Handbag Rental Business Plan

Handbag Rental Business Plan

Handbag Rental Business Plan Overview

This Handbag Rental Business Plan seeks to explore the viability of Handbag Rental Business and possible operating model if  implemented.

The idea is not 100% original since there are several of these kind of businesses in Europe, Asia and the USA enjoying different levels of success. Still like with any other business local conditions and attitudes determine the success or failure of a business. 

In Kenya too there are a few shops renting out jewelry and some few other fashion items. But this is done on a low level and none of them offers specialized handbag rental business services.

The Concept

At the very basic the business idea is largely based on the rise of many aspirational female consumers in Nairobi. These kinds of consumers want the best in everything despite their income limitations. When it comes to fashion items they also want more than they can afford or are willing to spend.

To them fashion items like clothes , shoes and handbags are a lifestyle habit driven more by social pressure, a craving to stand out and fit in. This is as opposed to practical necessity say to carry items in the case of handbags, or just be ‘part of the crowd’.

A woman in this group will wish to have a handbag for every occasion , clothes, day of the week , weather or even holiday . The biggest hindrance to achieving this is income which limits the amount she can spend on fashion goods.

Now what if there was a facility to bridge the income and aspirations of this group of female consumers by leasing out fashion items, particularly handbags so they can stand out during social events or simply satisfy their egos? Would it be a viable business? 

A handbag, to a majority of the women, is first and foremost a fashion accessory as opposed to a tool to carry items That explains the fact the necessities that a woman carries in a large handbag could fit in another 3 times smaller . That said there was a tendency to carry larger handbags on Fridays and during weekends.

The major consideration for the women willing go hire is exclusivity . They would want to hire handbags not commonly found with other women. Variety and fashion trends are also key considerations. Yes, Handbag Rental Business is a viable business but as a niche small service complimenting a handbag selling operation.

Download Handbag Rental Business Plan / guide here