Thoughts on Starting a Consignment Store

[aimless]

I have been thinking about looking into opening a consignment store for a long time. I feel like I need to make a decision to do it or not to. I wanted to get some unbiased opinions on this as far as if you think it is low risk/high risk, potential for good profit, stressfull, and also where would be a good location. I live in South Paulding area, but would go anywhere in Paulding area or even into Rockmart. If you know anyone who has a consignment shop I would love to speak with them. This is just a "dream" of mine since my baby (4) was a newborn. I would have new & used clothing, personalized items such as monogramming bags and clothes, handmade bows, and such as that. Thank you for your time, thoughts, opinions, etc.... I need the good and the bad !

[patsapparel]

I have been thinking about looking into opening a consignment store for a long time. I feel like I need to make a decision to do it or not to. I wanted to get some unbiased opinions on this as far as if you think it is low risk/high risk, potential for good profit, stressfull, and also where would be a good location. I live in South Paulding area, but would go anywhere in Paulding area or even into Rockmart. If you know anyone who has a consignment shop I would love to speak with them. This is just a "dream" of mine since my baby (4) was a newborn. I would have new & used clothing, personalized items such as monogramming bags and clothes, handmade bows, and such as that. Thank you for your time, thoughts, opinions, etc.... I need the good and the bad !

 

I just opened a consignment shop in Hiram, Pat's Apparel. I sell consignment formal dresses. I have been open for 6 weeks. I also rent tuxedos and I do alterations. I think that it might have been hard to do just consignment, in other words, it might not pay the rent. So that is why I am doing more than just consignment. It is early to tell how this will work out. The consignment dresses are slow to come in but I am steadily building an inventory. I am optimistic that I will have a very good selection by Fall. If you would like to call me at 770-222-7888 I can tell you more about how I have structured my consignment contracts. There is a consignment shop in Kennesaw called M'Ro just off the square. It is my favorite place to shop for nice career and everyday wear. You might check it out for an example of a consignment shop well done. Pat

[aimless]

I just opened a consignment shop in Hiram, Pat's Apparel. I sell consignment formal dresses. I have been open for 6 weeks. I also rent tuxedos and I do alterations. I think that it might have been hard to do just consignment, in other words, it might not pay the rent. So that is why I am doing more than just consignment. It is early to tell how this will work out. The consignment dresses are slow to come in but I am steadily building an inventory. I am optimistic that I will have a very good selection by Fall. If you would like to call me at 770-222-7888 I can tell you more about how I have structured my consignment contracts. There is a consignment shop in Kennesaw called M'Ro just off the square. It is my favorite place to shop for nice career and everyday wear. You might check it out for an example of a consignment shop well done. Pat

 

 

Thank you, Pat. I probably will be calling you!

[PauldingMom]

I don't know how everyone else feels about this, but it seems to me that Dallas has to many consignment/thrift stores and Hiram has none, except Goodwill. I don't think there are any in South Paulding either. I can't think of any good locations in South Paulding, but there is a space available in the same strip as Kroger, over by Pizza Hut and several places by Publix. Don't know how expensive the rent would be though.

[sexymom]

I know there is Jumping Jax (I think that's the name) Not sure if they are consignment or what, but they sell quality used children clothes and accessories are a great price, and they aren't doing to well. They've had to move their location from Dallas Nebo/61 to a place on 61/Nebo. She also said that they are considering closing shop because they just don't have the business.

 

I honestly don't think it'll do too well in Paulding. Maybe if you were to move to Cobb County it would do better. I wish you the best of luck!

Edited March 29, 2010 by shan06

[ivylove]

I don't know how everyone else feels about this, but it seems to me that Dallas has to many consignment/thrift stores and Hiram has none, except Goodwill. I don't think there are any in South Paulding either. I can't think of any good locations in South Paulding, but there is a space available in the same strip as Kroger, over by Pizza Hut and several places by Publix. Don't know how expensive the rent would be though.

 

I would love to see a good consignment/thrift store in Hiram that offered clothes and/or household items. To me, this would make the store more interesting to shop in and would give you more of a variety. I would think it would need to be located/advertised well. You could also take pics and feature things on PCom or Craigslist, like A Classy Flea, in Marietta does, and would be a way to entice people to come in. I think it would be great if the consignment store offered to consign and/or buy items outright (maybe at a lower price, than if consigned). This way it's less of a risk to you if it takes a while to sell, it allows people to get rid of unneeded items quickly, and would help build up inventory.

I also think this would be an easy alternative for people, instead of having to yardsale or craigslist their better items.

Also, by carrying a variety of items, your store would be different ever time people came in, which I would think would keep them interested and curious and wanting to coming in on a regular basis.

You could also rotate slower moving items, and store them, but keep them listed/described/pictured/priced on a website and notated as stored but available. This way they are still "on the market", but just not taking up valuable floor space. This might be a good bit of work, especially at first, but would allow people to shop from home, at all hours, and I would think would keep a good, steady, flow of people, and a larger inventory.

Of course, the prices/sales would have to be good, so people know that shopping with you they will get a bargain.

Just some of my thoughts on what might work.

[Joejetzu]

Never seen one last for very long. With the economy being crappy and people looking to shop cheaper it might work though. Good luck.