Fashion Entrepreneur 101: How to Turn Your Love of Clothes into a Passive Income Stream

Are you tired of staring at your overflowing closet, filled with clothes you barely wear? Do you have a drawer full of barely-used purses and a jewelry box that’s practically bursting at the seams? If so, it’s time to turn your fashion hoarding habits into a passive income stream by renting out your gently used clothing, purses, and jewelry!

With companies like Rent The Runway and Vivrelle, it’s easier than ever to turn your fashionista lifestyle into a lucrative side hustle. Simply sign up for one of these platforms, upload pictures of your gently used items, and set your own rental prices. Then, sit back and let the money roll in as fashion-forward individuals across the country borrow your style for a fraction of the cost of buying new.

Not only is this a great way to make some extra cash, it’s also environmentally friendly. By renting out your clothes and accessories, you’re helping to reduce the demand for fast fashion, which is notorious for its negative impact on the planet.

But just how much money can you make by renting out your clothes, purses, and jewelry? The answer is: it depends! It’s all about supply and demand. If you have highly coveted designer items in excellent condition, you can potentially make a significant amount of money. On the other hand, if you have more basic items in good condition, you may not make as much, but you can still earn a decent amount of extra cash.

To maximize your earnings, it’s important to keep your inventory fresh and up-to-date. This means regularly adding new items and getting rid of items that are no longer in demand or that are in poor condition. It’s also a good idea to set competitive rental prices that are fair for both you and the renter.

Overall, renting out your clothes, purses, and jewelry can be a fun and easy way to make a little extra money on the side. So if you have gently used fashion items collecting dust in your closet.

So why not give it a try? You never know, you might even discover that you enjoy being a fashion entrepreneur. And with a little bit of luck, you might even turn your passion for fashion into a full-time career. Happy renting!

Olivia Salinas

Journalist and writer for NY Style and Millennial Entrepreneur Magazines covering music, modeling and the fashion industry.