Have your say!
I invite you to “comment” to this post if there are ideas and concerns you wish to share with your consignment, resale, and thrift peers. I do hope, as well, that you’ll answer the concerns of others here. You can even choose to reply to a specific comment (old or new) if you want to add your viewpoint.
See? Auntie Kate clicked “reply” to answer Tissa (so did Rene), and tpresson “replied” to Rene. (Click the graphic to enlarge)
Our industry is all about helping others…
as we would wish to be helped. The latest comments are at the end of the list, and you can “reply” directly to ANY comments, new or older by clicking the “reply” word directly above the poster’s gravatar/image.
Want to watch for an answer or reply? There’s a checkbox beneath where you enter your comment or your reply to a comment, which will send you an email when someone adds to the conversation.
Auntie Kate The Resale Expert 
Is there any expected time frame for the Sharing board to be back up and running? It can be frustrating not to have a place to talk to other store owners easily.
The Sharing Board is the only place I got any good information or had questions that I can just go and look up….
I loved reading the share board. I am int eh midst of writing up my business plan and securing a location.
I am struggling with the financials the Product and service section to be specific. Does anyone have any pointers as to how one would go about listing a product you dont have …and the price you would sell it for…that is not determined …and how many you would sell? Or is there an easier way to do sales forecasting? Your assistance would be most appreciated.
I too miss the sharing! Especially right after conference!
So, we are moving! Found a wonderful space downtown on the waterfront that is almost twice the space, but only 200 dollars more. The bad, well, it needs a lot of work. I was hoping to ask about buying outrigh. Right now I am doing it, and we have been able to get more out on the floor than ever before. My worry is of course if things don’t sell, are we out money. The bag sale coming up will help bring some of that back of course. I am being really careful of what I am buying, so I think we will be fine. Most people really like knowing what they are getting right away. A few want to know if we will be going back to consignment. I like that I don’t have to have a lot of rules, like I did with consignment. Things get done up front, so if we are backed up, the consignor isn’t upset that their stuff isn’t out on the floor. Anyway, just wanted to put my thoughts out there. Thanks!
Julianna
Best wishes on your move, Julianna. As for buying outright, yes, it can be a true plus for the experienced resale shopkeeper. Do you have the TGtbT Product The BIG Book of BUYING OUTRIGHT? You may find it useful for keeping your profits as good as you hope they will be!
I presume from all of us that “miss the sharing board”, Kate is compiling some pretty useful market data….what can we do to help bring back the board, Kate?! 😉
My shop’s been open for nearly two months now in a major, southern, urban city, and I can’t underscore the importance of opening during a “slow” period; it really has given us time to set up operations; space planning; conduct software training and address glitches; train staff; test market some special events; and integrate all of our operational systems esp. things like pricing and tagging. This trial period was especially helpful as we had several months of “free rent” before our lease payments kick in!
Kate, let us know if we need to subscribe to the Sharing Board, it’s worth it! I feel like the board died just as soon as my shop opened! 😉
Leigh
I’m sure there was no connection… unless you’re the hacker what done it, and I reckon you were pretty busy getting the shop open!
Hi all,
I own a kids consignment store and am losing business to the new “sell box of clothes” websites like threadUP.com. I’d like to get the word out to my community the advantages of shopping locally with me vs. saving a few bucks buying a $5 box of clothing.
Help!
How about push the fact that clothes can be tried on? Also let customers know what type of community involvement you are a part of. Do you donate to any charitites that help local children? I donate clothing to a pregnancy care center and my customers LOVE that. I sell blankets for a childrens charity on consignment and it works great. Have a way to get them in the door and then give them a wonderful experience and they will want to come back! Do your customers normally bring their chldren in? If so then give them a great SIMPLE play area. By simple I mean make it easy to leave when needed…my secret weapon…give them a sticker ONLY when it’s time to leave. It stops tantrums in their tracks and the kids are so happy, the parents are relieved…I get so many thank yous it incredible. I am a maternity resale store, 80% of my customers have kids in tow especially since it’s summer. I say since you sell kids clothes…do something that really helps local children and this will touch many mothers hearts…example: sometimes I stay up late and see commercials for St. Judes. I always want to wip out my wallet! They send me free address labels too! I feel like I have to pay them back so I do 🙂
I’ve seen a few of these websites and talked to a couple of people who have tried it. They were very disappointed with the quality of the clothes. Some received items with stains (small stains, granted, but still…) and will never do it again. The “new toy” always gets lots of attention, but if they don’t have staying power in the form of an excellent biz model, superior product and service, they will lose their glamour for your community. Hang in there!
