#BusinessIdeasPool

Business Ideas Pool is another segment of my entrepreneurship journey, wherein I share potential business ideas that could be converted into money making business.

FAQs regarding #BusinessIdeasPool towards the end of the post

After the launch of Raasleela – Indian Ethnic Wear, I was asked by a couple of friends if I would like to add a few pieces of their wedding trousseau to the collection of Raasleela wedding collection. Almost all of my female married friends have a collection of expensive Suits and Sarees that they haven’t had a chance to wear even once. Packed in the suitcases, put away in some corner of the house, these clothes have not been worn as the occasion never demanded their use. Now my friends are happy to sell them at half and even marginal costs just to get space in their wardrobes and shed away the load that has been lying with them for a few years.

Idea: I did consider the option as it would not only help in increase the stocks but as we will just need to provide the display space for a month, it would also not require any direct investment from my end. However, instead of assisting my few friends by providing display space and fire testing my client’s reactions to them, how about an online portal, where not only my friends but their friends and their friends could put up their never worn or one – two time worn lavish garments on sale? We all have them and most of us never wear our party wear more than twice unless we are really cool at styling and like to reinvent our garments over and over again.

The suggested portal can be listing format where sellers add their pieces with sizing on the portal and buyers browse through them and order for trial and payment on delivery.

Problem: To get the reactions, I spoke with over a dozen of female and married friends and cousins who might consider this as an option and to my surprise, many were up to put up their stuff on sale.

  1. A) What didn’t come in as a surprise though was their big hesitation and denial of purchase of a second hand attire. B) And I did get asked a lot of questions about the hygiene part of the garments.

Solution:

  1. Hesitation or denial in making the purchase: I know for the fact that social butterflies are always on a hunt for a good deals and fashion to meet the demands of their extremely demanding social life. They would rather be found dead than wearing the same outfit twice. The insatiable need to flaunt is evident in their expensive branded bags and watches, which they change almost every week if not day. That’s where the need for fakes come into play. Nothing wrong in that, they are just smart enough to flaunt good fashion (and good fakes) without burning truckloads of money. They are the TG for this portal + the ones who have an eye for good design and a garment at almost half a cost+ ladies with not much deep pockets. I assume that many might not admit to it openly, but would jump on such deals when offered (further consumer research is needed to prove the assumption).
  1. The company can take up the responsibility of dry-cleaning any sold garments, however if the portal is based on user generated listing format (wherein buyers and sellers deal directly with each other) then the Seller can provide the details if the sold item is with dry-cleaning or without and buyer can accordingly get it cleaned at her end.

Upon discussion with a friend I realised that there is already a similar site called SecretWardrobe.in. The major difference being that it’s primarily for renting garments for weddings along with a few extremely old fashioned designer pieces. All the inventory is centrally controlled and options to either rent or buy are not as many. Further there is no user to user interaction or listings format, reducing the scope of its scalability without a huge round of funding by an investment firm.

Would you ever consider buying second hand clothes? What are your initial thoughts about the idea? Is it:

  1. a) Completely hopeless?
  2. b) Can be tested?
  3. c) Sure shot success?

FAQs:

The question arises that why am I sharing my ideas on a public platform rather than making money out of them?

Answer is that I am stupid and try not bite more than I can chew. Further, these are my brain children whom I would not like to discard just because I am not in a position to get my hands dirty right now.

If any individual or group of individuals decide to take any of the ideas further, do drop in a note to inform me. Further, I might help you in the initial stage with a start-up incubation facility for the ideas listed in #BusinessIdeasPool. Just drop in a comment mentioning your interest.

If any of the big corporate giants decides to take up the idea in part or full without any prior agreement with me, please be ready to face my (legal) wrath.

Disclaimer: None of these ideas are completely fleshed out and are just the scribbles of my initial thoughts and discussions within my closed group. No official market research either about the competition or TG has been conducted to back these ideas and assure their monitory success.

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