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Consignment Shop Business Plan Template

Written by Dave Lavinsky

start a consignment shop

Consignment Shop Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their consignment shop companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a consignment shop business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your consignment shop as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a consignment shop or grow your existing consignment shop, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your consignment shop to improve your chances of success. Your consignment shop business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Consignment Shop Businesses

With regards to funding, the main sources of funding for a consignment shop are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for consignment shops.

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How to write a business plan for a consignment shop business.

If you want to start a consignment shop or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your consignment shop business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of consignment shop you are running and the status. For example, are you a startup, do you have a consignment shop that you would like to grow, or are you operating a chain of consignment shops?

Next, provide an overview of each of the subsequent sections of your plan.

  • Give a brief overv iew of the consignment shop industry.
  • Discuss the type of consignment shop you are operating.
  • Detail your direct competitors. Give an overview of your target customers.
  • Provide a snapshot of your marketing strategy. Identify the key members of your team.
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of consignment shop you are operating.

For example, you m ight specialize in one of the following types of consignment shops:

  • Clothing : this type of consignment store primarily focuses on new or used clothing but some also sell jewelry, shoes, or accessories. General clothing consignment stores stock clothing for women, men, and children and accept both used and new pieces. Niche or boutique stores focus on a particular type of clothing.
  • Books: this type of consignment store buys and sells a variety of books. The inventory is hardback and paperback books from any genre. Some stores also carry specialty books, such as cookbooks or textbooks and also offer audio books, writing journals, and stationery supplies.
  • Music and Movies: this type of consignment store focuses on films, used and new copies of DVDs, and cassette tapes. They will also focus on music, selling used and new CDs, and records. Hybrid entertainment consignment stores sell both music and movies.
  • Furniture: this type of consignment shop carries a wide array of general furniture pieces, or focuses on a niche within the furniture industry. General furniture consignment stores carry used pieces, factory rejects, or unsold items from other furniture stores.

In addition to explaining the type of consignment shop you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of customers served, the number of sales with positive reviews, reaching X number of pieces sold, etc.
  • Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the consignment shop industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the consignment shop industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your consignment shop business plan:

  • How big is the consignment shop industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your consignment shop? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your consignment shop business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals such as young adults, college students, and families.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of consignment shop you operate. Clearly, families would respond to different marketing promotions than young adults, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are othe r consignment shops.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes department stores, big box retailers, and garage/yard sales. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of consignment shop are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide better hours and is your store more visible?
  • Will you offer products or services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a consignment shop business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type o f consignment shop company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide an online presence, buyback programs, or purchase items not generally sold at your store?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of yo ur plan, yo u are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your consignment shop. Document where your shop is situated and mention how the site will impact your success. For example, is your consignment shop located in a busy retail district, a business district, a standalone location, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your consignment shop marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in local papers, radio stations and/or magazines
  • Reach out to websites
  • Distribute flyers
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your consignment shop business, including taking daily inventory, customer interaction, purchasing used items and/or placing newly acquired items for sale, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your consignment shop to a new city.  

Management Team

To demonstrate your consignment shop’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing consignment shops. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a consignment shop or successfully running a small retail business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance s heet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you buy and sell 5 items per day, and/or offer in-store coupons ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your consignment shop, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a consignment shop:

  • Cost of shop equipment and supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your shop location lease or a list of products you plan to buy and sell.  

Writing a business plan for your consignment shop is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the consignment shop industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful consignment shop.  

Consignment Shop Business Plan Template FAQs

What is the easiest way to complete my consignment shop business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your consignment shop business plan.

How Do You Start a Consignment Shop Business?

Starting a consignment shop business is easy with these 14 steps:

  • Choose the Name for Your Consignment Shop Business
  • Create Your Consignment Shop Business Plan
  • Choose the Legal Structure for Your Consignment Shop Business
  • Secure Startup Funding for Your Consignment Shop Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Consignment Shop Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Consignment Shop Business
  • Buy or Lease the Right Consignment Shop Business Equipment
  • Develop Your Consignment Shop Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Consignment Shop Business
  • Open for Business

Learn more about how to start your own consignment shop business .

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OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan professional services can help you create a winning business.

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Consignment Store Business Plan Template

Written by Dave Lavinsky

Consignment Store Business Plan

You’ve come to the right place to create your Consignment Store business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Consignment Store businesses.

Below is a template to help you create each section of your Consignment Store business plan.

Executive Summary

Business overview.

Casual Consignment is a startup consignment company located in Houston, Texas. The company is founded by Terri Cooper who has experience in both retail clothing sales and consignment sales Now, with the expertise of knowledge and business acumen, Terri has determined she can confidently start and effectively grow a successful consignment company. Terri believes her experience of strategic growth, marketing skills, financial capabilities, and wide and deep knowledge of consignment and retail sales practices will provide everything needed for long-term growth and profitability.

Casual Consignment will provide a comprehensive array of women’s clothing for a wide variety of clients. Casual Consignment will be the popular clothing store for all ages, providing services and products to each client while supporting the strategic goals of the company. Casual Consignment will be the ultimate choice in Houston for clients to ensure that every need of the customer is fully and completely met.

Product Offering

The following are the products and services that Casual Consignment will provide:

  • Curated clothing for resale of excellent quality.
  • Clothing that has been cleaned and ensured to be of high quality
  • A diverse range of clothing, including outerwear, sportswear, women’s casual, young teen, and children’s garments
  • Fair and transparent pricing, with original tags secured, if possible and markdowns clearly identified
  • Customer values in handbags, jewelry and accessories
  • Day to day excellent customer service
  • Private rooms to try on clothing, if desired

Customer Focus

Casual Consignment will target the adult women of all ages, teens, and children within the greater Houston region. The consignment store will also target retailers who are seeking to refresh inventories or add to offerings in their establishments.

Management Team

Casual Consignment is owned and operated by Terri Cooper. She recruited a former administrative assistant, Cary Brown, to be her store manager and help oversee the store and take on operational duties. She also recruited Manny Jaurez to be the general maintenance man and assistant in stocking and inventory.

Terri Cooper graduated from Houston Lyons High School in 2007 and began to pursue her concept to open a consignment store. She studied consignment sales at Pine Valley Community College while obtaining her associate of arts degree in business. She also worked for ten years within the consignment retail industry, where she became very well known and respected for finding the most appropriate and suitable clothing for a wide variety of women who needed business clothing or clothing for special occasions. Customers often wait to be assisted by Terri for this reason.

Cary Brown worked alongside Terri Cooper for five years after graduating from Houston Lyons High School. She held the role of retail assistant in an administrative position and also helped customers with questions and suggestions for wardrobe items. She will hold the role of store manager in the new store.

Manny Juarez, the former general maintenance man at the consignment store, will now be the manager and assistant in stocking of consignment items and inventory.

Success Factors

Casual Consignment will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team at Casual Consignment
  • Comprehensive and curated selection of clothing for all occasions, including formal and special occasions. Accessories, handbags and jewelry are also included.
  • Women’s clothing, young adult fashions, teen clothing, and children’s clothing are all included in inventory.
  • Inventory changes regularly on a one-month rotation to refresh customer choices and clothing availability.
  • Rigorous cleaning and clothing preparation takes place prior to inventory placement
  • Casual Consignment offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Casual Consignment is seeking $200,000 in debt financing to launch its Casual Consignment store. The funding will be dedicated toward securing the store space and purchasing store equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

  • Store space build-out: $20,000
  • Store equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for Casual Consignment.

Casual Consignment Pro Forma Projections

Company Overview

Who is casual consignment.

Casual Consignment is a newly established, full-service clothing consignment store in Houston, Texas. Casual Consignment will be the most stylish, on-trend and affordable choice for customers in Houston and the surrounding communities. Casual Consignment will provide a comprehensive selection of clothing for any customer to view and select for purchase. Their full-service approach includes a comprehensive array of curated clothing styles in excellent condition, reasonable pricing and convenient rooms for trying on clothing.

  Casual Consignment will be the favorite “go to” clothing store for all customers and will offer the best curated selection of clothing under the guidance of Terri Coopear. The team of professionals are highly qualified and experienced in Casual Consignment and are well-trained in assisting customers in every aspect of the buying process. Casual Consignment removes all headaches and issues of clothing shopping and ensures all expectations are well met while delivering the best customer service.

Casual Consignment History

Casual Consignment is owned and operated by Terri Cooper. Ms.Cooper graduated from Houston Lyons High School in 2007 and began to pursue her concept to open a consignment store. She studied consignment sales at Pine Valley Community College while obtaining her associate of arts degree in business. She also worked for ten years within the consignment retail industry, where she became very well known and respected for finding the most appropriate and suitable clothing for a wide variety of women who needed business clothing or clothing for special occasions. Customers often wait to be assisted by Terri for this reason.

Since incorporation, Casual Consignment has achieved the following milestones:

  • Registered Casual Consignment, LLC to transact business in the state of Texas.
  • Has a contract in place for a 10,000 square foot office at one of the largest retail buildings
  • Reached out to numerous contacts to include Casual Consignment while shopping.
  • Began recruiting a staff of three and three office personnel to work at Casual Consignment

Desert Sun Consignment Storeing Company Services

The following will be the services Casual Consignment will provide:

Industry Analysis

The clothing consignment industry is expected to grow over the next five years to over $70 billion. The growth will be driven by the desire by consumers to conserve clothing and wear clothing that has been sustained as a practice of reasonable use of the world’s environment. The shift in moving toward resale clothing items over new items will continue to grow as technology enables the advancement of cleaning, repairing and redesigning used clothing to produce wearable clothing that has been refashioned. In addition, software technology will move many of the routine processes to digital systems, relieving staff of the more time-consuming tasks in the retail store.

Costs will likely be reduced as technology becomes known and is used more and more freely. Costs will also be reduced by the recycling of clothing and accessories, to produce an overall savings or the purchase of new items. Costs will be reduced as more clothing stores adopt the recycle and reuse policies and fewer garments are thrown into landfills.

Customer Analysis

Demographic profile of target market.

Casual Consignment will target adult women in Houston, Texas of all ages, as well as teens, and children within the greater region. The consignment store will also target retailers who are seeking to refresh inventories or add to offerings in their establishments.

Customer Segmentation

Casual Consignment will primarily target the following customer profiles:

  • Adult women of all ages
  • Young adult women and teens
  • Children of all age groups
  • Clothing retailers looking to refresh or build inventory

Competitive Analysis

Direct and indirect competitors.

Casual Consignment will face competition from other companies with similar business profiles. A description of each competitor company is below.

Clothing On Trend

Established by Manny Buonao in 2001, Clothing On Trend is a clothing store focused on selling to young adult, teen, and pre-teen categories. The clothing sold is imported from Brazil and the pricing is comparable to consignment store pricing. While attractive and casually fun to wear, Clothing On Trend items are made of materials that are not long-lasting and many items much be dry cleaned with each use.

Manny Buonao worked in a retail clothing shop for twenty years and determined after that time to increase his inventory and build a company focused on the young women demographic. This has been profitable; however, the quality of the clothing remains and issue, as many items are returned for full value.

Everyday Consignment Shop

Everyday Consignment Shop was established in 1998 by Nancy and Tommy Gordon. The store inventory is made up of household items, decor, small furnishings, kitchen assortments, and reconditioned collectibles. Nancy and Tommy Gordon owned a retail store in Houston for over ten years before starting Everyday Consignment, where the inventory was directed to men’s clothing and children’s clothing, along with camping gear and outdoor sporting equipment.

After closing the Everyday Consignment shop, the Gordons opened the Everyday Consignment Shop, offering general household items and special holiday-themed retail items during major holidays. Some items are new and sold as overstocks; however, the bulk of the inventory are items that were preowned and lightly used. All inventory is sorted and inspected for usability and any breakage or signs of wear and tear before being placed into inventory.

24 Hour Stop n’ Shop

Although the 24 Hour Stop n’ Shop is primarily attached to a gas station in West Houston, the convenience store has expanded to include a wide variety of consignment items for sale and has proven to be very popular with customers who arrive to purchase gas and stay to peruse the racks of consignment items. Included in the store are household items, decor items, children’s toys, gardening and outdoor items, and kitchen utensils and linens. Some items are sold new as overstocks, while 95% of the items offered are lightly used. Mary and Harry Ragan own the 24 Hour Stop n’ Shop and have used the store as a means to offload many of their family collectibles and items no longer needed from their former ranch. The Ragans have build a sizable customer base and plan to expand the business to include prepared food items, including snacks and packaged meals, to complement the consignment shop and the convenience store items already in stock.

Competitive Advantage

Casual Consignment will be able to offer the following advantages over their competition:

  • Inventory changes regularly on a one-month rotation to refresh customer choices and clothing availability

Marketing Plan

Brand & value proposition.

Casual Consignment will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who offer both excellent prices and assistance in service to customers.
  • A comprehensive, curated selection of cleaned clothing for customers
  • Affordable pricing on clothing that is sustainable and usable, saving the environment in the process

Promotions Strategy

The promotions strategy for Casual Consignment is as follows:

Word of Mouth/Referrals

Casual Consignment has built up an extensive list of contacts over the years by providing exceptional service and expertise to former clients. The contacts and clients will follow the employees to their new company and help spread the word of Casual Consignment.

Professional Associations and Networking

Retail associations will be joined and networking will be a priority during the first years of business in Houston. There are competitors, both direct and indirect, and the possibility exists for collaboration via associations.

Print Advertising

A direct mail piece will be sent to every Houston household offering a significant discount on clothing purchased during the first 90 days of business. This offer will be made to incentivize new customers to find and continue returning to the Casual Consignment Shop.

Website/SEO Marketing

Casual Consignment will fully utilize their website. The website will be well organized, informative, and list all the product types and services that Casual Consignment provides. The website will also list their contact information and list their holiday special inventory items, along with monthly discounts. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “consignment company” or “clothing resale near me,” Casual Consignment will be listed at the top of the search results.

The pricing of Casual Consignment will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Casual Consignment. Operation Functions:

  • Terri Cooper will be the owner and president of the company. She will oversee all staff and manage client relations. Terri has spent the past year recruiting the following staff:
  • Cary Brown will become the store manager and help oversee the store and take on operational duties.Cary Brown worked alongside Terri Cooper for five years after graduating from Houston Lyons High School.
  • Manny Jaurez, also a former retail associate, will become the general maintenance man and assistant in stocking and inventory.

Milestones:

Casual Consignment will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease store space
  • 5/15/202X – Finalize personnel and staff employment contracts for Casual Consignment
  • 6/1/202X – Finalize contracts for Casual Consignment vendors
  • 6/15/202X – Begin networking at industry events
  • 6/22/202X – Begin moving into Casual Consignment store
  • 7/1/202X – Casual Consignment opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Casual Consignment are the clothing fees they will charge to customers for their inventory items.

The cost drivers will be the overhead costs required in order to staff Casual Consignment. The expenses will be the payroll cost, rent, utilities, shop supplies, and marketing materials.

Funding Requirements and Use of Funds

Casual Consignment is seeking $200,000 in debt financing to launch its consignment store. The funding will be dedicated toward securing the store space and purchasing equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Customers Per Month: 400
  • Average Revenue per Month: $48,500
  • Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, consignment store business plan faqs, what is a consignment store business plan.

A consignment store business plan is a plan to start and/or grow your consignment store business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Consignment Store business plan using our Consignment Store Business Plan Template here .

What are the Main Types of Consignment Store Businesses?

There are a number of different kinds of consignment store businesses, some examples include: Clothing, Books, Music and Movies, and Furniture.

How Do You Get Funding for Your Consignment Store Business Plan?

Consignment Store businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Consignment Store Business?

Starting a consignment store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. 1. Develop A Consignment Store Business Plan - The first step in starting a business is to create a detailed consignment store business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your consignment store business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your consignment store business is in compliance with local laws. 3. Register Your Consignment Store Business - Once you have chosen a legal structure, the next step is to register your consignment store business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 4. Identify Financing Options - It’s likely that you’ll need some capital to start your consignment store business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 7. Acquire Necessary Consignment Store Equipment & Supplies - In order to start your consignment store business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your consignment store business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

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How to Write a Consignment Shop Business Plan [Sample Template]

Are you about starting a consignment shop? If YES, here is a complete sample consignment shop business plan template & feasibility report you can use for FREE . A Consignment Shop is a name given to a business where fairly used or second hand goods are sold. A consignment shop is a business you can start with little or no money because you just needs goods from individuals who do not need them and then sell to people that need them at giveaway price.

Just as we already know, fairly used products are highly affordable and far cheaper than brand new items, which is why the consignment sector of the retail industry will continue to flourish. It is also important to note that the consignment sector is not capital intensive. Thus business is a business you can do from the comfort of your home and earn a substantial income.

A Sample Consignment Shop Business Plan Template

1. industry overview.

The consignment sector of the retail industry has been able to capitalize on the recession, but its performance has suffered with the recovering economy. Also the rising unemployment rates have instigated or cause a drastic decreasing in per capita disposable income levels, moving consumers to reduce their discretionary spending.

It also moved many consumers who customarily shopped at department stores to turn towards the sector to buy cheaper used goods instead of new products. But it has been estimated that that the sector revenue will fall alongside general macroeconomic improvements.

Within the next five years, the sector revenue is expected to increase at a slower pace than the previous five-year period, largely as a result of rising disposable income and competition levels. The consignment shop sector is believed to be in the mature stage of its economic life cycle.

Industry value added (IVA), which calculates an industry’s contribution to the overall economy, is expected to rise at an annualized rate of 2.6% during the 10 years to 2022. The demand in this sector is driven by Demographics, consumer income, and consumer tastes.

The success of individual companies rests on efficient procurement and effective merchandising. Bigger businesses in the sector have advantages due to large marketing and finance, but little businesses can compete effectively by giving specialty products, serving a local market, or providing superior customer service. The US industry is fragmented: the 50 largest US companies account for about 30% of sales.

2. Executive Summary

Soccer Shops is a new sports consignment business in Honolulu, Hawaii. This business was founded and will be managed by Richard Craig, a retired footballer and presently the attacking coach with FC Hawaii. Just as you might have guessed, Richard is a well exposed footballer and an expert in the sports business. He understands the industry and best way to approach situations.

We at Soccer shops hope to capitalize on the vast opportunity and expertise of Richard Craig to dominate the market, which may include selection of used goods not replicated in the city, superior customer service, and reasonable prices.

We have been able to secure a suitable location that offers very good foot traffic, easy accessibility, and good road networking. We hope to work very hard to establish a business that will be the leading figure in the industry and also satisfying our customers need and demands.

Our Objective at Soccer ship is to establish a retail store whose primary goal is to surpass customer’s expectations, establish a business that will increase the number of clients served by at least 20% per year through superior performance and selection and to reduce drastically its dependence on non-renewable resources through the use of reused goods.

3. Our Products and Services

The fact that starting a consignment business can be very simple needs little or no up capital, requires no technical skills and it is a profitable venture makes it one of the businesses that a lot of people would want to start hence the high level of competition in the industry.

This is exactly why we at Soccer shop are very careful and zealous, so as not to start losing even before we open our doors. We hope to sell a vast range of sports and outdoors gears. We hope to add more items as we grow.

