You can also choose to accept store credit for a larger sum. The owner keeps ownership of his item until it sells, if it sells. I assumed that all shops gathered their inventory by buying goods from people directly, or from donations. 2023 Wealthysinglemommy.com, Single Moms: Date, parent and make money like a mother. My children are 10 6 and 4 and thats exactly what I want to do. I own a consignment shop that sells everything and everything. Stuff Etc. Great list! Monday Saturday10am 7pm 30-item limit. Typically, when you sell clothes, accessories, furniture, or appliances via consignment, you take your item to the store or send them photos of larger pieces and the consignment shop will decide whether or not to take your item. Have you had any success with consignment shops? Corporate Office 2. Based on the 75% consignment, your proceeds are $112.50 . I got a total of $3.55 for my bag. They find stores like boring. Click on the store button to view ourfeatured products from the comfort of your home! Online reputation can be a good indicator of what to expect at that consignment shop. At its most basic, it simply refers to a venue that specializes in selling items (like clothing, shoes, handbags, furniture, etc.) We are so busy in fact, and sell item so quickly that we never stop taking items because we are too full., Perhaps you should mention that your information may only be about the area where you live and not ALL consignment shops. After a year there, we decided to build a new building on Keokuk St. Thanks guys. The most important thing to know about consignment sales is that they are only worth it if you have a large selection of things to sell. If you are going to open a consignment store, do NOT limit the type of consignment accepted. A product is created and will cost material and labor to manufacture and is priced in a way that also covers previous R&D costs and profit of the company, etc. Meanwhile, in Coralville, we began building a new store on Commerce Drive that was 36,000 square feet on 2 levels (our current location). The consignment percentage calculator then determines what percentage of the retail selling price should be paid to the consignee as their fee. My personal favorite is thrifting. People love to talk about themselves.so listen to them. However, our apprehension was quickly replaced within a couple years with an urgency to find a larger space. Especially if you live in a big metropolitan area or near a ritzy neighborhood. Required fields are marked *, Notify me of followup comments via e-mail. I only payout in cash. If you can get 70% to the artist, 30% to the shop, that split is also sometimes done. Mercari is an online consignment shop where you can sell various things - from unwanted clothes to electric guitars. RYK Posts: 35,651 . Profit Splits. At Stuff Etc we have all your favorite brand names at a fraction of the price! A great way to shop at Stuff is to pick up current styles, wear them for a season, then bring them back to Stuff as a consignor when youre ready for something new. Id love to find a place like this. The clothing resale platform Poshmark takes just 20% of every sale or $2.95 for any sale under $15. Valuing your goods at what you feel they're worth can help you to maintain a low-cost percentage. Join us April 15 & 16 for ou twitter.com/i/web/status/1, Stuff Etc WATERLOO now carries bed in box mattresses! ThredUp is an online consignment and thrift shop that features women's, kids', and maternity clothing along with shoes, handbags and accessories. While there nominal fees for placing your ad in a newspaper, magazine or online marketplace, its usually smaller than consignments or pawn shops. This definition encompasses both thrift stores and consignment shops, which are very different types of business. I cant understand this insanity. Consignment sales are a trade agreement in which one party (the consignor) provides goods to another party (the consignee) to sell. Answer: Its easier than most people think. As an apartment dweller its ideal! The Spruce / Ana Cadena. Some states exempt charities, others tax all resale operations. However, in general, most consignment stores have fairly slim profit margins - often around 10-20% . . I avoid consignment shops as a seller, but love them as a buyer! A few days before the sale, the organizers will open the doors for you to drop off your items. Seems so wrong. We never heard from them again. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. Or are you wanting to really recoup as much value out of it? Open a consigning account and start making money! Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved, Determine the location of your Stuff Etc consignor account, Be sure your email address is on your Stuff Etc account. Hope it did not get soiled, or, degraded. Craigslist is beloved, because its a completely free marketplace for selling your stuff. There IS a consignment shop nearby here in South Orange County, California in Newport Beach but i hear that they are snooty at buying your stuff (and many times, they have been known to not even take any of your clothes!) If the bicycle doesnt sell, then you take your items home for no charge. This increased our space to 3000 square foot (as seen here). Email address. Email address. that have already been owned and used. No, not really. Pays cash. In December of 2005 we opened a second Cedar Rapids store on the east side. October 15, 2011 5:50AM. Ive found a system that makes this a no-brainer for me. Stuff Etc Quality Consignment Stores are currently Iowa's largest department consignment store group. So the coin hammers for $100, Heritage collects $115 and pays the consignor $90. Generally, when they sell your bicycle, they take their 50% or $10. Our first storefront in Iowa City was on Highland Ct in a 750 sq ft building in a light industrial area where we shared our b uilding with a bar and a sheet metal shop. From