On the flip side, maybe there’s an angle here you can capitalize on. If people like the idea, is there some way you can do a “box of clothes for $5”? Expired items, about to be donated items? Perhaps a Dutch auction where people can write down bids and the winner takes all?
I miss the sharing board so much! Especially now since I am coming up on my one year anniversary next week! I’m going to buy a bunch of pink 1st birthday decor 🙂 So here is what I have planned…were hosting a food drive for our local food bank. Each day next week we are having a daily deal that customers can take advatntage of by making a donation for the food drive. Every day they can enter a drawing for our MOMMY BASKET full of goodies over $300…free massage, salon services, photo session,etc. It is also at the same time as world breastfeeding week (when I first opened last year I didn’t know this even exsisted!) so we are also having a drawing for a breastfeeding survival kit. Along with a giveaway on facebook for more stuff donated by one of our vendors. Hope it turns out great, of course we have a bunch of giveaways like samples of body products that we sell, stuff for the kiddies, and these awesome magnets with our logo (I made them myself for an event that was very last minute) check it out on my facebook. It’s so easy and fun and my customers love them!
I am a little stuck as to what good deals I should have next week. I was thinking 50% off any top monday, and the same for any bottom the next day….does that sound lame? I’m saving a good one for Wednesday since this is my slowest day. Every day they come in, they are able to enter again for our drawing….I need some thought from the outside. My brain is stuck on the inside right now….any advice is welcomed and appreciated as always!
I’ve already sent out press releases. Since the sharing board has been down I haven’t had a chance to share with everyone great news…about us IN THE NEWS 🙂 Here are some links:
http://www.utahsbdc.org/DocumentMaster.aspx?doc=1258
http://www.sltrib.com/sltrib/neighborhooddaviscounty/52050068-123/maternity-store-rivera-clothing.html.csp?page=1
enjoy
Melissa, we have a 30 day cycle. We usually ask them to put themselves on it again if they still want it. There are some circumstances when we know to keep someone longer (a pregnant person looking for a specific item and not due for 5 months, etc).
I, too, really missing the sharing board! Question for childrens store owners – how long do you keep people on your wishlist? An example, I have a person looking for a Chicco double stroller but I took her information back in April. If I got one in today, should I still call her? Granted the example is for a large item purchase so I probably would, but what about people looking for a specific item in a specific size? Or those looking for newborn items? How long is too long? 3 months? 6 months? A year?
We use a rolodex for our wish list. I have printed business sized cards that have the item wished for, name, phone number, date, and discard date. The discard date has been really helpful, as it clues me in to how immediate their need is. Flower girl dresses for example.
I use a “discard date” of 3 months for most items and 6 months for large equipment. I also always ask if the customer has a time frame for the item. For example, if they are grandparents and their grandkids are coming to visit in two weeks and only staying for a week, it doesn’t do me (or them) any good for me to call on that playpen four weeks from now.
We keep them on the wish list for as long as it takes. Couple reasons- first off, its great customer service. Even if they have already found the item, they feel good that we called them to let me know. Gives them that small town feeling, that we’re looking out for them. But also, some people know it takes awhile to get product in, and if you have a preggo momma, maybe she still hasn’t had her baby? Lastly, alot of times even if they have found what they are looking for, there is something else they want and maybe we have it. So I’ve always kept the list as long as it takes. Good luck!
We just do one month. For one very popular item we call at the end of the month and ask if people are still looking. I think our wish list would be unmanageable and not very effective if it was 3 months long. It seems that most aren’t in the market for an particular item that long. Of course if we know them and know they are looking for certain things over time we’ll always give them a call. Of course, like anything it depends on your market. I believe my customers will find themselves the item they want if we can’t get it in a month and at several months may decide they don’t even need it.
I’m curious on the rolodex. Staff looks at the wish list updates when they come in. How do staff know what is a new request without looking through them all?
Hi Wendy,
Well, perhaps the shop that uses a rolodex uses dividers to sort their requests. E.g. shoes, purses, dressy, equipment…. that’s what we did.