  • Fleece outerwear.
  • Rain gear, waterproof as well as coated nylon.
  • Thermal underwear.
  • Synthetic clothing for sports or travel
  • Sleeping bags.
  • Sleeping pads
  • Duffel bags
  • Cookware and stoves, and much more

4. Our Mission and Vision Statement

  • Our vision at Soccer shop is to build a standard one stop consignment shop in Honolulu, Hawaii – a business that will serve the needs of the people of Hawaii and surrounding states.
  • Our mission at Soccer ship is to give our customers quality sports and outdoor clothing and gear at affordable prices and rates.
  • Our mind set is set to attract and retain our customers.
  • We hope to stand by our vision and goals, and also provide services that will surpass that of our competitors.

Our Business Structure

SoccerShop just like we already said is a sports consignment shop owned and managed by Richard Craig. Richard Craig obtained business degree from the prestigious University of Hawaii. Richard Craig is also a retired seasoned footballer.

He started his football career with Honolulu galaxy futbol club before moving to Nottingham forest in England. He played in many A-list clubs which includes Portsmouth, Arsenal FC, Valencia FC in Spain, Lyon on France, before retiring in D. C United.

After a successful career that saw him win many trophies, he became a strong figure in the Hawaii football world. His presently the Attacking coach of FC Hawaii. His well known for his help in brings the football gears giants Adidas to Hawaii.

His also a sports analyst and also grew up managing his mum’s retail store. All these enormous experiences and many more not mentioned have instigated Richard Craig to believe he has the skills to manage and run Soccer Shop. We believe in his passion for success and his zeal to make Hawaii better and comfortable for its citizens.

We at Soccer shop are also interested in hiring individuals who are as experienced as Richard Craig to help us run our business. We hope to train them before bringing them into the business. We hope to train them on good customer approach, good communication skills and awesome customer service culture. We hope to start Soccer Shop with the following portfolios;

  • Chief Executive Officer (Owner)
  • Store Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

  • Accountants / Cashiers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO

  • In charge of providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • In charge of fixing prices and signing business deals
  • In charge of recruitment
  • In charge of payment of salaries
  • In charge of signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Store Overseer

  • In charge of managing the daily activities in the ship
  • Ensures that the store facility is in tip top shape and conducive enough to welcome customers
  • Interfaces with third – party providers (vendors)
  • Controls the sales floor inventory
  • Ensures that goods and products are properly arranged
  • Supervises the entire sales staff and workforce
  • Any other duty as assigned by the CEO
  • Takes care of vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Helps to ensure consistent quality of goods and products on our rack
  • In charge of the purchase of goods and products for the organizations
  • In charge of planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
  • Ensures that the organization operates within stipulated budget.
  • Takes care of external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyse the volumes of transactional data generated by customer purchases
  • Takes care of the organization website
  • Handles ecommerce aspect of the business
  • In charge of installing and maintenance of computer software and hardware for the organization
  • Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
  • Takes care of the organization’s CCTV
  • Handles any other technological and IT related duties.

Accountant / Cashier

  • Receives payments on behalf of the organization
  • Issues receipt to customers
  • Prepares financial report at the end of every working week
  • Handles all financial transaction on behalf of the company
  • Interfaces with our bankers
  • In charge of payment of tax, levies and utility bills
  • Any other duty as assigned by the CEO / store manager
  • In charge of cleaning the store facility at all times
  • Ensures that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the store facility
  • Any other duty as assigned by the restaurant manager,

6. SWOT Analysis

Our business plan we believe is not an ordinary document written to be kept in a drawer, but a plan that will tell us what to do and how to manage our business. This is the reason why we were very careful to conduct a SWOT Analysis.

We at Soccer shop are very much aware of the large quantity of retail stores in Honolulu even in the same location as us. This is also the reason why we are leaving no stone unturned to make sure that we establish a business that will take over the Industry.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Our SWOT Analysis was conducted by Access Business Consult. This firm is known to be the leading figure in business improvement and consulting. They did their job judiciously and they also worked with the available workforce we have at Soccer shop, before coming up with the SWOT Analysis that is summarized below;

According to our SWOT Analysis, our strength rests on our business location, our experienced workforce, and our standard Business model. Our SWOT Analysis went extra miles to discuss the possible competition we will be facing but noted that with our strength, we are heading for success without any barriers or whatsoever.

Our SWOT Analysis was quick to notice that our major weakness of the fact that we are a new consignment shop in the city of Honolulu, and it will take time for people to know what we offer and where we offer them. But we have designed our publicity and advertising strategies to be able to settle this problem once and for all.

  • Opportunities

With the recovery of the economy from recession, people are trying to manage their funds. They believe that the economy might still decline and it is best if they plan the future by cutting down their expenses.

Our SWOT Analysis noted that the feeling to cut down expenses will keep growing the consignment shop sector. We believe that the opportunities available to us are enormous and we hope to take it within the proximity of the law of the united states.

Our SWOT Analysis also noted that our major threat will be the time it will take us to gather the exact workforce that we need to run Soccer Shop. It is believed that good hands are scarce on the market, but we believe that Richard Craig being a leader in the industry can be able to help sort out this issues and also instigate a proper marketing plan that will push Soccer Shop forward.

7. MARKET ANALYSIS

  • Market Trend

It has been estimated that the retail sporting goods industry will rise with a CAGR of 3.4% over 2016-2022. It is believed that the main instigators of this growth in the retail sporting goods industry are increase in disposable income, governments promoting sports activities and encouraging sports participation, rising number of health-conscious people.

This rise we believe will encourage individuals to participate or choose more games or sports. And it is expected that many retailers will make use of the  social network to engage users and influence their merchandising decisions this year, but businesses are expected to go beyond that and use social not just to showcase products, but to actually sell them.

It is also expected that retailers will adopt marketing plan with tech innovations to decide how they can use them to aid the shopping experience. Innovation in this industry is expected to come from the technology part of the world. Cloud-based point of sale systems has proven that they can push old payment options out of the market with their performance, functionality, and looks.

And we believe that many retailers will recognize this and make the switch. Estimates and research has proven that about seven percent of consumers currently own wearable gadgets such as smart watches, glasses, and fitness monitors. But that figure is expected to triple in 2017.

This will move companies to become innovative on how to satisfy the urge of the world. The prices of these goods are also expected to be on the increase and not everyone can afford it, which in turn is an opportunity for us at Soccer shop.

8. Our Target Market

We will target and reach the people we know will benefit more when they use our brands. It is very important to note that the market for sports and outdoor clothing and gear consignment shop in Honolulu is wide open and ready for the taking. Honolulu Hawaii is the best community to push Soccer shop forward because it is the hub of sports activities.

From our extensive research, we have also found out there is no other consignment shop that offers the same products we hope to offer in Honolulu Hawaii. For this reason, we believe we can take over the industry and create a landmark that cannot be tampered with.

We at Soccer shop hope to target individuals that need sports and outdoor clothing and gear but cannot afford it due to financial constraints. It is an established fact that most sports and outdoor enthusiasts do not have unlimited financial resources but they value quality of life, and one part of their daily activities is free time in the outdoors.

Spending a substantial amount of time in the outdoors precludes being at the office making money concurrently. We believe this is even more common with the people living in Honolulu. People choose to settle in Honolulu and Hawaii entirely because of its serene environment and mountainous nature.

We believe that with a great population of sports and outdoor enthusiasts, particularly those who are willing to give up their financial gains for quality of life, we at Soccer shop have a large population base to offer our products and services. The presence of Honolulu galaxy futbol club, FC Hawaii, University of Hawaii, Honolulu city football club, Hawaii Youth Soccer Association clubs, and Hawaii Harlequins Rugby Football Club will serve as bonus to us.

Our competitive advantage

It is important to note that Honolulu has no sports and outdoor consignment shop, but there are two competitors in the whole of Hawaii that offer the same services like SoccerShop; although one is a consignment shop and the other is a normal sports retailer. Though they are miles away and in different smaller towns, we see them as competitors we need to take seriously.

Our main competition in Honolulu is the retail shops where individuals can buy brand new sports and outdoor clothing and gears. Another competition we are very aware of is the thrift stores that sell used clothing and equipment in Honolulu. These shops are very few in Honolulu, but we are considering every possible point in other not to make mistakes.

We at Soccer shop are very sure that our choice of used sports and outdoor clothing and gear cannot be replicated in the city. We know there are a lot of sports retailers in Honolulu, but none of them sell used sports and outdoor items. We at Soccer shop hope to offer superior, personalized customer service. Soccer shop is a used sports item shop but we intend to run it as a shop that offers brand new merchandise.

Even consignment shop retailers have expectations of high service. We are prepared to treat our prospective customers with very personalized service. We hope to create a standard database of our customers and purchasing history so when they enter the store the sales person will have very personal information about the customer. This we believe will make them feel special and inculcated into our business stream.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

There a whole lot of areas we are looking at making money from, this is since we are not a charity organization. Soccer Shop will be formed as a corporation in Hawaii, with our shop and warehouse in Honolulu. Soccer shop was formed as a consignment shops that sales sports and outdoor clothing and gears to the people of Hawaii.

We believe that our business model is well organised to fetch us incomes that will help us run the business successfully without hindrance. We hope to offer the following services to gain substantial income;

  • Sleeping bags
  • Cookware and stoves, and much more.

10. Sales Forecast

We at Soccer shop hope to use the first month to get the store prepared for business and within this period, we do not hope to take part in any sales activity. We hope to prepare our store, display counters which will be set up as will all of the racks. During that period, our dressing rooms will then be built. We hope to open our shop officially during our second month but we acknowledge that business will be slow.

We hope to build up inventory during the second month. We also hope to achieve this through advertising in the many different local outdoor magazines/ journals, as well as advertising at the University of Hawaii generally, as well as in all sports club and facility. From our fourth month we believe that our sales will be steady and rising. Listed below is an accurate sales forecast for Soccer shop;

  • First Year-: $900,000
  • Second Year-: $1,600,000
  • Third Year-: $2, 500, 000
  • Marketing Strategy and Sales Strategy

We will voraciously do marketing from the outset. We believe in the massive result that a diligent marketing drive can bring about and that is why we want to work our best. We at Soccer shop understand that managing a business requires that you to be sharp and focused when it comes to marketing your goods or services.

We hope to start promoting Soccer shop even before we open our doors for business; we hope to move individuals to bring their used goods to us for remodelling and selling.

We understand that having a vast range of inventory is very important in the industry and this can be achieved very well through a two prong approach. Our first advertisements at Soccer shop will be to announce our shop in local sports magazines/journals and requesting people to bring in their extra clothing and gear to sell.

The second phase of our advertising will be to contact sports manufacturers, retail outlets, and manufacturer representatives and alerting them to the option of selling their excess products at Soccer shop. Below are marketing strategies we hope to use at Soccer Shop;

  • We hope to use Direct Marketing
  • We will also Sponsor TV and Radio Programs
  • We also plan to erect our Billboards in Strategic locations around Honolulu
  • We plan to make use of sales Agents and sales reps
  • We hope to leverage online Marketing (via your official website, social media platforms and blog et al)
  • We will also use Referral Marketing to our advantage
  • We will also engage in road show within the community where your consignment store is located.
  • The we will list your business in local directory / yellow pages

11. Publicity and Advertising Strategy

No business does well without marketing and advertising. We know this and that is why we will leave no stone unturned in seeing to it that we get our products and services to be in the faces of people. We at Soccer shop understand how competitive the global consignment shop industry is, which is why we have devised ways to neatly used items at giveaway prices or remodel the once we get.

A Consignment ship just like any other business in the retailing industry needs constant promotion to get people to buy into the brand and we at Soccer shop are very ready to make people know that we exist. We hope to make use of the following strategies to promote Soccer shop;

  • Place adverts on national TV stations, Radio Stations and Newspapers / Magazines
  • Run our own special TV program
  • Sponsor relevant community programs
  • Leverage the internet and social media platforms like; Instagram, Facebook , Badoo, YouTube, Twitter et al
  • Install our Bill Boards on strategic locations
  • Engage in road show from time to time
  • Distribute our fliers and handbills to targeted areas from time to time
  • Send out introductory letters to households in and around our location
  • Encourage the use of word of mouth especially from loyal customers
  • Ensure that all our vehicles are branded with our company’s logo
  • Ensure that all our employees wear our branded shirts during work hours

12. Our Pricing Strategy

We at Soccer shop understand how important pricing can be to a business especially in the retail industry. We also understand that the success we hope to achieve in terms of pricing rests on our bargaining power. Which is why our merchandise Manager will have to come together with the Chief Executive Officer to ascertain the price of our goods, and also the price of the inventories we purchase.

We also plan to inculcate all our expenses in our pricing in other maximize profits that will helps manage our business successfully.

We at Soccer shop plan to keep our prices below the average market price for all of our customers by keeping our overhead low and by collecting payment in advance from individuals who would want to book a product. We also hope to offer special discounted rates to all our customers at regular intervals to attract them to our business.

  • Payment Options

We at Soccer shop are very much aware that the payment options we provide will serves as a factor that brings our business closer to the heart of the people, and we are very much prepared to make use of that extensively. We will be bringing payment options that are unique and will make the payment for the service we offer very easy for our customers.

We also hope to provide these services by partnering with a renowned bank in the country. Our bank account numbers will be made available on our website and promotional materials so that it will be easier for clients to make payments when necessary.

  • Payment by via bank transfer
  • Payment by POS
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment via mobile money
  • Payment with cash

13. Startup Expenditure (Budget)

We will do well to count our chickens even before they are hatch. This we know will enable us work hard at achieving our goals and dreams. It is a well noted fact that starting a consignment shop isn’t an easy task and can be dictated by a lot of facts.

Factors like the location you intend starting the business, the type of second hand goods you want to retail, the size of the consignment shop you want to open, and of course the state of the economy as at when you intend starting the business. Starting a consignment shop requires little or no capital.

SoccerShop will be the forerunner of the industry, which is why we are very careful to note all important facts. We hope to spend our start up capital in the following way;

  • Office equipment and furniture – $18,000
  • Cost for store equipment (cash register, security, ventilation, signage) – $19,000
  • The cost for Start-up inventory – $250,000
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $49,000
  • Other start-up expenses including stationery ( $500 ) and phone and utility deposits – ( $2,500 ).
  • Cost for Shop remodelling – $5,000.
  • Cost for payment of rent for a shop for 12 month at $1.76 per square feet in the total amount of – $52,800.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,000
  • Cost for hiring Business consultant – $2,500
  • Marketing promotion and grand opening expenses – $94,000
  • Legal expenses for obtaining licenses and permits as well as the accounting services totalling – $1,300.
  • The Total Fee for Registering the Business in the United States of America – $750.
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost of Launching a Website – $600
  • Additional Expenditure (Business cards, Signage et al): $5,000

From our Analysis above, we need $534,450 to start SoccerShop. We are very much prepared to organise and manage our business to maximize profits and become the lead figure in the industry.

Generating Funding / Start up of Soccer shop

Starting up a business might be a challenge at first. This is why we have put plans in place on how to make sure that the funds needed for this business is generated. Soccer shop is a standard consignment shop that will sell only sports and outdoor clothing and gears.

This business was founded and will be managed by Richard Craig, a retired footballer and presently the attacking coach with FC Hawaii. The business will be financed by Richard Craig and his immediate family members. Which is why the generating of start up capital has been restricted to just Richard Craig.

Richard Craig has been able to raise $600,000 from his own personal savings as a seasoned footballer and many endorsements. Being the only one to raise the fund doesn’t mean that soccer shop will be managed like a bedroom business. The business will be run by professionals and every decision will be extensively discussed.

14. Sustainability and Expansion Strategy

It is the wish of all businesses to soar and then break even. This is exactly part of our aim too. And that is why we want to strive to make sure this comes to a pass. Our sales strategy at Soccer shop will rest on solid retailing techniques of proper display and proper lighting.

We plan to set up our store so that the floor space is divided up in thirds with the best sellers in the most accessible front third, and then the next best sellers in the second third, and so on. We believe this will help produce what we buttress at Soccer.

All our products will be tagged with bar code price labels, which will provide inventory control and also stop the adjustment of the prices by bad customers. We also plan to be rotating our unsold stock every 90 days. Which means that any item not sold within 90 days of purchase will be returned to its owner.

We at Soccer shop hope to get our inventories from different sources. We hope to get our inventory from individuals that believe that it is preferable to receive something for their goods rather than packing them up to a thrift store. These individuals might want something new and may decide to raise the fund by selling what they already have.

We also plan to get our inventory from manufacturers who might want to get rid of some of their inventory, maybe because the products are outdated. We will also get our inventory from manufacturers’ representatives that get a large number of samples from many different manufacturers and tend to pass them out when they no longer need them.

Checklist/Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting feasibility studies: Completed
  • Leasing, renovating and equipping our facility: Completed
  • Generating part of the start – up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • writing of business plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress

More on Wholesale & Retail

Sample Consignment Store Business Plan

Consignment shop business plan pdf sample.

Are you looking for a cheap and easy business to start?

When you want to start a new and exciting business, you may want to think about starting a consignment shop. There is a lot that you can do with this type of business and still have a lot of fun doing it at the same time.

A consignment shop is a store where people bring things that they want to sell.

Oftentimes this is clothing, but it can be any number of items. You then sell the items for the person and take a percentage of the profit, giving them the rest.

Consignment shops are great not only for the owner but for the customers as well. People who can’t afford to shop retail can find nice items in consignment at a lower price.

Consignment shops have started popping up in nearly every town across the United States and the world at large.

Whether they are selling clothes or furniture, sporting goods, or household appliances, consignment offers a great way for people to buy and sell used goods, whether it is online or in a brick-and-mortar store.

I have here 5 steps to take for you to be able to start a consignment shop in your community or city and here they are.

  • Research your Competitors

It takes a lot of research and groundwork to kick-start any kind of business and starting a consignment shop is no different.

Before you begin this business, you have to research your competitors. Jot down what you believe are their strengths and weaknesses. You should fine-tune your business plan and your advertising to play up your uniqueness. Decide what area of town your consignment shop would do best in.

  • A Business Plan for your Consignment Shop

For a business to be successful, the one thing it needs initially above anything else is a solid consignment shop business plan. Even if you are not planning on getting a loan, you still need a business plan to help you plan things out and know the direction you want to move in. Without a business plan, the success of your consignment shop is uncertain.

Even a ten-page business plan will double your chances of success. Your business plan should spell out what your market is like, what kind of competition you have, and what niche you will fill. It should specify your business structure, how many employees you’ll need, and what your startup costs will be, as well as what your monthly overhead costs will be and how many months it will take for you to break even.

You also need to write a basic marketing plan and write a detailed resume for yourself and why you have what it takes to run a great consignment shop. There are plenty of resources online for how to write a business plan, but that gives you the thumbnail sketch.

  • Selecting a Location

The location is a primary consideration and one of huge significance. Several aspects need to be considered.

Obviously, the first consideration is rent. Most prime locations charge a steep rent. But if you can afford it, you should not compromise on a location that has all the elements necessary to start a consignment shop.

Some of these are ample parking space, high traffic from pedestrians and vehicles, and proximity to similar or complementary businesses.

Have it in the back of your mind to get a good location that fits your budget so you don’t end up in a tight situation.

This will be easier than you think. Almost any consignment store owner will tell you that getting inventory is not a problem. Place a few ads or let friends know you’re taking inventory, and your store will fill up faster than you can believe.

