The Side Hustle Show 652: $150k Renting Out Dresses as a Side Hustle
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Jan 23, 2025 Summer Fisher, an entrepreneur who scaled her dress rental side hustle to $150,000 in annual revenue, shares her inspiring journey. She discusses her "double-dip profit strategy," renting dresses multiple times before selling them. Summer reveals her favorite brands for rentals and dives into her pricing strategy, including profit margin math. She also tackles logistics like shipping and managing inventory while navigating common rental challenges, such as late returns and garment care.
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Inspiration for the Business
- Summer Fisher was inspired to start her dress rental business after a model at her agency mentioned starting a similar venture.
- Initially, she experimented with two dresses and was surprised by her first rental, leading her to expand her inventory.
Double-Dip Profit Strategy
- Summer realized she could "double-dip" by renting out dresses she intended to resell.
- This generated income while waiting for the dresses to sell, maximizing profits from each item.
Sourcing Strategy
- Consider the intersection of brand, style, size, and recent trends.
- Prioritize dresses worn by celebrities, influencers, or in-demand colors and styles for wedding guests.