Most consignment and resale shops pay good money to obtain their consignors or sellers.
Posts Tagged ‘buy-outright’
How much does a supplier cost?
Posted in economics of resale, Shopkeeping talk, tagged buy-outright, consignment on May 11, 2011| 18 Comments »
What it’s worth. There…and Here.
Posted in economics of resale, Not-for-Profit Resale, Shopkeeping talk, tagged buy-outright, profit, resale shopkeeping, success on January 27, 2011|
“It’s worth nothing in your closet…your attic…your basement.”
How often has any consignment, resale, or thrift shopkeeper said that phrase. After all, if something’s sitting, disused, in someone’s home, it is worth precisely ZERO to everyone.
This is the persuasion we use to get folks to give these items a chance to gain value, to be used…and to make the owner and the shopkeeper a bit of money.
We also use the “It’s worth nothing in your closet…” approach to emphasize that we are adding value to their items by providing a shop, customers, heat and light and showroom and credit-card capability. The amount of value we add depends solely on our skills, knowledge, and retail talents.
And our skills determine our profits.
So why, oh why, if you are buying outright, would you gift your seller with more than her item is worth to her, because of your work and expertise and ability to make money?
That’s what you are doing, if you base the price you pay on a percentage of what you can sell it for. . . rather than the value the seller assigns to her items. Pay X% of what you will sell it for? What you can sell it for to one of your shoppers has nothing to do with the seller’s subconscious appraisal of her goods.
Let’s take a look at some Traveling Pants. Josephine has them. She wants to sell them to you. How much does she value them?
Maybe she bought them on a whim and paid too much. Or bought them on sale or even at a garage sale. Maybe they were a gift from someone. Maybe she swapped the Pants with a friend.
Maybe she loves them and hates that they’ve never fit right. Maybe she hates the color. Maybe they have happy memories or unhappy memories.
Maybe she’s motivated to bring the Pants in to you because she’s a fervent recycler. Or maybe she’s really hard up for money. Or….
The point is, the Traveling Pants have a value to her, and that value, high or low, must be met before she will agree to sell them to you. Are you following me so far?
Now, consider. None of the above has a farthingsworth of influence on what the Pants are worth to YOU. Because what they are worth to your business has everything to do with the business you have built, that you run, that you finance.
In fact, the better a shopkeeper you are, the smaller your buy-outright cost of goods will be.
The smarter you are about your business, the more profit you are going to make. And that’s how it should be, right? The Traveling Pants aren’t worth more to Josephine because you are talented and pay attention your business. So why pay her X% of the value you have created?
Suspect that you’re not adding enough value to your incoming goods…whether you consign, buy outright, or turn charity donations into funding? Here’s a Product for the Professional Resaler that you need.
Winter is OVER. I mean, OOO-VER!
Posted in economics of resale, Shopkeeping talk, tagged accepting, buy-outright, selling on January 24, 2011| 2 Comments »
Winter is OVER. I mean, OO-VER!
Your consignment or resale or thrift shop may have some dregs of winter merchandise left. You really want to get rid of them because spring…in a retail sense of course…is just around the corner. But before you turn your back on those 90%-off racks, consider them a tool to refine your business. These underloved unsold leftovers can be (more…)
Today’s TGtbT Teeny Tip for Consignment, Resale, and Thrift Shops
Posted in Shopkeeping talk, Teeny Tips, tagged buy-outright, consignment on November 30, 2010|
Are your supplier policies more user-friendly than your competition’s?
Mention it.
“You’re welcome to bring as many things in as you like” will let her know you set no arbitrary limit. “Stop in anytime, you don’t need an appointment” tells him it’s easier to deal with you.
Do you pay on demand? Send out convenient checks by mail? Have a Merchandise Valuator on duty whenever the shop is open for convenient consigning/ selling? If you’re a NFP thrift shop, is there always a staff member handy to help a donator unload her/his car?
What seems to be common-sense, or just the way things are, could be exactly what a potential supplier is concerned about.
Your day-to-day procedures can be a selling point. Don’t overlook the marketing possibilities right under your nose!
This is just one of the tips in 101 Daily Tips for a Better Shop, a collection of tips you can use every day to remind you of steps you can take to make your shop better. Get it, and many other helpful publications, at TGtbT mini-Products for the Professional Resaler.
Drowning in incoming merchandise yet? Life-saving tips from Auntie Kate
Posted in Shopkeeping talk, tagged accepting, buy-outright, daily operations on August 11, 2010| 6 Comments »
Drowning in incoming consignments?
If your resale, thrift or consignment shop is not yet flooded with fall incoming, you soon will be.
How will you cope? It’s easy to get frazzled and forget that your intake process must be as client-centric as your selling processes are. If you’re drowning, it’s tempting to grasp onto anything that looks like it’ll keep you afloat without regard to long-term consequences. For example, some shopkeepers wish they could tape a sign on the door NO MORE ’til I get done with what I got!…but fortunately, they realize that turning away suppliers is bad for business in the long, and the short, run.
I can’t add hours to your day (which is probably what you wish for), but there are some (relatively) simple ways to not drown in a sea of incoming.
Here’s how NOT to cope:
Don't let a sea of incoming take a chunk out of your business.
Don’t cope by, if you (more…)
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