One Man s Trash Could Be Your Treasure - 3 Rules Of Thrifty Product Sourcing
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One Man’s Trash Could Be Your Treasure: 3 Tips for Thrifty Product Sourcing
Summary:
Thrift shops and consignment stores are fantastic places to source inventory. They regularly update their stock, offering a treasure trove of items at unbeatable prices.
Thrift stores are typically nonprofit and rely heavily on donations, while consignment stores operate on a commission basis, selling items on behalf of their owners and returning unsold goods.
In general, thrift stores might be more open to negotiation due to their flexible pricing. While some online retailers worry about profit margins in resale stores, Kate Holmes, founder of Too Good To Be Threw (http://www.tgtbt.com), believes differently. She points out the limited local market of these stores, which allows savvy buyers to snag great deals and resell them online for a profit.
Holmes also highlights space limitations as another reason for bargain pricing. “They have limited room, so they appreciate moving items out quickly,” she explains.
3 Tips for Sourcing Products in Thrift and Consignment Shops:
1. Explore the Edges:
Focus on items that don’t fit a store's main profile. These are often placed around the edges and can be moved out quickly.
2. Visit Frequently:
Stock turnover is rapid, so regular visits can lead to finding unique treasures. Persistence is key!
3. Build Relationships:
Befriend shopkeepers. When they know what you're looking for, they can offer you deals or even set aside items you might be interested in.
Starting out? Check the Yellow Pages under consignment or thrift stores. Don’t hesitate to ask shopkeepers for recommendations if they don’t have what you’re looking for?"they’re usually happy to help connect you with other resources.
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