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There are
several reasons why someone would need to a costume. Not discounting
Halloween. There is also costume parties, birthday parties, plays and community
events.
As a result, the person who owns a costume rental business can really clean up
in how much they make, especially if they are based out of a city with a good
market for it. Owning a costume rental business can be a lot of fun. You are
surrounded by costumes at all times, and you are able to help people transform
themselves into completely different individuals. Your business is all about
pretending and fun, and it can also be quite lucrative.
The Concept
The concept of this business is essentially
that whenever someone need to dress up, you
are there to give them the means to do so.
It could be a gorilla costume for a
business, it could be a sexy nurse outfit
for a Halloween party, or it could be a
clown costume for a birthday party. No
matter what it is, you can provide it and
you can profit from it. People want to be
the hit of the costume party and your
costumes can do that.
Of course, while it is a fun business to
have, it does have its problems. You have to
make sure you will have a market for your
business where you are. You don’t want to
have a bunch of costumes that no one buys.
As well, you have to spend a lot of money up
front to buy the costumes people will
hopefully rent. However, if no one rents a
$2,000 costume you bought, that is $2,000
you just wasted. If it works, it is a great
business, but when it does not work it can
be a severe financial drain.
Startup Costs
The costs for this are quite high. You can
operate this out of your home, so you save
costs on facility rentals, however if you
want people to see you as a legit business,
you may need a facility. As well, you need
to buy all the outfits that you think people
are going to rent from time to time. This
means that costs are going to be quite high.
Most estimates for the costume rental
business have startup costs resting between
$10,000 and $55,000 in total.
It takes a lot of money at first to start
up, but it can reap a lot of rewards for you
in the long run.
How to Market It
The best way to market this is in the Yellow
Pages and in the newspaper. You don’t know
when people will be renting costumes, so you
should just blanket market everything, all
year round. Newspapers, radio, posters,
flyers, etc. Halloween is going to be the
meat of your business, so make sure you
really amp up how much you market your
business there. Most of your marketing
budget should come out at this time of year.
Word of mouth will be an excellent way to
market your business as well.
The Concept
Startup Costs
How to Market It