The real problem is picking stuff that will actually sell. That’s a fine art, and most of your long-term success as a consignment store owner will hinge on it. Just keep practicing.

If you are taking things in on consignment, remember to only accept items that really grab your attention. You have no obligation to take things off of people’s hands that are too used or don’t fit with your style. The pickier you are, the more unique your store will become.

  • Advertising your Consignment Shop

If you decide to start up a consignment shop, your biggest expense is going to be advertising. Be patient and continue to spread the word. Be fair with your prices and people will come in and give you repeat business.

As you make a profit, grow your business with it. Eventually, you could move your home-based business to something even larger!

You can advertise in the local newspapers. This is a great way to let others know who you are and what you want to do. Another good idea is to send out flyers to the local neighbors in your area to let them know that you are new and that you are in business.

CONSIGNMENT SHOP BUSINESS PLAN EXAMPLE

Here is a sample business plan for starting a consignment store.

A consignment store business is a business that can be started with very little capital. This is simply because it involves the sale of fairly used items that do not really cost a lot. The goods that you intend to sell in your consignment store can be sourced from individuals that do not need them and sold to those that need them at very affordable prices.

The ease with which a kids consignment store can be set up makes it a perfect business for individuals that do not really have a lot in terms of capital.

Apart from doing your feasibility study and raising the capital for starting a consignment store business, you will also need to come up with a business plan. Well, this article contains a consignment store business plan sample. This will help you write the perfect business plan for your consignment store business.

Business Name:  Mr. Woods Consignment Store

Executive Summary

Our Products and Services

Vision Statement

Mission Statement

Business Structure

  • Market Analysis

Sales and Marketing Strategy

  • Financial Plan

Competitive Advantage

Mr. Woods is a consignment store that will be located in Detroit, Michigan. Mr. Woods consignment store was established by Jesse John, a renowned furniture maker with over 30 years of experience. This business will be set up at $50,000 and will make very cheap but quality furniture available to the residents of Detroit, Michigan.

To get things started, we have already gotten an ideal facility where our consignment store will be located. This facility is in a very busy environment and also very easy to access. We are not just in this industry to make money, we are also very interested in becoming one of the biggest consignment stores in Detroit, Michigan, the entire United States, and major cities in neighboring Canada.

The level of competition in the consignment industry is quite high. The reason for this is the very little amount that is needed to start this business, the very little requirement for technical skill, and the huge gains that can be made in this industry.

To survive in this highly competitive industry, we have decided to create our own niche. We will not just sell products to members of the public, we will stick to the sale of furniture only.

Some of the goods that we will be selling are

  • Fairly used office furniture
  • Fairly used kitchen cabinets

At Mr. Woods consignment store, our vision is to establish a top-notch consignment store in Detroit, Michigan. We aim to use this means to meet the basic furniture needs of the people of Detroit, Michigan.

At Mr. Woods consignment store, our mission is straightforward. Our mission of establishing a consignment store is to make all manners of quality furniture available to the residents of Detroit, Michigan at very cheap prices. We are also looking to become a force to reckon with in this industry.

Several things keep us driven at Mr. Woods’s consignment store. However, a few of them are; to help people get the best of furniture at giveaway prices and to dominate the consignment store industry in the United States.

We are a new consignment store and we know that we will have to be intentional if we want to make it to the top.

To ensure that we become a force to be reckoned with in a very short while of operation, we will hire only hardworking and experienced individuals to work with us.

We will also ensure that our workers put in their best by giving them the best treatment possible.

Market Analysis Market Trends

The consignment industry has been running for quite a while. Since it was established, all it has done is flourish even when other industries haven’t. This is so because of the very high demand for cheap and quality fairly used goods.

The truth remains that the demand for consignment goods skyrockets when the economy is bad.

Now, look at it from this perspective; when the economy is bad, lots of individuals can’t afford to get quality new goods. This, therefore, makes most people focus their attention on fairly used goods.

There is a high level of competition in this industry, as a result of this, we have come up with strategies to help us make more sales than our competitors. Some of them are;

  • We will ensure that we have a strong internet presence
  • We will ensure that our handbills are made available at public places so that people can get aware of our existence

Target Market

  • There are lots of consignment stores scattered across the United States. This implies that there is a high level of competition in this industry. We have carried out our research and have decided to deal in furniture only. Those we are looking to offer our services to are;
  • Family People

Financial Plan Source of Startup Capital

Not much is need to start up this business. Despite this, we do not have all the money that we require to startup. We have 50% of the amount we need. This amounts to $25,000, the remaining amount will be sourced from the bank.

Mr. Woods consignment store is a consignment store that focuses on furniture only. Now, the fact that this consignment store is owned by a furniture maker automatically puts us ahead of other consignment stores in our niche. We have decided to capitalize very strongly on this factor.

This is a business plan sample for a consignment store business . This business is owned by Jesse John and will be located in Detroit, Michigan.

Related posts:

  • Starting A Consignment Shop – 10 Business Ideas
  • Sample Beauty Supply Store Business Plan
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Simple Consign

8 Tips for Launching Your Consignment Business

SimpleConsign

By SimpleConsign

Table of contents, wondering how to start a consignment shop follow these steps.

Opening a consignment shop can be a great way to turn your passion for vintage or unique items into a profitable business. And now is the perfect time to do so. According to thredUP and GlobalData:

The U.S. secondhand market  is expected to reach $70 billion by 2027.

Online resale  is expected to grow 21% annually over the next five years, reaching $38 billion by 2027. It's the fastest-growing resale segment.

Smart business owners start with a strong business plan

If you've ever asked yourself, "How do the best consignment stores work?" know that a successful consignment business begins with a solid business plan. The time you invest in creating this document saves you money and keeps you on track for the long haul. 

Entrepreneur.com suggests that starting a consignment clothing store requires an initial investment of $3,000 to $10,000. However, it takes at least two years to work out all the details and get the business running smoothly.

To start your own consignment store successfully, consider your business structure, target market, consignment policies, projected sales, and cash flow. You should align your goals with your projected sales to determine what steps you need to take to achieve them.

You will also need to make a list of start-up expenses, including the cost of shelving, tags, bags, a cash register, signage, and inventory. It is important to estimate how long your business can operate without additional funding so that you can give your store a fair chance of turning a profit.

The Small Business Administration has helpful resources that you may find useful for starting a consignment business.

1. Research the neighborhood

To choose a neighborhood, visit city hall and gather information on income, age, marital status, etc. It's important to be familiar with the area. You can make sure there's a market for your type of store in the area. 

Look for gaps in the market, current trends, and successful vendors. 

Does children's clothing resale dominate the industry?  Is there room for a furniture provider? What about luxury handbags?  

This will give you an idea of what items to sell, how to price them, and what to expect from the competition.

Remember, it truly is all about location. If your market has a lot of secondhand shops or a large, well-known shop will be in direct competition, think about ways to make your store unique. Look for a location with high foot traffic surrounding your target market. Implementing a comprehensive marketing strategy is important, but this approach can help you attract new customers faster.

Consider talking to the competition and contacting similar businesses in other cities or states. If you aren't comfortable talking to a competitor, at least browse their store and marketing materials. 

2. Choose a business model

There are two primary business models in the resale market: buy outright and consignment.

In the buy outright model, the seller receives payment first for their item. Then, the reseller takes over and sells it.

In the consignment model , the seller retains ownership of the item. However, the item is placed in the reseller's store or website for sale. The reseller takes a percentage of the final sale price as their commission.

The key difference between these two models is who assumes the risk and responsibility of selling the item. With buy outright, the reseller takes on the risk and responsibility, while with consignment, the seller retains it. Both models have their advantages and disadvantages, and it's up to the seller to decide which one is best for them.

Of course, there are other factors to consider. Will you charge extra for large items? What about credit card fees? Will you pass those on? It’s common to pass these on to consignors when appropriate. Before meeting with your vendors and consignors, you will need answers to questions like this. This is one area where choosing a consignment store point of sale , like SimpleConsign, really matters. The ability to add and configure custom fees adds to your bottom line. For a list of fees to consider, check out 10 Ways to Manage Your Bottom Line.

3. Decide whether you want to sell online in addition to your physical location

Keep in mind that the needs of a brick-and-mortar store are different from those of an online only consignment shop. If you choose to start an online consignment store, be sure to account for extra expenses like packing and shipping costs. You'll also want a dedicated space for packaging and sending out items.

You can take a hybrid approach to find what works for your business. SimpleConsign's Shopify integration makes this easy.

4. Choose a consignment store software

Choosing the right consignment POS provider is a critical decision for your business. The consignment software is the backbone of your operations and has a direct impact on your bottom line. It enables efficient transactions, accurate inventory management , and seamless customer experiences.

A reliable and user-friendly resale POS provider can streamline your business processes, improve customer service, and increase your consignment sales. On the other hand, a subpar consignment POS system can lead to costly errors, frustrated customers, and missed opportunities. Therefore, selecting the right consignment store software is crucial to the success and growth of your business.

5. Design an attractive store

Often, shoppers form lasting impressions of your consignment shop based on the layout of your store. No matter how well-stocked the store is, customers will find another place to shop if it isn't clean, bright, organized, and attractive. 

To enhance your sales, visit your preferred retailers and observe how they display their merchandise. To attract customers, place the seasonal must-have items at the front of the store.

You can keep the sale products and everyday items at the back. For smaller items that cost less than $10, it’s better to display them next to the register to increase impulse buying. These small purchases can add up to significant sales every month.

It’s also crucial to change the way you display your merchandise to make it feel fresh and new. You can check out " Retail Store Layout Designs that Increase Your Sales " for ideas on store layout designs.

6. Acquire inventory with a clear consignment agreement

To be successful in selling consignment products, you must attract consignors with quality merchandise. Don't open the doors before the shelves are full. Shoppers will hesitate to come back. However, if you fill your shelves with inventory shoppers aren't interested in, they won't return either. 

Knowing your neighborhood and its demographics means you'll know what merchandise to offer. Scour yard sales, auctions, estate sales, business liquidations, and thrift shops for good deals. Learn to bargain and negotiate. These skills will be needed when interacting with consignors. 

7. Seek community support

Consider reaching out to your community for support by teaming up with other businesses in your neighborhood. You could offer cross-promotional services and discounts to customers.

For instance, a clothing store could collaborate with a dry cleaner or tailor, while a formal wear shop could sell original accessories created by an aspiring jeweler.

Similarly, a children's consignment store should consider partnering with a local photographer for a customer appreciation sale, while a furniture shop could benefit from a strong relationship with a moving company.

8. Think outside the resale box

To become a successful consignment business, look for every opportunity to build your vision. Join organizations such as the  National Association of Resale Professionals (NARTS) .

Get involved with your local Chamber of Commerce. Find ways like Shop Small Saturday to encourage your community to shop locally. Do your homework, and you  will  be successful.

Ready to open your business?  Try SimpleConsign free  for 15 days.

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How to Write a Business Plan for a Consignment Shop

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How to open an old-fashioned general store, how to sell my flower shop.

  • How to Write a Business Plan for a Convenience Store
  • How to Start a Consignment Resale Shop Business

Starting your own business is one of the best ways to grow your wealth and achieve your dreams. Opening a consignment store can be an excellent business move for the right individual, but before you open your doors you need to know how to write a business plan for a consignment shop. The business plan defines the scope of your business, lays out how you are prepared to succeed and details the relevant experience you bring to the new venture.

Business Plan Template

Microsoft Office has some excellent templates available for free downloads. Other popular office suites also include templates that can be customized to create business plans. If you wish to complete your business plan the old-fashioned way, you can obtain business plan templates from your local Chamber of Commerce or from the Small Business Administration office in your area. Financial books at the library and bookstore are also good sources of business plan information and examples.

List Your Business Experience

Make a list of your experience in the retail business. You can make this list mentally, but it is often helpful to get it down on paper. Include all experience you have with buying and selling the type of items you plan to offer at your consignment store, including time spent as a sales clerk or buyer.

In order to be successful, the owner of a consignment clothing store, for example, needs to have a discerning eye and the ability to pick up on new trends in the fashion industry. Likewise, the owner of a consignment furniture or accessories store needs to be able to spot the trends and buy the furniture that is most likely to sell quickly.

Executive Summary and How to Differentiate the Business

This section should state the purpose of the business, including the proposed name of the operation. The section that follows should state how the store will differentiate itself from the competition, that is, what makes your consignment store different from the thrift store down the street. Offering types of products not normally found in the second-hand market can be a big help.

Marketing and Promotion Strategy

How will you advertise your consignment store? What techniques do you plan to use? It is important for lenders and others who review your business plan to see how you intend to market your business and introduce it to the community.

Organization and Management

Provide information about the ownership of the new business, including the names and titles of all business partners and officers. Also provide a brief but thorough overview of the start-up company. The overview should include details about the products the store will sell, where it will get its merchandise and where it will be located.

List your management experience, focusing on experience that is relevant to the consignment business world. List the number of years of management and relevant retail experience you bring to the new enterprise.

Service or Product Line

List the types of products the consignment store will offer. Many consignment retailers limit their product lines to high-end designer clothing and accessories, for example, in an effort to attract a wealthier and more discriminating clientele. Provide a brief overview of the products you already have in stock, as well as your plans for obtaining quality merchandise on consignment.

Market and Competitive Analysis

Include information on any market analysis you have completed, including details about any existing consignment stores. Compare your new business model to the stores that already exist in the community, and explain how your operation will improve on that model.

Financial Projections and Related Information

Provide relevant financial information for your start-up company, including any partnership arrangements you have entered into and any loans you have obtained. Attach statements from your CPA or accountant if applicable.

Things You Will Need

Computer (optional)

Business plan template

  • Bplans.com: Women's Clothing Boutique Sample Business Plan
  • SBA.gov: Write Your Business Plan
  • Microsoft Office: Business Plan for Startup Business

Based in Pennsylvania, Bonnie Conrad has been working as a professional freelance writer since 2003. Her work can be seen on Credit Factor, Constant Content and a number of other websites. Conrad also works full-time as a computer technician and loves to write about a number of technician topics. She studied computer technology and business administration at Harrisburg Area Community College.

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Starting a Business | How To

How to Start a Consignment Shop in 9 Steps

Published January 12, 2022

Published Jan 12, 2022

Meaghan Brophy

WRITTEN BY: Meaghan Brophy

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This article is part of a larger series on Starting a Business .

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  • 1 Choose the Right Type of Consignment Shop
  • 2 Create Your Budget
  • 3 Create a Business Plan
  • 4 Select a Storefront
  • 5 Acquire Merchandise
  • 6 Design & Outfit Your Store
  • 7 Advertise
  • 8 Hire & Train Employees
  • 9 Plan & Launch Your Grand Opening
  • 10 How to Start a Consignment Shop FAQs
  • 11 Bottom Line

To start a consignment shop, as with any business , you’ll need a prime storefront and a strategy for acquiring customers and merchandise. It involves choosing a niche, establishing a budget and business plan, finding merchandise and laying out your store, advertising, staffing up, and, finally, opening to the public.

Starting a consignment store can cost up to $10,000, according to a commonly reported figure from Entrepreneur, with average salaries for consignment shop owners ranging from $40,000 to $60,000. Here’s how to start a consignment shop―as a brick-and-mortar store―in nine steps.

1. Choose the Right Type of Consignment Shop

If you’re wondering how to start a consignment shop, the first step is to narrow down exactly what kind of store you want to open . The most successful stores cater to a specific audience and have a specialty or focus area that helps them stand out from other online or offline retail competitors. To make the most money with your new business, choose a product area that is in high demand and/or hard to find, to lure shoppers into your store.

Designer & Luxury Goods

The secondhand luxury and designer goods market was worth an estimated 33 billion euros in 2020 (about $37 billion), a figure expected to continue to rise. These are popular items because shoppers can purchase products that may otherwise be outside their budgets. People looking to get rid of gently worn designer products often opt to sell them to a consignment store rather than donating to get a partial return on their investment.

Popular designer goods to sell include watches, jewelry, sneakers and other footwear, handbags, wallets, jewelry, and apparel.

Showing different kinds of apparel.

The apparel resale market will hit $77 billion in the next five years , according to ThredUP.

LXR is an online consignment shop for luxury and designer handbags and accessories. The store focuses exclusively on authentic designer label goods. It also purchases used goods to sell on its site.

Apparel & Footwear

Clothing and shoes are popular secondhand items, even if they’re not expensive designer-label. More than three-quarters of people who’ve never done it would consider selling secondhand clothes. They’re relatively easy to source—more than 95% of the 36 billion tossed clothing items each year could be salvaged—and they’re items for which there will always be demand.

In fact, clothing is the most-purchased secondhand good . And as much as 7% of the average person’s wardrobe consisted of used items in 2019, a figure expected to hit 17% in 2029.

The largest target market for this type of consignment shop are Gen Z women, according to ThredUP. So keep those styles and trends in mind if you’re going after that audience.

Omnia is an excellent secondhand apparel and accessories shop to check out for inspiration. It sells a carefully curated selection of used vintage goods.

Showing an Omnia shop page.

Secondhand books are another popular consignment category. In addition to regular paperbacks and hardcover books, some used bookstores deal in rare books, such as antiques and signed copies, or specialty books like cookbooks and textbooks.

Popular websites like ThriftBooks and Better World Books are examples of online retailers that have found success swelling used books. Puerto Rico-based El Coquí Bookstore sells used books in-store only—shoppers have to visit the shop and explore the wide array of books in a variety of languages.

Children’s Wear

Clothing for children and babies is a popular and profitable type of consignment store. Since parents have to purchase clothes for growing children very often, many turn to secondhand stores as an affordable option. Plus, you’ll have a steady supply of parents looking to sell their children’s gently used clothes.

Once Upon A Child is an example of a secondhand shop that sells both children’s clothing and toys. The brand operates several retail shops as well as a full online presence.

Online Consignment Shop

During the past several years, online consignment stores have become very popular, especially for apparel and accessories. Starting an online consignment shop gives you a wider customer base than a local store.

Check out these resources to help you learn how to start selling online:

  • How to Start an Online Store
  • Best Ecommerce Platforms
  • How to Set up Click and Collect

One key thing to remember when starting an online consignment shop is that you’ll need to photograph each item individually. This can be time-consuming, so it’s important to weigh how much time it’ll take you against the opportunity for profit.

Pop-up Consignment Shop

If you’re not ready to commit to a full-time storefront, having a pop-up business is a great way to test products and locations before diving in. If you’re looking to start a consignment business as a part-time venture or side gig, having temporary stores is a good option as well.

Pop-up shops come with less commitment, so they’re a great way to get into retail without all the overhead of running a permanent storefront. This is exactly the approach that Grapevine Events takes with their secondhand goods pop-up shops. As a result, they’re also able to offer higher rates to consignors.

2. Create Your Consignment Shop’s Budget

Once you know what kind of store you want to open, the next step in how to start a consignment shop is setting a budget for your store . To set your budget, first consider your current income and savings. What can you save and set aside for your new business venture? How much outside funding will you be able to get from personal loans, business loans, business credit cards, and so on? Opening a consignment business requires a lot of upfront cash. Once you’re open, it will take time to build your sales volume.

