These “malls” of consignment and antiques booths can be a terrific way to get your consignment business off the ground and out of your garage. Here’s how they work.
You rent a booth (or even just a shelf) in a large store that has lots of floor space and one to fifty-one other people selling antiques and/or consignment and/or used goods. You pay up to $300 a month or more for a large space, and possibly as little as $75 for a shelf or a bookcase.
In addition to the payment, your responsibilities include tagging all your merchandise according to store policies. You many also have to do some “shop time” working at the cash register of the main store. You will also have to update or rotate your inventory at least every two weeks, and preferably every week. Many Co-ops also require you to have seasonal displays.
While its great to not have to be in the store all the time, you will lose a few sales simply because you’re not there to make your great sales pitch. Some people can compensate for this by getting really creative with their inventory displays, but even clever displays can’t beat having a real person standing by to explain what things are. Finally, you’ll have to be available by phone at a moment’s notice in case someone makes an offer on your inventory. If you miss the call, you’ll miss the sale.
The good side about group shops is that you don’t have to be at the shop all the time. So if you’re a mom, or have an aging parent, or have a part time job (or even a full-time job), this may be the only way you can actually have a “store”. The cost savings are also a major benefit — your rent for having a small (very small… maybe 10 feet square even for a “large” space) is a heck of a lot less than what it would be if you had your own store. You also will not have to handle sales tax and the myriad other issues that a store owner would face, and that alone can be worth 20 hours a month of free time.
There are some ways to size up co-ops, and security is typically the first priority. Because you won’t be there, you need to trust these people, and their security systems, enough. Good signs include the store having security cameras placed thoroughout the store, and not allowing customers to bring purses or bags into the store while they’re shopping. They have to either leave their bags in their cars, or put them in a locked locker inside the store. Another good security tip is that the store managers go through other sellers’ boxes when they are taking inventory out of the store (so another seller can’t walk off with your stuff).
If you can get into a good place, these group shops can be really terrific. If they are located properly, you’ll have an excellent location, with good foot traffic, and then you’ll get even more foot traffic because customers are attracted to the “mall” factor. Just be aware about security, and get really good at making eye-catching displays.
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