1. What is a kids clothing and toy consignment store?
Consignment shops take gently used goods from some customers and sell them to others. The revenues from the sale are split between the store and the customer who originally owned the product. In this way, consignment shops give another life to products that might otherwise go to a landfill. One of the very attractive aspects of running a consignment store is that your entire inventory costs you nothing. You do not pay the owner of the article until it has sold…in other words, until you have money in your hand for exactly that item. You are simply providing the marketplace for buyers and sellers of gently used items.
Consignment, resale and thrift shops number in the 25,000 range in the U.S. alone. The combined industry value is roughly $1.5 Billion, and the industry represents a real opportunity for shoestring startup entrepreneurs who have a passion around a particular hobby or lifestyle such as fashion, games, sports, etc.
In the case of children’s goods, kids tend to outgrow their items quickly, and with grandparents and friends continuing to shower parents with toys and clothes, most parents will simply dump piles upon piles of good quality, gently used clothing and toys at your doorstep. And the next parents will be just as happy to have those items and save themselves piles of money on items their children will…quickly outgrow.
2. What required knowledge or skills are necessary?
There are no formal educational or training requirements for this job.
3. How much money is required to start?
$-$$ (on a scale of $ to $$$$$)
4. What is the income potential?
$$-$$$ (on a scale of $ to $$$$$)
5. What is the best location for a kids clothing and toys consignment store?
Urban (fair), semi-urban (very good), suburbs (best), rural (good).
6. Three best questions to ask yourself to find out if this business is right for you (if you can answer yes to all three, this business might be for you):
Do you live in a place where there are a lot of children (i.e., suburban Utah might be a better place to start this business than New York City)?
Do you have a good eye for kids toys and clothing that would segregate the junk from the gem?
Do you and your friends/family have a stockpile of kids clothing and toys that can serve as your initial inventory for the grand opening?
Interested in starting one in your community? Where do you begin? What permits do you need? Who is your target customer? How do you find them? What is the best use of your limited advertising dollars? What’s the best way to attract a great employee or volunteer? What does an average day look like? What strategic tips do veteran eco-entrepreneurs suggest for startups like you?
There’s a lot to think about. Rest easy. Our mission is to help you succeed, so drop us a line (Info@GreenBusinessVillage.com). We’ll get you a business planning document to get you on your way for ONLY $199! We also guarantee our work, so if you are not satisfied, you get your money back!*
Take a look at a sample table of contents and a few sample excerpts from similar plans here. In essence, we’ll provide you the What, When, Where, and How…you provide the Who!
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