Originally Posted by borbor
Just trying to get a gauge of what people's "acceptable" profit margin is when it comes to smaller items like shirts and ties and the like. Do you aim for say 400-500% or is there a monetary target (say $25-30 bucks per item) before the point where you just don't bother.
What I've noticed in VV lately is the shirts are priced so high (it's not unheard of for a thomas pink shirt to routinely cost more than a blazer) that I usually just say screw it and leave those. I haven't been able to move shirts & ties as well as I do on suits and blazers, so that doesn't help my reluctance either.
The more experienced guys on here when you first started, did you start out super picky and then as business picked up just started expanding the brands that you would buy even at a lesser profit? Or are you not as discriminatory and just grab whatever is on the rack and then deal with it later.
Obviously depends a lot on the item...if I found a NWT vineyard vines tie for $2, and a NWT Tom Ford tie for $2, I would shoot for considerably more on the latter. I'm OK with 4x my cost +/- most of the time if BIN, but that can vary wildly - again - depends on the item. $9.99 auctions, you never know - have been delighted and disappointed.
Value Village here truly sucks - I stop in a few times a year just to make sure it still sucks.
Re: starting out, it was the opposite for me - I was not nearly as discerning then as I am now, and still have a rack of plain/boring PRL shirts to show for it. On the flip side (pun intended), I did expand my brand / styling / construction knowledge quite a bit so I might pick up considerably fewer items but hopefully I've upped my game in some respects.