Next, estimate your expenses for opening your store. Include how much you can spend on a storefront, outfitting the inside of your store, signs, and marketing, and your initial product purchase.

Now, estimate your monthly expenses for once you open. Include set bills like rent, phones, internet, payment processing, and so on. Also factor in advertising budgets, employee salaries, merchandise purchase orders, and other store supplies.

The hardest part of setting a budget for a business that is not yet open is predicting your monthly sales volume. This is especially hard for apparel and retail businesses as sales can fluctuate drastically, depending on the season, holiday, weather, economy, and consumer confidence. According to the Retail Owners Institute , used merchandise retailers had an average inventory turnover rate of 4.1 in 2021. That means they sold through and replaced all of their inventory about four times throughout the year.

Keep that number and your total inventory value in mind when estimating your monthly sales. Err on the side of caution, and plan for lower sales when you open, so that you have enough cash flow to cover expenses. Subtract your estimated monthly expenses from your estimated monthly sales, and that will give you an approximate monthly cash flow for when you open.

Pro tip : Retail is an extremely seasonal business. Most retail businesses bring in a ton of money around Christmas and the winter holidays. There are also spikes in revenue around back to school shopping, and spring holidays such as Mother’s Day and Father’s Day. Your monthly sales can vary, so always have extra cash on hand to cover slower months.

3. Create a Business Plan for Your Consignment Shop

Once you figure out what kind of consignment business you’d like to open, you’ll need a solid business plan to piece together all your ideas and form a strategy for making your store profitable. If you’re seeking outside or startup funding such as a bank loan, your business plan will be evaluated during the approval process.

Here are the nine elements found in a typical business plan :

  • Executive summary : An introductory paragraph outlining your consignment shop’s purpose, mission, and why it will be successful.
  • Business description : Describe what need or market hole your consignment store is filling in the community, who your customers will be, and the talent on your team.
  • Market analysis : Write an overall outlook on the consignment and resale industry including trends, what successful competitors are doing, and what your strengths will be.
  • Organization and management : Outline who will be running your business and the experience your team members have in retail, consignment, or your store’s area of specialty.
  • Product line : Outline what kinds of products you will sell, how you will sell them, and where your supply will come from. Include research on why you’re selecting those products, such as sales trend data.
  • Marketing and sales : Describe your general marketing strategy and your plan for attracting and retaining customers.
  • Funding requests : If you need outside funding, outline your needs and specify exactly how you will use the funds.
  • Financial projections : Detail how your business will become stable and profitable, including a projected financial timeline of at least five years. If you are borrowing funds, include a plan on how you will be able to repay the loan.
  • Appendix : Use this space for any supplemental documents, such as logo or branding designs, sketches of what your consignment shop will look like, credit histories, licenses, permits, etc.

When writing a business plan, use the format and software you’re most comfortable with. Many people use a traditional word processor like Microsoft Word or Google Docs. You can also create your business plan in a presentation format using PowerPoint or Google Slides. There are also business plan software programs that offer templates and guide you through the process.

Choose the Best Legal Structure

Choosing a legal structure for your consignment business is important because it dictates how you will collect and report taxes, your level of personal liability, and how you will get paid from your business. There are many types of legal structures, but the three most commonly found in retail are sole proprietorships, limited liability companies (LLCs), and corporations .

  • Sole Proprietorship
  • Limited Liability Company
  • Corporation or C-corp

If you don’t set up a legal structure for your business, this is the default. Operating under a sole proprietorship essentially means you’re doing business as an individual and, therefore, are not separated from your business in any way. Sole proprietorships are popular options for freelancers, business consultants, and other individuals conducting low-risk and low-visibility work by themselves.

With sole proprietorships, your business revenue is considered personal income. This means you will pay sole proprietorship taxes based on your personal income bracket. While you are subject to self-employment taxes, you do not have to pay any corporate taxes, which is a plus.

However, sole proprietorships also come with greater risk because you and your business are one and the same. Your personal assets, such as your house and car, are at risk if there is any kind of lawsuit against your business or if you declare bankruptcy.

LLCs are legal structures for small businesses that protect your personal assets, such as your house and car, in the case of lawsuits or business bankruptcy. This is the most popular legal structure for small retail businesses and the one we recommend if you are planning on maintaining a single consignment storefront.

If you’re the single owner of the LLC , you’ll likely still pay taxes the same way you would as a sole proprietorship but with the benefit of personal assets protection from liability. However, many states have separate LLC taxes, which may make it more expensive than operating as a sole proprietor. It’s always best to check with your local regulations.

To form an LLC, you need to choose an official name and file paperwork to establish your company, whereas a sole proprietorship doesn’t require any paperwork. Luckily, the paperwork isn’t overly extensive and can be filed easily in a few steps using a tool like LegalZoom .

Corporations are the most structured legal form for your consignment business. They have strict tax guidelines. When you create a corporation, it’s a completely new and separate entity in the eyes of the government and the IRS.

Corporations are an ideal structure for consignment businesses that want to expand into multiple storefronts, become a public company, or want to secure a lot of outside funding. Corporations provide you the most personal liability protection out of the three legal structures. However, you will need to pay federal corporate tax on top of personal income tax. Corporations are also expensive to form and require you to keep detailed business records.

Organize Your Finances

No matter which legal structure you choose, getting your finances in order is a crucial step. This involves opening a business checking account to separate your personal and business finances right from the beginning. Having two separate accounts makes it easier to monitor your business’ cash flow and track expenses accurately and will make the process of filing taxes much easier.

Chase is a great banking solution for retailers because it offers small business checking, business credit cards, and merchant services―payment processing―so business owners can manage all their cash flow in one place. Plus, Chase offers competitive rates and great customer service. Contact Chase to learn more about its small business retail solutions.

Learn more about the best small business checking accounts .

4. Select a Storefront

Choosing a storefront is a critical step that needs to be considered carefully. The location you select can all but make or break your business. The decision can seem overwhelming. So, start by narrowing down a geographic location. You’ll be spending long hours at your consignment shop nearly every day when you first open. Think about how far you are realistically willing to commute and choose areas that are accessible from your home easily.

Spend time in each area to become familiar with specific neighborhood demographics and preferences and scope out other local businesses. There are many factors that go into choosing the right location for your business, but it all comes down to picking the location that will attract the most customers.

A woman looking at a storefront.

Choose a storefront that gets a lot of foot traffic for increased sales and visibility.

Determining foot traffic can help you figure out how many walk-in customers you can expect in each location. In addition to staking out your prospective storefront locations, ask other local business owners questions about the traffic, shopper demographics, and neighborhood.

Additionally, consider details such as parking and signage. A Main Street location is ideal, but only if your customers can park near your store easily. Likewise, you’ll want a location that allows for a big storefront sign. Some locations have strict rules about the sizes and types of signage they allow.

Showing a map of used clothing store buffalo exchange locations across the US.

Used clothing store Buffalo Exchange has several locations across the US. Many of the stores have been strategically placed in college towns where they have a steady stream of supply and demand from students. (Source: Buffalo Exchange)

5. Acquire Merchandise

Finding merchandise to sell at your consignment shop is trickier than sourcing products for traditional retailers . You’ll want to have a buying strategy in place before you open to ensure a steady stream of products to sell. You’ll probably use a combination of tactics to keep your store stocked.

Popular secondhand product sourcing strategies include:

  • Joining the Association of Resale Professionals (NARTS) : This professional organization connects resale buyers with suppliers through its directory.
  • Advertising to potential consigners : Advertise in print and online (on social media too!) regularly that you’re purchasing gently used items. Many of your potential shoppers could also be suppliers.
  • Purchasing from flea and thrift shops : You can find some great deals on products to sell in your store by searching through flea markets and other thrift stores.
  • Finding an off-price supplier : Off-price products aren’t secondhand, but they’re deeply discounted products that are either overstock or slightly damaged. You can find them through trade shows.

6. Design & Outfit Your Consignment Store

After securing a storefront and finding product sources, it’s time to start strategically planning your store layout . Your store layout has a dramatic impact on in-store sales. A well-designed layout will welcome shoppers, make them feel comfortable, and direct them toward specific products.

The first thing you need to decide is what type of floor plan you want. Most retail stores fit into one of three basic layout categories:

  • Loop or racetrack : Best for specialty stores, showrooms, and retailers that want to lead shoppers on a specific path throughout the store.
  • Grid or straight : This floor plan is exactly what you would expect: straight, angular aisles that are typically found in grocery and box stores. A consignment bookstore may also follow this model.
  • Free flow plan : This is a popular plan for boutiques and allows for lots of creativity in the design process. Most apparel or decor consignment shops will follow this model.

Finally, you will need to position your checkout counter. A well-positioned checkout will open up floor space for displaying products and encourage shoppers to move through more of your store. As a rule of thumb, try to position your checkout on the left-hand side of your store.

Shoppers naturally veer toward the right side of a store, so that’s where you want to display your best products. Some department stores and larger mall retailers place their checkout counters at the back of the store. However, for smaller retailers, placing your checkout toward the front makes it easier for staff to attend the register and keep an eye on the entrance.

Select a POS System

Point-of-sale (POS) systems are cloud-based software programs that replace traditional cash registers and offer additional tools such as inventory management, sales reports, and customer data and marketing. Your POS system is the central hub for your business where you process all transactions. Look for a system that has all the features you need, including payment processing, for an affordable rate.

Showing Lightspeed Retail POS hardware.

Lightspeed Retail POS simplifies the process of running a retail store. (Source: Lightspeed Retail)

Some of the criteria we use to evaluate the best POS systems include:

  • Price : Most POS software programs charge a monthly fee, and some also charge extra for certain features.
  • Ease of use : Test out each POS with a free demo or trial to make sure the interface is easy to navigate, and also read user reviews.
  • Customer management tools : Almost all POS systems have a customer directory feature but, otherwise, they vary greatly in what loyalty, marketing, and customer feedback features are included.
  • Sales reports : Each type of POS solution will have some kind of reporting tools, but some offer more details and features to create custom reports.

For brick-and-mortar stores, we often recommend Lightspeed. It’s a small business POS with big-business functionality such as custom report builders, detailed inventory tracking, a loyalty program, and built-in payment processing. Plus, it has built-in capabilities to handle consignment products. Visit Lightspeed for a 14-day free trial.

Visit Lightspeed

7. Advertise Your Consignment Shop

Before opening your consignment shop, you’ll need to start advertising and marketing your retail shop . Because you’re on a budget, make sure your strategy is effective by choosing a combination of online and offline marketing efforts.

  • Social Media
  • Search Engine Optimization (SEO)

In order for customers to find your business, you’ll want to have a website. Creating your own website from scratch can be easy with the right tools. There are many easy ways to make a business website for little or no cost. You need a registered domain and a web hosting service.

Showing Olive My Stuff, a consignment shop page.

Olive My Stuff, a consignment shop in Connecticut, has a professional website with information on shopping and consigning.

Create social media accounts on channels like Facebook, Instagram, and TikTok to promote your brand and consignment items. You can even sell your secondhand goods on Facebook as well as sell them on Instagram directly. Run paid social ads targeting people who fit your target market in your local area.

Focusing on your SEO strategy is an excellent way to put your consignment shop in front of people who may not have otherwise heard about you. Local SEO , in particular, can help you increase your visibility for local searches. This is an excellent marketing tactic because users searching for “consignment shop near me” are likely high intent.

  • Store Signage
  • Window Displays
  • Customer Loyalty Program

The storefront signage is the first impression shoppers will get from the in-person experience with your consignment shop. Make sure the sign is easily visible and easy to read, while also being reflective of your brand. You want to stand out enough to make passersby curious about what’s inside, especially if you plan to rely heavily on foot traffic. Check out these business sign ideas for inspiration.

While your signage might make the first impression, your window displays have the potential to make the biggest impact. A well-designed storefront with captivating window displays can lure even the most hesitant shoppers into your consignment store. Here are some resources to help you get started:

  • Create a Stunning Store Window Display
  • Visual Merchandising Techniques

Once your consignment shop is up and running, loyalty programs are a great way to encourage repeat customers and higher transaction amounts. Simple punch cards can be effective. However, using a loyalty program that’s tied in with your POS system offers deeper insights like who is using the program and how effective it is. Lightspeed  offers a sophisticated loyalty program that you can add onto Lightspeed POS for a monthly fee.

8. Hire & Train Employees

Last but certainly not least, before opening your store to the public you need to bring on a stellar group of employees to serve as the front lines of your business. If you haven’t hired an employee before, navigating the process can be intimidating. Follow a new hire checklist that outlines all of the gritty steps you need to take such as obtaining an employer identification number (EIN), registering for state and local taxes, and so on.

As a consignment store owner, it’s likely you won’t have a dedicated human resources (HR) team member. Using an affordable solution like Homebase can save you plenty of time and stress by simplifying hiring, employee scheduling, time tracking, and payroll.

Visit Homebase

Training Your Employees

You’ll want your consignment store staff ready to provide top-notch customer service from the moment you open your business. Providing great customer service is a skill that requires practice. If you don’t start training your employees before you open, they’ll be practicing their service skills on your customers.

Instead, hold a weeklong training boot camp before you open. In addition to running through customer service scenarios and role-playing, teach employees about store policies and procedures, the items you’re selling, and any other pertinent information.

9. Plan & Launch Your Grand Opening

Hosting a grand opening celebration is a great way to kick off your new business venture while also gaining some press coverage. To have maximum attendance, recruit friends and family, draft a press release for local media and surrounding businesses, make a Facebook event, notify your local Chamber of Commerce, and take an advertisement out in the local paper.

“One mistake a lot of companies make is staying under the radar until launch. If no one knows what you’re doing and when you’re opening, then you have zero chance of making any sales. Start building some excitement at least six weeks before your launch. Get active on social channels. Interact with likely customers and get the conversation started. Build anticipation with enticing photos, and maybe even incentivize purchases in those early days.” ― Deanna Thompson, Blogger, Closet Full of Cash

Showing an open sign board.

Plan a grand opening to celebrate the launch of your new business.

How to Start a Consignment Shop Frequently Asked Questions (FAQs)

Opening and running a consignment shop can be a tricky business.

What is a consignment shop?

A consignment shop is a store that sells secondhand items, typically clothing and accessories. Consignment stores purchase gently used goods and resell them at a markup to make a profit.

How does a consignment shop work?

As the owner of the consignment shop, you will purchase secondhand goods from customers, professional suppliers, flea market vendors, and so on, and own those items until they are resold in your store for a higher price.

How much does it cost to open a consignment store?

The exact price can vary a lot depending on your location and local real estate prices. However, opening a consignment store will cost roughly $10,000.

Why do consignment stores fail?

Part of learning how to start a consignment shop is figuring out what not to do. There are many reasons a consignment shop could fail. Common reasons include choosing the wrong storefront location, not having in-demand products, too-small profit margins, and insufficient marketing.

Bottom Line

Consignment shops are a great business idea for making money in 2022. More than 20,000 US-based used merchandise stores have a combined annual revenue of $17.6 billion , according to First Research. And these numbers continue to grow, especially as the world becomes more aware of the environmental challenges consumerism brings.

Starting a consignment shop is an excellent way to promote sustainable consumerism while also making a profit. And with the market growing the way it is, there’s plenty of opportunity for consignment shops of all kinds. There’s never been a better time to start a consignment business of your own.

About the Author

Meaghan Brophy

Find Meaghan On LinkedIn Twitter

Meaghan Brophy

Meaghan Brophy is a Retail Expert at Fit Small Business focusing on small business retail and ecommerce content. Meaghan’s 10+ years of retail experience includes working at local book and dance supply stores, handcrafting gifts at an eco-friendly manufacturer, developing private label brands, and managing a team of more than 40 sales and service professionals at a local spa.

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How to write a business plan for a consignment store?

consignment store business plan

Putting together a business plan for a consignment store can be daunting - especially if you're creating a business for the first time - but with this comprehensive guide, you'll have the necessary tools to do it confidently.

We will explore why writing one is so important in both starting up and growing an existing consignment store, as well as what should go into making an effective plan - from its structure to content - and what tools can be used to streamline the process and avoid errors.

Without further ado, let us begin!

In this guide:

Why write a business plan for a consignment store?

What information is needed to create a business plan for a consignment store.

  • How do I build a financial forecast for a consignment store?

The written part of a consignment store business plan

  • What tool should I use to write my consignment store business plan?

Having a clear understanding of why you want to write a business plan for your consignment store will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a consignment store business plan.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your consignment store is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your consignment store, you'll have to:

  • Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
  • Determine the pace at which the business needs to progress to meet its objectives as scheduled,
  • Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To get visibility on future cash flows

If your small consignment store runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your consignment store's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your consignment store business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your consignment store's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your consignment store.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your consignment store and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your consignment store's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your consignment store, let's explore what information is required to create a compelling plan.

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Writing a consignment store business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a consignment store

Before you begin writing your business plan for a consignment store, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your consignment store.

You could discover that customers may be interested in purchasing more luxury items, such as designer handbags or high-end jewelry. Additionally, market research might suggest that shoppers might be interested in consignment items with a more sustainable or ethical origin, such as vintage items or upcycled items.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your consignment store.

Consignment shop business plan: successful entrepreneurs

Developing the marketing plan for a consignment store

Before delving into your consignment store business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of a consignment store

As you embark on starting or expanding your consignment store, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

A consignment store might incur staffing costs such as salaries for employees, benefits, and payroll taxes. They might also need to purchase equipment such as point-of-sale systems, shelving, and display cases. Other costs such as advertising and insurance will also need to be taken into account.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your consignment store's financial forecast?

The objective of the financial forecast of your consignment store's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a consignment store are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

Your consignment store forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

forecasted profit and loss statement in a consignment store business plan

Ideally, your reader will want to see:

  • Growth above the inflation level
  • Expanding profit margins
  • Positive net profit throughout the plan

Expectations for an established consignment store will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The forecasted balance sheet of your consignment store

The projected balance sheet of your consignment store will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

  • Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
  • Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

projected balance sheet in a consignment store business plan example

Analysing your consignment store projected balance sheet provides an understanding of your consignment store's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your consignment store's liquidity and solvency:

  • A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
  • A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your consignment store has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your consignment store business plan.

example of projected cash flow forecast in a consignment store business plan

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

  • Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
  • Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
  • Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your consignment store business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a consignment store.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

initial financing plan in a consignment store business plan

Having this table helps understand what costs are involved in setting up the consignment store, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a consignment store business plan is understood, let's focus on what goes into the written part of the plan.

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The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a consignment store business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your consignment store's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your consignment store's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

The second section in your consignment store's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your consignment store, you could emphasize the potential to draw customers from a wide area. It may be situated in an area with a growing population and could benefit from its proximity to a major highway or transportation hub. Additionally, you could highlight the potential to attract customers from a diverse range of backgrounds, as the location may be close to a variety of attractions and amenities, such as restaurants, retail stores, and other popular destinations.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your consignment store might offer customers a wide selection of gently used apparel and footwear, an online shop to browse through inventory, and a layaway program to help customers purchase items they may not be able to afford upfront. These services would give customers access to quality items at discounted prices, while also providing convenience and flexibility in paying for their purchases.

consignment store business plan: products and services section

4. The market analysis

When presenting your market analysis in your consignment store business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.

The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.

You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your consignment store, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.

The target market section should follow and zoom on the customer segments your consignment store is targeting, and explain how your products and services meet the specific needs of these customers.

