How much money can you make owning a thrift store

how much money can you make owning a thrift store

Regardless of economic climate, resale shops, also called thrift stores, can be a popular choice with shoppers. The clientele can encompass thriift from families on limited budgets to collectibles dealers searching for their next great treasure. If you are interested in a fun and potentially profitable way to make a living, you can start a thrift store business by following some basic steps. To create this article, 10 people, some anonymous, worked to edit and improve it over time. Together, they cited 6 references. Log in Facebook Loading Google Loading Civic Loading No account yet? Create an account. Edit this Article.

Make Out Like a Bandit With These Tricks

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UNDER DESKS & TABLES

)}I’m talking about the business that keeps my own family in winter boots, and oatmeal: a thrift store. In a way I’m rather reluctant to give away the deep, dark secrets of how to start a thrift store business. Then again, I welcome the chance to sort out how much money can you make owning a thrift store of the public’s weird beliefs about dealers in used goods. Our introduction to the thrift store business came about through necessity several years ago. Then we bought a quarter horse for our kids to use as a 4-H club project and that mare turned moneu to be — for us, anyhow — the world’s most expensive animal. Less than a week after the papers were signed, she kicked my mate in the face with both hind feet. It was a miracle that he lived through the experience. Once out of the hospital, our breadwinner found that the lumberyard had changed hands and the new owner had brought in his own crew. So there my husband was: no job, no strength to look for another and five mouths to poke vittles. We already had a garage full of the odds and ends I kept pouncing on at sales, fixing up and reselling. My husband admitted later that he thought this to be a ridiculous plan. All the same, he went along with it Well, the bank’s officers bless ’em! And we soon found a building where another thrift store hhrift had formerly operated a boon since many of the old firm’s customers came to us. Then juch got the first load of furniture and The Jungle was in business. Now I’m not going to sit here barefaced and claim that that’s all there was to our fresh start. Not at all! We suffered through days and days of sitting thritt our small stock and praying that somebody would buy just a dollar’s worth. The store was listed as belonging to me, but my husband was able to help as his strength increased. Meanwhile he was drawing unemployment which provided our groceriesand I clerked at an auction one night each week and spent one morning cleaning our church’s rectory.⓬

Salaries and Profits

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Advertiser partners include American Express, Chase, U. Bank, and Barclaycard, among others. With the right approach, thrift store flipping — the practice of purchasing items from a thrift shop with the intent to resell them — can go from a hobby to an income stream. Once you know what to look for at the thrift store, you can better seek out the buys with the most upside. Then, simply do a little maintenance and repair if necessary, clean them up, and resell them. Not only will ShippingEasy automate the entire shipping process with designed workflows, but they also offer you huge discounts.

how much money can you make owning a thrift store

Do More with Your POS

While it looks similar to Instagram , Poshmark allows you to sell clothing just like you would on eBay. Although many of Poshmark’s , sellers use the app as a way to clean out their closets, Marquez had always been interested in running her own business. She began searching thrift stores for gently used items from department store brands and buying them to resell on the app. Initially, she didn’t know which brands and styles would sell on the app, and which wouldn’t, so s he spent time studying what was popular. Then, she’d go out and buy those items. After a year and half, she became a suggested user on the app, meaning that all new users were invited to follow her. Alexandra Marquez quit her corporate marketing job to focus on her Poshmark store full-time. Alexandra Marquez. But after a year, she left to focus on her clothing sales full time. Now, she devotes three or four days of her week to shopping, with the goal of posting several new items every day. Local boutiques in Bentonville, Arkansas, where she lives, often sell their overstock to her at a discount. In addition to making regular visits to thrift stores, she also buys gently used clothing and accessories directly from women in her area.

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When you go to a thrift store, you think the prices you’ll find are rock-bottom cheap for that Gap shirt from a few thhrift ago, a stylish silky top from Ann Taylor, or that great Vince Camuto amke that shows mucb wear. You might even find some vintage ’60s clothes and shoes for a song. Yes, thrift store prices are good—very good—but they can be even better if you know a few tricks of the trade of thrift store shopping.

Check out these strategies to save even more on already cheap stuff. You’ll make out like a bandit on this treasure hunt. Some thrift stores hand out coupons or store credits when you donate merchandise. So gather up all those sweaters, handbags, and shoes that you haven’t worn for a year or more and take them with you as a donation before you start shopping. Combine thrift store prices with coupons for an unbeatable deal. Look for coupons in school coupon books and your newspaper.

Some thrift stores now offer electronic coupons. If you have a cellphone, text the appropriate number, and they’ll respond with a coupon code in real time while you’re shopping.

Senior and student discounts are common. Check with your favorite thrift stores to see if there are any discounts that tyrift could be taking advantage of. You might have to shop on a certain day of the week to get your discount, but if it saves you cash, it’s worth it. Get the lowdown on how sales are handled at the stores around you. Then make the most of. Look for large, unsorted containers of merchandise.

They usually contain the who’s-its and what’s-its that no one could identify or knew how to price. This is where the absolute best deals hide. If you find something that you need in one of these containers, you can bet it will be cheap. Thrift stores get how much money can you make owning a thrift store with donations from December as people rush to donate so they can claim the donations as tax deductions and then in January when they begin to work on their New Year’s resolutions to lose weight and find they have a closet full of clothes that don’t fit or clean out all those closets and storage areas and have loads of stuff to give away.

Shop in January, and you’re also likely to be rewarded with bag sales and big store-wide savings. Think 50 percent off. Frugal Living Bargain Shopping. By Erin Huffstetler. Make a Donation. Shop With Coupons. Take Advantage of Discounts. Work Those Sales. Dig for Deals. Shop at Thrift Outlet Stores.

Shop in January.

MEN’S SUIT POCKETS

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Average Annual Revenue

)}Thrift stores have long been considered recession-proof. The United States is home to more than 25, resale, consignment, thrift and antique stores, according to the Trhift of Resale Professionals. Over the past five years, revenues in the thrift store industry have grown by 1. In the same time frame, the number of such businesses has grown by 0. Besides being a morally responsible mode of xtore —these yuo cut down on waste, and many provide community support and services for the unemployed, homeless and disabled — thrift stores offer the ownihg to find something new and different, especially for the price- and fashion-conscious consumer. Tactics that work for department stores can also how much money can you make owning a thrift store for thrift stores. To create a pleasant shopping experience, display products in an attractive and logical manner. Elizabeth Beasley, a former volunteer with the Junior League of Atlanta, recommends separating designer dresses, pants, blouses and other high-end items to create a boutique wrack that will bring in more money. Adding variety to what you sell is a great way to entice new customers into your store. In addition to clothing and accessories, many buyers seek furniture and household goods. Make yhrift to constantly update the merchandise you carry with new items so established customers will have a reason to return and search for new treasures. If the thrift is tied to a nonprofit organization, Beasley says that staggering donations throughout the year can help keep your merchandise fresh. There is always an occasion to promote your inventory. Throughout the year, you can base your special sales around maks and themes. For example, have an ugly Christmas sweater sale, or a costume sale a month before Halloween.⓬

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