Regardless of economic conditions, antique shops, or second hand shops, are never empty of visitors. The shop's clientele ranges from people on a tight budget to collectors looking for unique items. If you are interested in making money in a fun way, but still profitable, you can start a thrift store business by following these basic steps.
Step
Step 1. Decide whether you want to open a commercial or non-profit thrift store
There are advantages and disadvantages of each type of business. So you may need to consult a professional business planner or attorney before making a decision.
- Opening a commercial thrift store gives you the freedom to manage your business for big profits. However, this also makes you only entitled to a small amount of capital loans and a few low-interest loans. Your business will also be taxed, even if some of the profits are donated.
- Opening a nonprofit thrift store allows you to ask for low rents. However, marketing activities and other business needs apart from daily operational activities are strictly regulated by government regulations.
Step 2. Prepare all the necessary documents
This is usually in the form of a business license, proof of insurance, and a taxpayer certificate.
Step 3. Choose a location
Usually, you have to find a business location that can be rented or rented out. You can also use the donated space. The location chosen must have sufficient parking space, good lighting, and large window-shaped windows to place selected items so that buyers are attracted to enter the store.
Step 4. Sketch the ground floor of the shop, then decide what items to sell in each area
This will help you decide what kind of shelf to buy. You can buy new shelves to sell in stores or buy used ones from business locations that have gone bankrupt.
Step 5. Prepare inventory of goods to be sold
Most thrift stores provide a wide variety of used items that are still good and usable.
- Advertise donations to maintain inventory. If you can, schedule a walk around each day so people who are willing to donate can give you their stuff.
- Visit wholesale centers to buy items in bulk, not individually.
- Read the local paper for warehouse auction information.
- Visit people who sell used goods, then offer to buy items that have not been sold in packages.
Step 6. Hire employees for your store
If you don't want to be bothered, you can use an employee search service.
Step 7. Advertise for store openings
To make the opening day of the store busier, you should advertise heavily about 2 to 4 weeks before the event. Use online media to advertise your store easily and cheaply. You can advertise via email, banners and posters. One week before opening, publish press releases to local media and place advertisements in those media.
Tips
- Adding a special store opening day discount to the advertising emails you send is a powerful way to attract visitors.
- Before opening a thrift store, make sure you have enough capital to cover the store's daily operating costs for 2 years. This will provide an opportunity for the store to make a profit.
