Opening a consignment store can be an excellent business move for the right individual, but before you open your doors you need to know how to write a business plan for a consignment shop. The business plan defines the scope of your business, lays out how you are prepared to succeed and details the relevant experience you bring to the new venture.
If you have an eye for second-hand treasures and the heart of an entrepreneur, then opening a consignment shop is just right for you! Be your own boss while running a quality consignment shop. As a client, you have the service of someone selling your things for you, only forfeiting a percentage of the sale cost.
As a consumer, you score some great deals! But how do you go about starting up? For a consignment shop, you will want to find a good and busy location. Downtown areas or busy strip malls are typically ideal locations for a consignment shop. While looking for that perfect location, it is important that you are also looking into registering your business with the state and again locally in order to be conducting business the legal way.
As far as stocking the store goes, initially, you will need some things to attract business. Be sure to post advertisements in newspapers and on Craigslist looking for consignors, have a sign out by the road, and ask family!
You can also keep a close eye on the Craigslist page for free items and snag those up, as a lot of times, the stuff is in perfectly good condition! One important aspect about opening a consignment shop is that you really need to stay organized!
Consignors will need to sign a contract which protects both the business and the consumer. Each item that comes in that door should be assigned a unique stock number, in which you will need to record on a spreadsheet in order to keep track of the sale.
Careless record-keeping can get a consignor in trouble and lead to an accidental breach of contract! If you plan on having the business around for a while, then you will want to have a good, catchy, brandable name! Not all consignment shops are centered around clothing.
Some may deal strictly in baby and children items, while others may fancy antiques and vintage items. If you have a specific consignment business, and you likely will, reflect this in the name. Having a name containing rhyming words can make it a lot easier for customers to remember your name, thus drawing in more business.
Consignment shops typically stay small and have a single employee, which would be you! Now for some consignment shop names to get your gears turning:reviews of Fashionphile "I've only bought a couple things and I've sold a few things to them as well.
I wanted to sell more, but their offers were insulting. Sometimes you can get a better offer if you submit it twice, but that's only if you. The Business Concept. EXCHANGE YOUR LOOK, LLC (EXCHANGE YOUR LOOK, LLC or the Company) is a consignment center that will sell up to date, fashionable and slightly used clothing for all ages.
The Company will also sell used furniture in good condition as well as kid’s toys. The Company is located in Woodbridge, New Jersey. Shopping 12 Of The Best Places To Buy Used Clothing Online.
You won't have to leave your couch to get these epic deals. Green Angel Farms is a greenhouse production farm on beautiful acres.
Using locally produced fish fertilizers, compost and cover crops, the farm is a certified organic operation currently producing 5 to 10 varieties of greens and edible flowers for the local farmers market and discerning restaurants.
Whatever type of retail store you're starting, a good business plan is essential. Get ideas from this assortment of sample business plans for clothing stores, online stores, e-businesses, gift shops, eBay, art galleries, and other retail businesses.
So, I wrote a previous post on the 5 First Steps to Opening Your Clothing Boutique. In Step 4, I talk a little bit about researching what brands you want to carry in your boutique. Today, I’m going to go a little bit more in depth on how to contact the brands you want and what information they will need from you.