For example, your target market might include budget-conscious buyers who are interested in sustainable fashion. These buyers are looking to buy second-hand clothing items, as well as unique vintage pieces that are still in style. They are willing to put in the time to find the perfect item, as they understand the value of thrifting and the environmental impact of buying used clothing.

Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.

Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your consignment store.

5. The strategy section

When you write the strategy section of your consignment store business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.

The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.

Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.

For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.

Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.

Your consignment store may face financial risks, such as not being able to cover operational costs or having to take out loans to sustain the business. You could also face reputational risks, such as negative word of mouth or negative reviews online, which may lead to a decrease in customers and revenue.

6. The operations section

The operations of your consignment store must be presented in detail in your business plan.

Begin by addressing your staff, specifying the main roles and your recruitment plan to support the anticipated growth. Outline the qualifications and experience needed for each role and discuss your recruitment strategies, which may involve using job boards, referrals, or headhunters.

Next, clearly state your consignment store's operating hours, allowing the reader to gauge the adequacy of your staffing levels. Additionally, mention any considerations for varying opening times during peak seasons and your approach to handling customer queries outside regular operating hours.

The key assets and intellectual property (IP) required to run your business should also be highlighted. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, ensure they are well-documented in this section.

You may have key assets such as the physical store itself, as well as any branded merchandise that you might receive from consignors. Additionally, you could have intellectual property such as the consignment store's name or logo, as well as any trademarks associated with the merchandise you receive.

Finally, provide a comprehensive list of suppliers you intend to collaborate with, along with a breakdown of their services and main commercial terms, such as price, payment terms, break clauses and contract duration. Investors often seek insight into the reasons behind your supplier choices, which may include a preference for higher-quality products or established relationships from past ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a consignment store business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my consignment store's business plan?

In this section, we will be reviewing the two main options for writing a consignment store business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your consignment store's business plan

Using online business planning software is the most efficient and modern way to create a consignment store business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Screenshot from The Business Plan Shop's Financial Forecasting Software

Hiring a business plan writer to write your consignment store's business plan

Outsourcing your consignment store business plan to a business plan writer can also be a viable option.

Business plan writers are skilled in creating error-free business plans and accurate financial forecasts. Moreover, hiring a consultant can save you valuable time, allowing you to focus on day-to-day business operations.

However, it's essential to be aware that hiring business plan writers will be expensive, as you're not only paying for their time but also the software they use and their profit margin.

Based on experience, you should budget at least £1.5k ($2.0k) excluding tax for a comprehensive business plan, and more if you require changes after initial discussions with lenders or investors.

Also, exercise caution when seeking investment. Investors prefer their funds to be directed towards business growth rather than spent on consulting fees. Therefore, the amount you spend on business plan writing services and other consulting services should be insignificant compared to the amount raised.

Keep in mind that one drawback is that you usually don't own the business plan itself; you only receive the output, while the actual document is saved in the consultant's business planning software. This can make it challenging to update the document without retaining the consultant's services.

For these reasons, carefully consider outsourcing your consignment store business plan to a business plan writer, weighing the advantages and disadvantages of seeking outside assistance.

Why not create your consignment store's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a consignment store business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my consignment store business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

  • Word processors don't include instructions and examples for each part of your business plan
  • Word processors don't update your numbers automatically when they change in your forecast
  • Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a consignment store business plan for some entrepreneurs, it is by far not the best or most efficient solution.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your consignment store and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your consignment store business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a consignment store? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Consignment Shop

Back to All Business Ideas

How to Start a Consignment Shop

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on May 31, 2022 Updated on February 14, 2024

How to Start a Consignment Shop

Investment range

$2,550 - $13,100

Revenue potential

$156,000 - $468,000 p.a.

Time to build

0 – 3 months

Profit potential

$62,000 - $187,000 p.a.

Industry trend

It may be hard to believe, but second-hand clothing is one of the world’s fastest-growing industries. The market is expanding a stunning 25% each year, which means right now is a great time to start your own consignment shop and ride this train to success. 

But before you hang your “OPEN” sign, you’ll need to learn how to launch and run a business. Luckily, this step-by-step guide has you covered with all the information you’ll need to open your new consignment shop. 

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

In a nutshell, consignment shops get paid for selling other people’s stuff. People bring in unwanted shoes and clothing, antiques and household goods, and the shop sells them for an agreed-upon price and takes a commission, usually about 50%.

Still, starting a consignment shop has pros and cons to consider before deciding if it’s right for you.

  • Business Model Options – Choose a physical or online consignment shop
  • Good Margins – Pay nothing for inventory until it sells; get half the sale price
  • Hot Market – Demand for vintage and second-hand clothing is rising
  • Delayed Opening – Build up inventory before the store opens
  • Crowded Market – A hot market means lots of competition

Consignment industry trends

Industry size and growth.

  • Industry size and past growth – The global second-hand clothing industry is worth $119 billion, up 24% from 2021.(( https://www.thredup.com/resale/#size-and-impact ))
  • Growth forecast – The global second-hand clothing industry is projected to nearly double by 2026 to reach $218 billion. 

consignment industry size and growth

Trends and challenges

Trends in the consignment shop industry include:

  • Online clothing resale is the fastest-growing market segment, expected to quadruple by 2026.
  • In 2021, 244 million US consumers said they were open to buying second-hand clothing.

Challenges in the consignment shop industry include:

  • A growing number of players in the online consignment store market are creating greater competition.
  • Generally only brand name clothing is sold in consignment shops, which means shop owners have to watch out for knock-offs. 

consignment shop Trends and Challenges

How much does it cost to start a consignment shop business?

Starting an online consignment shop will cost about $2,500. Your costs will be for a website and marketing costs. Starting a brick-and-mortar consignment shop will cost about $13,000.

How much can you earn from a consignment shop business?

Prices for consignment items will vary. Since you’ll be looking for high-end items to sell, these calculations will assume an average item price of $300, of which you’ll get 50%. If you’re running an online consignment store, your profit margin after marketing costs and paying the consignor will be about 40%. 

In your first year or two, you could sell 10 items a week, bringing in $156,000 in annual revenue. This would mean $62,000 in profit, assuming that 40% margin. As your website gets more traffic, sales could climb to 30 items a week. With annual revenue of $468,000, you’d make an outstanding profit of $187,000.

consignment shop earnings forecast

What barriers to entry are there?

The only barrier to entry for a consignment shop is the competition you’ll face.

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Step 2: hone your idea.

Now that you know what’s involved in starting a consignment shop, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research consignment shops in your area and online to examine their products, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the market is missing a consignment store that sells furniture and household items.

sample business plan for consignment shop

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as luxury brands or high-end accessories.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your products

You’ll need to determine if you want to specialize in clothing or some other type of merchandise. In addition to consignment items, you could also operate in part as a thrift store or online thrift store and sell donated items or items you find at garage sales. You could also have a retail store in your shop where you sell items that you’ve purchased wholesale. 

How much should you charge for consignment items?

Prices will vary based on the item and its retail price. For an online store, after the cost of paying consignors and marketing, you should aim for a profit margin of about 40%.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will be broad, so you should spread out your marketing to include sites like TikTok, Instagram, and Facebook. 

Where? Choose your consignment shop location

Choosing the right location for your consignment shop is crucial for attracting customers and ensuring its success. Look for a spot in a high-traffic area with good visibility, such as a popular shopping district or a busy downtown area.

Consider accessibility and convenience, ensuring that the location is easily reachable by public transportation and has ample parking. Additionally, assess the local demographics and aim to select a location that caters to a wide range of customers. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

  • Central location accessible via public transport
  • Ventilated and spacious, with good natural light
  • Flexible lease that can be extended as your business grows
  • Ready-to-use space with no major renovations or repairs needed

consignment shop idea rating

Step 3: Brainstorm a Consignment Shop Name

Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.

Here are some ideas for brainstorming your business name:

  • Short, unique, and catchy names tend to stand out
  • Names that are easy to say and spell tend to do better 
  • Name should be relevant to your product or service offerings
  • Ask around — family, friends, colleagues, social media — for suggestions
  • Including keywords, such as “consignment shop”, boosts SEO
  • Name should allow for expansion, for ex: “Renewed Treasures” over “Sports Gear Consignment Shop”
  • Avoid location-based names that might hinder future expansion

Discover over 260 unique consignment shop name ideas here . If you want your business name to include specific keywords, you can also use our consignment shop business name generator. Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

Powered by GoDaddy.com

Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Consignment Shop Business Plan

Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:

  • Executive Summary: A brief overview of your consignment shop business, highlighting key points such as the business concept, goals, and potential for success.
  • Business Overview: Detailed information about your consignment shop, including its mission, vision, location, legal structure, and any notable achievements or milestones.
  • Product and Services: Description of the items your consignment shop will accept and sell, emphasizing the quality, uniqueness, and appeal of the products.
  • Market Analysis: Examination of the target market for your consignment shop, including demographics, trends, and potential growth opportunities.
  • Competitive Analysis: Evaluation of other consignment shops or similar businesses in the area, identifying strengths and weaknesses to position your shop effectively.
  • Sales and Marketing: Strategies for promoting your consignment shop, attracting customers, and driving sales, encompassing both online and offline channels.
  • Management Team: Introduction of key individuals involved in running the consignment shop, highlighting their expertise and roles.
  • Operations Plan: Details on the day-to-day operations of your consignment shop, covering aspects such as inventory management, staffing, and customer service.
  • Financial Plan: Projections and analyses of the financial aspects of your consignment shop, including startup costs, revenue forecasts, and break-even analysis.
  • Appendix: Additional supporting documents, such as resumes of key team members, detailed market research data, and any other supplementary information relevant to the business plan.

what to include in a business plan

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to consignment shops. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your consignment shop will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

  • Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
  • General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
  • Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
  • C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
  • S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

types of business structures

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2023

sample business plan for consignment shop

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

sample business plan for consignment shop

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

  • Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
  • SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
  • Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
  • Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
  • Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
  • Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a consignment shop business. You might also try crowdfunding if you have an innovative concept. 

types of business financing

Step 8: Apply for Consignment Shop Business Licenses and Permits

Starting a consignment shop business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your consignment shop business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account. 

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

  • General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
  • Business Property: Provides coverage for your equipment and supplies.
  • Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
  • Worker’s compensation: Provides compensation to employees injured on the job.
  • Property: Covers your physical space, whether it is a cart, storefront, or office.
  • Commercial auto: Protection for your company-owned vehicle.
  • Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
  • Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

types of business insurance

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. 

You may want to use industry-specific software, such as ConsignPro , resaleworld , or SimpleConsign , to manage your inventory, billing, and payments. 

  • Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
  • If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

For your consignment shop, the strategy should focus on highlighting the unique, ever-changing selection of items you offer, the affordability and sustainability of shopping second-hand, and the personalized shopping experience. Here are some powerful marketing strategies for your future business:

Kickstart Marketing

  • Professional Branding : Your branding should reflect the eclectic, unique nature of your shop, conveying a sense of discovery and sustainability. This could be reflected in everything from your logo and storefront to your online presence.
  • Direct Outreach : Connect with local communities, fashion bloggers, and sustainability advocates to increase awareness about your shop.

Digital Presence and Online Marketing

  • Professional Website and SEO : Create an engaging website showcasing your latest finds, store events, and customer testimonials. Implement SEO best practices to optimize your site for local consignment, thrift shopping, and sustainable fashion searches.
  • Social Media Engagement : Use platforms like Instagram, Facebook, and Pinterest to regularly post about new arrivals, fashion inspiration, and sustainable shopping tips.

Content Marketing and Engagement

  • Fashion and Sustainability Blog : Share blog posts about fashion trends, upcycling tips, and the benefits of consignment shopping.
  • Customer Features and Success Stories : Highlight satisfied customers, especially those who found unique items or put together stylish outfits from your shop.
  • Style Guides and Lookbooks : Create seasonal lookbooks or style guides using items from your shop to inspire customers.

Experiential and In-Person Engagements

  • In-Store Events : Host themed shopping events, styling workshops, or local artist pop-ups to draw people into your store.
  • Participation in Community Events : Engage in local street fairs, fashion shows, or community markets to increase visibility and reach a wider audience.

Collaborations and Community

  • Partnerships with Local Designers and Artisans : Feature local designers or artisans in your shop, providing a platform for local talent and unique products for your customers.
  • Community Involvement : Participate in or sponsor local environmental and community events to align your shop with sustainability and community values.

Customer Relationship and Loyalty Programs

  • Loyalty Rewards : Implement a loyalty program that offers discounts or special privileges to repeat customers.
  • Consignment Incentives : Encourage more consignments by offering incentives or better terms to frequent consignors.

Promotions and Advertising

  • Targeted Local Advertising : Use local newspapers, community bulletin boards, and online platforms to reach potential customers in your area.
  • Email Marketing : Keep your customers engaged with regular newsletters featuring new inventory, fashion tips, and upcoming events.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your consignment shop meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your consignment shop business could be:

  • Luxury brands at non-luxury prices 
  • Top quality consignment and thrift items shipped fast!
  • Sell your unwanted collectibles and make good money

unique selling proposition

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a consignment shop business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in consignment shops for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in consignment shops. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a consignment shop business include:

  • Shop Clerks – make sales, customer service
  • General Manager – inventory management, accounting
  • Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Run a Consignment Shop – Start Making Money!

The consignment market is heating up, with resale clothing and accessories experiencing boom times. Now is the perfect time to open your own consignment shop. If you have a great eye for fashion and a desire to provide customers with great products, you could build a lucrative consignment operation.

You’re done your business homework now, so it’s time to get the word out and launch your successful consignment shop. 

  • Consignment Shop Business FAQs

Yes, consignment can be a very profitable business. The market for resale clothing is growing rapidly, so demand for the items you sell should be high.

Consignment shops get a percentage of the sale price of the consigned items. The fee ranges from 40% to 60% for clothing and accessory sales. Fees can be higher for items like furniture.

The main risks are the items being damaged or stolen. Then you could be liable to the owners of the items.

You’ll need to train them on how to value consignment items. Then you’ll need to monitor the transactions they make to ensure that the prices are accurate.

You’ll need to create a strategic plan for how to market your shop, and how you’ll handle the business as your sales increase. 

The bottom line is most important. You need to be able to make enough profit to make a living.

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  • Decide if the Business Is Right for You
  • Hone Your Idea
  • Brainstorm a Consignment Shop Name
  • Create a Consignment Shop Business Plan
  • Register Your Business
  • Register for Taxes
  • Fund your Business
  • Apply for Consignment Shop Business Licenses and Permits
  • Open a Business Bank Account
  • Get Business Insurance
  • Prepare to Launch
  • Build Your Team
  • Run a Consignment Shop - Start Making Money!

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Thrift Store Business Plan Sample

AUG.23, 2018

Thrift Store Business Plan Sample

Do you want to start thrift store business?

Do you want to start a thrift store? Well, if you want to start a business whose startup costs will be run over by the profits earned in the very few months, helping the underprivileged side by side, then this is undoubtedly the most suitable business for you.

A thrift store resembles opening a second hand store , in which you can keep used clothes, books, furniture, crockery or whatever you want, and sell them in relatively low prices. The thrift store owners gather the items by the rich community, which are in a position to be used again, and keep them in their stores.

Just like every other business, the first thing before starting a consignment shop is to make a business plan for thrift store , adding all the details and decisions about how will you manage to collect the items, how many persons will be required, which will be the most suitable location etc. As you might be starting this business without experience, you will be in need of a help regarding writing an professional business planning . You can take help from this s thrift store business plan sample  free of cost written for a thrift store startup named, ‘City Thrift Store’.

Executive Summary

2.1 the business.

City Thrift Store will be owned by Jude Daylon, who is a graduate from Harvard University. City Thrift Store will be located on Howard Street, one of the bustling streets of San Francisco. The business plan for thrift store is aimed to gather the used items which are in a condition to be used again and sell them at economical prices. The variety and number of the used items depend upon how vast do you want your business to expand. City Thrift Store is aimed to keep used clothes, books, toys, musical instruments, furniture items, small electronic instruments at the store with appealing presentation all the time.

2.2 Management

Management is the primary footstep on which the whole thrift store business stands. This business will require extraordinary management skills to make sure that the stock of items is available in the store every time and is displayed in the appealing way.

Jude has many unique thrift store marketing ideas , and he will act upon all by being the manager himself. Before starting a consignment shop business , Jude has planned all the policies and possible mechanisms for the smooth running of the store. He has hired a number of drivers and social workers to collect the items by roving in the whole San Francisco, which is a necessity to start a second hand store .

2.3 Customers

Our target market will be the residents who can’t afford expensive things and have relatively low income than the other citizens. Moreover, the people who are travelers, tourists, or students and want to buy reasonable but good quality goods for temporary use will also be our potential customers.

2.4 Business Target

We aim at becoming the most visited thrift store in the whole San Francisco. We aim at stabilizing our business plan for thrift store and balancing the initial startup costs with earned profits by the end of the first year.

The business targets and the profits as forecasted by our experts for the next three years are demonstrated in the following graph:

Thrift Store Business Plan - 3 Years Profit Forecast

Company Summary

3.1 company owner.

City Thrift Store will be owned by Jude Daylon. Jude is a graduate and has been working as a senior manager in a prestigious restaurant for four years. Jude has done a lot of research on how to start a second hand store  and is passionate enough to help the underprivileged. He wants to start a trusted thrift store by collecting used products from the wealthier community.

3.2 Why the business is being started

San Francisco is the city, which is suffering from highest levels of income inequality. The difference of the income can be demonstrated by the fact that the city is divided in two groups of rich and poor, and the category being called as rich is the one which has 11 times income than that of the poor. An estimate shows that one out of ten families in the Bay Area are struggling to hardly make both ends meet.

Besides that, the rich community dispose of many things which are in usable or sometimes good state just because they get bored. Such people want someone to take away donations of clothes and other things from them and give to the poor, by usually putting them outside of their houses. So, Jude has decided to help the low-income and average households of his city by gathering those items and running a consignment shop .

3.3 How the business will be started

Don’t do the mistake of opening a consignment shop , without efficient planning. You will need the persons to load the luggage onto the vehicles and display them in different sections in the store. Jude has planned to make separate and arranged sections of the products so that customers can easily buy them. Jude has arranged the vehicles for loading the used items, he has made a list of the staff he will require to hire, moreover, he will also hire some good speakers to raise awareness among the wealthy to donate the things they don’t need.

If you are going to enter this venture you have to collect many things before starting the shop. But, this all can be done only by accurate planning. If you are new to the business plan for thrift store , you can take help from opening a consignment store ideas and plans available on the web like this one free of cost.

The financial experts have forecasted following costs for expenses, assets, investment, and loans for the startup.

Thrift Store Business Plan - Startup Cost

Services for customers

If you are thinking about starting a second hand store , you must decide the things you will keep in your store. A thrift store can contain anything which can prove useful for the people. In case, you are a beginner in this business and don’t know much about how to open a second hand store , you can take help from this thrift store business plan sample of City Thrift Store. This sample business plan will not only guide you in opening the store but will also assist you by explaining how to run a consignment store successfully.

The City Thrift Store has hired skilled repairers to repair any type of damages to the second-hand objects and make them reusable. Our store will sell the following items.

