I'm Creating A New Company (Pen Related) - Need Feedback

[GTD]

Hi guys, how are you?

 

I have been following and collecting fountain pens for about 15+ yrs... Currently I am in the process of creating a new company that will allow customers to rent luxury fountain (or other types) pens on a monthly basis.

With this, I wanted to get your feedback to see which brands (or pen models) you would be interested to have available... Any help will be greatly appreciated.

 

Thanks so much!

[MisterBoll]

I would imagine anyone wanting to rent a pen would probably rent a pen they could not afford to purchase.

[Inkling13]

I'd rather not rent. If I really wanted to see what the pen looked like, I'd go to a store. If i wanted to use it for a daily writer, i'd buy it. If I"m lucky I can recoup the price of a gently used pen for 90% of its market value, and I wouldn't need to worry about having to pay a subscription fee. Considering most of my pens are around $300, it's alright for me to hold a pen for 6 months, and sell it for a loss of $30. I could see this being overrun by non-savy pen people, who would destroy a nib in less than 30 seconds given half the chance. You'd need a whole army of nibmeisters working overtime, just to handle the damaged nibs, not to mention the random scratches and incidental damage from careless use. It's not that i'm blaming renters, but there's something about rental cars and houses/apartments that seem a bit rundown, since the people who own it have to balance cost of upkeep with making a profit, and the people using it don't really care because they don't own it. I'm just saying... I'm curious to how fesable this would be, and how long it may last. Even then with cheap beater pens that you wouldn't care about, you'd have to charge minimally for them, since they can be had for <$50, but shipping them would quickly eat up any profit you would see... and if you charged more to recoup that, then you'd be competing with the sector that would just as well buy a pen...

[Inkling13]

I would imagine anyone wanting to rent a pen would probably rent a pen they could not afford to purchase.

But! a Pilot can be had for $10, as well as a ton of other pens, if you really wanted one... I could only see this price argument for pens in the thousands of dollars, but at that point, would you even lend them out? Not even rent, just to lend, to an unseen stranger?

[c4bb0ose]

I do think that it would have people who would use it, but consider this, Fountain pens are very niche and renting a fountain pen is going to be a niche inside a niche, you are verrryyyyyyy limited in who would use it and you will run into the issues that video rentals have (such as people not returning pens, or selling them off.

[JustinJ]

I do not think it is a bad idea. If someone wants to try an expensive before purchasing, they can rent it for a while. Using a pen for a month a two will let you know if you really like it. How many people are exuberant when they first start using a pen but after while it is put away or another one is purchased. The initial outlay of buying a pen and then reselling is still a money loss. Also, there is the risk that you would lose more money reselling a purchased pen than renting would cost.

 

If someone going to rent a pen, I do not see them abusing it. One thing that I've noticed about the fountain pen community is very few bad apples. Of course you will find one that is bad.

 

It is a very interesting idea and I would like to hear more.

 

Some ideas for pens

 

Japanese Brands

Italian Brands

German Brands

 

I would not deal with renting pens under $80.00 U.S.

Edited January 17, 2014 by JustinJ

[Mesu]

Good idea though I am unsure who the target customers might be.

 

How about selling some ink samples to the people renting out the pens?

[Inkling13]

I do not think it is a bad idea. If someone wants to try an expensive before purchasing, they can rent it for a while. Using a pen for a month a two will let you know if you really like it. How many people are exuberant when they first start using a pen but after while it is put away or another one is purchased. The initial outlay of buying a pen and then reselling is still a money loss. Also, there is the risk that you would lose more money reselling a purchased pen than renting would cost.

 

If someone going to rent a pen, I do not see them abusing it. One thing that I've noticed about the fountain pen community is very few bad apples. Of course you will find one that is bad.

 

It is a very interesting idea and I would like to hear more.

 

Some ideas for pens

 

Japanese Brands

Italian Brands

German Brands

 

I would not deal with renting pens under $80.00 U.S.

You say that there are no bad apples, but all you need is one that doesn't return an expensive pen. I had started a traveling journal long time ago here, and it went well. I saw it only once, because SOMEONE was careless and lost it, and then ghosted from FPN. Where would the accountability be?

[MisterBoll]

I could only see this price argument for pens in the thousands of dollars.

 

There you go.

 

Now - who in their right minds would rent pens of that value I have no idea.

[inkstainedruth]

It occurs to me that (as I watch the current episode of _Downton Abbey_) that your customers might very well be TV or movie prop people, needing an appropriate pen for a costume drama or if pens are part of the plot.

I mostly can't afford really expensive pens (all of mine cost under $100 -- although I've got an Ebay bid in for something rather pricy ) and I fear that renting a pen would just make me lust after things I have absolutely no way of affording.

Ruth Morrisson aka inkstainedruth

[OcalaFlGuy]

I like the idea, it sure made me smile, but I have some misgivings.

