A tuxedo renting shop is a practical business to open. Tuxedos can be expensive and impractical to purchase since they are not used frequently. A lot of people therefore choose to rent out their tuxedos and other formal wear for one time use.
Below are the steps that will guide you through the process of opening your own tuxedo renting business:
- Find out all that you can about tuxedos and tuxedo rental. Do your research on tuxedos and tuxedo rental policies and attend seminars on opening your own business. This will be of big help in getting familiar with the tuxedo rental business and dealing with your customers.
- Look for a good location. The basic areas that you will need for you tuxedo rental shop is a reception area with a space big enough to entertain your customers, a spacey storage room, and a few fitting rooms. Find a space that is big enough to fit all these in a location where people can easily find your shop.
- Acquire the necessary documents for your business. To open any kind of business, you will need a business license. The requirements to open a business may differ for each city or state, make sure that you research on the documents that you will need and prepare them. Come with your shop’s name and apply for a business license.
- Gather the materials that you will need for your shop. Gather all the basic materials that you will need for your shop such as display, organizing, and tuxedo maintenance equipment. Of course, you will also need the tuxedos and other formal wear that you will be renting out. You can look for these from different tuxedo suppliers, or if you want, have them custom made to suit the style of your target market. Either way you choose, make sure that you have each tuxedo in different styles, sizes and pieces. You cannot avoid situations where more than one customer would want a tuxedo in the same style and size!
- Decorate your shop. How you organize and decorate your shop is a big factor in attracting customers. Give it a catchy name and decorate your space creatively yet effectively. Make sure that the spaces you provide for fitting the tuxedos and other formal wear will be comfortable for your customers. Remember that customer satisfaction is the key to keeping their loyalty.
- Hire your employees. You can start out with maybe a couple of employees who know their way around the tuxedo rental business. Observe how the business goes, and if need be, hire more employees to help you out.
- Advertise and promote your shop. Now that you are all good to go, advertise your shop! Make the public aware of your newly opened shop and the products and services that you can offer to them. Keep your customers interested and your shop’s image good through various promotional activities such as short term incentives or rewards.
Keep your customers happy and they will not only come back to your shop, but recommend you to their friends as well.