How to Open up an Online Consignment Shop without having inventory
Do you have a passion for fashion? Are you always scouring through thrift stores and consignment shops for the latest trends?
If so, then you may be interested in starting your own online consignment shop! This is a great side hustle that can be started with very little money.
In this blog post, we will discuss the steps that you need to take to open your own online consignment shop store without having any inventory!
The first step is to partner with other consignment shops and stores like boutiques and individual consignors. This way, you can offer a variety of items on your website without having to invest in inventory yourself.
You can ask them if they would be interested in listing their items on your website. Let them know that you are getting between 20 & 30 customers a day on a good day (whatever you are getting or hope to get on a good day) and you’re only making XYZ amount of money per month.
Inform them that you know how to promote online but you just don’t want to deal with the inventory. That you don’t want to stock anything. You just want to be the ‘middle-man’.
If they are interested in working with you, then you can negotiate a consignment percentage. This is the percentage of the sale that you will keep as your commission. Most consignment shops accept anywhere from 40–60% of the final sale. You can also offer to do all the work for them. This includes taking pictures of the items, writing descriptions, and promoting their items on your website and social media platforms. In return, they may be willing to give you a higher percentage of the sale.
The next step is to set up your online consignment shop! You will need to create a website and social media accounts for your business.
Make sure to choose a catchy name and branding that will appeal to your target market. Once you have created your online presence, start promoting your consignment shop!
Use social media, email marketing, and word-of-mouth to spread the word about your new business.
One of the great things about an online consignment shop is that you can run it from anywhere in the world! If you have a laptop and an internet connection, you can manage your business from anywhere. This makes it the perfect side hustle for busy moms, college students, or anyone else with a hectic schedule.
Do you think you’re ready to start your own online consignment shop? Follow these steps and you’ll be on your way to success!
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