The market for starting a second hand clothing business is always a strong one. It doesn’t take a lot of work to set up, and you could be making some decent money pretty quickly. There are a few areas you need to focus on and these are as follows:
Obviously, the first thing you will need to do is to find an appropriate location for you to open your second hand business. Now this could be an actual storefront in some sort of shopping centre (most expensive), a flea market (lots of competition, but much cheaper) or an online storefront (very cheap, potentially harder to attain customers initially). Once you have decided on how and where you are going to present your store to your customers, you can move on.
Who are you trying to sell clothes to? You need to know this before you can buy used clothing in bulk, because you need to know what type you think you can sell best. For example, if your target market is plus size male clothing, and your entire store is catered to that demographic, nobody will likely think to buy children’s clothing from your store. A lot of these stores don’t necessarily specialise though.
How will you get your product?
To start a used clothes store, you will obviously need to get your hands on some used clothes. There are a few ways to go about this, with the correct answer being to utilise as many sources as possible, at least for starters. You can buy used clothes via a consignment store, from friends and family, from estate sales as well as various online entities such as eBay or form a second hand clothes wholesaler. There are no wrong answers, just different profit margins.
Work out the legal stuff
Talk to someone with legal knowhow (officials, etc) to sort out all of the permits and licenses you may need to open your store. This is also a good time to talk to some sort of insurance agency as well to determine what kind of cover you will be seeking.
Dress your store
On top of the actual clothes, you will need racks, stands, mannequins and hangars to show and store your product. You also need to make sure you have a register for taking money as well as shopping bags. Once you have all of this, you will need to dress your store, to make it match the vision that you first had when wanting to open a store. If you are opening an online store, most of this is unnecessary.
Once everything is ready to go, you need to get the word out there about your business. Word of mouth is great, but flyers and ads in newspapers and the like work great for start up businesses. Online advertising is also a great way to get prospective buyers, especially if you are selling your product online. You can always set up a website or a blog where you will post any updates and news regarding your products or services.
That’s it! You have done everything you need to open a used clothes business and start making some serious cash. It’s not as difficult as you might think it is. Work hard, be smart and think positive! For more information please read how to set up a profitable store article.