With the economy in the doldrums it’s no wonder so many people are turning to resale shops to buy clothing and household items. For the person who has some business expertise, organizational and people skills, a consignment shop is an ideal way to capitalize on this trend. If you’ve been successfully selling at garage sales or flea markets, you may want to move up to selling in your own retail shop. Opening a consignment shop is a perfect way to get into retail selling without a huge investment in inventory and equipment. It is the ideal business for a one person operation or a small staff. The profits may not be spectacular, but you can earn a respectable living with a successful consignment shop. What Will I Sell? Just about anything that people want to buy second hand acrylic sign holders which is an ideal option for a consignment shop. This advertisement includes of clothing, toys, furniture, sports equipment, books, musical instruments and more. Some people opt for a general assortment similar to a thrift shop where many items can be found. Others may choose a narrow specialty like maternity, vintage or children’s clothing. How Will I Price My Inventory? Some owners allow the seller to set the price of plastic sign holder what they want to receive for an item and add a certain percentage for profit. Another method is for shop owner to set a selling price and commission percentage. A common percentage is 60% to the owner and 40% to the seller. Some shop owners choose to purchase items outright for resale. In this way, the shop owner doesn’t have to split the profit when the item sells. In this scenario, a lower price should be offered to the seller since the shop owner is taking most of the risk. Be sure to draw up a contract for sellers leaving items for consignment. What Equipment Will I Need? Once you’ve located a space, you will have to decide how to set up your space for selling. To save money, consider buying used retail store fixtures. Display cases, mannequins, cash registers, sign holders and even display lighting can often be found online or at auctions. Check local newspapers for stores going out of business. Many times retail store fixtures in nearly new condition may be found in this way. How Do I Promote My Business? Check out local weekly newspapers, penny savers, acrylic sign holders and community bulletin boards. Place flyers in neighborhood coffee shops, libraries and day care centers. Use social media to advertise your business giving a description of what you will be selling. An email blast to your contacts can help to generate excitement. Try setting up an attractive but inexpensive web page for those who may be searching the internet.
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