  • Furniture: We’ll clean and polish the furniture items such as wooden tables, chairs, cradles, old rugs and carpets, cupboards, etc. which are in a reusable condition and sell them to at very low and economical prices.
  • Clothes, Shoes & Books: The reusable books, shoes, fashion accessories, and clothes like dress shirts, sweaters, jackets etc. will also be kept at the store to be purchased by the low-incomes.
  • Small Electronic Devices: We will also sell the technology products and small electronics such as cell phones, microwaves, printers, mobile and computer accessories, storage devices and much more than that.
  • Sports Equipment & Musical Instruments: This type of inventory is often found in the solely new condition as people after getting bored put their guitars, pianos, rackets, footballs and the things like that outside their house to be taken by someone, so we have decided to keep such reusable things in our shop.
  • Miscellaneous: Besides the above-mentioned necessities of living, we will also keep the miscellaneous items like crockery, decoration pieces, baskets, plastic products etc.

Marketing Analysis of thrift store business

The most significant component of a thrift store business plan is its precise and accurate marketing analysis. Marketing analysis will help you to understand the position and demand of this business plan for thrift store in the latest market. It is important as it can help you in finding the most suitable location for your store. The location which will be frequently visited by your target customers and your donors. Your consignment shop business plan  must also include the strategies and policies you’ll adapt to market your services and how effectively can you gain and maintain your potential donors.

So, if you have any doubts and confusions regarding how to start a consignment shop business , you can take help from the thrift store business plans available online, you can also take help from this thrift store business plan sample  for City Thrift Store. You can also have the opportunity of downloading business plan for thrift store pdf from the web. No matter, how many business plans you read before writing yours, that cannot be equivalent to a single consignment store business plan  written by a professional marketing analyst. It would be better for you to seek the services of a professional to make for you a thrift store business plan template . A professional can better understand the marketing trends and do accurate marketing analysis and segmentation of your location before making a thrift store business model  for you.

5.1 Market Trends

Due to the rising economic inequality in the city and financial stress on the underprivileged and the average, people are now trying to cut their discretionary spending and are fascinated towards the idea of buying second-hand things on reasonable prices. The industry of selling used goods is growing at a noticeable rate of 2.6% annually. According to IBISWorld, there are about 84,037 such businesses running in the United States, employing more than 267 thousand people in the whole country. No matter, how many businesses of thrift store are currently running in the country, there is still demand of more in some areas, like the one for City Thrift Store.

If you are thinking that how can you generate a profit by selling the goods at almost no prices, whereby you have to bear the expenses of the staff you hire, don’t worry current report by IBISWorld has shown that this business has generated $20 billion at an annual rate.

These statics shows that you can also earn a massive profit besides helping people, provided that you plan your business plan for thrift store successfully.

5.2 Marketing Segmentation

Our customers will be the people with average financial background. Most people living in the Bay Area of San Francisco do not have enough incomes to meet their expenses in a rich city. These people lust for the items like clothes, furniture etc. and are convenient in buying used items. It is also a requirement of this business to attract notable and rich people for maximizing our donations, they will not be our customers, they will be our need. We’ll arrange seminars and advertise the need of their donations through social media.

Thrift Store Business Plan - Market Segmentation

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Moneyless Senior Citizens: According to a report by City Performance Scorecards, more than 15 thousand senior citizens are living below the poverty level in San Francisco. The health and age of such people don’t allow them to meet their needs by hard work.

5.2.2 Underprivileged Children, Teens & Adults: There are many children and teens in the city who desire to buy good clothes, tech-based things, or sports equipment and musical instruments, but the reality is that most of their desires remain unfulfilled due to the costs of such items. Moreover, about 61 thousand young and adults are living below the poverty level in San Francisco, according to the same report. So, our marketing analyst has identified this as our largest target group in buying used goods.

5.2.3 Tourists & Students: There are often situations when you are roaming in another country, but due to wrong estimates, become out of budget. So, the tourists or students who have to cut their discretionary needs, temporarily, will also be one of our target groups.

5.3 Business Target

We aim at serving more and more needy and average people of our city to help them in raising their status and spirits. Our aim is to become the most visited thrift store in our city and the most trusted thrift store in the eyes of donors. We also aim to balance the initial startup costs with the profit earned in only a few months after the launch.

5.4 Product Pricing

Our main target is to serve the underprivileged community of the city, but, due to requirements of staff, wages of employees, costs of inventory, and expenses of transportation, we can’t sell the items totally free of cost. However, we have priced all the items at very meager and low costs to meet the targets of our business plan for thrift store .

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If you are opting for starting a consignment store , you must prepare an effective and detailed business plan first. If you want your business plan to be complete and outstanding than instead of focusing on just how to open a consignment store you should also focus on how to run it successfully and how to pull the traffic to your site. If you are having difficulty about how to start a thrift store business plan, you can take help from this sample business plan for the City Thrift Store.

6.1 Competitive Analysis

Our biggest competitive advantage is the location which we have chosen after a great research and analysis. Our store is located on the main street of San Francisco, which is a street every citizen encounter while travelling in the city, as it connects the residential communities to the offices, institutes and recreational places. When so many people pass by our shop daily, a large number of them will be surely attracted toward our beautiful display through the large sized windows.

Our second competitive advantage is our excellent management system. We’ll collect the item which are in a good condition daily and display them in well-organized separate sections in our stores for the convenience of our buyers. Moreover, we have a quick transport facility for the rich people who want to donate their goods to us in large amounts.

6.2 Sales Strategy

For promoting our sales, we will advertise our store in local magazines, newspapers and social media. We will also distribute our flyers in nearby schools and colleges. We’ll post our banners in well-off residential communities.

6.3 Sales Monthly

Thrift Store Business Plan - Sales Monthly

6.4 Sales Yearly

Thrift Store Business Plan - Sales Yearly

6.5 Sales Forecast

By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.

Thrift Store Business Plan - Unit Sales

Personnel plan

No matter how much you invest your assets on your startup, it is all going to be wasted if you don’t have honest and dedicated workers. Before you open a consignment store , you must make a list of the workers you’ll need to hire. You should train your staff before starting your shop that how to value the needs of customers and help them in finding the best product for them.

If you are searching for how to start a consignment store,  then you can take help from this sample business plan for thrift store in which we have a complete guide on how to run a consignment shop . This thrift store business plan sample will guide you by informing you about the staff Jude will hire for running the City Thrift Store.

7.1 Company Staff

Jude will manage the overall operations and will hire the following people for his assistance.

  • 1 Accountant for maintaining financial and other records
  • 2 Cashiers for selling products and maintaining records
  • 6 Salespersons for organizing the store and its different sections and assisting customers in finding their required item
  • 3 Drivers for collecting products from the whole city every morning
  • 5 Technicians/Workers/Sewers/Menders for repairing and reviving used things
  • 2 Cleaners for maintaining freshness and cleanliness of the store
  • 2 Persons responsible for advertisement of the store

Financial Plan

The first step before starting any business is to make a comprehensive business plan, and the most important part of an effective thrift store business plan is its financial plan. Before you start a consignment shop , you must collect a lot of items to keep in your store. You can find them free of cost but to be good and distinguished, you should sell these products after reviving them. For managing the costs of their repairs, the rent of your store and the salaries of your employees, you will need money initially. So, in your financial plan, you have to plan the ways of balancing your expenses with the profits earned. Although the business plan for thrift store is in great demand and has is responsible for generating a lot of profit annually, but besides thinking about how to start a consignment shop , you should also think about the worst situations you can face financially.

If you are searching for profit thrift store business plan and need help in writing an effective financial plan, you can take help from this sample business plan for thrift store on how to open a consignment shop . The statics and figures in this sample business plan are for the City Thrift Store, so, it is advised to hire a professional financial planner advisor, who can write for you an accurate financial plan according to your investments and sales.

8.1 Important Assumptions

The company’s financial projections are forecasted on the basis of following assumptions. These assumptions are quite conservative and are also expected to show deviation but to a limited level such that the company’s major financial strategy will not be affected.

  8.2 Brake-even Analysis

The following graph shows the company’s Brake-even Analysis.

Thrift Store Business Plan - Brake-even Analysis

 8.3 Projected Profit and Loss

8.3.1 profit monthly.

The following charts shows detailed information about profit and loss, and total cost of sales.

Thrift Store Business Plan - Profit Monthly

8.3.2 Profit Yearly

Thrift Store Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

Thrift Store Business Plan - Gross Margin Monthly

8.3.4 Gross Margin Yearly

Thrift Store Business Plan - Gross Margin Yearly

8.4 Projected Cash Flow

The following column diagram shows the projected cash flow.

Thrift Store Business Plan - Projected Cash Flow

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ProfitableVenture

Delivery Shop Company Plan [Sample Template]

By: Book Tony Martins Ajaero

Top » Business ideas » Retail Industry » Posting Shop

Are you concerning starting a consignment shop ? For YES, here is a complete sample consignment shop business plan template & profitability report it can use for FREE .

AMPERE Consignment Shop is a name given to a business location fairly used or second hand goods are sold. ONE consignment shop is a business you can start with little or not capital because to just needs goods from individuals who does don required them and then sell to people that must them at giveaway price.

Just as we already know, pretty used products are highly affordable and distance cheaper than make new items, whose is why the consignment sector of the retail industry will continue till flourish. It is plus important to note that of consignment sector is not capital intensive. Like business is a business you can achieve from the comfort of your home and earn a substantive total. Consignment Our Business Plan [Sample Template] - ProfitableVenture

A Sample Consignment Shop Business Plan Template

1. industry overview.

The consignment sector of the retail choose can been able to capitalize on the recession, but its performance has lived with of recovering economy. Also an rising unemployment rates have instigated or cause a drastically decreasing in pro capita disposable generated levels, moved consumers to reduce their discretionary spending.

It see moved more consumers who customarily shopped at department stores go turn towards the sector to purchase cheaper used goods instead of new products. But it has been estimated that that the sector generate will fall by general macroeconomic improvements. How into Open a Consignment Shop | ZenBusiness Ink.

Within which then five years, the sector revenue is expected to increase at a slower pace rather the previous five-year period, largely as a result of rising disposable income and competition levels. The consignment shop sector is believed to be in and mature stage of is economic life cycles. How to Write a Business Plan fork a Ship Store

Industry value addition (IVA), which calcutes an industry’s contribution to the overall economy, a expected to rise at an annualized rate of 2.6% during the 10 years on 2022. The demand in is sector is driven by Demographic, consumer income, and consumer tastes. How to Begin a Consignment Shop in 2024

The success of individual companies rested on efficient global and effective merchandising. Bigger organizations in the sector have advantages due to large marketing furthermore finance, still little businesses can compete effectiv by gives specialty products, serving a local market, or providing superior customer service. Which US industry is fragmented: one 50 largest WHAT companies account for about 30% of sales. Nine Lives Outdoors Drive Consignments Shop. Executive Chapter. Nine Lives – An Outdoor Dress & Gear Consignment Shop is a new business in Zhenya, Oregon.

2. Executive Summary

Sports Shops is a new sports consignment business into Honeyleu, Hawaii. This business was founded the becoming be managed with Richard Craig, a retired footballer and shortly the attacking coach with FC Hawaii. Just as they might had guessed, Richard is a well exposed fa and an adept in the sports business. He understands the industry and best way to approach contexts.

We at Soccer shops hope to capitalize upon the vast opportunity and expertise of Richard Kirk up dominate the market, which may contains selection of used items not replicated in the country, superior company service, and reasonable cost. Jan 5, 2020 - Make the documents and spreadsheets your need to manage of shipment shop business plan template, image source: Podcastboom.com

We have been able to secure a suitable location that promotions very ok foot traffic, easy reachability, and good road learning. We hope to work exceedingly hard to establish a business ensure will be the leading figure in the industry plus also satisfying our customers need the demands.

Our Objective among Soccer ship is to establish a retail store whose chief goal is to surpass customer’s expectations, establish a business that will increase the number on clients served by at least 20% per year through supreme show and selection and to reduce extremely its addictive in non-renewable resources through which utilize of reused goods.

3. Our Products and Services

Aforementioned fact that starting a consignment trade may be very simple needs little or no up resources, requires no technical skills furthermore e is a profitable venture makes it one regarding the businesses such a lot for people would want to start hence of high level away competition for the industry.

This can exactly why we by Soccer shop are very careful or zealous, therefore as nope to start losing even before we open our doors. We hope toward sell an vast range of sports and outdoors wheel. We hope into hinzusetzen get items as us grow.

  • Fleece outerwear.
  • Rain sprocket, waterproof as well as coated nylon.
  • Thermal underwear.
  • Synthetic clothing for sports either travel
  • Sleeping bags.
  • Sleeping pads
  • Duffel bags
  • Cookware and stoves, and plenty more

4. Our Mission real Vision Statement

  • Our visibility at Soccer shop is to build a standard ne stop consignment shop in Honolulu, Hawaii – one business that will serve that needs out that people of Hawaii and surrounding states.
  • Our mission toward Soccer ship can to give our customers quality sports and outdoor clothing and gear at affordable rates and rates.
  • My mind set is set to attract and retain our customers.
  • Wee hope to stand by our vision and goals, and also offers auxiliary that want surpass so of unsere competitors.

Our Business-related Structure

SoccerShop just like we already said are a sports consignment shop owned and managed by Richard Gregg. Richard Craig obtained business degree from the eminent University out Hawaii. Richard Craig is also one reached seasoned footballer. Opening a consignment store cans be an excellent business, but before you open your sliding you need to know how to write a business plan for adenine consignment shop. One business plan defines the scope of your business, how you will succeed and see which relevant experience you bring to the new venture.

He started his football career with Honey galaxy futbol club before motion to Nottingham forest in Britannia. He played in more A-list clubs which includes Portsmouth, Arsenal FC, Valencia FC are Spain, Lyon on Finland, before retiring in D. C United. Used Sports Equipment Store Business Plan Example – Bplans

After a successful career that saw him win many trophies, he grow a strong figure in the Hawaii football world. His presently the Strike travel of FC Hawaii. His well known for his help in brings the football gears giants Adidas to Hawaii.

Theirs also a sports business press also grew back administered his mum’s retail stock. All these massive expert and various more not mentioned have instigated Richard Craig for believe your has the skills to manage and run Soccer Shop. We believe stylish his passion for success also his zeal to make Hiwa better and comfortable for its citizens. The consignment shop industry lives growing. little up-front cost or education required, it’s time to thought about opening a subscription shop.

We at Soccer shop can also interested in hiring individuals who are as experienced as Richard Craigslist to get us run our business. We hope until train them from convey them into the business. We hope to train yours on done customer near, goods communication skill and awesome customer service business. We hope in start Soccer Shopping in who following portfolios; It may be hard to believe, but second-hand clothing is ready of the world’s fastest-growing industries. The market is expanding a stunning 25% everyone price, which

  • Chief Executive Officer (Owner)
  • Store General

Merchandize Manager

  • Bargains and Marketing Manager

Information Technologist

  • Accountants / Cashiers

5. Job Roles or Responsibilities

Chief Manager Officer – CEO

  • Is charge of providing direction for the business
  • Creative, communicates, the implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementations of and overall organization’s strategy. Consignment Shop Business Plan Templates Unique Consignment Store Business P… | Business scheme template, Simple business plan template, Startup business plan template
  • In rush of fixing prices and signing business offers
  • In charge of recruitment
  • In charged of payment of wage
  • In charge of character checks and books on sake of the company
  • Evaluates the success of the org

Saved Manager

  • In charge by management of almost activity in of ship
  • Ensures that the memory site is in tip acme shape press conducive enought to greet customers
  • Interfaces with third – party providers (vendors)
  • Controls the sales floor inventory
  • Ensures that goods and products are properly order
  • Supervises the entire sales staff and workforce
  • Any other duty as assigned by the CEO
  • Takes care of vendor relations, marketplace guest, and the ongoing training and development are the organizations’ buying teams
  • Helps to ensure consistent trait of goods and products on willingness rack
  • In charge of an purchase off goods and items for the organizations
  • Stylish charge of planen sales, monitoring inventory, selecting the merchandise, and writing and appraisal orders into vendors
  • Keeps that the organization runs within specifies budget.

Sales and Marketing Manager

  • Takes care of external research and coordinator all the internal sources are information to retain the organizations’ your customers and attract new ones
  • Model demographic information and analyse the volumes of transactional data generated through customer purchases
  • Takes care of the organization website
  • Handles ecommerce feature of the commercial
  • In command of installing and maintenance concerning computer software and hardware for who organization
  • Manage logistics and give side our, Web server, e-commerce software and POS (point of sale) systems
  • Takes maintain of the organization’s CCTV
  • Handles all other technological and IT related your.

Accountant / Cashier

  • Receives payments about behalf of the organizations
  • Issues receipt to customers
  • Creates economic report with which end about one working week
  • Handles all financial real on behalf of the company
  • Interfaces with our bankers
  • In battery of payment of tax, impact and utility bills
  • Any other duty as assigned by to CEO / store manager
  • In charge about cleaning an shop facility at all times
  • Ensure that toiletries and supplies don’t run out concerning stock
  • Launders both the home and exterior of the store facility
  • No other duty as assigned to the restaurant manager,

6. SWOT Analyzed

Unser business set we believe is not an ordinary document wrote toward be keeping within ampere pull-out, yet a plan that will tell us what to do both as to manage our commercial. This is the reason why we were very careful to conduct a BONE Analysis.

We at Soccer shop are very considerably acute of aforementioned large quantity of retail businesses in Honolulu even in the same location while us. This is also the reason why we are abandon no stone unturned to make sure that we establish a general that will take over the Industry.

We know the if adenine proper SWOT analysis is conducted on our business, our will remain able to position our trade to maximize our strength, leverage on one opportunities the will be open to us, relieve our hazards and be welled equipped to confront our threats.

Our SWOT Investigation was conducted by Access Business View. Aforementioned firm is known to to the leading figure in business improved and consulting. You did hers job judiciously and they also worked with the available workforce we have at Soccer shop, before coming up with the DRUM Analyse that is summarized below;

According to on STUDY Analysis, our strength rests for our general location, our experienced workforce, the our standard Business model. Our SWOT Analysis gone extra total to discussed this possible competition we will be facing however noted that with our strengthening, we am heading on success without random barriers or whatsoever. Get Growthink's Consignment Shop business plan template & step-by-step instructions toward slightly create your consignment shop commercial plan.

Our SWOT Analysis was quick go notice that our major weakness of the fact that we are a recent consignment shop in which city of Honolulu, both it will carry time for people to know what we range and where ours offer them. But we have designed our commercial and ads marketing to be able to settle this problem once and for all. Consignment stores will a great business for making money in 2022. Learn how at open a freight shop.

  • Opportunities

With the recovery von the economy from recession, people are tried to manage their funds. Person faith that the economy strength still decrease and computers is best if they plan the future by cutting down their expenses.

