Yourdrobe Analyzing Opportunity

Step 1: Activation

Download App

Create free profile

Accept terms and conditions

Step 2: Selection

Explore clothes based on distance, category, or price

Select clothes to rent and begin to contact the seller

Step 3: Meet-up

Fine a safe, public location to meet

Select a meeting place that is safe and away from your home

Step 4: Pay & Enjoy

Payment for clothing gets finalized

Wear the clothes

Step: 5: Returning

Return the clothes in a safe public area

If left unreturned, determine fines for buyer

Step 6: Review

Leave required review for the seller and the buyer

Competition Intensity

Direct competition

Indirect competition

Target Segment

Our target market

Risks involved

The current mood of consumers

Consumer Tastes and Preferences

• Consumers are wanting all the latest fashion trends but because fashions are changing so rapidly they are not able to always have them because they do not want to spend all the money that it costs to buy these clothing items.

• Consumers have a lot of clothing in their closets that they do not want to get rid of because of how fashion goes in cycles and those clothes could be interested to someone else that may want to rent them out for a night or two.

• People are doing it with cars, houses, why not clothes?

Demographics/ Life Cycles

Many millennials are putting off everything from buying a house, car, getting married and so on. So, as many millennials are already heavily in the renting game, this will be an appealing way to look stylish and not have to invest all the money into a new wardrobe every month as styles change.

Technological

• Everyone has a smart phone nowadays and they like to get their products fast. If a person can get on an app and have a fresh outfit within 15-20 minutes for a low price they are gladly going to.

• People are obsessed with convenience because of how convenient a smart phone makes everything. So, getting a whole new look for the night/weekend will now be more convenient than ever,

• Apps/Social media are only growing

Social/Cultural

• We live in a society where people are very concerned with how they look and everyone wants to be up to date with the latest fashions. (again tying back to not wanting to spend all the money on them but the want/desire for the product is there)

Competition

• There are other companies doing this but only for women’s clothing in NY and LA

• No competition as of right now so it is crucial to get a move on with this (creates a sense of urgency for an investor to get in on it while its still original)

Income

• Target market is mostly college students and recent college grads who are busy spending money on their education and starting their adult life. The need and want for nice clothes is there but the money to buy them is not so having an alternate method of using up to date clothing can be a huge hit on college campuses and towns that have a lot of people ages 18-24.

Credits:

Created with images by stevepb - "clothes hangers coat hangers plastic hanger" • Shootingsnow - "Opportunity" • Unsplash - "clothes rail shirts clothing" • tpsdave - "cleveland ohio arcade" • blavoulondon - "Groomsmen" • sobilove4 - "jacket fashion male" • StockSnap - "macbook laptop business" • blickpixel - "board electronics computer" • LoboStudioHamburg - "twitter facebook together" • TeroVesalainen - "smartphone white silver" • PublicDomainPictures - "achievement bar business"

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