Is there any money to be made in opening a thrift store???

Question

I live just out side of atlanta,Ga. And between myself my friends & family. I could acquire a very large and diverse collection of clothing & furniture. For free! much of the clothing is in new condition.Just wondering if anyone has any experiance in this type buissness? And if there is a buck to be made in this type business? Thank you. The Dirtfisherman

Answer 1

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Too Good to be Threw: The Complete Operations Manual for Resale & Consignment Shops by Kate Holmes
* A Common Sense Entrepreneurial Guide: How to Open & Run a Successful Consignment Shop [DOWNLOAD: PDF] by Nancy L. Nolan
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

OK Think about it.

Do you have enough merchandise to last for 30 days, 60 days, 90 days etc?

Are there OTHER thrift stores, Salvation Army Store, Goodwill etc in the area?

Keep in mind that this is a long term proposition. Who will be running this store?

Check with your local Chamber of Commerce and City Hall for licensing requirements.

YOU just might be better off donating your things than open a business up. That way you can write the amount donated off on your taxes.

Answer 3

I don't know, it could be if you could attract a rich clientele to donate, or buy their clothes, that you could turn a profit from. You have to know what items would be sell in today's fashionable climate. If you can find cool stuff from flea markets, garage sales (and you really need to be fashion savvy) there's a potential at making money off of "vintage" products. I've heard of some great ones in New York and we have a good one here in Kansas City.

Basically if you have a good eye for things that you can buy cheap, and think people would like something cute, fashionable, and "vintage" it could work for you. Think of it this way, your an antique dealer in clothing and accessories. Ask some of those people what they do to make money in their business while explaining you want to do this in textiles.

p.s.
in order to find said merchandise, you may have to travel to get the best stuff. Scour the newspapers on garage sales and flea markets in well to do areas.

p.p.s

If a store front is too much trouble, why not ebay? You could potentially make money that way if you have a good digital camera!
Then you don't have to worry about the overhead of maintaining a store/vintage boutique.

Answer 4

most thrift stores have a cause that they are earning money for.. Goodwill is putting money back on to the community, Value Village donates their money to I believe northwest center, Salvation Army... senior centers.. ect.. I dont know of any that are just a thift store for personal profit.. but good luck..

Answer 5

Mostly no. Gross profit margin is low but there was no money in coffee until starbucks changed coffee houses and there was no money in ice cream until its business model was changed. There was a guy who bought a candle making business for 200,000 grand (no margin you know) he turned it into a $50,000,000 in about 5 years.

Answer 6

I hear that opening your own franchise of the "dollar store" can be VERY profitable! its not thrift, but its cheap!

Answer 7

My answer is that there is not. I know several and know the managers of each of them and they all say that it is NOT a money making enterplrise.