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Posts Tagged ‘buy-outright’

A shopkeeper asks:

“Can you tell me how to figure out how much it costs to accept a single item?”

Auntie Kate answers:

This figure is not easy to pinpoint exactly, but we can get a rough number in two steps:

1- Your daily overhead, divided by the amount of time spent per item (obviously, an average). That’s the FIXED COST. Do not include expenses directly related to employees at this point. If you have only one person working, use the full amount of the time segment; otherwise, divide the daily overhead by the number of staff normally present.

2- PLUS how much the person (more…)

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Your back room isn't this bad, is it? says Kate Holmes of TGtbT.comHow many times do you or a staffer touch incoming merchandise?

Ever thought about how much time that takes?

Ever thought about how much MONEY that takes?

  • Take the batch from the consignor/ seller/ donor. Put it in your accepting area.
  • Label it with the info you will need to later process it.
  • Sort into things you can accept and those you can’t.
  • Enter it into inventory.
  • Go back and price each item.
  • Rehang, fold, whatever. Maybe even steam it? Place on the sales floor.
  • Label NTYs. Move them into short-term storage. Fetch them when the consignor/ seller comes to take them back.

I’m tired just typing that. Think about how you operate. Is there a way to stop touching these items over and over again? A way that not only will make you more efficient but that will please your supplier? A way that will allow you to get incoming on the sales floor in less than 24 hours? A way that your time can be spent selling, not accepting (after all, selling’s where the money is!)

Here’s an excerpt from Your Money-Wise Guide to Accepting & Pricing to help you make the most of your accepting/pricing time:

Tricks to quicken clothing check-in:
1- First, check the areas most likely to have too much wear: armpits, crotch, neck and wrists. Stains,  pilling, discoloration. Then, whether any elastic the garment might have is still snappy. Soil often shows most on the satin neck label.
2- Check for fading across shoulders, under lapels, across collar. Yes, things fade even in dark closets.
3- Next, holding the hem of the garment, pull it out so the front is as parallel to your lights as possible. Spots and stains pop out (this is the real reason for items having to be on hangers, and of course for having good lighting at your check-in area!)
4- Check fasteners: buttons, snaps, zippers. Then seams and hems (both for no missing stitching and for twisting which results from a garment being cut incorrectly when it was new and once it was washed, skewing. Knit fabrics are especially prone to this.)
5- Not everything, of course, is “good as new”. But at this point you need to examine according to your own standards. Is a missing button okay on an Escada suit, but too much of a flaw on an Anne Klein dress? Is that Eileen Fisher T-shirt artfully faded or is that Hanes T just too greyed? A bit of wear might be acceptable on something you really need (for example, a size 16 mother-of-the-bride outfit) but not on something you have an abundance of (size 6 Levis.)

And of course you don’t need to go through this entire process if the item is one that doesn’t pass the first few tests: a style your clientele wants, clean, odor-free. THOSE items get put aside without a second glance. The above 5 steps don’t matter if it’s not a style your customers will buy, if it’s soiled or reeks of smoke/ moth balls/ pets.

For more on how to accept and price incoming with profit in mind, get your own copy of Your Money-Wise Guide to Accepting & Pricing, a Too Good to be Threw Product for the Professional Resaler. Wouldn’t you love to have an hour or more back, every day? You can!

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The big news? Jeans are out, yoga pants and leggings are in.rEMEMBER fARRAH AND BELL BOTTOMS?

Will your prices on denim… and your prices on lululemon… need to be

(more…)

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After all, some Auntie Kate messages are, ahem, Too Good to be Threw!

Click the image for more Deja Vuesday posts that are too good to be threw from TGtbT.com

Deja Vuesday

where you can visit a gently-used, blog post in case you missed it the first time. It’s even better the second time around.

Are you targeting your marketing efforts properly? Quality, condition, and stylishness in your incoming makes your shop grow. Think about it, whether you’re aiming to attract consignors, sellers or donors.

Attracting the High-End supplier.

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A thought for all shopkeepers, not just those who have resale or consignment shops. One thing that I love about being in retail is that our feedback is often instantaneous, and totally controlled by what we do.

Here’s to doing what works best for YOUR future in 2013!

 

Source: tgtbt.com via Kate on Pinterest

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Post-Christmas promotion for consignment, resale, thrift shopsJust like we suggest to consignment, resale, and thrift shopkeepers that they motivate suppliers to clear their closets of Halloween costumes every November, this week is the ideal time to

stock up on Christmas sweaters

for next year. After all, no one wants to store them for the next eleven months, and YOU want to be sure you have them bright and early next Christmas.

(Remember, do NOT call them “ugly” sweaters when you’re trying to get them in, or Aunt Sally, whose favorite holiday sweater is now, alas, 5 eggnogs and a fruitcake behind her, won’t bring it in.)

It’s not just that you want the sweaters… it’s a great way to remind folks that they can consign, sell, or donate stuff now that

they’ve gotten something new

to replace it with, and of course… you want those shoppers

shopping your after-Christmas sale event

too, right?

Remember to repeat your advertising message a few days after New Year’s too, for those hard-core Christmas sweater wearers who can’t part with them just yet.

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Talking buy-outright (or even consignment) for store credit only amongst some resalers.Wanna listen in?

Do any of you have shops that just offer store credit?? No cash/check payouts?? People usually (more…)

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