How To Start A Thrift Store: 7 Steps (with Pictures) - WikiHow
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This article was co-authored by Siena Filippi. Siena Filippi is a thrifting and sustainable style creator based in New York City, NY. Siena creates content on social media around thrifting, thrift flips & DIY, sustainable fashion, and vintage clothing for an audience of over 680k followers. She is also the owner of ViaSiena, a vintage clothing store located in Dumbo, NY and available to shop online. Most recently, she has grown her audience and customer base and created an in-person vintage market series called Day-to-Night Vintage Markets that combine class vintage market shopping with socal nightlife activities. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 20 testimonials and 93% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 314,439 times.
Regardless of economic climate, resale shops, also called thrift stores, can be a popular choice with shoppers. The clientele can encompass everyone 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.
Steps
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1 Decide if you want to start a thrift store that is a for-profit or not-for-profit business.[1] There are benefits and drawbacks to each type of business so you may wish to discuss the options with a certified business planner or attorney before you decide. - Starting a for-profit thrift store business will allow more freedom in your management style and allow for larger profits. It may also mean you are eligible for fewer grants and fewer low-interest loans. Your business may not qualify for tax-exempt status even if you are donating some of the proceeds to charity.
- Starting a not-for-profit thrift store may allow you to apply for free or low-cost rent, advertising and other business necessities but your day-to-day management may be inhibited by additional government regulations.
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2 Prepare and file all required documents. This may include business licenses, insurance policies and tax account status forms.[2] Advertisement -
3 Choose a location.[3] In most cases you will be looking for existing retail space that you can rent, lease or have donated. It should have ample parking, good lighting and a display-style window where you can set up prime items to entice shoppers into the store.[4] -
4 Sketch a basic floor plan and decide what type of merchandise you are going to sell in each area. This will help you narrow down what type of display fixtures you need to purchase. You can buy them at fixtures stores or buy them from businesses that are closing. -
5 Stock inventory to sell. Most thrift stores stock gently-used, previously-owned goods with a lot of variety.[5] - Advertise for donations to stock your store. If possible, schedule a day in each neighborhood where people who wish to donate can place items on the curb for you to pick up.
- Visit bulk distribution centers where used goods can be purchased by the pound instead of per piece.[6]
- Check your local paper for storage unit auctions.
- Visit yard and estate sales toward the end of the sale and offer to purchase the unsold items as a lot.
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6 Hire people to staff your thrift store. If the hiring process seems daunting, consider going through a staffing service. -
7 Advertise your grand opening. For the best turnout on opening day, you want to start advertising heavily 2 to 4 weeks before your grand opening date. Using online sources for marketing materials, you easily and inexpensively run a marketing saturation campaign using direct mail postcards, banners and signs. The week before your grand opening date issue press releases to the local media and take out an advertisement in the local media.[7] Advertisement
Expert Q&A
Search Add New Question- Question Is opening a thrift store worth it?
Madison Boehm Business Owner and Advisor Madison Boehm is a Business Advisor and the Co-Founder of Jaxson Maximus, a men’s salon and custom clothiers based in southern Florida. She specializes in business development, operations, and finance. Additionally, she has experience in the salon, clothing, and retail sectors. Madison holds a BBA in Entrepreneurship and Marketing from The University of Houston.
Madison Boehm Business Owner and Advisor Expert Answer Although this can be a worthwhile business, remember that owning a business is, unfortunately, a full time commitment. If that's where your heart is, it might be worth it. If you're not willing to commit to it, or trust someone to take the business in the direction that you want it to be, I would highly say don't do it. Thanks! We're glad this was helpful. Thank you for your feedback. If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow Yes No Not Helpful 0 Helpful 10 - Question Things to know before opening a business?
Community Answer There's too much to list in a few sentences. You can go to your city hall for licensing and insurance requirements. You may also want to take a few business courses. Thanks! We're glad this was helpful. Thank you for your feedback. If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow Yes No Not Helpful 6 Helpful 42 - Question What's the difference between a non-profit and profit organization?
Community Answer A non-profit generally doesn’t have to make large profits to remain open. Their main goal is to raise money for the organization they are attached to or support charity or a public interest. A for-profit usually has the goal in mind of making a profit and expanding. Thanks! We're glad this was helpful. Thank you for your feedback. If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow Yes No Not Helpful 6 Helpful 56
Video
Tips
- Adding an opening day discount coupon to your marketing postcards is a great way to draw shoppers to your grand opening. Thanks Helpful 1 Not Helpful 0
- Before you start a thrift store make sure that you have enough operating capital to cover the daily expenses for the first 2 years. This will allow your thrift store the opportunity to generate a profit. Thanks Helpful 2 Not Helpful 2
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References
- ↑ https://careertrend.com/start-thrift-store-9635.html
- ↑ https://careertrend.com/start-thrift-store-9635.html
- ↑ https://www.budgetsaresexy.com/how-to-open-thrift-store-with-tips/
- ↑ Siena Filippi. Thrifting and Sustainable Style Creator. Expert Interview
- ↑ https://smallbiztrends.com/2016/07/open-a-second-hand-shop.html
- ↑ Siena Filippi. Thrifting and Sustainable Style Creator. Expert Interview
- ↑ https://www.entrepreneur.com/business-news/business-5-steps-to-a-great-grand-opening/56200
- http://www.entrepreneur.com/startingabusiness/startupbasics/article170776.html
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Reader Success Stories
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Lisa Brown
Jan 8, 2017
"My husband and I just recently open up a thrift store in Mississippi. We love it, and I wanted to read the article to make sure we've done right in our business. This article helped me so much. Thanks."..." more
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Advertisement Cookies make wikiHow better. By continuing to use our site, you agree to our cookie policy. Lisa Brown
Jan 8, 2017
"My husband and I just recently open up a thrift store in Mississippi. We love it, and I wanted to read the article to make sure we've done right in our business. This article helped me so much. Thanks."..." moreSandra Griffin
Jul 4, 2016
"This article had the step-by-step explanation of what I need, which I can start at step one, cross out when I am finished, and so on. Thank you so much. Oh, I almost forgot, I loved the short video."..." moreAnonymous
Feb 23, 2017
"This is a lovely article, I will like to find out if there is a difference between a thrift store and a charity store. We are currently trying to open up a charity store, and need assistance. "..." moreHasinah Greenwood
Apr 18, 2019
"I haven't opened up a thrift store yet, but reading this gave me a little more understanding of what I need to do, as well as encouragement."..." moreBK Sheriff
Sep 18, 2016
"This article has helped me with organizing my thoughts and knowing what to do next. Thanks for taking the time to put it together."..." more Share yours! More success stories Hide success storiesQuizzes & Games
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