|Consigning For Profit
Most of us just want to clean out our closets to make room for new clothes (or to give us enough room to look through what we have!). If we get a little money for the old stuff, thatís even better.
But, wait! You can actually turn consigning into an income-producing business!
Letís do the math Ė
Youíve just quadrupled your money! And thatís on an inexpensive item like a blouse or jeans. On a nice dress or coat you could net $10-$20.
But what if everything doesnít sell? Volume is the key. Consign 100 items (your cost $100), sell 30 items at $20 each ($600 x 40% = $240 to you), youíve just made $140 profit and you only sold about 1/3 of your items.
You will want to check with the consignment shop you choose to work with to see if they are interested in doing large volumes with you. At The Working Womanís Shop, we encourage resale shoppers. Itís like having our own buyers out there guaranteeing that we have a steady supply of great clothing! We even pay you 50% instead of 40% if you consistently make $100/month (see Consignment Policies).
The keys to success are:
1. Research. Know what your consignment shop wants/needs Ė types of items, specific brands, quality, etc. We are happy to show you exactly what to look for, so you donít spend money on items that wonít sell.
2. Quality. Buy only the best items Ė expensive labels, cute designs, items that still have their original tags.
3. Discipline. Set a dollar limit that you are willing to risk and stick to it (e.g., $.50 or $1.00 per item). As you learn how your consignment shop prices its items, you might be willing to spend $5.00 on a fantastic evening gown that the shop can sell for $50.00 ($20 for you!).
4. Preparation. Be willing to wash/iron the items, sew on a button, polish shoes, etc., if needed. Your items are more likely to be accepted by the shop, and will sell for more money, if they look their best. Set aside space where you can store items on hangers until the shop can take them.
5. Volume. Consign a lot of items!
|Purchase the best items you can find at garage/estate sales/thrift shops, etc.
|Consignment shop sells for you at
|You get 40%