A niche business for a niche need, with some juicy expansion opportunities? Check out this short term sofa rental business from the UK.
Not every new business idea needs to become the next Shell Oil or GE. London-based Stop Gap Sofas fills a neat little business er… gap, by renting out sofas/couches by the week, to consumers who are moving house, or buying or renting for the first time. In their own words: “furnishing your new property is a time consuming yet essential part of the process. One of the major decisions you’ll face is choosing your ideal sofa, and once you’ve made your choice, chances are you will be faced with a 6-12 week wait while your sofa is hand crafted and delivered to your door.” Sofas are hired on a weekly basis, with a minimum contract period of 3 weeks. Customers in Kensington & Chelsea, Hammersmith & Fulham, Wandsworth, Lambeth, Islington, Camden, Ealing, Richmond upon Thames, Merton will get a sofa delivered within 24 hours. The company, which has been in business for 5 months now, has so far rented out more than 200 sofas, with expats making up the majority of customers. The average hire period turns out to be six weeks: 35% of all customers extend their rental period with another three weeks. Event agencies and photographic studios have also discovered Stop Gap Sofas as an easy way to furnish events and studios stylishly and economically. Expansion throughout the UK is in the works.