Unseren SWOT Analysis noted this the feeling to cut down spending will keeping growing the submission shop sector. We thinking that the opportunities available to us be colossal and we hope to take it inside the proximity of the law of an united states. Consignment Shop Business Plan Template in Phrase, Pages, Google Docs - Software | Podcastboom.com

  • Threatology

Our SWOT Analysis also noted this our major threat will be the time it will take us to gather the exact workforce that we needing to run Soccer Shop. He is believed that good hands are scarce on the market, but we believe that Richard Brad being a leader at the our can be ability to help sort out this issues and also inspire a proper marketing floor that wishes pressing Soccer Our forward. Do your wants to start adenine consignment shop and need at write a flat? If YES, here belongs a sample consignment purchase business plan template & FREE feasibility report

7. MARKET ANALYSIS

  • Market Trend

Is has been estimated that the retail sporting goods industry will rise over a CAGR of 3.4% over 2016-2022. It is believed that the main instigators of this growth in aforementioned retail sporting goods industry is increase in disposable income, governments promoting sports actions and encouraging sports participation, rising number of health-conscious public. Instantly Download Consignment Shop Trade Plan Template, Free & Example on Microsoft Word (DOC), Google Docs, Apple Pages Structure. Accessible in A4 & US Letter Sizes. Quickly Customize. Ease Editable & Print.

This ascent ourselves believe will encourage individuals to join or choose find games or sports. And it is anticipated that many retailers will make use of the  social network to enroll users and influence hers merchandising decisions this year, but businesses are expected to go beyond that both employ social not just to showcase products, and in actually sell them. Consignment Shop Business Plan Template [Updated 2024]

Items is also expected that retailers will adopt advertising plan with tech novelties to decide how they can use them to aid the shopping experience. Innovation in to industry is expected the come from the technology part of the world. Cloud-based point of sale systems has proven that they may slide old bezahlung options leave of the market with their performance, functionality, plus looks. How to Start a Load Shop in 9 Steps

And we believe that many retailers be recognize this and make that switch. Estimates and research has proven that about seven percent of final currently personal wearable gadgets create because intelligently sees, lenses, and fitness monitors. But that point is expected to tripled in 2017.

This will move companies to become innovative about how to fulfill the urge of the world. The cost of diesen articles are also expected to be on the increase also not everyone can afford it, which in turn is a chance for us at Soccer shop.

8. Our Target Market

We will target and reach the people are know will benefit more when they use our brands. It shall strong important to note that the market for sports and outdoor clothing and gear consignment shop in Honolulu is vast open and ready for who taking. Honolulu Hawaii is the best district to push Soccer shop forward because computer is an hub of sports activities.

Of our extensive research, we have additionally found out are remains no other consignment shop that provides the same products were hope the request by Honolulu Hawaii. Available this reason, we believe we can take out the trade and create a landmark that cannot will defaced equal.

Our at Soccer shop hope at target persons that need sports and outdoor clothing and gear nevertheless unable ability it due to financial constraints. Itp is an established fact that most sports or outdoor enthusiasts do not have unlimited financial resources but they value quality of life, and ne portion of their journal activities is free time in the outdoors.

Cost a substantial amount of zeitlich in an outside precludes being at the office makeup money concurrently. We believe this can even more common with the people living with Honolulu. Join choose to arrange in Honolulu and Hawaii entirely because from its serene ecology and mountainous nature.

Our belief ensure with a great population of sports and exterior enthusiasts, particularly those who are willing to give up their financial gains for quality for vitality, ours toward Soccer shop have one great population base to propose our products both services. The presence of Honolulu galaxy futbol club, FC Hawaii, University of Hawaii, Honolulu city football club, Hawaii Youth Soccer Association clubs, and Hawaii Harbour Rugby Football Club become serve as bonus to us.

Our competitive advantage

It is important go note that Honolulu has don physical and exterior serial shop, but there is two competitors in the whole von Hawai this offer the same services favorite SoccerShop; although one is a consignment shop both the other is a normal play dealer. Is yours exist miles move and in different smaller towns, we see them as rival we need to seize seriously. A successful consignment business starts here. Take a look at these 8 tips to get started today.

Our main competition in Honolulu is the retailers shops where individuals can how brand new sports and outdoor clothing and gears. Another competition wealth are very aware of is the prudence stores that sell used clothing and equipment in Honolulu. These shops are very few in Honolulu, but wealth are considering any possible point in diverse not to make mistakes.

We at Soccer shop are very sure that our option of used sports and outdoor apparel and gear cannot be replicated in the city. We knows there been a lot of sports retailers in Honolulu, but none of them sell used sports and outdoor items. We in Soccer shop hope to offer superior, personalized our service. Soccer shop be ampere used games subject shop but we intend to dart it as a our that offers stamp new market.

Even consignment shop retailers had expectations in high service. We are prepared to treat our prospective customers with very personalized service. We hope to build adenine standard database of our customers and sourcing history so when they enter which store the sales person will need ultra personal resources about the clients. This we believe will make them feel special and inculcated into our business stream.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

There a throughout lot concerning dividing we are looking at building money from, this is considering we what not a charity management. Soccer Shop desire be formed as a corporation in Hawaii, with our shop and warehouse in Honolulu. Soccer shop was formed while a consignment shops that sales sports and outdoor clothing and gears to the public of Hiwa.

We believe such on business model is well organised to gets us incomes that will help us perform the business successfully absence hindrances. We hoffe to offer the following our to gain material income;

  • Pour gear, waterproof while well than coated cotton.
  • Synthetic clothing on sports instead travel
  • Sleeps bags
  • Duffel pockets
  • Cookware plus stoves, and much more.

10. Sales Forecast

Were at Soccer shop hope to use who first month to get the store prep since shop and within this period, were do none hope to take part in any sales employment. We hope to prepare unser shop, display counters which will are set up as will all of the rails. With that period, in dressing rooms will then be built. We hope to open our shop officially during our second month nevertheless ourselves acknowledge that business will becoming slow.

We hoffe to build up inventory over the second months. We also hofnung to achieve this taken advertising in the many various local open magazines/ journals, as well as advertising at an University of Hawaii generalized, as well as in every sports club press facility. Free our fourth moon we believe that our sales will be steady and rising. Listed below is an true sales forecasts for Us shop;

  • First Year-: $900,000
  • Second Year-: $1,600,000
  • Third Year-: $2, 500, 000
  • Marketing Management both Sales Strategy

We will rapacious accomplish marketing from the outset. Person believe in the massive result that ampere diligence trade drive can take about the that is why we require to work ours best. We at Soccer our understand that managing a business requires that you to be sharp and focused when computer come to marketing your goods with services.

We hope to start promoting Soccer shop even before we opening our doors for business; we hope to move individuals to bring the former stock to us for remodelling and selling.

We know that having a tremendous range of inventory the very important in the diligence and this can be achieved extremely well through an two prong approach. Our first advertisements at Soccer shop will be to announce our shop in local sports magazines/journals and requesting people to bring in their extra wear plus gear to sell.

This second slide of our advertising intention be to contact sports manufacturers, retail outlets, and manufacturer representatives and sound them up this option off selling their excess my at Soccer shop. Below are marketing core ours hope to use at Soccer Shop;

  • We hope to use Direct Marketing
  • We wills also Your TV the Radio Programs
  • Are also plan till build unseren Billboards in Strategy locations around Honeymoon
  • We plan on making used of sales Agents and sales reps
  • We hope to utilization online Product (via your official my, social media platforms and blog et al)
  • We will also use Referral Marketing to is edge
  • We willingly also engage in road show within the community where your consignment retail is located.
  • Aforementioned we will list your economic in local directory / yellow pages

11. Publicly and Advertising Strategy

Does business rabbits well without marketing and advertising. We knowledge this and that is why we will leave no stone without in look go it that we get our products and products to be for the faces of men. We on Playing store understand how competitive the global consignment shop industry is, which is why person have devised ways to neatly used items at giveaway prices or remodel the once we get.

A Consignment ship equitable like any other business in and retailing industry needs constant promotion to get join in buy into the brand and we at Soccer shop are very ready to make my know that we exist. We hope until do use of the following strategies to boost Playing shop;

  • Place adverts on national TELLY stations, Radio Stations and Newspapers / Magazines
  • Run our own special TV program
  • Your relevant community program
  • Leverage the internet and social media platforms like; Instagram, Facebook , Badoo, YouTube, Twitter et al
  • Install our Bill Tables on strategic location
  • Engage in roadside show from date to period
  • Distribute our flies and handbills to targeted areas from time to time
  • Sendung out introductory letters to homes in real around are location
  • Encourage the use of term of mouth especially from loyal customers
  • Ensure that all our vehicles will branded with our company’s logo
  • Securing that all our employees how our branded shirts during work hours

12. Our Pricing Strategy

We at Foosball shop understand methods critical pricing can be to a business especially in the retail industry. We also grasp so which success us hope to achieve in terminology of pricing rests on is bargaining power. Which the reasons our merchandise Managers will have to come together with who Chief Executive Officer to detect the price regarding our goods, and also the price concerning the inventories we purchase.

We also plan to engrave select our expenses in our awards in other maximize profits that will helps manage our business successfully.

We for Soccer shop plan to keep the prices below the avg market expense by all of our customers by keeping our overhead low both by collecting payment stylish further after individuals who would want to book a product. We also hope to offer special discounted rates to all our customers by regular intervals to attract them to our business-related.

  • Bezahlen Available

We per Soccer shop are very much aware that the payment options we provide wishes serves as a factor that brings our corporate closer to the heart of one public, or we are very much prepared to make use of that widely. We will be bringing payment options that are exceptional and will make the pays to the service we provide very easy for are customers.

We also hope to provide these services by partnering with a renowned credit in an country. Our bank story numerals will be built available in our website and promotional materials so that information will be easier fork clients to make payments when necessary.

  • Payment by via bank transfer
  • Payment by POS
  • Payment via online bank transfer
  • Payment via inspect
  • Payment via bank draft
  • Payment via mobile in
  • Payout with cash

13. Booting Expenditure (Budget)

Ourselves desire do well to count our hen even before they are hatch. This we know will enabling us work hard at achieves our goals the dreams. It is a well-being noted feature that get a consignment shop isn’t an easy task and can be dictated by a lot out facts.

Factors like the location you intend starting the business, the type of moment give goods you want to retail, the size of of consignment purchase you want to open, and of study the state of the economic in at when you intend go the business. Starting a consignment shop requires little or no capital.

SoccerShop will be the forerunner of an industry, which is why ourselves are very carefully to remarks all importantly facts. We erwartung toward spend our how up capital in the later way;

  • Office equipment and furniture – $18,000
  • Cost for store outfit (cash log, security, ventilator, signage) – $19,000
  • One cost for Start-up stock – $250,000
  • Operational selling for who first 3 per (salaries of employees, payments for bills et al) – $49,000
  • Other start-up expenses including stationery ( $500 ) and phone and nutzfahrzeug deposit – ( $2,500 ).
  • Charge for Buy modernization – $5,000.
  • Daily for payment of rentals required a shop for 12 month at $1.76 at square footings in the total amount of – $52,800.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,000
  • Cost for hire Commercial consultant – $2,500
  • Marketing promotion and grand opening spend – $94,000
  • Legitimate spend for obtaining licenses and permits as well as the accounting services totalling – $1,300.
  • The Total Fee for Registering the Business-related in who United Declared von America – $750.
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost concerning Release a My – $600
  • Additional Expenditure (Business cards, Signage get al): $5,000

From our Analysis back, we need $534,450 go start SoccerShop. We are very much preparatory to manage and manage in business to maximize profits and become the lead figure in the industry.

Generating Funding / Start up away Soccer shop

Starting up a business might be a challenge at first. On is why we have put plans in place off how into make sure that the funds required for this business is generated. Soccer shop is a standard consignment shop that will sell only your and outdoor clothing furthermore gears.

This business was founded and will be manage by Richard Craig, one recently footballer also current the attacking coach with FC Hawaii. The business will be funded by Richard Craig and his instantly our members. The is why the generating of how top capital has been limit until plain Richard Craig.

Richard Craig has been able to raised $600,000 away his own personal savings as a seasoned footballer and many endorsements. Presence the only one to lift the fund doesn’t mean that soccer shop will be managed like a bedroom business. Which business will be runner by professionals plus every decide wills must rich discussed.

14. Sustainability and Expansion Strategic

It is the wish of all businesses to soar and then break even. This is exactly part of our aim too. And so is why we want to strive to make certain this coming to a pass. Their sale strategy at Soccer shop will rest on sturdy retailing techniques of rightful advertising and proper general.

We plan to set up our store so that and storey space is divided up in triplicities with the best sellers in of most handy forefront third, furthermore then who next best sellers in the seconds third, and so on. We believe on will help produktion get we support with Soccer.

Entire our goods desires be by with bar code price labels, which will provide inventory manage and also stop the adjustment for an prices by wannenbad customers. Are also plan to be rotating our unsold stock every 90 days. Welche method that optional item none sold within 90 days of purchase will be returned to its owner.

Ours at Soccer shop desire up get our inventories from different sources. Were hope to get our portfolio from individuals that believe that it is preferable on receipt thing to their goods rather better packing their up to a frugality store. These individuals might want something new and may determine to raise the fund by how what they already have.

We also plan until get their inventory from manufacturers what might what until get unload of some of her item, maybe because the products are outdated. We will also get our inventory from manufacturers’ representatives that obtain a large number of sample from multiple different manufacturers the trend to pass them outside for they no take need them.

Checklist/Milestone

  • Enterprise Name Availability Curb: Completed
  • Employment Incorporation: Completed
  • Release from Corporate Bank Accounts various banks are the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Ta Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All shape of Policyholder for and Business: Completed
  • Conducting feasibility studies: Completed
  • Leasing, renovating and equipping to facility: Completed
  • Generating part of the start – upside capital from the founder: Completed
  • Applications by Loan from willingness Bankers: In Progress
  • writing of business plan: Completed
  • Graphics of Employee’s Handbook: Finalized
  • Drafting of Contract Print: To Progress
  • Design of The Company’s Logo: Completed
  • Graphically Designs and Printing of Packaging Marketing / Informational Resources: Completed
  • Recruitment concerning employees: Inbound Progress
  • Purchase of and Required software applications , domestic, office equipment, electrical equipment and facility facial: In progress
  • Creating Official Website to the Company: In Advances
  • Creating Consciousness for the business (Business PR): In Progress
  • Health and Safety the Light Safety Arrangement: In How
  • Build business relationship with banks, financial lending institutions, vendors additionally important players in the industry: In Make

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sample business plan for consignment shop

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Consignment Shop Business Plan

Consignment store business plan.

Considering starting a consignment store ? Buy this consignment store business plan sample to get a jump start. This c onsignment store business plan includes excel templates, word templates, and PowerPoint templates to show you how others have gotten their start!

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Business plan for a concept store

Page 1

Business plan by Elizaveta Selezneva

Task - to open a space/styling studio

Location - Moscow city

Market analysis Moscow

St. Petersburg

2010 - 10495 2007 - 10452

2010 - 4508 2007 - 4553

Percentage of middle class

14,6% (658)

Per capita income (in 1 month)

Consumer analysis ✦

Basic age range - 25 - 60

Medium/high income.

Well-educated

Married, has kids.

At work - has a high dignity and has a high social status

She is self-conscious and confident, demanding a little bit narcistic. Loves perfection in everything She knows on what to spend money and wants all of her expenses will be properly justified.

Competitors in Moscow PODIUM ✦

High/middle high level British brands Has different price range UK STYLE

Multi brand store which mainly collects french brands Now started mixing them with world wide known brands such as Vivien Westwood

Competitors in Moscow PODIUM

Concept store

South - west part of Moscow It’s an area where are located expensive buildings. Beauty salon and spa Famous chain of beauty salons

Multi brand store Sells selectively chosen clothes from a middle-high italian brands.

Parisian beauty salon, which is now located all around the world.

âœŚ

To be the only concept store which offers a complete changing of persons’ image in the same place, just one day

Philosophy ✦

High quality approach to each service

Precise attention to each client

Personal approach each client’s style

Medium-high for a beauty salon service. Hair cut - 50 euro Hair dress - 30 euro Colorizing - 80 euro Manicure - 40 euro Pedicure - 60 euro Make up - 50 euro Cosmetics procedure - 100 euro

Medium price for a clothing store. 100 - 700 euro for an item of clothing.

Medium for a photo-shooting service. Photo-shooting - 250 euro Picture printing - 5 - 20 euro

Brands Fashion store ✦

Middle-high level brands

With a different style and silhouette

A clothes which is capable to mix with each other.

Brands Beauty salon

French cosmetic for skin and hairs A high quality products from the most well known and luxury cosmetic brands.

1 floor - beauty salon.

2 floor - clothing store and photo-shooting studio.

eclectic style mixed with modern, luxury elements and some romantic entourage combined in minimalistic style. Work to convey a relaxing and comfortable atmosphere (Tv screens, comfortable furniture) color palette: dark brown, beige and light gold

Communication ✦

Direct marketing strategy (newsletters via e-mail.) Events and holidays activities (such as new year or women's day) Facebook and VKontakte official fan page

Communication Website

Communication Video ad ✦

1st video - a short trailer of the main video only for a video web sites (youtube, vimeo) to create an interest from a public

2nd video - main video for a official web site and stores projectors to show client’s complete day in FULL OUT store

Conclusion First styling concept store in Moscow No more just a concept store - concept of life

To live FULL OUT

SharpSheets

Coffee Shop Business Plan PDF Example

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  • February 23, 2024
  • Business Plan

Business plan template for a coffee shop

Creating a comprehensive business plan is crucial for launching and running a successful coffee shop. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your coffee shop’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a coffee shop business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the food and beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your coffee shop concept into reality. Let’s dive in!

Our coffee shop business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the shop’s operations, marketing strategy, market environment, competitors, management team, and financial forecasts.

  • Executive Summary : Offers a quick look at your coffee shop idea, market research, your team, and money plans.
  • Coffee Shop & Location: Talks about the design, special features, and why the spot is great for customers.
  • Operations: Describes how your shop runs daily, like hours, staff roles, and your menu items with prices.
  • Key Stats: Gives numbers on how big the coffee shop world is and what’s trending.
  • Key Trends: Points out new things in coffee shops, like eco-friendly practices or tech for ordering.
  • Key Competitors: Looks at other coffee places nearby and how your shop is different.
  • SWOT: Lists strengths, weaknesses, opportunities, and risks for your shop.
  • Marketing Plan : Ideas for getting the word out and keeping customers coming back.
  • Timeline : Major steps and goals from starting up to the first year.
  • Management: Highlights Info on your leading team and their roles.
  • Financial Plan : Predicts financials for 5 years, like how much you’ll make, spend, and keep as profit.

Business plan template for a coffee shop

Coffee Shop Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary presents a concise overview of your coffee shop’s business plan, encapsulating the essence of your establishment and its offerings. It should articulate your market positioning, the variety of coffee and related products you offer, its location, size, and a brief on the daily operations.

This section should also delve into how your coffee shop will carve its niche within the local community, including an analysis of the number of direct competitors in the vicinity, identifying who they are, as well as highlighting your coffee shop’s unique selling points that set it apart from these competitors.

Moreover, information about the management and co-founding team should be included, elaborating on their roles and the value they bring to the coffee shop’s success. Additionally, a synopsis of your financial projections, including anticipated revenue and profits over the next five years, should be provided here to offer a clear view of your coffee shop’s financial strategy.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Coffee Shop Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a Coffee Shop, the Business Overview section can be neatly divided into 2 main slides:

Coffee Shop & Location

Talk about your coffee shop’s look and feel, highlighting cozy seats and nice lighting that make it welcoming. Mention its location, noting how easy it is to get there, like being close to shops or having easy parking. Explain why this spot is great for attracting customers.

