Its probably also because people who havent tried it out before are reluctant to do so for the first time. Maybe you could try giving some incentive like say first day of rental free for new customers, so people can try it out with no strings attached for the first day (or something to that effect) and then if they like it, they could continue renting it.
Ofcourse would it be feasible to do so? Maybe you could offer this for people wanting to rent the equipment for more than a certain number of days only, so that they could try it out for the first day.
Once people try it out once and find it good and useful, they would probably be more comfortable using your store's service the next time.
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Maybe you could try advertising at places where they offer courses that need the appliances you rent eg, cookery classes (you could put up an ad for cooking apppliances), carpentry courses (you could put up ads for any carpenting tools),etc. so that people can try out the different appliances and then choose those that best suit their needs. Thus they too would be able to make a better decision about what stuff to buy and what not to buy.
Also can you think of any instituions that would be interested in renting the stuff that you have? ________________________________________鈥?br>
If you think that the advertising isn't a problem then probably the pricing maybe the factor thats affecting the amount of new customers that you get.
You could try contact the companies whose products you have in the store and see if they would be willing to share a part of the rent with the customers in return for feedback regarding the product that you can get from the customers. I am sure, that the customers wont mind filling out a few detailed answers about the product experience if they could get the products on rent for a lower price.
Can you think of something else that can you offer to the companies?
Also, as suggested by dd2001uk, advertising on the products would also be useful in reducing the price, but on the downside, people wouldnt want to buy products that have ads/stickers all over them.
Maybe you could work out a better plan for possibly decreasing the price for renting out the stuff?
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Also, is there a scope for renting out furniture to real estate agents who have open houses? I think they often times need additional furniture to decorate the house prior to having an open house. So maybe if you could tie up with these people, they would have one source for all furniture that they need and you could have more earnings and customers. I think you should enquire in this regard to the real estate agents in your area.I work in a rent to own store and I'm in charge of finding how to get new accounts.?
Glad to be of help :-)
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Maybe she should hire a male. I am a female and I think like a female. Maybe that is why the ads are not working. Maybe they are geared more towards women then men. I know that when you sell your suppose to sell more towards the women. Men like to think they make the choices but it is really the women who make them. Many sales people overlook that and ignore the women. Another thing you could do is call previous customers or give clients something when they refer someone. (ex: $10 off the product each time you refer someone with a limit of 3 referals).
The reason you cant open up some areas is that in those areas, people have enough money to BUY the stuff, not rent it. Everybody knows that places that rent this stuff, make huge amounts of money and charge way more than what it costs to buy the item. So if you can afford to buy it, why in the world would you pay more to rent it, even with free delivery? I just feel sorry for the people that arent smart enough to understand that, who tend to not have very high incomes, and then they go blow their hard earned money at a rip-off joint like that.
I work in advertising, and you may want to consider discussing this with an ad agency. Right now, since you are all women, you may not realize that you are targeting the wrong audience. For instance, you may think that your ads are geared towards men (and that is who your target audience should be, males 25 - 45), but they aren't exactly what they should be.
Another idea, would be to do a survey of your current customer base. Why did they come to you, instead of somewhere else? You will need to make it short, because most of your customers do not want to take the time to fill it out. So get the most out of two or three questions. NO FILL IN THE BLANKS!
Your boss, obviously is a smart woman if she has 5 stores already, and is planning to open more. Good Luck!
i think..the products that u rent matters the most. so its feasible to stock only those..that the people cannot afford or dont wont to buy but rather rent it from u guys. i think to get new accounts, the best thing to do is:
to run an offer that if u give 5 (or, any number of) items for rent, they can keep 1 item from 5, with them free. of course u will need to see the costs involved and not to say but the item that u give free should be the least costing thing, but here we can take the case study of EASYJET (FOR LOW COST) TICKETS IN UK or in US (SOUTHWEST AIRLINES) they do low cost tickets because they are experts in YIELD MANAGEMENT. so do some research on that and u guys will be successful.
ps.s. a brian wave --- how about taking some advertisers as sponsors for the free item that u wanna give. the advertisor can put their stickers or some kind of stuff on the items that u give for rent and free.
take care
bmwdriver11 is right, or it could be just the opposite, maybe its a poor neighborhood and they cant afford it.
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