Start a Resale Shop
We have been in the resale business for about six years and in that period of time, no doubt hundreds of those who started a resale store went out of business in a short period of time. As providers of consignment software, we are continually amazed at the degree of 'unpreparedness' of people who attempt to start resale shops. We spend a good bit of our time on the phone and in various forms of communication educating shop owners after their doors have been opened. It seems that a fair number of these entrepreneurs are half-hearted attempts at a second household income, so there's not a family's welfare at stake, then there's those who just don't have a clue as to what they were getting into before taking the plunge.
How to Start a Resale Business
How to Start a Resale Business is an immensely helpful reference for how to start a resale store. It's (73) 8.5" x 11" Pages containing 24,000+ words of hints, tips, advice and information. It covers everything from legal requirements to insurance advice, administration to business name, location and advertising. There's sections on forms, agreements, certificates, check-in procedures, pricing and item selection. There's explanations of consignment terms and provisions like layaways, wish lists and settlements. And of course there's thorough coverage of consignment software and hardware and pitfalls to avoid so as to not get caught in the price traps of software vendors (like 'Consignpro').
If you are going to start a resale store we strongly suggest that you study first. Visit other shops. Talk to the owners. As a group the community of resellers is a friendly helpful bunch and you might be surprised at store owners' willingness to give free help. Of course you might want to avoid those in the immediate vicinty of your proposed location but even at that it would be helpful to observe things like traffic patterns, parking, store layouts, etc.
These days there is also a proliferation of free guidance and resources online. Use search phrases like 'free consignment' and see what sites come up. There's also free - Consignment Agreements, Gift Certificates, Store Coupons, Check-In Forms and Sample Invoices (Sales Receipt) in our resale book. If you have the personality and the tenacity to work hard, there's plenty of help to be hand all around you. The guide will give you a very good look into what it's going to take to succeed. Good luck!