GClef (Manny) has been one of the most often pen loaners I've ever seen on FPN. And, he has sent out some Very Nice pens. In fact, his pen loan outs were the inspiration for the Esterbrook Forum's Estie Loaner Program. So far, we've sent out around 30 pens and had all come back just fine. But, these were also Only sent to FPN members with at least 30 No Chatter posts, the same minimum requirement as to post a classified ad here.

On the other hand, a P-51 Loaner Program a few years ago lost the first 2 (and hence the last 2) pens they sent out.

I Do agree with the thought that someone would be more likely to want to rent a pen they can't afford. Nothing wrong with that Except I also think, that if that person isn't somewhat visible in A pen community, the chance of the pen going baabye increases with it's monetary value. But that's just a SWAG on my part really.

If you are renting to people you cannot know in advance actually Already Use FP's, I'd think you'd want to be good at making the myriad of minor nib adjustments they'll need when they get home.

Thanks for the thought provocation.

Bruce in Ocala, Fl

Edited January 17, 2014 by OcalaFlGuy

[Dickkooty2]

Rent-instead-of-buying is a smart idea for lots of stuff: a post-hole digger, an orbital saw, a paint-sprayer … the kind of thing that you would use maybe a few times at best. Or you can lease a car at a good deal and a business deduction. Or you can rent furniture and appliances, and computers . And maybe it's a rent-to-buy program. Or rent expensive equipment that you know how to use professionally and you'll use the equipment making money on your skills. Folks used to rent typewriters. People rent stuff for parties to create an impression all the time, from apartments to clothes to jewelry.

 

All of these businesses have an element of risk for the lender which would have to be satisfied up-front in a legal agreement/deposit/insurance arrangement. That's a business.

 

The risk may be higher on pens for set-up, damage, theft, and liability and insurance. Do pen dealers have loaner programs? Do they have rent-to-buy opportunities? I'm trying to get my head into a marketing set to see the premise. The best I can see is like a jewelers renting/lending special and obvious symbols to those who need them at the time for an important occassion or to help establish a persona.

 

Unless you already have a collection of fabulous pens and an A-list of people to whom they mean something, I'm missing it. Please help me out!

Edited January 17, 2014 by Dickkooty2

[Pentulant]

There are other businesses modeled in the same way....

 

www.renttherunway.com

www.bagborroworsteal.com

 

It looks like items rent for around 10% of the retail price - keep the item for a month. If you don't return it, your card is charged month after month. If you damage it, you're charged for those, too. These two places have been around for awhile - who knows if they are profitable, but there there it is.

 

The brands and styles carried would need to be high-end to get my attention - something I wouldn't otherwise have the opportunity to try. The MB Super Duper Limited Editions.

 

Interesting topic - hope you'll continue to post about the progress of your new endeavor.

[ethernautrix]

Upon reading the OP, I flashed on an episode of -Parks and Recreation- in which (name escapes me) starts a business renting designer clothes for children since kids grow out of clothes so quickly.

 

Maybe you could incorporate a rent-to-own program.

[Tas]

Do it.
Put me down first for an OMAS 360 a Pelikan M800 and a Pilot Justus please.

 

Just had a thought though. How on earth would you accommodate all the nib variations?

[Lady P]

Hmm... I just don't think that many people would be interested in renting a pen. I could be wrong. But personally, I'd much rather own a TWSBI 580 than rent a MB 149. I'd also rather own a no-name ballpoint than rent a TWSBI 580. I'd be too worried about losing or damaging a rented pen, and why worry about it if I can simply buy a pen (even if it's a much cheaper one).

[Lady P]

It occurs to me that (as I watch the current episode of _Downton Abbey_) that your customers might very well be TV or movie prop people, needing an appropriate pen for a costume drama or if pens are part of the plot.

I'm not too sure about that. If it's a popular show, I'm pretty sure that big name pen brands would be willing to PAY to get their pen to appear on the show. And if we're talking about theater and such, the audience wouldn't be able to tell if you're writing with a MB 149 or a Jinhao 159 anyway.

[novarider]

I would participate if you have the correct pens. I would like to try a MB 149 but I don't want to have to purchase one just to try it out. The closest MB boutique is about 4 hours away.

 

I have bought dozens of very expensive pens only to find out I don't like them and sell them at a loss.

[MisterBoll]

OK, GTD let's say I want to rent a 149 with an OBB nib.

 

Can you walk me through your business model?

[BrandonA]

I can't see the market for this to be sustainable.

 

For one you'd need to have a huge inventory of pens. Take a company like MB, I'd suggest you'd need to stock pens across the range in every nib size and have multiples of them. This is a huge number of pens,

 

Secondly, everyone states that all pens write differently, be it a different ink flow or the way the nib was constructed. I don't therefore know what I'd gain from the rental experience.

 

You'd need to take a large deposit from people to cover yourself from lose or damage. This could make the experience too much hassle for someone. Also, people are likely to test the more expensive pens they are looking at and might therefore not even be able to cover the deposit.

 

You can go to clubs or ask friends or colleagues to test pens. A lot of shops also offer this pre sale service.

 

You must have thought about your potential market so I'd be interested to know who you think it is.