WHICH SHOP SHOULD I CHOOSE TO BE MY PARTNER IN CONSIGNING?
Should you choose a shop that carries everything or a specialty shop? Is it
better to consign or sell outright? When is the wisest course of action to
donate? It all depends on what you want, in addition to cleaning out
your closets and cupboards.
ARE
YOU WILLING TO SHARE IN THE RISKS AND REWARDS OF CONSIGNING?
Since a consignment shop doesn't make money until you do,
participating in the process by placing your items on consignment is, in effect,
profit-sharing. You do your best to offer stylish, clean, appealing merchandise,
and the shop does its best to showcase them in a proper manner, draw potential
buyers to the shop to buy, and operate in a professional manner so your goods
return the maximum reasonable price to you and to the business.
Now, the key in pricing is reasonable. No professional
shopkeeper, and no reasonable consignor, will insist that something in a
consignment shop be priced too high. The consignor risks having
her items remain unsold, and the shopkeeper risks not making the rent! So when
you're looking for a shop to best represent you, look for one whose prices and
selling policies will draw buying customers.
WOULD
YOU RATHER JUST DO IT AND BE DONE?
If you prefer just passing on your items and not
worrying about whether they will be sold before you get any money, you might
enjoy a shop which buys things outright from the general public. When the shop
takes all the risk of merchandise selling, though, it must buy for a price
reasonable enough to allow for profits. Therefore, a buy-outright shop will give
you instant cash...but it may (or may not!) be less than the potential income if
you waited and shared the risk as you do when consigning.
Selling, rather than consigning, might be a good choice if
you are moving, or if you simply don't wish to wait for your cash. Some shops
will offer both options, so be sure to ask.
WOULD
YOU PREFER YOUR ITEMS BE SOLD TO HELP OUT A CHARITY?
If it's important to you not only to clear out your
closets, but to make sure your items help others in many ways, think about
donating your gently-used good items to charity. Charitable shops, run by
non-profit associations, can do double good: they help recycle and they raise
money for their mission. If the shop is run by a true charity, you can receive a
donation slip that you might be able to use to reduce your income taxes.
Another, and often more valuable, way to help a local
charity is to ask them if they maintain an account in the charity's name in a
consignment shop. This is the perfect blend of expertise: the charity can get on
with doing what it does best in fulfilling its mission, while allowing the
consignment shop to use the retailing and marketing talents it has to gain
maximum income for the charity. The sharpest consignment shops will have available
a list of charities who welcome your consigning to their accounts.
Your
Must-Know Guide to Resale: How to Choose the Best Shop for you
Coming
soon to Kate's Journal:
What's
better: a full-line shop or a specialty shop?
Choosing
a shop with policies you are comfortable with
Do you understand where the money in a charitable shop ends up?
