How to Start a Baby Clothing Resale Business
How to Start A Baby Clothing Resale Business
This lens will give you some insight on starting a baby clothing resale business or consignment store, and basic information about business plans, acquiring and expanding inventory, licenses, marketing and setting prices. Of course there is much more to opening a baby clothing resale business or consignment store then the information presented here but this will give you some ideas and things to consider.
The process of business planning is almost identical the world over, no matter whether you are in the USA, UK, Australia or Japan, and no matter whether you're a potter, web designer, financial analyst or an inventor. Most people write a business plan either because their organisation requires they do it, or because they want a written plan for the future or because they want to use it to raise finance from a bank, the government or other source of funding.
This DVD takes the viewer through a step-by-step journey in easy-to-understand no-jargon layperson's language, and exposes many of the secrets to producing a successful business plan that WORKS!
During the first 40 minutes, John Edmonds gives the viewer an overview of what business planning is all about, why it's necessary, and some of the issues surrounding the use of business plans. John then spends the next 45 minutes going step-by-step through the chapters that you might wish to put into your plan.
Types of Baby Clothing Resale And Consignment Stores
1. Retail Store
2. Home Based Store in Your Community
3. Virtural/On Line Store
5. Consignment Store
4. eBay Store
Start Up Funds and Tax Breaks
A used clothing business offering low prices on donated clothing serve a purpose to the community and there might be programs in your city that can help you attain your startup funds.
If you are going to open a thrift store style used baby clothing business, you should look into possible tax breaks.
In order to open a baby resale clothing store you will need to acquire inventory. Start by cleaning out your own children's closets. Gather up all the clothing and toys that they have out grown.
Other ways to acquire used baby clothes:
1. Ask family and friends for clothing and toys that their children have out grown.
2. Purchase baby items at yard sales. Go to garage sales at the end of the day when the garage sales are almost over. Many people do not want to keep their unsold items. Some people will just throw the unsold items away at the end of the day. Offer to take the items off their hands. If they won't give you the items for free, then bargain with them for a bulk purchase. You don't want to pay a lot of money because it will cut into your profit. Look for baby clothing, baby books and toys, strollers and any other baby related item that is in good condition.
3. Look on CraigsList under "free".
4. Search eBay. There are a lot of baby items that are selling for under $2.00. Only purchase these items if you think you can double your money from selling them in your store.
4. Look for business that are "going out of business" you can find great deals, especially if you buy in bulk. You can usually bargain with someone going out of business too.
5. Acquire inventory through consignment by asking your family, friends and local businesses to loan baby items to you. Make some sort of arrangement to pay them a certain percentage of the sale of the items once the items are sold. Agree to return the unsold items if you don't sell them in an allotted amount of time. Acquiring inventory through consignment will allow you to keep your out of pocket costs down.
Expanding Your Inventory
Don't just limit your business to baby clothing. To increase your inventory and profits, include used children's books, educational products, toys, strollers, cribs, changing tables, and other baby related items.
Setting Your Prices
Set your prices according to:
1. Quality of the item
2. Cost of the item
3. Brand name
4. Demand for the item
This will help you to determine your profit margin. Sell your band named items for a little more than non-brand items.
18 Ways to market your baby clothing resale business:
1. Paid Advertising
2. Blogs: Blog about "baby" subjects and add links to your own web site and products. Tumblr, WordPress, and Blogger are all free blogging services.
3. Forums and Discussion Boards: Offering help and answering questions can help increase traffic to your website. These forums are indexed by search engines, and therefore participating on them will also increase your link popularity and earn you extra traffic. Most forums allow members to add their signature and URLs and some have a free advertising section. This will give you an opportunity to promote your business and also interact with others and encourage them to visit your website.
5. Link Exchanges: Trade links with other websites. Having some links with other websites of similar topic can help increase the link popularity of your website. Trade links with sites that offer similar products but are not direct competitors, that is, do not offer exactly the same product or service like yours.
6. Web Site: You can also add affiliate links to your web site to increase your income.
7. Virtual Tools: Create a report or an e-book that is related to what you offer and give it away for free. Place your website links and product information in the e-book.
8. Yellow Page Phone Books: Get yourself registered and listed in online yellow page phone books under your business name & business information.
9. Social Network Sites: Advertise your business for free on MySpace, Facebook Twitter and linkedIn. Register, build a profile, add friends and prospective customers to begin advertising. You could also consider making a group, community or business page too.
10. Write articles about your service and products and then post the articles on different websites. Make sure to include a link to your own webpage.
11. Business Directories: Register your business for free with on line business directories.
12. Free classified ads: Craigslist is one of the most popular sites online. Craigslist allows you to post free classified ads, which would be visible for 45 days at a time.
13. URL Submissions: This is probably the quickest and easiest thing to do to advertise your site. Just type Free URL submission in your search engine. When you get a list just enter the URL you are promoting and click submit. Thats it. It only takes a few seconds and your done.
14. Yahoo! Local Listings: Sign up on Yahoo! Local for free exposure for your website.
15. Social Bookmarking Sites. Digg and Delicious are just 2 of the more than 400 free sites that you can sign up and submit your website at.
16. Mobile Advertisement: Use your car as a mini mobile advertisement. Make a poster and put it up on the rear windshield of your car or on one of the passenger side windows, or place a sticker on your bumper. Include your business name, web site, and/or business phone number.
17. Walking Advertisement: Customize a t-shirt with your business name and web site url on it. Wear the shirt in public, especially in places where there are large crowds.
18. Contests: Use a contest to build your contact list and to attract more customers.
Baby Store Business Cards
Click on any card to purchase from Zazzle. All business cards are customizable.
Advertise Your Business On A Shirt!
Become a walking advertisement for your business.
Customize a t-shirt with your business name and web site url on it. Wear the shirt in public, especially in places where large crowds gather.
If you've thought of starting an online business or if you're already selling online, here's how to get your share of online customers. This second edition of Starting an Online Business All-in-One For Dummies covers everything from creating a business plan and building a customer-friendly site to marketing with Facebook and MySpace. There's even a section about setting up shop in the virtual world of Second Life.
Eleven handy minibooks cover online business basics, legal and accounting, Web site design, online and operating, Internet security, boosting sales, retail to e-tail, storefront selling, fundraising sites, niche e-commerce, and e-commerce advanced.
You'll learn to:
Build a business plan that translates your ideas into a profitable enterprise
Choose software to help you manage taxes, balance sheets, and other accounting chores
Create a Web site that helps your business make money
Fill orders, pack and ship merchandise, and manage stock
Set up, budget for, and implement a plan to protect vital computer equipment
Use PR and advertising tools that best promote your business online, including Google AdWords
Choose what sells best in Second Life and earn real money from your virtual store
Market through niche communities, find and use special marketing tools for nonprofit organizations, and apply successful mobile marketing techniques
For tax purposes, keep accurate records of all your revenue and expenses.
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