Formal wear hire shop

Grooms and wedding parties, prom-goers and their families, and guests at black-tie events and balls.

Hire fees per outfit or per wedding party package, deposits, and add-ons such as shoes, ties and accessories. Group bookings for weddings are often the most valuable.

• Retail and customer service
• Knowledge of sizing and fit
• Stock and diary management
• Basic alterations or a tailor you trust

• Rent, business rates and a lease commitment, so check the full costs before signing
• Public liability and stock or contents insurance
• Stock tied up in styles that go out of fashion, so buy carefully
• Strong seasonal peaks, with quiet months to plan for
• Employer's liability insurance if you take on staff

Startup costs are typically estimated at around £10,000 to £40,000, depending on your stock, shop fit-out and fitting rooms. Check rent, business rates and the full lease commitment before signing.

Monthly revenue is typically estimated at around £3,000 to £12,000, depending on your range, location and bookings. The trade has strong seasonal peaks with quiet months, so plan your cash flow. These are revenue figures, not profit.

Check the rent, business rates and lease terms, plus public liability and stock or contents insurance. Also buy stock carefully so you are not left with styles that go out of fashion, and check employer's liability insurance if you hire staff.