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I wasn't sure where to post this but thought I would start here I am currently researching opening my own consignment/thrift shop and was wondering if anyone currently owned one, or knew someone who did that could offer feedback on earnings potential. Primarily selling clothes and household items. Any help would be appreciated!
Wife's daughter owned one, and took a bath by her embellizing partner. Wife's advise: Go it alone! Control all the business as sole-owner. Hope that helps. Good luck!
While I never owned one, I think there's a demand, but you need to be in the right area. I've sold things through 2, and both are doing well. One for children's items and the other high end designer. good luck with your venture!
I wasn't sure where to post this but thought I would start here I am currently researching opening my own consignment/thrift shop and was wondering if anyone currently owned one, or knew someone who did that could offer feedback on earnings potential. Primarily selling clothes and household items. Any help would be appreciated!
Looks like a better and better business by the day...
If we are headed into any kind of economic downturn (or even a threat of one) it would be a better time to be in that kind of business. People that might have bought new would now think of used and folks that might have held onto things might now want to consign.
Thanks everyone - yes, this would be my own business - no other partners other than family helping out.
Really great point Dave1215 - things always get a little squirrely during an election year.
Can anyone comment on profit level for this kind of business? I don't expect to make millions but enough to substain my portion of the family income needed to keep us floating down river to retirement and college funds.
Thanks everyone - yes, this would be my own business - no other partners other than family helping out.
Really great point Dave1215 - things always get a little squirrely during an election year.
Can anyone comment on profit level for this kind of business? I don't expect to make millions but enough to substain my portion of the family income needed to keep us floating down river to retirement and college funds.
Most small business fail within the first two years. It will take some time to show a profit. I think it is a good idea however, do it with sizable bankroll behind you. Filing a "C" form with your 1040 is where you can come out ahead this year. Will you have any taxes taken out from other sources? The botton line on the front of the 1040 needs to be 0. You will be able to get all your money back.
I don't endorse these, am not familiar with them, and have not totally read them.. I was doing some research on business plans and just happened to notice that they reference Consignment Shops and remembered your post.
I am a real estate agent and with the market being so slow, I have rented space in a thrift/antique store. The owner takes a cut of 12% plus rent for the space. I think what he charges all his tenants covers his overhead. He says he spends anywhere from $2000 to $4000 a month on product and makes around $8000 to $10000 reselling. Hope that helps a little. Also, keep in mind that a lot of people are now doing their "thrift shopping" on e-bay.
Has this buisness idea worked yet and has anyone seen this posting. I too would like to see how this business has been doing since 2007.
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I am currently researching opening my own consignment/thrift shop and was wondering if anyone currently owned one, or knew someone who did that could offer feedback on earnings potential. Primarily selling clothes and household items. Any help would be appreciated! 
