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is a 'resale' shop a viable business opportunity?

Discussion in 'Business, Careers & Education' started by jgold47, Apr 10, 2012.

  1. Thomas

    Thomas Well-Known Member

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    Actually, you can boil it down to 1) can it be profitable? If it's a money pit, it won't matter if you enjoy the work or not.

    BTW: if you take the informal side, good luck. You're limiting yourself to low-dollar goods and now have to churn through them much more rapidly - although sizing is less of an issue. But consider how many shirts you've got to sell at $20 a pop to cover the fixed nut alone.
     
  2. Samuel Smith

    Samuel Smith Well-Known Member

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    They do exist. My soon-to-be wife will not go in thrift stores with me but will moast certainly go into a 'high-end boutique'.

    profitable? maybe, in time.


    I would just think that using my approach would suit you better for the beginnings of your venture. Is your goal to make a main income? if so, try something else. If its to supplement your income with ~500-750$ / month then eBay / B&S / AAAC is the place to be. Also fwiw, I get my family members in other cities to scoop a few stores as well. I give them a simple 10 brand list so they can run in and run out.

     
  3. Thomas

    Thomas Well-Known Member

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    In other words, put your store near SpooPoker's mansion and you should be set.
     
    1 person likes this.
  4. Steve Smith

    Steve Smith Well-Known Member

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    This idea just went from "slim chance of success" to "train wreck".
     
  5. jgold47

    jgold47 Well-Known Member

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    You obviously dont know me. This was a train wreck before it even started :)
     
  6. Samuel Smith

    Samuel Smith Well-Known Member

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    All of this information the OP provided was under the assumption that there was no clothing/consignment/second-hand stores around the vicinity. I just [​IMG] when I saw the OP explain there was a 'HIGH-END FORMAL WEAR' store on the high street already and decided I would no longer read this thread....
    train wreck is being kind. [​IMG]

     
  7. Dewey

    Dewey Well-Known Member

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    Is there a SCORE in your area?

    http://www.score.org/

    My (limited) experience with SCORE (in my area) has been very, very positive. There are people in your community who care a great deal about making the most of these opportunities. In a real way the whole community loses if you screw it up. A lot of older small businessmen understand this and for that reason they donate their time and expertise to plans like yours through SCORE.

    SF is not a great place for getting honest or non-catty or accurate answers to your questions.

    In theory, sure, anything could work. In practice, it is the details that matter. There are many ways to torpedo what could be a successful small business, and many of them will be very specific to where exactly you would like to set up shop.
     
    Last edited: Apr 11, 2012
  8. Steve Smith

    Steve Smith Well-Known Member

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    lol. It's good to see a sense of humor.

    Seriously, I have several issues with your plan:

    1. I don't think it is scalable, even to the extent of your plans. It is easy to go out and thrift 10 items for $3.39 each and sell them on ebay for $15 each. Thrifting an adequate number of items to stock a retail store would be a huge undertaking and may not even be possible in your area.

    2. There is a lot of upfront expense involved in an operation like that; insurance, upfit for the space, deposits, registers/credit card stuff, stocking the store...the list goes on. Most of that is money which you can LOSE. Do this from your home and you can't lose money.

    3. Biggest of all, I don't see it as an opportunity worth pursuing. By that I mean that I don't see adequate financial upside to justify the financial risk and personal obligations you will be taking on. Do you really want to be tied to that location 6 days per week? It can start to feel like a prison.
     
    Last edited: Apr 11, 2012
  9. jgold47

    jgold47 Well-Known Member

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    There are actually a couple. This guy does mens suits and shit, another caters to women (more blue hairs). You can have multiples if your targeting different customers.


    Thanks - that really does sum it up.

    i stopped by a couple of places running around today. I think I greatly underestimated the challenge of finding the inventory. I may try this on the interwebs side with a few things here and there and see how it feels.
     
  10. Teger

    Teger Well-Known Member

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    what you're describing is basically what i like to call 'every vintage clothing store on etsy.' my girlfriend runs an etsy shop like this, and while it's ok as a hobby, i don't think it could really work as a business.

    some issues with your strategy beyond the obvious ones (sunk costs):

    - i get the impression that you'd only be selling men's clothes. there are far fewer men buying clothes online
    - the big problem with buying lots of men's clothes from a thrift store is that: a. the men's selection at thrifts stores is worse than the womens, and b. most of the clothing you find there is obviously dated. there's much less of a 'vintage' movement in men's fashion, so nobody is going to want to buy an ugly blazer from the 70s.
    - most men like to buy clothes from a store that throws in the tailoring.
    - it's hard to take good pictures of clothing. you need a good lighting set up and an expensive camera.
    - paypal/credit card transaction fees will eat you alive.
     
  11. Teger

    Teger Well-Known Member

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    laying out the capital to set up (and run) a brick and mortar store is also insane. your overhead in running a real location would consume 150% of your profits.
     
    Last edited: Apr 11, 2012
  12. bringusingoodale

    bringusingoodale Well-Known Member

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    I'd shop in a place that was "SF approved."

    But as others have noted, the vast majority of men do not care about clothes as the forumites on here, as one should expect since this is a hobbyist forum about clothes and men's accessories.
     
  13. HomerJ

    HomerJ Well-Known Member

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    Don't listen to the naysayers.

    1. open shop
    2.
    3. profit!!!
     
  14. SpooPoker

    SpooPoker Internet Bigtimer and Most Popular Man on Campus

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    Ill be monitoring this thread closely.
     
  15. stevent

    stevent Well-Known Member

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    OP - check out this store
    http://www.inanyc.com/

    They are on eBay as well, I bought a suit from them, was told no stains and there were like 10 small ones on front :uhoh: and their yelp reviews are bad, but given the amount of stores they have, they are clearly making money...
     
  16. GusW

    GusW Well-Known Member

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    Big difference between a consignment shop and thrifting to find your inventory
     
  17. Douglas

    Douglas Well-Known Member

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    This is a terrible idea. Proceed at your own risk.
     
  18. Thomas

    Thomas Well-Known Member

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    no joke, in my inbox is a message that Resale is the new Retail!

    Today Threadflip launched a new fashion marketplace....
     
  19. LA Guy

    LA Guy Opposite Santa Staff Member

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    This.

    There are consignment shops, and there are models like the original Filene's Basement. These are workable, and there are people (myself and others) who might be able to give you some pointers, but really, sticking with menswear would most likely be a disaster.

    The only thrifters I know who have done well doing anything close to what you are thinking about are guys who really, really, know their vintage, and drive around to thrift stores and estate sales all of the time. One guy I know is stellar at this, and actually is the VP for a medium size chain right now. There is a reason that high end vintage costs so much. Someone has to find all that stuff, and gas and even cheap hotels add up.
     
  20. LA Guy

    LA Guy Opposite Santa Staff Member

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    Off topic, but if you are looking for traditional clothes, consignment shops are useless. If you are looking for designer pieces from years, even decades, ago, they can be a goldmine, but you really have to know your stuff to know what are the deals, and what are not. And, to really get the deals, you have to know stuff better than the consignees *and* the consignment store. That's a lot of expertise.

    Also, I would never buy anything from INA unless I was there in person. Fun the browse though. Lots of old Cloak, Versace, Mugler, whatever, shows up there.
     
    Last edited: Apr 17, 2012

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