| When times are hard, it is a person's survival instincts | | | | you and your consignors have agreed upon must be |
| to find a way to lessen his expenses and avoid debts | | | | made legal. Put into writing your store's policy including |
| as much as he can. However, since certain needs | | | | the items that are eligible for sale and those that are |
| have to be provided for, there's also a need to spend | | | | not. For your business and your protection, your |
| more money. People who want to save on certain | | | | policies must be enumerated in details, printed and |
| items go to resale shop to get them at cheaper prices. | | | | signed by you and your consignors. Having a legal |
| If you are always first in line when there's a good | | | | contract reflects your work ethics. |
| bargain, opening a consignment shop is an ideal way of | | | | One of the most important aspects that you need to |
| turning your skill into a potentially profitable business. But | | | | consider when opening a consignment shop is the |
| before venturing out into this kind of business, make | | | | location. Your shop should be visible and accessible, |
| sure that you have done your research well to ensure | | | | with enough space for parking cars. Choosing the right |
| its viability. | | | | spot where you will put up your shop is one of the |
| To be able to start, you need to look for consignors | | | | trickiest parts of the business. The location that you |
| who will provide you with items to retail. A portion of | | | | are going to choose should be surrounded by all kinds |
| each item's price goes to them when it is sold. In a | | | | of incomes. Different kinds of people, from all walks of |
| way, they are also part owners of the business. | | | | life, are potential customers. Most of them frequent a |
| Before accepting items and selling them, you need to | | | | consignment shop to buy things for less than their |
| discuss with your consignors the percentage of the | | | | actual costs while others go there to find some rare |
| consignment sale that will go to them. Perhaps, you | | | | items. Potential consignors also share the same |
| can agree on a 50/50 or 60/40 split. You also need to | | | | reasons for bringing in their used items. Some of them |
| clarify firsthand the method of payment to be used. | | | | are looking for ways to earn extra cash while the rest |
| You can offer cash, check or any other method that | | | | just need to empty their closets. Make sure that you |
| all parties find convenient and accessible. | | | | do a demographic study so you can zero in on your |
| Keep in mind that proper documentation is needed | | | | potential customers and consignors flawlessly. |
| when opening a consignment shop. Everything that | | | | |