With a full wardrobe of shirts and a concept in 2018, Calvin Chen and Brendan Mullen beat the clock and founded a fashion rental startup to help young professionals succeed in the City of Angels.called Rent-A-Fit, which makes high-end fashion more sustainable and affordable for budding academics and professionals.Now they couldn’t be happier to see their assignment begin their initial launch.
Rent-A Fit offers its consumers an affordable option for the big and beloved brands. Tenants pay a $5 monthly subscription to access the newest clothing finishes and take the luxury pieces in stock from Rent-A-Fit for an era of 3 or six days.The company, which has more than 500 subscribers, offers a full dry cleaning and members can purchase their rentals at a discounted price at the end of each fashion season.
Chen and Mullen, who began their business style as freshmen, worked tirelessly on their plan during the first year.Chen said he rarely needed to sacrifice periods of elegance to meet with key investors, and Mullen said the couple worked daily on their final project.
With USC resources, such as the Marshall Incubator program at the Lloyd Greif Center for Entrepreneurial Studies, the couple contacted Marshall’s mentors such as Professor Marianne Szymanski and former investors., and worked for a long time overnight to create online platform teams and be informed about previous commercial rental models as recruits.
“When we started this company, we had no idea what we were doing,” Chen said.”We have never created a generation-ever commissioning team before.And that’s where I was given the chance to move to USC.”, and USC played a vital role in helping us expand this business.»
In 2018, the duo met with more than 30 USC professional and business teachers, and was added to the director of USC’s incubation program, Paul Orlando, who begged them and put them in touch with other professionals.Both Chen and Mullen said they were to blame for the cash of angel investors Today, Rent-A-Fit raised $100,000 in fundraising and the company is valued at $2.5 million.Members of the Rent-A-Fit team stated that they were committed to using this initial funding.
“It’s just about spending the time, the paintings and the effort to succeed,” Mullen said.”We would draw every day in building our business plan, building our model, locating projections, obtaining products [and] the next website.”
The dangers associated with starting a new business have kept the team on track.The founders of Rent-A-Fit said time is their ultimate valuable resource for building their brand, because starting a business in college is difficult.
“Now that I’m guilty about investors’ money, this changes their perspective,” Mullen said.”I need to work as hard as I can to make sure they make a profit on their investment in the future.”
Mullen said he didn’t need to waste time with an opportunity like Rent-A-Fit.
Taking Szymanski’s course on business control allowed Chen and Mullen to apply their concepts on it and get mentors along the way.
“We don’t delight immediately, ” said Mullen. We knew we had a wonderful concept that we were sitting on.We’re trying to do it the right way.”
Under Szymanski’s leadership, Chen and Mullen learned what’s needed for entrepreneurs.Szymanski under pressure that academics want the field to stand out in Marshall’s start-up courses and beyond.-Unitary course that follows the business models of popular toy brands such as Hasbro and Mattel.
“As soon as you walk through my [classroom] door, you’ve already said, “I need to be an entrepreneur” and have a business idea,” Szymanski said.”It could just be a paper comic strip and yet focus on itself and how to apply yourself to the scenario of running a business.”
Szymanski said she was delighted to see her academics succeed in the fashion industry.
“I think those two academics had super [mentality and entrepreneurship] and were very smart in sharing concepts about their business, engaging [and] encouraging other academics to be more informed about their concepts,” Szymanski said.”The presentation was perfect and they were very motivated and incredibly passionate about clothes.”
Earlier this year, the duo asked Emma Marcussen, a sophomore in business administration, to enroll in their team.Marcussen is helping to expand the logo’s online platforms and has recently worked to strengthen the logo’s popularity for Rent-A-Fit.
“The good thing about being part of this business, while we’re still in school, is that we can use what we’ve learned from USC and Marshall, and then verify it in genuine situations,” Marcussen told me.
Today, more than ever, consumers have the option to buy high-end products for monetary and environmental reasons.Fast fashion is one of the main reasons for landfill waste, and rent is a sustainable option for all occasions.
“This concept is really applicable to other people who need to revel in luxury without committing and paying a high price,” Marcussen said.”In terms of sustainability, I think Rent-A-Fit is a wonderful choice for other people to see, you know, use it several times and return it without having it in your closet for months.And never use it.
The trio that rent is the business of the future.Chen said post-pandemic fashion is already evolving for the better.With the economic recession, fashionistas are more aware of their expenses and are looking for fast fashion opportunities, and Rent-A-Fit has the right answer to that change.
“Last year, the total trend of the rental revolution has become very popular,” Mullen said.”And I believe that for us, with a minimal festival in our niche express, which is a smart phase of luxury, has the opportunity to grow.
USC alumnus A.J.Eckstein introduced the company to academics to navigate the dubious procedure of recruiting graduates amid a pandemic.
Graduate student Samantha Broxton lately owns her own herbal hair and lifestyle community, SisterLocked, and volunteers at Black Girls CODE L.A.
The film recently won the Best Documentary award at the 2020 First Look Industry Awards and was included in the BAFTA 2020 Student Film List.
Over the more than 3 days, USC Student Health has noticed a “very dramatic” increase in some cases, totaling the largest increase in cases ever recorded at the University.
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