug 13, 2018
761
3,530
863
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.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Fox' Web School's "Legend" Group Coaching Program 2020
For those with the "can web design be Fastlane" question this video by @MJ DeMarco is a great...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Out of curiosity, what types of businesses are you advising on? (I read this whole thread...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom