Run a Clothing Consignment Store
Now that you've set up your shop and hired staff, it's time to start focusing on how you will run your consignment store. Accounting and paperwork are the foundation of your business. Now is the time to create a comprehensive system that measures your success and highlights those areas that you need to change, improve or eliminate.
Instructions
1. Design an accounting system to keep track of the money flowing in and out. Refer to your business plan; if you do not have one, write one. Determine how you intend to meet your goals based on past and current performance. Use an Excel spreadsheet to detail regular costs such as insurance, salaries, utilities, customer information and consigner information in an Excel spreadsheet.
2. Evaluate your rules, such as your rotation schedule and the required condition of the consigned clothing. Identify what conditions are acceptable to your customers. Detail these conditions in a consigner-agreement form, along with the rotation schedule, payment percentage, policy on non-retrieved goods and your markdown policy.
3. Evaluate your salespeople regularly. They should be friendly, stylish and knowledgeable about the designers you carry. With a small staff, it can be much harder to be critical; however, if one of your staff isn't pulling her weight, it's your job to show her how to.
4. Spend a good amount of time in your store. It saves you having to pay someone else. It also helps you to get to know your customers. Find out what clothing brands they are interested in and what styles or items they would like to see more of.
5. Consider selling some new items, such as wallets, jewelry and other accessories, that may complement the types of clothing you sell.
6. Evaluate your storefront. Ask friends and family to critique your displays, signs and décor. Make sure that your store isn't cluttered. Have someone you can depend on and refer to for help and business advice.
7. Look for ways to cut costs. Evaluate your store hours and determine which days are the busiest. Staying open on weekends and closing on Mondays and Tuesdays may result in more traffic and sales. Evaluate your utility usage. If an advertising method isn't working and you're paying for it, scratch it. Throughout the life of your business, always be looking for ways to cut costs.
Tags: Evaluate your, your business, your store, Clothing Consignment, Clothing Consignment Store