One person’s trash is another person’s treasure and that’s what makes a secondhand store a potentially lucrative business.
If you love making deals and working with people, opening your own second hand store might be an interesting opportunity for you.
Cut your learning curve: Get this second-hand store guide.
You might open a variety second hand store or decide to specialize in a certain type of product like: antiques, baby and children’s items, clothing, brand name clothing, vintage clothing, household items or musical instruments. And that’s just a few of the possiblities.
There are a couple of ways you can get items to sell – either by consigment or straight resell. If you choose consignment, you agree to sell another person’s items and once they sell, you give them a percentage of the profits. If you resell, you simply purchase used items (often in bulk) and then sell them for any type of profit you wish. Although resell is more risky, it often yields the highest profit since you don’t have to provide a percentage of profits.
Important things to consider:
- What type of product you’ll specialize in.
- Location of your store and competition analysis
- This step-by-step guide here covers plenty more.
Home Based? Traditionally speaking, a second hand store is run in a brick and mortar store…but with the opportunities provide by the Internet, you can sell items from your own website, eBay and other online sites from the comfort of your home
