Rental of branded bags

Subject: Rental of branded bags Mon Apr 27, 2009 12:19 am

Toying with the idea of buying branded bags like LV, Blue Label and rent it out for a fee.

Anyone care to chip a thought or two?

Subject: Re: Rental of branded bags Mon Apr 27, 2009 11:47 pm

Your idea might work, but i think you should try and survey the female community about renting a used bag. Me and my friend was thinking about renting out formal wear and our teacher told us that girls mind stuff that has been used before but not guys. You may want to try targeting the male market? Just my two cents worth.

Posts : 5 Reputation : 0 Join date : 2009-04-30

Actually there is such a service already (the rental of bags). It seems to appeal to those in the yuppies crowd and the opinion leaders. So it's a very niche market. What I see that can be improved is that maybe the process can be more discreet so that the "lose face" factor is greatly reduced. The web's the best tool as there's no risk of being seen going into a luxurious goods rental shop.
Smile

Hope it helps!

Subject: Re: Rental of branded bags Thu Apr 30, 2009 11:38 am

I have heard of such services already too. There are about 2-3 companies that serve Singapore, and they are web based too.

Might be hard to penetrate the market.

Subject: Re: Rental of branded bags Wed Jun 03, 2009 4:34 pm

My 3-cts worth of opinion :
1. High capital cost - not cheap to get a wide range of products & brand and a nice shop front in high-class business area.
2. Competitive market - as there are already second hand shops. And people also buy and sell back the item in auction site.
3. Niche market - too small to substain your business. You need a social network contact to get to those people.

Subject: Re: Rental of branded bags Thu Jun 04, 2009 1:27 am

esthersoh wrote:: My 3-cts worth of opinion :
1. High capital cost - not cheap to get a wide range of products & brand and a nice shop front in high-class business area.
2. Competitive market - as there are already second hand shops. And people also buy and sell back the item in auction site.
3. Niche market - too small to substain your business. You need a social network contact to get to those people.

3-cts worth? That's new.

Well, is there any positive points to this business idea? Like the strengths and opportunities? (From SWOT, if you know what I mean)

Subject: Re: Rental of branded bags Thu Jun 04, 2009 10:21 am

Business Idea is good. Like you said, considering SWOT is very important. I think if the business starter consider the 3-points mentioned above and assess his business costing model it should be doable.

I am an implementation person. Not all good ideas can be implemented.

Subject: Re: Rental of branded bags Thu Jun 04, 2009 3:13 pm

Well Sifu, what is your take on this now that you have heard our opinion?

Subject: Re: Rental of branded bags Thu Jun 04, 2009 9:30 pm

esthersoh wrote:: My 3-cts worth of opinion :
1. High capital cost - not cheap to get a wide range of products & brand and a nice shop front in high-class business area.
2. Competitive market - as there are already second hand shops. And people also buy and sell back the item in auction site.
3. Niche market - too small to substain your business. You need a social network contact to get to those people.

Hear me out too!

High capital costs - Can try to lower down costs by getting the more popular products to rent and leaving out the "unknowns".

Competitive market - Pardon my noobness in business but the way i look at it, 2 or 3 businesses isnt going to affect much is there? Of 4 million Singaporeans, i am pretty sure theres more than enough customers for each of the mentioned business? Theres so many bubble tea shops that are still around and they are all making profits. Besides, owning a real original branded bag is definitely more costly to the consumer than renting it for a day or two.

Niche market - I believe you can try pedalling your wares on some more popular forums. For example, i found out from a friend that this is a mainly female's forum - http://flowerpod.com.sg/forums/ . I believe LV bags would appeal more to the females.

Subject: Rental of branded bag Fri Jun 05, 2009 12:42 am

My idea was to target the female teenager to like to "show " off branded bag on certain occasion but has no cash to buy and own one. I am thinking of doing on-line to save rental and market it at Poly,JC and Uni

Subject: Re: Rental of branded bags Mon Jul 20, 2009 1:59 am

How's has this being going so far?

Posts : 2 Reputation : 0 Join date : 2009-08-12

With H1N1, I'd stick to personal rather rental. Besides, what is the depreciation/maintenance cost of such items.

Posts : 2 Reputation : 0 Join date : 2009-08-12

By personal, I meant ownership of handbag rather than rent. Then again, I m not a sought after "branded" person.

Subject: Re: Rental of branded bags Sat Aug 15, 2009 12:17 am

Hi,

You might want to check out what your competitors cant provide in their service. If you can do what they cant do, you can capture new market group.

Personally, I thought this is a good idea Smile

Subject: Re: Rental of branded bags Sat Aug 15, 2009 7:27 pm

There are 3 other competitors in the market right now.

Market seems pretty tight with these 3 around already. That's my opinion. Apparently, there is no limit to how much you can make off women.

Subject: Re: Rental of branded bags Sun Aug 16, 2009 5:14 pm

samsarae wrote:: By personal, I meant ownership of handbag rather than rent. Then again, I m not a sought after "branded" person.

Well, looks like costs needs to be set aside for sterilising too.

Subject: Re: Rental of branded bags Thu Aug 20, 2009 5:27 pm

The need to sterilise is probably needed from the start.

Also need to keep the bags clean and shiny.

Posts : 19 Reputation : 0 Join date : 2009-08-26

how about rental of branded watches and jewellery?

Subject: Re: Rental of branded bags Wed Aug 26, 2009 3:15 pm

zax wrote:: how about rental of branded watches and jewellery?

Agreed. Maybe bundle the whole thing is watches, jewellery.

Posts : 15 Reputation : 1 Join date : 2009-05-05

Rental of branded watches is far too expensive. What are the precautions to take so that you will not be cheated.

Subject: Re: Rental of branded bags Thu Mar 11, 2010 10:44 pm

Hmm.. There definatly is a problem the more expensive the handbags and watches get.

If the customer spoils the watch, who will pay? What if they decide to just 'borrow' the watch forever?

Subject: Re: Rental of branded bags Sun Mar 14, 2010 4:39 pm

make them register their address or something, that way no one can run.