How to Start a Thrift Store
Thrift shops have become a favorite destination for savvy shoppers. Proof positive that this industry has grown in leaps over time. Read this article to join the action and open your thrift shop.
The thrift shop business offers an exciting and fun way to earn money.
This industry has increased in popularity over the years, thus making it a nearly foolproof business endeavor. The market pull of thrift shops stems from the simple and undeniable fact that people love bargains.
There are several aspects to focus on when starting a thrift shop business. What follows is a set of questions every person wishing to go on board this industry should ask one’s self.
What to sell?
Decide whether you want to specialize in a particular range of products or sell a little bit of everything. If you opt for the former, make sure your merchandise is in accord with your interest. If you are fond of clothing, then specialize in clothes. If you are into furniture and home essentials, specialize in those, etc.
Once you know what you want to sell, you go on to the next step, stocking up on your inventory. This is the fun part. You get to hunt for items you feel will sell and earn you a profit. There are several places you can explore. You can visit garage, clearance, or estate sales. You can also go directly to the manufacturers and see if they have overruns they want to eliminate. While you’re there, check out when is their next warehouse/inventory sale. If you would rather have your fingers do the walking, you can surf the Internet. There are some pretty online auction sites where you can bid on goods in bulk.
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Where to sell?
It would help if you gave ample time looking for the perfect spot to open your shop. This task should not be taken lightly because location can make or break your business. Choose a prominent area with a high percentage of foot and vehicular traffic. The rule of thumb to be followed here is “Be where your customers are.”
Another consideration is the size of the space. Your floor area must accommodate your stock and your display units, racks, showcase, counter, etc. Make sure you get just the right size of space. Getting too big a place will be tough on your operating budget since it follows that the bigger the area, the higher the rent. On the other hand, if you select a space that is too small, you won’t be able to showcase your goods correctly, and your customers might likely get put off because of the cramped space.
Whom to sell to?
You need to identify and create a profile sketch of your target market. Find out what they want and what they’re not getting. Immerse yourself in the locale to understand what your consumers prefer. Also, check out the competition. Determine what their fast-moving items are and how much their goods go for. This is another way to get an idea of what your market likes and doesn’t like.
Of course, you must first put your name out there before you can tap into the local market. To do this, you need to instigate an advertising and promotional drive. For your campaign to be more effective, remember your target customers when you strategize.
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I do have money to start, so my concern is where to get all the items either for free or at a fraction of the price? Anyway, I am very excited about the idea, but it seems to hard when looking at the GoodWill or major Thrift stores in the area. 1 Good will store has more than 50 employees! How can I compete with that? Thanks, G
People were generous to donate the opening merchandise. I do hope/pray they will continue once the shop is opened. We decided (due to space limitations) to only sell one type of clothing. We cannot sell furniture due to lack of space, but will sell shelves, clocks, & very small furniture. We are not selling any electronics only because after receiving donated electronics for the past several years, there is a high amount of non-working products & we do not want to sell defective merchandise. We plan to sell clean & working items.
There will be a large section of ocen-themed items since the library (Lighthouse Library) has an ocean theme. There is even a 25-ft working lighthouse on the library site. People passing through Kansas can stop in, see the lighthouse, & buy something in the shop to remember their stop-over.
We have a tiny chapel planned to use up the left-over building material (Tiny Heart Chapel). My husband thinks this project is silly - but everyone I've shared it with loves the idea. It is called Tiny Heart Chapel because it is so small & is in the heart of America. I have donated & historical items donated by several area churches. Other items were purchased from church auctions.
Everyone has been very supportive & are patiently awaiting the opening. I quit my corporate job in the big city of Wichita, KS. I am a licensed teacher & am praying for some sort of online teaching assignment or some college courses to teach online while at the thrift store. I have no clue how our family will meet our financial obligations. I just made the plunge because one day at my job, it seemed like the right time. I am trusting God for the outcome. Someone on this post stated something like "Where God leads, He will provide." I love that!
I do know that a thrift store will help our local small rural Kansas town. There is little to do there. People need a place to stop by & get a Coke, shop for gifts, or just visit. We have given away food boxes for several years to those who need food. We have given away coffee or hot cocoa in the winter for anyone stopping by (at our other location). We had free space at another small town, but were asked to leave due to a paying renter in the building. At first, we were very hurt. But it turned out to be a huge blessing in disguise. What others help for evil, God turned into good - as is always the case.
I wrote a book, Whippoorwill:A Journey Through Loss - & proceeds from the book go to help finish the library project. Here's our website: http://www.freewebs.com/eccrc
It is my desire to run the library & thrift store, see families enjoy the peace & quite of the lodge, & get the chapel built. Financially, this is one crazy idea for my family. But sometimes you just have to follow your heart & trust the Lord. He has brought us this far & has brought us through some very deep valleys. I love to help others & love to be out in the community visiting with families. Can't wait to get the computer lab up & running & start teaching basic computer workshops again!! Please pray for us & we will pray for all those on this website who also have a heart for others. Thank you & God bless. You may e-mail me at ECCRC at: eccresourcecenter@yahoo.com
I have some money and I seek an entrepreneurial person who may want to partner with me to start and operate a for-proft thrift store in Northern Virginia. We can identify the social causes, churches, and non-profit groups that we want to financially support once we are up and running.
Life is definitely a lot richer and more meaningful if you can make someone's life better and our collective efforts can strengthen families and communities. God bless all of you for your stories, advice, and messages of encouragement and inspiration. Thank you.
1. collecting used clothes and shoes, used equipments and diverse items and selling them to the public in Aurora. The proceeds would be used to finance research for epilepsy and other diseases in the State of Colorado.
2. collecting used clothes and shoes, exporting them to the Democratic Republic of the Congo and distributing them to low-income families and retired people without financial resources.