Renting Out Clothes
Our Side Hustles Breakdown
For fashion enthusiasts with an overflowing wardrobe, renting out clothes can be a rewarding venture. It provides others with affordable style options while offering hosts a chance to earn. We laud this hustle for its sustainability and potential income. However, a primary concern is ensuring items are returned in the same condition and handling possible damages.
- Potential Damage: Risk of stains, tears, or misuse.
- Maintenance: Regular cleaning and potential repairs.
- Inventory Management: Keeping track of items and their conditions.
- Sustainable Fashion: Encourages reuse and reduces waste.
- Rotating Wardrobe: Can swap or change items based on trends.
- Broad Market: Appeals to those attending events, interviews, or special occasions.
If you’re a designer or fashion enthusiast, you probably have some outfits in your closet that you hardly wear. Well, no need to feel guilty!
Instead of selling them online to afford the others on your wishlist, you can start a side hustle by renting out clothes online. Check out this guide to learn how you can turn your dresses or entire wardrobe into investments.
An Overview of Renting Out Clothes: A Primer
Renting out clothes online is all about lending your stylish attire to others for a fee. Instead of your trendy outfits gathering dust waiting for the next perfect occasion, they become a source of extra income.
All you need to do is join a clothe rental marketplace, create listings, set rental prices, and voilà – your clothes are up for grabs.
Why is this clothing rental trend booming? Well, most people, especially women, prefer renting a special occasion dress or outfit rather than buying it for a single wear. That’s why online clothing rentals are popular and thriving today!
How Much Can Renting Out Clothes Earn You?
You can earn a few dollars and up to thousands from your rented clothes. Generally, the retail value of the outfit and label determine the rental price. Most peer-to-peer renting platforms recommend setting your rental price for each item at 10–30% of the total retail price.
If you list timeless designs, nearly new designer items, or popular styles, your outfits can pay for themselves within months! Remember, people are always looking for high-quality items for one-off wear.
Also, the more items you list (including bags and jewelry) and the longer the rental period, the more money you can make. The lenders who earn thousands of dollars often have 50+ listed items.
To ensure you get maximum returns, you can rent items for a minimum of three or four days.
How Much Does it Cost to Start Renting Out Clothes as a Side Hustle?
Starting a clothing business from home, especially renting out what you already own, doesn’t require much capital. In fact, your startup costs could be close to zero if you already have a few quality pieces or high-end labels in your wardrobe.
Start by listing what you have. You can then expand your wardrobe and become a professional fashion shopper using the earnings from your renting business.
When expanding your collection, consider buying items out of season. That way, you can get highly sought-after pieces at discounted prices and recoup the costs after lending them several times.
You should also consider dry cleaning, transport, and packaging materials costs.
Where Can You Rent Out Clothes?
The easiest way to start this side hustle is to join peer-to-peer platforms. They already have renters with reviews—meaning it’s safer, and you don’t need a hefty marketing budget. You can also choose independent avenues. Here’s an overview of both options.
Social Media and Personal Website
Leverage platforms like Instagram and Facebook to showcase your wardrobe and attract potential renters. Create engaging posts and stories to reach a broader audience. You can also set up a personal website or blog to list your items, share fashion tips, and connect directly with renters.
Tulerie is a peer-to-peer clothing rental platform that allows you to list your gently used designer shoes, dresses, bags, accessories, and other clothing items.
When someone requests to rent your item, you’ll get notifications that you must accept or cancel within 24 hours. Tulerie offers shipping labels, but you have to drop the package at USPS yourself.
The platform also charges borrowers a cleaning fee. This way, you’re responsible for cleaning your items and ensuring it’s done right.
And if you’re looking for where to sell clothes that you no longer wish to rent out or wear, Tulerie has you covered.
By Rotation is another clothes lending platform that allows you to list items from different brands.
Once your items are listed on the shop, you’ll get notifications as renters browse and develop interest in your listings. You can either approve or decline the requests after reading the renter’s message and checking their profile on the site.
If you accept a request, you can ship the item or organize with the renter how and where they’ll pick it up from. By Rotation processes your payments within 8 to 10 days after the rental period.
Why You Should Consider Renting Out Clothes As a Side Hustle
Not sure if you’re ready to share your garments with strangers? Here are a few compelling reasons to dive into this fashion-forward venture:
- Boost Your Income: Earn money effortlessly by sharing your existing wardrobe, turning fashion passion into profit.
- Low Startup Costs: Compared to traditional businesses, the initial investment is minimal, making it accessible to most fashion junkies.
- Ready Audience and Platforms: Numerous user-friendly online platforms simplify the process of handling transactions, insurance, and logistics.
Problems With Renting Out Clothes
While renting out clothes can be a lucrative side hustle, it’s not without its challenges. Here are three reasons why this might not be the ideal choice for everyone:
- Wear and Tear: Renting can accelerate the wearing of your outfits, potentially diminishing their value.
- Risk of Damage or Loss: The risk is less high-stakes than renting out your car, but your rented items could get lost in transit or damaged by the renter. Luckily, reliable clothing rentals services charges the renter the full retail price if they damage the item beyond repair.
- Logistics and Shipping: Managing shipping and returns, especially when the item doesn’t fit the renter, can be time-consuming and expensive.
Frequently Asked Questions
Where Do Celebrities Rent Clothes From?
Celebrities often turn to high-end designer rental services, brands, and personal stylists to source their clothing for red carpet events, photo shoots, and public appearances.
Why Do People Rent Clothes?
People rent clothes for various reasons, including affordability, sustainability, and variety.
Renting provides access to high-end fashion without the hefty price tag, reduces fashion waste by extending clothing lifecycles, and allows for frequent wardrobe changes and experimentation with different styles for one-off special occasions.
If you have clothes that would make someone win a “best-dressed” guest mention at a wedding, birthday party, graduation, holiday, or any other occasion, try renting them. You can possibly create a steady source of income from this side gig. Besides lending your wardrobe, you can also rent out baby gear and other items you no longer use.