Renting has been around for many decades with the most common items being high priced items such as cars, heavy machinery, and living spaces. But what about that high priced piece that you know for sure will only be ‘in season’ for a coupe of months? This has led many entrepreneurs to realize a gap in the market that needs to be filed.
There are many clothing rental businesses springing up online and offline. These provide a valuable opportunity to both the business and the consumer. Let’ stake a look at some of the different aspects of the clothing rental business and also we will take a look at some of the advantages and disadvantages.
Running a clothing rental business is very similar to any other type of rental business. You can specialize in a particular product such as jeans or shoes, higher ticket items such as expensive dresses, or in unique pieces such as rare handbags. The possibilities are endless.
Many clothing rental retailers will have a set price based on a daily rate with an option to extend your rental. There is also a deposit that is usually required when completing your order, just incase there is any damage to the item.
As a customer is always right, there is a huge incentive to provide value added service. This service is usually included in the price which can really benefit future sales. You as a customer will surely appreciate value added services such as an included scarf or hat with the rental of say a dress.
Also, renting clothes will save you lots of money, especially if you intend to wear the item only once or twice. This is really more common than most people think, because fast fashion puts pressure on many to keep up with the trends. Just as quick as clothes are bought, the fashion trend has changed.
The main disadvantage to renting clothes is that you do not own the item. Maybe after renting the item, you realize that you do not want to give it back..well too late now. If you keep it then the full retail price of the item will be charged to you anyway. This can be seen unfair to people but the fact of the matter is that rental clothing retailers need to safeguard their inventory and deter losses.
With clothes you own, whenever there is damage you can just simply sew and fix it. But with rental clothing this is not the case As with lost rental clothing, the retailer will keep the deposit and may charge you for extra costs. Be aware of this before renting clothes if you are prone to damaging or losing clothing.
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