Forums: Discussions for entrepreneurs and small business.

hi im thinking about opening a bussiness something to do with kids like a consignment shop for kids cloths and i wont to know if anyone knows if this is a successfull business...im knew to this and i needed to talk to someone that may have some suggestions,or ideas.

I don`t have enough information to make even a guess at the possibility of success. There are several examples of successful consignment retail shops. In your case, because of a low price per item - you may have a challenge keeping track. In the category of used clothes, you would be "competing" with Goodwill and other donation stores. I would suggest doing some basic financial projections to see how they look.

-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

We have one around the corner from us ... I use it all the time!

They get their items by buying them from people at half the price they will sell them for. For example, most of their pants for toddlers are $3-4, so they pay $1.50-2 for them. They make appointments to buy back clothing and are often booked several months in advance.

Some of the challenges are knowing what will sell, and having additional storage to swipe out seasonal items.

Let me know if you`d like additional information. I always wanted to build one of these online but could never find someone to run it!

Yep, me too Nikole! 

Regan123, since you are new to the retail game and you already know the niche you`re after, would it be better for you maybe look into an already successful franchise that fills that niche?  Something like www.ouac.com might be worth looking into.  That`s where I shop.  Just a thought.

-------------------------

Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms
                                                                                                    

I really think that success depends a lot on location. I have seen a lot of these shops come and go in our area. But, on the other hand, two shops have remained for many years. So my advice would be to do intensive market research to find the best spot for something like that.

Just some laymans advice from someone who knows nothing about that kind of business.

J