|
|
| Author |
Message |
Sifu
Wise Old Man
Posts: 10
Reputation: 3
Join date: 2009-04-26
|
 Subject: Rental of branded bags  Sun Apr 26, 2009 11:19 pm |
|
|
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?
|
|
 
|
|
Moderator
Head Moderator
Posts: 38
Reputation: -1
Join date: 2009-04-18
Age: 21
Location: SG, Ang Mo Kio
|
| Subject: Re: Rental of branded bags Mon Apr 27, 2009 10:47 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.
|
|
|
|
|
Rey
Posts: 5
Reputation: 0
Join date: 2009-04-29
|
| Subject: Re: Rental of branded bags Thu Apr 30, 2009 3:22 am |
|
|
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.
Hope it helps!
|
|
|
|
|
SSuF Admin
Admin
Posts: 351
Reputation: 5
Join date: 2009-02-25
Location: SG, Bishan
|
| Subject: Re: Rental of branded bags Thu Apr 30, 2009 10:38 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.
_________________
Its Forum Creator here! 
Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.
|
|
|
|
|
esthersoh
Talented Junior
Posts: 60
Reputation: 3
Join date: 2009-06-03
Location: Singapore
|
| Subject: Re: Rental of branded bags Wed Jun 03, 2009 3:34 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.
|
|
|
|
|
SSuF Admin
Admin
Posts: 351
Reputation: 5
Join date: 2009-02-25
Location: SG, Bishan
|
| Subject: Re: Rental of branded bags Thu Jun 04, 2009 12:27 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)
_________________
Its Forum Creator here!
Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.
|
|
|
|
|
esthersoh
Talented Junior
Posts: 60
Reputation: 3
Join date: 2009-06-03
Location: Singapore
|
| Subject: Re: Rental of branded bags Thu Jun 04, 2009 9:21 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.
|
|
|
|
|
SSuF Admin
Admin
Posts: 351
Reputation: 5
Join date: 2009-02-25
Location: SG, Bishan
|
| Subject: Re: Rental of branded bags Thu Jun 04, 2009 2:13 pm |
|
|
Well Sifu, what is your take on this now that you have heard our opinion?
_________________
Its Forum Creator here!
Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.
|
|
|
|
|
FireBlazen
Talented Junior
Posts: 74
Reputation: 1
Join date: 2009-05-29
|
| Subject: Re: Rental of branded bags Thu Jun 04, 2009 8:30 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.
|
|
|
|
|
Sifu
Wise Old Man
Posts: 10
Reputation: 3
Join date: 2009-04-26
|
| Subject: Rental of branded bag Thu Jun 04, 2009 11:42 pm |
|
|
|
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
|
|
|
|
|
inle
Rising Star
Posts: 161
Reputation: 2
Join date: 2009-06-28
|
| Subject: Re: Rental of branded bags Mon Jul 20, 2009 12:59 am |
|
|
|
How's has this being going so far?
|
|
|
|
|
samsarae
Posts: 2
Reputation: 0
Join date: 2009-08-12
|
| Subject: Re: Rental of branded bags Thu Aug 13, 2009 9:39 am |
|
|
|
With H1N1, I'd stick to personal rather rental. Besides, what is the depreciation/maintenance cost of such items.
|
|
|
|
|
samsarae
Posts: 2
Reputation: 0
Join date: 2009-08-12
|
| Subject: Re: Rental of branded bags Fri Aug 14, 2009 8:37 am |
|
|
|
By personal, I meant ownership of handbag rather than rent. Then again, I m not a sought after "branded" person.
|
|
|
|
|
Wealth Creator
Talented Junior
Posts: 85
Reputation: 2
Join date: 2009-05-03
Location: West Singapore
|
| Subject: Re: Rental of branded bags Fri Aug 14, 2009 11:17 pm |
|
|
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
|
|
|
|
|
SSuF Admin
Admin
Posts: 351
Reputation: 5
Join date: 2009-02-25
Location: SG, Bishan
|
| Subject: Re: Rental of branded bags Sat Aug 15, 2009 6:27 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.
_________________
Its Forum Creator here!
Hope you all enjoy the forum! Let's learn, contribute and grow, SG entrepreneurs.
|
|
|
|
|
|
|
![Singapore Start-up Forum [SSuF] -- Connecting Entrepreneurs](http://i89.servimg.com/u/f89/13/79/30/35/orange13.jpg)
Home 
FAQ 
Search 
Register 
Log in 