The 2nd most overlooked function of wish lists is a: the personal service…you can keep in touch with your “wantees” and build a relationship…
The FIRST most overlooked function? Having a good, reliable, well-marketed wish list in your shop means, as it grows, YOU can determine market value in your particular shop. If you have 34 people wanting some sort of Coach bag but only 7 people wanting LVs… guess which you can price at a larger percentage of the original price… even if it’s not the EXACT Coach any of your wantees want.
Thus, a want list is actually specific market research in addition to customer service. And it’s free. Can’t beat that with a stick.
We do not have a discard date. Even when I think they aren’t looking for the item, I call them anyway. This let’s them know that we are still thinking about them. They always seem happy to get the call even if they are not in the market for the item. This is also reminds them of my shop if they haven’t been by in a while. I ask them if they would like to be kept on the list (if they haven’t found it) or add anything to it. We love our Wish List box! We also use this list to give to consignors. “What are shoppers looking for this month? Do you you have these items wasting space in your home?”
I miss the sharing board! I am opening a home decor/furniture store soon and I need to set up the credit card processing. Does anyone have any referrals of reputable companies that handle such matters? Thank you!
Hi Linda,
I have used Cynergy for several years now and am very satisfied, especially with the service provided. They’re recommended by NARTS too. Hopefully others will click “reply” on your comment and help you out here.
I use north american bancard. My accountant was trying to research to find a company with better rates and she said that what I had was excellent. Maybe check them out. I haven’t had any problems with them.
We use Cynergy at the Clothes Circuit in Dallas. I think there rates are most competitive and the service has been excellent.
Does anyone feel that now is not the right time to open up a shop? My husband is against me on this right now. Thinks it’s the wrong time. Feels the economy hasn’t bottomed out yet and is worried that I would fail b/c of this. He says no one is buying anything right now. Is that true for consignment? I think he’s wrong, but I’m not going to fight with him about it. I said I would wait until next spring (or really the beginning of next year). I do worry b/c all you hear on the news and radio and even the net is that the economy hasn’t bottomed out yet and it will and with this darn debt ceiling debate – it is scary. Thoughts?
Sabrina, you might show your husband the press releases on the NARTS site about average increases in resale business in the last couple of years.
However, if your spouse is dead set against your expending time, effort, and money in a business venture, perhaps it’s not something you wish to do at this time. Spend some time assuring that you have the recommended savings tucked away, volunteer at a similar shop if possible, and keep educating yourself.
When you and he feel it’s time to go forward, you’ll be all ready!
Just show up first thing the AM with the check, your ID and business cards that verify that you are the store owner; or your business license that has your name and the business name on it. Most banks will then cash the check for you.
Molly
Urgent help needed! A customer bounced a check and the funds are now available in their account at their bank. How do I get their bank to give me the money so I don’t have to re-deposit it and possibly incur more fees? Isn’t there some sort of check I ask for at the bank? TIA!
Hello there! Can anyone clue me in on what the best months are to open a shop? I’m ready to go in November. Should I wait until March? Don’t really want to spend capital on slow months right away if I could avoid it. Any thoughts? Thanks!
Hi Lucky,
When to open is mostly decided for you by lease payments… if you are lucky enough to be able to choose without financial considerations… I would still choose November! Yes, depending on where you are, Nov-March could be slow for you (although that’s HIGH SEASON here in Florida, what with snowbirds), but it’s helpful to open in a slow season to get your feet under you… to figure out what works and what doesn’t in your area, with your customers, and with you.
Ok it’s offical, I found an awesome place……4,000 SQ FT built in 1800’s the owners are going to remodel inside and reface front, I have over 3,000 items so far stalked up and everything is falling into place wish me luck….
Definitely, we all wish you good luck! Now, the thing you need to be doing? A “Watch us become a great shop” blog as you develop the shop, to build excitement and client buy-in even before you open. People LOVE before-and-after shots, love to follow as you make your decisions, love to chime in as you choose everything from paint colors to hours of operation. BEST thing you can do to get your shop off to a running start!
