How To Start Your Own Thrift Store

When I walk into a thrift store like Good Will or Salvation Army, the bulk of the inventory is clothes, some books, some furniture, maybe appliances. The things I see people looking at the most "clothes"

If you have decided to open a used clothing store, in my opinion, this is a good choice. Especially with today's economy. People from all walks of life are looking for a bargain.

So, for this lens we will use clothing as an example. Clothing is not just limited to shirts and pants. Don't forget about handbags and other accessories like belts and shoes. Don't stick to one size or style have a variety. Keep in mind there are loads of people who like vintage clothing and will pay a premium price for them. If you don't believe me just do a search on eBay for vintage dress, and see what is happening. My point in mentioning this is to say don't toss it aside if you think its old and out of style. The photo was borrowed from www.poshgirlvintage.com (thank you)

Your probably asking yourself right about now, "where on earth will you get your start up inventory?" The first place to look is at home, if you haven't worn it in a year its time for it to go!! How many family members and friends do you have, let them know your plans and ask them to clean out the dressers and closets. They also can spread the word to their friends, this can become a huge pyramid. At your church or local community center post a bulletin asking for donations, offer to pick up the items. You also have great possibilities with yard sales and garage sales. When your shop is open have a donation basket. Even if your thrift store is not for a charity people will bring things, you may even offer a store credit for their items. Be creative with your inventory seeking there are many more ways not mentioned here.

The consignment shop is just that you sell other peoples items for a commission, and there is no out of pocket expense for your inventory.

1. What kind of store will you have?
2. Start building your inventory, starting at home and with friends and family.
3. Find your desired location (reasonably priced and with room to expand).
4. Develop and follow a business plan.
5. Set up your store and prepare to open your doors.

Remember to take a look at the other local thrift shops in your area, how are they set up, what do they sell, what will you sell?

FYI... Thrift stores have seen a 35% increase in sales over the past year do to the economy. Some stores may have a $20K profit a year while others may have a $100K profit. Keep in mind profit is what is left after everything is said, done, and paid.

We opened on Monday July 6Th as planned. We have found so far Monday's are very slow, and sales get better day by day as the week progresses. Not a huge start but our first week we topped 700.00 in sales. No advertising except word of mouth. We have a mixture of items from clothing to dishes to furniture. We have had several people approach us asking if we take donations. Of course we do and so should you. A lot of it will most likely be trash, but also a lot will be unique items. We also have had people approach us asking if we purchase items, sometimes yes, but I think doing a store credit is the best way to go.

We are hoping for the same or better this week. We will come back for an update.