Forums: Discussions for entrepreneurs and small business.

I have a pretty good idea about a new business I would like to get up and running. A resale shop of just about everything anyone would need,aside from a literal house or car. I have accumulated a good bit of stuff and just need to get some more to make myself feel like I won`t run out faster than I can restock. I have pitched my idea to a lot of people and have gotten all positive feedback so I am pretty psyched. I am not opening a business for the intention of becoming a millionare or even making a lot of money. I just want to make enough overall to keep myself out of "store owner debt", and keep on being able to get things for the store. I am not in it for me, I am in it to help those who are being severely affected by this recession of sorts. I have a pretty good feeling, as I said before, about this idea, and I have come up with a pretty detailed and thought out plan of action. If anyone has any ideas, or comments, just send them my way, but if you are just going to criticize my idea or be negative please keep your comments to yourself. And I wish all other entrepreneurs good luck with your businesses!

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- i`m not in it for the money, i`m in it for the smiles -

I would get on the Web and do as much research work as possible before heading into this.  As a former retailer, I know you generally make money for everybody else before you can pay yourself dime one!

Have you considered all the "store owner debt"? This includes  your landlord, insurance company, utility companies, lawyer, accountant, Uncle Sam (taxes), local sales tax body (if any), employees, etc.  You also pay for advertising and marketing.

Set up a business plan as well as an projected expense budget.  Ask yourself (and others) can your area support such a store?  Are there any competitors?  Is a rental operation for you or can you sell the goods on Ebay?

Hope this helps.  (I`m not in it for the money, either!)



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- i`m not in it for the money, i`m in it for the smiles -

:-) I`m a bit leery of "pretty good feelings" and "pretty good ideas."

You`re going to be in direct competition with Goodwill, Salvation Army, and any or all charity-related resale shops. It`s going to take some serious work, particularly in maintaining an inventory.

Additionally, fewer people are throwing away things. They`re looking to make their own money, so they`re selling it online. It`s getting harder to find anything in the several resale shops around here, and this is a pretty populated area.

Then there are possible problems coming from this new lead testing fiasco passed by Congress (a.k.a., Those Morons). If it comes under enforcement, most resale shops likely will be forced out of business.

There`s a lot of major work involved in a resale shop. You might be better off building an online store, maybe with Bonanzle or something like that. Try it out, see how you do, and see if you actually like the whole business.