More on blogging as an advertising and promotional tool:
https://auntiekate.wordpress.com/2011/03/21/social-media-for-resale/
https://auntiekate.wordpress.com/2009/01/06/99-things-for-resale-shopkeepers-to-blog-about/
https://auntiekate.wordpress.com/2010/09/28/is-she-a-secret-blogger-or-him-over-there-or-that-other-one/
Using Facebook too:
https://auntiekate.wordpress.com/2010/12/01/use-your-facebook-photo-album-to-build-business-recognition-wom-about-your-consignment-resale-thrift-shop/
https://auntiekate.wordpress.com/2011/05/26/asking-questions-on-facebook-to-get-them-involved/
Auntie Kate, I have some questions and dont know who to turn to to ask, do you think 3,000 pieces of clothing is enough stock to start with? I am opening in Nov so hope that time of year will be good. What do you think?
I am also finally starting my children’s and women’s resale boutique. My idea is stylish and affordable. Boutique feel but with prices everyone can afford. I am in the process on negotiating 1000 square feet for anywhere from $250-$450 a month (that is not a typo)! Now the location is just okay. it is in the downtown area of my smaller town. They are trying to rejuvenate the downtown area. Not a lot of drive by traffic so I will have to use the $800 a month I am saving on lease to market.They are trying to I do love that the building is from the early 1900’s versus a strip mall but I know that I will have to market a lot. It is a small town so word will get out. I feel pretty darn comfortable with the lease as it is smaller then my car payment. It needs some renovation but we will be doing that work ourselves over the next two months with no monthly lease if the landlord agrees. The subleaser is very excited and agrees to everything so far.
Fantastic, Stephanie. It will be interesting to see, as you get started, how you spend that $800/mo on marketing, so keep us abreast, through this blog or by email, on your strategies there. And of course, your situation of an historic building, revitalizing downtown, and so on is PERFECT for great public relations! I DO hope that you consider my suggestion, starting NOW, on gaining loyal customers even before you open.
We’ve thought about using a “Groupon” like site just to get “more” noticed… That article Kate pulled up is very informative and makes us think twice.. or a million times before actually doing one. I checked on Yelps new “deals” program and even emailed them. It’s simple, you fill in the info they ask, select the checkboxes of the “fine print” type of info that applies to your deal, then submit it. Simple.. (I think, without looking into it too much more)
I believe we (our store) would still be making a little profit or more on our clothing, toys, etc offering some sort of 50% off deal. Our large gear would pretty much break even. Our new items, we’d lose money on. I contacted Yelp to see if there was a way to add a new checkbox in that is something like “only good on used items” or “not valid on new items”. They wrote back and said, no. The deal is made for everything, and it is a way to advertise. Too bad.
We don’t mark our hair accessories up very much, usually only 25% and then we have Mellisa&Doug that is 50%.. I know it’s for advertising, but I don’t want to actually lose money 🙂 I suppose we could pull all of our items that we don’t want to sell at a loss until the time is up that they can use the deals.. but, then they won’t get to see everything our store has to offer..
GROUPON
Who uses Groupon? Any Luck? Suggestions? Etc..
Appreciate it!
Avg ticket $43 is a $12 groupon for 25 value too high/not high enough?
They expire the promo portion of the groupon 6 months from issue.
Example: 25 gift card in 6 months will be worth face value of 12 (what they paid)
We get paid for the sold groupons in 1/3′s??? 1/3 the day after, 1/3 20 days later, and the final 60 days after… Sales rep from groupon said it was to prevent business from taking they money and running/closing shop.
Groupon takes 1/2 of the $12 + 2.5% credit card fee…. so we will only see $5.10 for every $25 purchase.
Only 1 per person may be used… one person can only buy 1 and 1 for a gift.
We exclude GOLD and Silver Items.
I am thinking we will not make money, but this is an advertising expense.
We will break even if we ring the sale in AT 50% OFF and add a misc fee called grouon difference for the 50% .
Example
$25 item, paid for with $25 grouon
ring in as a 12.50 item and add a 12.50 groupon dif fee
apply 25 groupon gift card
consignor of item (50/50) split gets 6.25 (store is out 1.15)
Now this is only if they ONLY use the $25 only… and not above… which we are hoping for.
Any thoughts?
Jarred, I ran across this article which may be of interest: http://www.retaildoc.com/blog/fallacy-converting-groupon-profitable-customers/
Hi Jarred,
I used a similar company for my local area. It did really well but I did have numerous customers asking to use more than one at a time. So my deal was $7 for $15. I believe I sold 77 of them and the company took half. Most of the sales were over the $15 amount and I had a few that were not even claimed at at all. I figured that I would still take them after the expiration (for the remainer of the month) but only let them have the original amount they paid for off ($7).The best part is that there is no up front cost. I would like to find a company that takes a lower percentage.
