Tips & Ideas to Launch an Online Halloween Costume Rental Business

According to Statista, 73% of all US citizens are planning to participate in Halloween celebrations in 2023. Moreover, their expected spending for Halloween celebrations is a whopping $12.2 billion with 65% of the amount to be spent on online shopping portals. If we include parties and events, the average Halloween spending of an American goes up to $250, with 71% Americans reserving up to $100 for decorations.

All these figures show the potential of launching an online business related to the Halloween festival, particularly Halloween costume rentals. In this blog, I have mentioned the various reasons to launch your online Halloween costume rental store along with the most ideal rental management software for a quick start.

Benefits of Going Digital: Tips for Halloween Costume Rental Businesses

There’s not one but several benefits of bringing your offline Halloween costume rental business online. In this article, we have covered the most important ones.

Smaller Investment

Compare the cost of decorating a physical store vs decorating a website for Halloween. Where the former includes costly displays, decorations and maintenance, the latter only requires you to select a suitable color scheme and set up banner images.?

Moreover, with an online website, you can start an asset-light dropshipping store where you only purchase the inventory after placing an order. On the other hand, to make your physical Halloween costume business to run, you need to find a space with high footfall, which will neither be easy to find nor cost-friendly.

Wider Reach Amongst with High Demand

As per the statistics, certain costumes perform better than others. Surprisingly, it is superhero costumes that people like to wear more than ghost and witches costumes on Halloween. However, these costumes are also more costly and difficult to find. Due to this, many customers are unable to find their favorite costumes in nearby stores and search online. Thus, by launching your online Halloween costume rental store, you can get a wider reach and attract those customers who failed to find a costume in local stores.?

No Staff Crunch

Comfy holidays is what the majority of employees look for in the festive seasons. Even though companies try to retain their employees by paying them 2x hourly rate, there’s still a very high staff crunch. In some cases, businesses even do additional staff hiring to manage the extra work and unprecedented footfall.??

Luckily, with an online costume rental store, you are automating the majority of operations, such as invoicing, payment collection, display, marketing, customer support and even more. This will save your expenses on manual work and also prevent a staff crunch, all while being a more economic option.

You Bring a Highly Convenient Shopping Option

Customers get very little time to spend on themselves during the festive season. A wide majority of them are occupied with family or friends, or buying gifts for others. In such a hectic schedule, they find it a huge relief if they can get their preferred costumes delivered to their doorstep instead of visiting local stores only to find their costumes out of stock.

Multiple Revenue Generation Channels

Unlike physical stores, business owners get to benefit from multiple revenue streams on an online website. For Halloween costume rental businesses, these revenue streams can be rental fees, rental add-ons, display ads, PPC campaigns, affiliate commissions, and more.?

The Easiest Way to Launch Your Online Halloween Costume Rental Store/Website

In the given circumstances and the short time left for investment, using off-the-shelf rental software is the most logical approach to launch your Halloween costume rental store. I would highly recommend Yo!Rent, which is a next-gen dress rental software with various helpful rent-centric features.?

Here’s why Yo!Rent is the most ideal solution for your seasonal Halloween costume rental business:

1. With unlimited listings, transactions and user profiles, it is highly-scalable to support the festive season rush.?
2. It can be set up quickly within a short period of time to ensure timely operations.
3. It is pre-integrated with several marketing features like SEO optimization, social media sharing, discount coupon management, banner image management, etc. to help you promote your business.
4. Its rent-centric features like rental security management, late returns/cancellations, map view, custom product attributes, product customization, product inspection and rental terms and agreement simplify rental business operations.?

Final Takeaway

With the assumption of the biggest Halloween celebrations in the past couple of years, the spirit of the festival is at an all-time high. Customers are ready to step out and go trick or treating in full zeal. However, to do so, they need some really impressive and spooky costumes that you can lend out. Considering the very less time left until Halloween 2023, the best time to invest on a Halloween costume rental website is now. If interested in Yo!Rent, you can check out instant explorable dress rental marketplace demo of YoRent or book a one-to-one personalized demo by reaching out to the experts.