I'm looking to go into business for myself and I noticed that since I had my son, I love going to resale shops in hopes of a great find. There is a shop close to my house that is great. Very clean, organized, etc.
I keep wondering how hard would this be and would it be profitable...
Would love to hear anyones experiences or tips.
I know I would not get rich, but is it worth the time and effort?
Are you thinking of doing this because you like the idea of a second hand shop or are you looking to open a business? I know traditional businesses are sometime tough. You have quite a bit of overhead (rent, insurance, employees, etc.) and it will take up quite a bit of your time. I looked into many different avenues before opening my business.
Hope I helped.
:)
My friend has outlasted 6 stores closing. Only one other remains open and they send customers to each other because neither one hardly ever has the big items. They sell out fast.
I will tell you the truth. Her husband has wanted her to close it since the first year. She makes a profit and she would take home more if she worked for someone else. She makes most of her profit when she convinces people to trade in things for store credit which they spend on really overpriced items($3 minimum). Jeans up to size 6X run at 8.95 which is ridiculous. I don't even shop there unless she is paying CASH.
She can't afford help so she has 2 relatives who work for free occasionally.
The other owner strictly pays cash. I take all my big items there and she gives me a check on the spot. She is the one everyone goes to first.
Her store is larger, more organized, and also barely making a profit.
Both their husbands told me their wives would make more money in less time working for someone else.
Do you know someone who would let you use a property for free and just pay costs? Can you fix the building up yourself?
DO NOT BUY INTO A FRANCHISE. You will lose in every way.
These women have 10 and 24 years experience with no help from anyone.
One does have set prices for how much she charges for the usual things
(play kitchens 35/sell for 70).
Hello J.,
In just the past year and a half my mom and I seriously looked into a resale boutique. We had found a location, a name for the store, racks and other things. But upon visiting another resale shop (several miles away) we found that it is way too much work for what little you make. Surely the first year you will not make a profit. Also the amount of hours you will need to work is crazy. You'll find yourself not being able to go to the school to particpate in your children(s) activities or to help out with his/her class or to go on a field trip not to mention that you will no longer have weekends. I just felt that I would ultimately resent the store. Also the amount of money to open a store is a lot, especially in this economy.
Hey, if you have some extra time, maybe you might talk to your favorite resale shop about working there so that maybe you can get first dibs on items and actually see how much work goes into it.
I think you can buy a "Once Upon a Child" franchise. That would give you instant name recognition. I can only say from the shoppers perspective that I look for just what you mentioned. Clean and organized. I wont even look at the clothes if they aren't meticulously grouped by size. I would suggest having a small play area, I can't shop with a kid on my hip, so it's in and out. The stores that have a little padded play area get my business. I would also suggest networking with church mothers day put program and area daycares. A small donation will usually get your name out there with the local mommies. One more thing - there is a plus sized resale shop in my area that is so cool. Don't forget about having a maternity/plus size resale area.
Why not ask the owners of the stores you go to?! They may not tell the whole truth but you might get a flavor of what they do... I know the owner of the Funky Frog resale in Rochester is always willing to help out fellow business owners....
It absolutely must look great and be organized and in a good location. It's probably going to be a lot harder and make less money than you think. You will need to do a lot of number crunching before you start. Put together a good business plan. Get lots of people to look at it and give their honest opinion. Starting any new business is tough, especially retail. Get advice from organizations aimed at helping start-up businesses. If you don't know of any in your area, go to local banks and talk to the people that do small business lending. Hopefully you are not planning on borrowing any money to start up (because it's next to impossible for a retail start-up to borrow) but they should be willing to point you in the direction of resources in your area to help you with a business plan, etc. (I was a business lender in a former life :)