First off…I can’t wait till the sharing forum is up again!! Questions guys, so I have seriously wanted to to have rack in the store to showcase new items. The thing is that I am a small maternity shop, my intake is not hundreds a day, I sell most of my new stuff within days of receiving it. Is there a down side to having a rack with new items? Will my customers avoid the rest of the items and just check out the new rack? How would I get the other items moving? Just thoughts…first off I need an ACTUAL rack! My racks are all full 🙂
Hi Honey! If you sell things within a few days, I wouldn’t stress about maintaining a “new arrivals” rack…
But no, I don’t think your customers will only focus on such a rack.
What you really are trying to do, of course, is to get each customer to see the max items every time she comes in. This is what rearranging is all about! I saw a terrific store in Dallas that did a great job of “islands”. swing shops, t-stands, 4-ways of groupings… boho here, business there… adding all the accessories to the grouping too… so the gold link chains were with the professional wear and the jingle-jangle beaded necklaces were with the edgy stuff…
I’m sure you’ve found that simply re-grouping merchandise makes shoppers say “when did this come in?” “I never saw this before!” and so on…
It’s a busy summer! I just got back from two weeks at the beach with my family. The rest of the summer is dedicated to my new “intake/entry” area which finally, after 17 long years, will be behind a curtain/wall/door.
I’ve also hired a local firm to handle re-doing my website, getting us set up with social media, updating my logo and preparing all my print materials into a brand oriented format…I can do it but for a fair price, they will do it so much better and more efficiently.
Vickie…I instituted a policy a few years back…at the end of every day, the counter area was to be clear. It does make me and/or staff stay a bit more organized during the day (doing things right away rather than setting aside) knowing that we had to stay until everything that could be done was done (of course, some things carry over because of missed calls, need for more research, etc) I also labeled every drawer/cabinet door with what goes in there – no more stuff sitting on the counter looking for a home…even paper clips, scotch tape, rubber bands and scissors have a spot out of sight.
Kate…can’t wait to see what magic you apply to reconfigure Sharing! Good luck and thank you.
Christine, West Chester, Pa
My next project is reclaiming the area behind my counter. Because it is both my sales and intake area it needs to be redone. It easily gets overrun with needed to be completed projects. Any suggestions?
I would like to own a resale/consignment store within the next two years. I have some stock already, but what are some ways that I can collect donations (other than getting them from family/friends)?
Tissa, I invite you to visit one of the most useful pages on my site, which is the Start a Shop Page. The answer… and other answers you will want too… are at http://tgtbt.com/startashop.htm And best wishes!
Tissa- I just opened a Consignment store 2 days ago. I found a spot, advertised that I was accepting Consigment twice a week for 3 weeks before I opened my doors. I have a full store (1,300sq.ft.) and am busy tagging and hanging. Getting great stuff is the easy part, getting as many shoppers as consignors is a bit more difficult
Rene’–I am geting ready to open a children’s consignment shop with the next month and was wondering where you advertised to get consignors? I was going to hand out flyers to the local daycare centers to distribute to the parents and also to restate agents to give to new buyers in the area. Thanks.
Since we are in Summer mode, attend some events and pass out fliers 🙂 I have a couple this summer and I’m soooo excited, maybe you could get together with a charity and have something to benefit the both of you and send out press releases 🙂 Also, World breastfeeding is next month and the latch on america bus is touring through the US and having so many free events that famlies will be attending. Take advantage of them!!! Find out if they are touring in your state. I have a booth this Friday for the Latch On event and it’s FREE!!!! Which means I can’t sell anything, but I will get facetime with TONS of MOMS 🙂 Best of luck in your new adventure!
Honestly, craigslist was our best advertisement, along with word of mouth. It won’t take long to fill your store.
I’m curious, do have to have your business licenses before you started taking in consignments or just before you start selling? I’m just asking b/c I’m seriously considering opening a store. (As in selling my motorcycle for start up serious.)
Eileen, This question caries from location to location. You’ll need to find this out locally. Be sure to check every level of government, from town to county to state to national. Over on the Too Good to be Threw Links page, there’s this and more.
Thanks Auntie Kate! 🙂
Yes just make a call into your local small business development center, they are so helpful and FREE!