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How to Open a Consignment Shop


usiness Overview:

If you are looking for a business idea that is easy to start, profitable, and green, you must learn more about how to open a consignment shop. Opening a consignment shop can be exciting and fairly easy. What you need to start, aside from the usual business license, permit, and insurance, is a good storefront location. Once you’ve gotten this far, a catchy name and a supply of the type of inventory you are interested in selling will get you on your way to starting a consignment shop that is fun and profitable. The inventory you’ll need to start a consignment store comes from individuals who want to sell their gently used goods but who want a reputable store to help them sell their items. This can be a real win-win situation in that you get your shop’s inventory for free (on promise) and the client has an opportunity to sell their treasures for a solid profit without any of the work. Plus, you can decide precisely which items you want to stock for sale and which ones you want to pass on. While you might initially think of a consignment shop as a place to sell used clothing, there are so many more options. You might choose to sell home goods or baby gear, or perhaps your store is chockablock with decorative treasures for the home that you adore. You could even focus on more practical household items such as dishes and pictures to help the first time homeowner. In this business model, the world is yours. After you and the client have signed off on a consignment policy outlining all the details of your business transaction, you put the items up for sale in your store. When the item sells, you contact your client (usually on a monthly basis) and they receive the percentage of the profits that they agreed upon in the consignment policy. When you’ve figured out how to start a consignment shop that fits your entrepreneurial desires, you can rest on your laurels knowing that you’re doing your part to reduce, reuse, and recycle while you and your clients profit.


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