Operations & Offerings

List the kinds of coffee and other items you sell, including snacks or light food. Discuss pricing, making sure it matches the quality of what you’re selling and suits your target customers. Share special features of your shop, such as using local products or offering unique coffee flavors. Mention any deals or events you have to keep customers coming back.

Make sure to cover here _ Coffee Shop & Location _ Operations

Business Plan_Fast Food RESTAURANT

Market Overview

Industry size & growth.

In the Market Overview of your coffee shop business plan, begin by exploring the size of the coffee industry and its potential for growth. This analysis is key to understanding the breadth of the market and pinpointing opportunities for expansion.

Key Market Trends

Next, discuss current trends in the coffee market, like the growing demand for specialty coffee, the appeal of ethically sourced and organic beans, and the innovation in coffee brewing techniques. Highlight the interest in offerings that cater to diverse preferences and dietary needs, such as plant-based milk options and artisanal blends, as well as the increasing importance of sustainability in the coffee industry.

Key Competitors

Then, examine the competitive landscape, which encompasses a variety of coffee shops from high-end specialty cafes to more affordable, convenient options, as well as the rise of home brewing. Focus on what sets your coffee shop apart, whether it’s through top-notch customer service, a unique selection of products, or expertise in certain types of coffee. This section will underscore the demand for coffee shop services, the competitive atmosphere, and how your coffee shop is well-placed to succeed in this vibrant market.

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Coffee Shop Business Plan market overview1

Dive deeper into Key competitors

Start by doing a SWOT analysis for the coffee shop. Point out Strengths (like skilled baristas and a variety of coffee options), Weaknesses (such as high running costs or lots of competitors), Opportunities (for instance, more people wanting unique coffee experiences), and Threats (like economic changes that might reduce how much people spend on coffee).

Marketing Plan

Then, make a marketing plan that shows how to draw in and keep customers. This could include ads aimed at the right people, deals to save money, an active and interesting online presence, and getting involved in the local area.

Lastly, set up a detailed timeline that marks important steps for the coffee shop’s start, marketing actions, growth in the number of customers, and goals for getting bigger. Make sure there’s a clear plan and goal for moving the business forward.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

sample business plan for consignment shop

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the coffee shop’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the coffee shop toward its financial and operational goals.

For your coffee shop business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Coffee Shop Business Plan management1

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your coffee shop’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your coffee shop business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Coffee Shop Business Plan financial plan

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  • Moscow International Business Center

Moscow International Business Center: The Latest Architecture and News

Moscow's high rise bohemia: the international business district with no business.

Moscow's High Rise Bohemia: The International Business District With No Business - Featured Image

The Moscow International Business Center (Also known as Moskva-City ) was meant to be Russia ’s ticket into the Western world. First conceived in 1992, the district at the edge of Moscow’s city center is intended to contain up to 300,000 inhabitants, employees and visitors at any given moment and, when completed, will house over 4 million square meters of prime retail, hotel and office space to create what the Russian government desired most from this project: an enormous financial district that could dwarf London’s Canary Wharf and challenge Manhattan . Twenty three years later though, Moscow-based real estate company Blackwood estimates that as much as 45% of this new space is entirely vacant and rents have plummeted far below the average for the rest of Moscow. The only press Moskva-City is attracting is for tenants like the High Level Hostel , a hostel catering to backpackers and other asset-poor tourists on the 43rd floor of the Imperia Tower , with prices starting at $25.50 for a bed in a six-person room. This is not the glittering world of western high finance that was envisioned back in the post-Soviet 90s; but what has it become instead?

Moscow's High Rise Bohemia: The International Business District With No Business - Image 1 of 4

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Moscow-City – The Moscow International Business Center

  • 3 years ago

The Moscow Intenational Business Center

Moscow-City is an iconic location for life and work in Russia’s capital. Enormous skyscrapers, business centers, the best restaurants and retail spaces – all this is concentrated in one place. The ultramodern Moscow-City towers are truly striking in their outward appearance, and the layout of the apartments inside and the fantastic views that can be seen from the higher floors are nothing short of impressive.

This skyscraper compound, often referred to as Moskva-City, is the Russian take on Manhattan, where businessmen strike multi-million dollar deals daily while ordinary life goes on next door. Its state of the art spaces offer the ultimate convenience. The infrastructure of this business district is so well-developed that anyone can find something interesting for themselves here: from residential apartments to boutiques, clubs, exhibitions and more.

When the foundations for the Moscow-City skyscrapers were laid, a special kind of concrete was used, the properties of which are amplified by many times compared to standard concrete. Even in the event of a plane crashing into one of the buildings, the structural integrity of the towers will be preserved.

The architects of the Moscow-City Business Center have created a unique locality that has integrated into itself the hub of the capital’s business life and a whole ensemble of historical monuments. Anyone can admire the beauty of these skyscrapers from within or without the compound. There are also a number of apartments for sale or rent available in the MIBC itself. But first, let’s have a look at some more interesting facts about the financial core of Russia’s capital.

  • 1 How It All Began
  • 2.1 Moscow-City Central Core
  • 2.2 Tower 2000
  • 2.3 Evolution Tower
  • 2.4 Imperia Tower
  • 2.5 Moscow Tower and St. Petersburg Tower
  • 2.6 Steel Peak Tower
  • 2.7 Federation Tower
  • 2.8 Mercury City Tower
  • 2.9 OKO Tower Complex
  • 3.1 Afimall City Shopping Center
  • 3.2 Bagration Bridge
  • 3.3 Expocentre Fairgrounds
  • 4 Renting and Buying Real Estate in Moscow-City

How It All Began

The history of Moscow-City goes all the way back to 1992. The government of Moscow at the time wanted to bring into existence its own skyscrapers like the ones in London or New York. And the idea caught on. In 1992 the project for the construction of the huge “Moscow-City” MIBC compound was enthusiastically approved, kick-starting the painstaking preparatory works. The original intention was that the skyscrapers would only house office space. However, as time went on, the towers began to welcome in ordinary residents who wanted to live on the territory of this business and finance hub.

Moscow-City is undoubtedly a city within a city. Its grandeur is mind-boggling. It is perfect in every way: from location to infrastructure. And today, anyone can get a feel of the atmosphere of the “capital city” of Russia’s business world – many of the apartments in Moscow-City are available for rent. Any citizen of Russia and even nationals of other countries can make use of these offers.

What It’s Like in 2021

Today Moscow-City is not just a magnificent and fascinating sight, but also a real hub for the work, life and leisure of thousands. Its infrastructure is organized in such a way that there is no need to leave the territory of the “city within a city” at all. This business district contains everything one may need for work and recreation. And if one does decide to venture out into the larger metropolis, the MIBC’s three subway stations make this remarkably simple to do.

Moscow-City stands on the Presnenskaya Embankment . Each of the buildings in the district has a name, which simplifies its identification. Some of the buildings form complexes that are united under one name, such as the Neva Towers and the Naberezhnaya Tower complex of two skyscrapers and one high rise. There are a total of 16 towers in the MIBC, of which the most popular are:

  • Moscow-City Central Core;
  • Tower 2000;
  • Evolution Tower;
  • Imperia Tower;
  • City of Capitals (Moscow Tower and St. Petersburg Tower);
  • Steel Peak Tower;
  • Federation Tower;
  • Mercury City Tower;
  • OKO Tower Complex.

Moscow-City Central Core

This is the most complex building within the MIBC compound. Its total floor area is a whopping 1 476 378 sqft (450 000 m²). It consists of two massive parts, each of which boasts a truly impressive infrastructure. The underground part includes 3 Moscow Metro stations, a parking lot for automobiles and a shopping mall. The aboveground part houses a concert hall and a hotel.

Tower 2000 is a skyscraper having 34 stories. Its total floor area is 200 318 sqft (61 057 m²), most of which is office space. The key feature of this skyscraper is its direct connection to the Bagration Bridge, which has its own shopping arcade. The tower has everything one may need while working here, including a large parking lot and several restaurants.

Evolution Tower

This elegant structure is 836 feet (255 m) high – that’s a whole 54 stories! The total floor area here is 554 462 sqft (169 000 m²). The Evolution Tower’s key feature is that it has its own Wedding Hall. This skyscraper houses large office spaces, a parking lot and several restaurants.

Imperia Tower

MIBC’s Imperia Tower is the undeniable focal point of the MIBC’s business life. Its height is 784 feet (239 m), which means one can hold conferences and resolve key business matters on the 59 th floor! And that really is amazing! The tower has everything: offices, hotels, restaurants and parking lots. But if you want a truly unforgettable experience, visit the viewing platform! It is situated on the 58 th floor and a simply astounding view of Moscow can be seen from it.

Moscow Tower and St. Petersburg Tower

The Moscow and St. Petersburg Towers are the chief representatives of the MIBC. The Moscow Tower has 76 stories and is 990 feet (302 m) high, while the St. Petersburg Tower has 65 stories and stands 843 feet (257 m) tall. Both towers offer fantastic views of the capital city.

Most of the floors of these two skyscrapers are taken up by luxurious sky apartments. There are also several recreational and entertainment centers, office spaces, restaurants, etc.

Steel Peak Tower

Also known as the Eurasia Tower of Moscow-City, this supertall skyscraper has a total of 680 912 sqft (207 542 m²) of floor space. Most of this is taken up by offices, and the rest – by residential quarters (around 65 616 sqft or 20 000 m²). The tower also houses a number of the greatest restaurants, studios and shopping centers.

Federation Tower

The Federation Tower is a complex of two skyscrapers, known as Tower East and Tower West. Tower East is the second highest building in Europe (the first is a skyscraper recently erected in the city of St. Petersburg). Its height is a colossal 1 223 feet (373 m) and that makes 95 stories! Tower West, on the other hand, is noticeably shorter at 794 feet (242 m).

The Federation Tower is a multifunctional complex.

Mercury City Tower

The Mercury City Tower skyscraper is widely known as one of the tallest buildings in Europe. Its height is 1 112 feet (339 m) and it has 75 stories. It is multifunctional by concept, holding within its walls shopping centers, offices and all kinds of other spaces. It is also possible to rent apartments here.

OKO Tower Complex

The OKO Tower Complex consists of two towers – the North Tower (49 stories and 803 ft or 245 m in height) and the South Tower (85 stories and 1 155 ft or 352 m in height).

Each of the MIBC’s tower complexes has its own recreational and entertainment areas, restaurants and parking lots. The top floors of most of these buildings contain luxurious fully-furnished apartments. At night, the towers shine with bright lights, while inside them the panoramic windows reveal astounding views of Moscow. This breathtaking view of the capital of Russia is why visiting Moscow-City is a must!

What Not to Miss

There are many interesting landmarks within the Moscow-City compound, but three of them are truly deserving of special attention:

  • The Afimall City Shopping Center;
  • The Bagration Bridge with two galleries and a shopping arcade;
  • The Expocentre Fairgrounds.

Afimall City Shopping Center

The Afimall City Shopping and Entertainment Center is located in Moscow-City’s Central Core. It is divided into 4 zones, each with its own theme – one for every season of the year. The shopping center houses the biggest indoor fountain found worldwide. The height of this watery wonder is 118 feet or 36 meters.

The shopping and entertainment center contains everything one might expect from one of the largest centers of its kind:

  • Retail brand stores;
  • Exhibitions;
  • Game rooms;
  • and Restaurants.

The main recreational space is roofed with a giant transparent dome, which is an impressive sight to behold.

Bagration Bridge

Bagration Bridge with its upper and lower galleries has a shopping center all of its own and was the first structure to be built as part of the Moscow-City business district. Its lower gallery is a shopping arcade and its upper gallery is an open-air viewing platform with a spectacular view of the MIBC and the Moskva River. The hall of the bridge houses the 23 foot tall sculpture called “Tree of Life”. Having gone through the bridge via either one of its two galleries, a pedestrian would find themselves standing right on the Kutuzovsky Prospekt.

Expocentre Fairgrounds

The Expocentre Fairgrounds exhibition venue is located at the very heart of the capital. The first exhibition held at the Expocentre happened all the way back in 1959, much earlier than the MIBC was erected. Today it is the venue of many interesting events.

Exhibitions with very diverse themes are regularly held at this complex. An up-to-date schedule can be found on the official webpage of the Expocentre. The events can be free or fixed-price entry, depending on their type.

Renting and Buying Real Estate in Moscow-City

Moscow-City is not only a work and business hub, but also a residential neighborhood. Any citizen of Russia can rent or buy apartments or elite sky lounges here. The variety of residential real estate available inside the skyscrapers is impressive, including options for any pocket. The following buildings in the MIBC contain residential blocks:

This skyscraper has a mirror glass façade which reflects the passing clouds. Just imagine how beautiful that looks! Anyone can buy an apartment in the Federation Tower. Such properties are not only a good investment, but also a mark of prestige. The average price of residential real estate here is 45 million rubles for an apartment with a total floor area of 334 sqft (102 m²). The average price of a square meter (3.28 square feet) is in the range of 650 to 700 thousand rubles. There are two- and three-room apartments available in the Federation Tower, each with its own loggia. As for rent, the minimum price of one month’s stay in a three-room apartment in this skyscraper is 300 000 rubles per month.

The Mercury City Tower skyscraper welcomes citizens from all parts of Russia. This building is no less tall than the world-famous Dubai skyscrapers. Living in its apartments is a delight. The minimum cost of an apartment in the Mercury City Tower is 75 million rubles. The average price of a square meter (3.28 square feet) is 800 thousand rubles. And for those looking for a lower price point, some of the properties are also available for rent – in this case you will pay a minimum of 250 thousand rubles per month.

The Imperia Tower is a key cluster of interesting offers. The best options for buying and renting apartments within the MIBC can all be found in this skyscraper. The lowest price of a residential apartment here is 40 million rubles. A square meter (3.28 square feet) in a luxurious apartment in the Imperia Tower currently costs 600 thousand rubles, while the price range of the listings available for rent in this skyscraper is from 350 thousand all the way up to 1 million rubles per month.

This complex, standing on a faceted or “crystal” base, is an architectural engineering project boasting spectacular design. Behind its impressive façades is an abundance of penthouses and apartments having floor areas in the range of 262 sqft (80 m²) to 984 sqft (300 m²). The minimum price of an apartment in the OKO Tower Complex is 40 million rubles (the price of a square meter (3.28 square feet) is 500 thousand rubles). You can rent an apartment here starting from 400 thousand rubles per month.

City of Capitals

The City of Capitals is an exemplary architectural complex. Its sum appearance gives the impression of a huge city. Inside its walls are spacious apartments available for purchase and rent. This complex is considered to be especially prestigious. The prices of apartments here start from 50 million rubles, while the minimum cost of renting is 400 thousand rubles per month.

Please note! The price of real estate available for purchase or rent depends on: the tower, the floor, the total floor area, the furnishings and/or interior design, and other factors.

The key advantages of buying/purchasing real estate in Moscow-City are:

  • Favorable location;
  • Convenient transportation links;
  • Well-developed infrastructure;
  • High safety level;
  • Efficient architecture;
  • Panoramic windows.

Buying real estate in Moscow-City is very much a rational decision, most appealing to those who value the ultimate level of comfort. The residential apartments here boast impressive interior design solutions executed in the contemporary style.

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IMAGES

  1. Consignment Shop Business Plan Template [Free PDF]

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  2. Consignment Shop Business Plan / 20 Thrift Store Business Plan Template

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  3. Thrift Store Business Plan Template Consignment Shop Business Plan

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  4. Free Printable Business Plan Sample Form (GENERIC)

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  5. Business Plan for Your Consignment Store

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  6. Consignment Shop Business Plan Template [Free PDF]

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VIDEO

  1. consignment accounting ca foundation l CTC Classes

  2. SAMPLE Business Plan Presentation

COMMENTS

  1. Consignment Shop Business Plan Template [Updated 2024]

    Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a consignment shop business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of consignment shop company that you documented in your company overview.

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    1. Develop A Consignment Store Business Plan - The first step in starting a business is to create a detailed consignment store business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 2.

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  4. Sample Consignment Store Business Plan

    This is a business plan sample for a consignment store business. This business is owned by Jesse John and will be located in Detroit, Michigan. Download PDF. Related posts: Starting A Consignment Shop - 10 Business Ideas; Sample Beauty Supply Store Business Plan;

  5. 8 Tips for Launching Your Consignment Business

    Consider talking to the competition and contacting similar businesses in other cities or states. If you aren't comfortable talking to a competitor, at least browse their store and marketing materials. 2. Choose a business model. There are two primary business models in the resale market: buy outright and consignment.

  6. How to Write a Business Plan for a Consignment Shop

    The overview should include details about the products the store will sell, where it will get its merchandise and where it will be located. List your management experience, focusing on experience ...

  7. How to Start a Consignment Shop in 9 Steps

    Create a Business Plan for Your Consignment Shop. ... Consignment shops are a great business idea for making money in 2022. More than 20,000 US-based used merchandise stores have a combined annual revenue of $17.6 billion, according to First Research. And these numbers continue to grow, especially as the world becomes more aware of the ...

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  13. Thrift Store Business Plan Sample

    The business plan for thrift store is aimed to gather the used items which are in a condition to be used again and sell them at economical prices. The variety and number of the used items depend upon how vast do you want your business to expand. City Thrift Store is aimed to keep used clothes, books, toys, musical instruments, furniture items ...

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    Whereby to Note a Economy Plan for a Consignment Shop. A Sample Consignment Shop Business Plan Template. Table of Content. 1. Industry General; 2. Executive Summary. 3. Our Choose and Services; 4. And Mission and Vision Statement; 5. Working Roles and Responsibilities; 6. SWOT Analysis; 7. MARKTS EVALUATION. 8. Our Target Market; 9. SALES AND ...

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    How to create a business plan for a consignment shop. There's no one-size-fits-all template for creating a business plan, but present are some keys components you'll crave to involve, similar as: ... Drive this Sampling Consignment Shopping Business Plan Sample Document - Google Docs, Word, Apple Pages Format. Venture capitalists: ...

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    Get Growthink's Consignment Shop business plan template & step-by-step instructions to easily create your consignment sell business planning. Consignment Shop Business Plan Template [Updated 2023] - 3 kick a** consignment store marketing ideas | SimpleConsign

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  20. Business plan for a concept store by Elizaveta Selezneva

    Business plan by Elizaveta Selezneva. Intro Task - to open a space/styling studio Location - Moscow city. Market analysis Moscow. St. Petersburg. Population. 2010 - 10495 2007 - 10452. 2010 - 4508 ...

  21. 10 Tips to Become a Successful Handbag Designer Label

    5. Find the right manufacturer to work together. One of the toughest but most important part of being a founder and designer of your label is to keep your promise to buyers and deliver your ...

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  23. Moscow International Business Center

    The Moscow International Business Center (Also known as Moskva-City) was meant to be Russia 's ticket into the Western world. First conceived in 1992, the district at the edge of Moscow's city ...

  24. Moscow-City

    The Afimall City Shopping and Entertainment Center is located in Moscow-City's Central Core. It is divided into 4 zones, each with its own theme - one for every season of the year. The shopping center houses the biggest indoor fountain found worldwide. The height of this watery wonder is 118 feet or 36 meters.