Furniture Rental for Students - Idea

[Hooman]

So, I've been looking around for furniture for a photoshoot and this idea popped in my head. I think it could work, not that I would necessarily do it myself - but feel free to use it. Here's the jist of it.

You setup a website that's friendly and looks cool for students. You offer a wide selection of used (or new furniture), such as couches, tables, desks, lamps, etc.

You charge students a monthly fee to rent "packages" of furniture. For example, a couch, table, and a lamp (3 pieces) for a living area would be $25/mo. More pieces would cost more per month, like $35, $45, etc. up to maybe $75. You charge based on a subscription through the website. The initial charge would also include a setup fee of $25 (also depending on the amount of furniture purchased).

You get the furniture used from places like Craigslist or warehouses that liquidate furniture. That same 3 piece set would cost roughly $100, used. The terms of the subscription will include damage, wear/tear, etc. Basically, after rental is over with one customer, you re-use the furniture for the next rental. Customers can't cancel their subscription unless they return the furniture.

Why is this a good idea even when Craigslist already provides used furniture?

Students usually don't have much cash, and this basically lets them pay little up front and use credit - which students are very prone to using. Plus, you could make the website interactive so that they could put in the dimensions of their room, and it would list the pieces that would fit, for example. Or give more of a visual, custom feel to it.

This idea could work well if you're good at negotiating. Often times I'll find something on Craigslist for say $xx and I can negotiate it to half the price usually, if not much more. You talk it down over the phone, settle on a price, then when you get there you act disappointed it, talk it down more, and close. Works pretty good for me. I've bought lots of things for dirt cheap.

I might do this idea in the future myself, just don't have time for it now. I figured I would throw it out there for you guys. Furniture rental already exists, but not for students.

[Mega B]

It does seem to be a good idea and yes there is very good potential in the Furniture market as i have a Site linked in with Ebay FURNITUREDIRECTFROM.US and it does earn some good revenue What with the cost of living and the credit crunch i think people will be more careful with there money and reduce spending using credit cards or loans to by furniture.

[metagistics]

I know this is currently being offered in college towns in the south. I know there are several places at Texas and Texas A&M.....my sons get flyers/mailings before every semester mailed to the house. I can't remember the names, but basically they had a large warehouse of furniture they turned over each semester...everything from small fridges to washer/dryers to dishes.

[rogercbryan]

Cort Furniture... owned by Warren Buffet offers a similar service. They do not directly market to students (as they don't have much money). They target mostly Corporate Clients which translates into the parents of the students. I still think you have a good idea. You may want to do some research on Cort's business model to get more ideas as to how you can offer your services. You may even be able to approach a local Cort store and offer their products in a unique way to students on a margin...

[Gaulkin]

Rent a center does this.