SmallBiz Tips: The Art of Resale

Have you looked in your closet lately only to discover there are more clothes you don’t wear than clothes that you do? This is a common concern for many, and you can help yourself and others who have the same problem by opening a Resale Shop.

A Resale Shop is an excellent small business, because you do not need as much capital as a regular retail shop. Consignments are not paid until the items sell; therefore, you do not have huge out of pocket expenses.

In order to obtain a status above the generic “thrift shop”, you should consider a merchandise theme for your Resale Shop. Such themes might include — Working Women’s Clothing; Men’s Suits; Beachwear; Cold Weather/Ski Clothing, or School Clothing. These are just to name a few, there are several opportunities depending upon your geographic location on which you could capitalize.

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SmallBiz Tips: The Art of Resale

Once you choose a location and merchandise theme, the next item on the agenda must be to choose a name that will draw in customers. Try to avoid “second hand”, “pre-owned”, and other readily identifiable names. You do not want to intentionally mislead your potential clients, but they may be more comfortable entering an establishment that does not appear as a “thrift shop”.

Screening of consignment partners and their merchandise is the next important factor when developing a Resale Shop. Only select the best quality merchandise, and offer 30-50% of the profit to the consignment partner. By selecting merchandise that is of quality, you are offering your customers consignment items not be readily identifiable as “used items”. Occasionally, new items will be consigned.

In a consignment environment, you must emphasize the quality and elegance of the business. Repeat business and “word of mouth” are your best advertising. Many of your clients will be the consignment partners, as they deliver merchandise to you, they will inadvertently browse through the merchandise on the racks. Other marketing ideas include yellow page advertising, billboards, personal mailers, newspaper and radio advertising.

Many people will purchase quality consignment merchandise from an upscale Resale Shop. No one would ever know unless you tell where you purchased the merchandise. With an eye for quality merchandise, the sky is the limit for an entrepreneur who begins an upscale Resale Shop.

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