Resale Shop

hotxpinkhotxpink Posts: 1subscriber
edited June 2009 in Selecting a Business
I have a pretty good idea about a new business I would like to get up and running. A resale shop of just about everything anyone would need,aside from a literal house or car. I have accumulated a good bit of stuff and just need to get some more to make myself feel like I won`t run out faster than I can restock. I have pitched my idea to a lot of people and have gotten all positive feedback so I am pretty psyched. I am not opening a business for the intention of becoming a millionare or even making a lot of money. I just want to make enough overall to keep myself out of "store owner debt", and keep on being able to get things for the store. I am not in it for me, I am in it to help those who are being severely affected by this recession of sorts. I have a pretty good feeling, as I said before, about this idea, and I have come up with a pretty detailed and thought out plan of action. If anyone has any ideas, or comments, just send them my way, but if you are just going to criticize my idea or be negative please keep your comments to yourself. And I wish all other entrepreneurs good luck with your businesses!

Comments

  • asEZasABnCasEZasABnC Posts: 1subscriber
    I would get on the Web and do as much research work as possible before heading into this.  As a former retailer, I know you generally make money for everybody else before you can pay yourself dime one!
    Have you considered all the "store owner debt"? This includes  your landlord, insurance company, utility companies, lawyer, accountant, Uncle Sam (taxes), local sales tax body (if any), employees, etc.  You also pay for advertising and marketing.
    Set up a business plan as well as an projected expense budget.  Ask yourself (and others) can your area support such a store?  Are there any competitors?  Is a rental operation for you or can you sell the goods on Ebay?
    Hope this helps.  (I`m not in it for the money, either!)
  • hotxpinkhotxpink Posts: 1subscriber
    Sadly, I actually have thought of all of those things. I know my area (and many surrounding it ) could really use a store like this as for some reason the only resale shops in our area are actual consignment shops who seem to want a fortune for all things. As for the landlord part and such I would be paying myself as I will be using my garage for the store. No official around here seems to have a problem with this idea, i think they know that they will still be getting the regular taxes on it and such. Employees and such I got lucky here- many of the employees I will be having are work age family members who want to help out. The store owner debt part my husband and I have talked about frequently. We have come up with what we think is a "fool proof" plan. It goes something along the lines of:
    1. having enough "extra store cash" to pay all regular utilities, taxes & the such
    2. having enough to cover "bad times"
    3.having accumulated enough goods to furnish 2 entire houses and clothe 10 people.
    - all of this we want to have down PAT before we even open the doors up. 
    I know when you sit there read this and think about it, it seems like a heck of a lot to do before opening shop, like I am actually losing out before I even got started, but in all actuality not having to pay for rent, or workers, and having a lot of the necessities already, has seemed to help in this factor. When I sit down and write it all down, with what I have been "gifted" and what I wont be spending out every month has made up for all of the things I, myself, want to have on hand. So im not breaking my bank before opening shop. thank goodness!
     
    Funny I got your post today, because just before I got on here, I was writing up my business and prjected expense plans. As for ebay, i am not sure about that one. Sometimes I think it would be just the same-expense wise- as opening up my own store, as I have been told *sorry if is not true please let me know if i am wrong* that ebay has a high price for stores, and not only want you to pay them to keep your store open, but they want money out of all items you sell also. Like i said i may be wrong, and would like to know if i am. But I would have no problem trying both routes sooner or later. For now i think i will stick to one, and hopefully sooner,rather than never, be able to head online and run a store on there to help people out.
     
    - I am glad to know im not the only one that isnt in it for the money! Nice to know there are still kind, good hearted people out there that just want to help others out. Hopefully this trend will catch on, and in times of need they will also help out.
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