Are Second Hand Stores Still Lucrative?

Second hand stores, known also as thrift or consignment shops can be a way to own your own business and make some money. With these stores thriving on the internet, it can be difficult to make a profit in this competitive market. There are some things to consider when opening a brick and mortar thrift store that can make it successful in today’s market.

Franchise

Buying into a second hand store franchise is a safe way to enter the consignment store business. There
several popular stores whose established name and reputation will attract clientele.

• Once Upon A Child

They resell gently used items for babies and small children. They stock everything from clothing, to baby gear & toys. It is possible to find brand new items because people will sell their unused, outgrown baby things.

• Plato’s Closet

This is a popular with teens and twenty-somethings who want a trendy look at a very low cost.

• Style Encore

This store resells women’s casual and business clothing as well as pre owned designer handbags and accessories.

• Play It Again Sports

Play It Again Sports resells quality sports and exercise equipment.

• Music Go Round

This music store will make trades for musical instruments and resell.

Investment

Starting any business requires a financial investment. If you are selling in a brick and mortar store, you will need to consider rent, utilities, business licensing, advertising and more. You will also need to spend some money to purchase your second hand merchandise but may not be able to mark it up too much.

Location

One of the key components of a successful second hand store is location.

• These stores attract people from different backgrounds so your clientele will be diverse.
• You do not want to pay high overhead because you are selling used items at low costs.
• You should be aware of the competition in the neighborhood you sell in. If there are other retail stores in the general area, you need to make sure your store’s items compliment them so customers will be apt to drop in and see what you have to add to other purchases.

Know what to sell

• Searching through antique sales, flea markets and yard sales is time consuming, but if you know what is of value, it will be worth it.
• Research the internet to find out what items will be in demand and what items people will be willing to pay for them.
• Group higher valued items such as designer clothing separately and make sure customers will see them.
• Scan the local market to get the best possible vendor. Use Google to find wholesale used clothing distributor that will supply you with decent clothes at competitive price.

Second hand stores have been popular for many years. More recently, people will shop at these stores because they want to find a good deal and know what they are looking for. They also have the internet available to understand the real value of certain items. You can create a profitable consignment shop. If you choose a great location, choose mostly profitable items to sell and attract customers to your store, you can be successful.