1. What is a tools, hardware, and garden consignment shop?
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.
Consignment shops specializing in tools, hardware and garden equipment take in functional items like tools (hammers, screwdrivers, power tools, pliers, saws, saw horses, measuring tapes, etc.) and garden equipment (shears, pruners, hedge trimmers, weeding trawls, etc.). Many an aspiring gardener or occasional home do-it-yourselfer will enjoy affordable tools they might not otherwise spring for if they had to pay full price.
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 tools, hardware and garden consignment shop?
Urban (very good), semi-urban (very good), suburbs (good), 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 these, this business might be for you):
Have you always been handy and enjoyed fixing things, so that you know a good deal about tools and their uses?
Have you worked in a retail environment before?
Do you know and meet many people who are likely to need tools?
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!*
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