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Starting Your Consignment Shop Business Plan

When making a consignment shop business plan it is important to seek out as much information as possible. Research ought to be the first task on your list. Even a web-based search can provide you with info on the consignment market and its profitability in your town. Make sure to ask yourself: what is the most important thing to be considering? Understanding what info you are looking for narrows your search. Visit Business.gov - Business Data and Statistics for free of charge data on customers, industries, and other important financial aspects of starting a business.

Here are a few steps you will want to be sure to take when developing your consignment shop business plan:

  • Select a Location
  • Locate Inventory
  • Draft a Consignment Agreement Template
  • Register Your Company

You can begin to collect inventory by asking friends and family for items you can sell. Joining local and national consignment organizations such as the National Association of Resale and Thrift Shops may also hook you up with potential consignors.

Once you research, start writing a strategic business plan. Your strategic business plan includes your business’ mission statement, goals, a procedures plan and forecasted financials. If you opt to open a store, you have to look for a physical location. A web-based consignment shop like eBay is yet another option. If you are looking at beginning a web-based consignment shop, stick to the steps regarding how to start an internet business on Business.gov.

After Your Consignment Shop Business Plan is Complete

No one offers better software for consignment stores than Resaleworld. Liberty4 Consignment is one of the most popular software options for companies of any size, with thousands of consignment stores around the country using it. Not sure if Liberty4 is right for you? Try our totally free, 90-day demo and see for yourself. If you have any questions or would like to speak to our sales department please give us a call at 800-785-4800.