there, different percentages are determined by what your items . After a year there, we decided to build a new building on Keokuk St. She doesnt charge a percentage, but people always give her one out of courtesy for hosting. It looks as though the market is pretty saturated? After 6 years we outgrew this location and moved into a new location on Pepperwood Ln that had 10,000 square feet. This means that both thrift stores and consignment stores can be considered second-hand stores, even though they are built upon very different business models. Household items must be clean and in working order. I was completely oblivious to consignments. Accepts some online sales. Overblown? Our customers and consignors were asking for more than children's merchandise, so we decided to branch out and make our store a department store. Note: This is a post from Courtney Baker, chief seller and long-time running wo-man of MvD. Im in the process of starting my own online consignment store. It was very informative. A book will resell for $10, so they pay you $5 for it. TheRealReal is another online consignment shop, but this one specializes only in high-end and luxury fashion and takes a 30-50% commission. Our years of experience have given us a great idea of what sells, and what doesn't. Please use this reference guide when preparing your consignment items for drop-off or pick up. They usually pop up for a weekend, 2 to 4 days, in random vacant spaces. Consign early to get the highest return on your items. Join us April 15 & 16 for ou twitter.com/i/web/status/1, Stuff Etc WATERLOO now carries bed in box mattresses! For example, if you bought a $20 toy for your child, then it should be priced at $6 to $10 . I sent out a few boxes of gently used baby clothes and received boxes of gently used baby clothing in the sizes I needed AND a box filled with new plus size clothing. Great post! When youre ready to start consigning with Stuff, youll need to visit one of our stores in person to complete a consignor application to get approved and have your online account created. Although with Craigslist, Ive been negotiated down alot (that time i sold my xbox and all my games for $90 bucks because the buyer didnt bring enough money even though he had agreed to my listed price prior.. i was naive and didnt know that this is a common excuse people gave to sellers while buying through craigslist). As an expert on divorce and gender, Emma presented at the United Nations Summit for Gender Equality and multiple state legislature hearings. For clothing, you need to have high-end brands. In other words, to sell here, you'll pay The Real Real between 80% and 15% of your item's value simply to sell it on your behalf. Consignment is an arrangement in which goods are left in the possession of another party to sell. For the longest time, I misunderstood the world of second-hand shops. The tax form for non-cash charity is 8283 http://www.irs.gov/pub/irs-pdf/f8283.pdf (instructions here: http://www.irs.gov/pub/irs-pdf/i8283.pdf). Don't undersell yourself or . Platos closet isnt considered a pawn shop but a resale shop. Totally worth it! Stuff Etc takes 1 tote of your gently used items Monday thru Saturday (and 5 larger items that will not fit in our totes). Generally, it is best to price your items 50% to 70% less than the retail price. Early Bird Tickets allow you twitter.com/i/web/status/1, Corporate Office Please note that individual stores may vary at the managers discretion and this is not intended as a comprehensive list. I collected a bunch of clothing from my family to submit to our local consignment store. There are a few different ways that businesses can use a consignment percentage calculator. Then, once you start consigning, well keep track of all of your sales for that store in your online account. We can reuse those plasti twitter.com/i/web/status/1, 12 Days before our BIG 1/2 PRICE SALE!! That's an extraordinarily high commission rate that makes selling on eBay or Poshmark look cheap by . You own the product, in their shop, and are responsible for stocking the store shelves. The costs and procedures drastically vary from platform to platform. It's a highly trafficked store, and very close to us. Ive even heard customers ask other customers where our bathrooms are. Some shops offer you higher percentages if you take in-store credit instead of cash. The percentage of the sale that consignment shops vary depending on a wide variety of factors, such as the item, season, and overall sale trends. I give the consignors cash and 99 percent of the time they take the money and buy something in the store with it. I accept designer clothing from Old Navy type of brands. Then, once you start consigning, we'll keep . A 20% gross profit seems very low to anyone operating a business. Answer: Stuff Etc is seasonal and to stay competitive with all other retailers we take what you see at your mall. I lucked out because I found a woman who had recently lost weight and was using ThredUP to get rid of her old clothing and they were exactly the size I needed. They buy your gently used mens, womens and childrens clothing and accessories with a premium if you choose store credit. Mary Sundblad started Stuff Etc in 1985 in a . You can expect to be charged a 25% to 60% commission, which the shop collects as its profit. Other consignment shops can operate in a variety of niches, such as furniture or home furnishings. They are the biggest rip off Ive ever seen. 21 apps for selling stuff online or near me in 2023. We have current openings on our sales floor, processing and pricing areas. Bring them to us!! What is really upsetting is the amount of really good items they simply CRUSH, and throw away in huge garbage containers!! In spite of the lousy location for retail, our business started to grow. Simply put, if it looks good and tastes great, people will pay for it. After all, if they cant resell it, they cant make a profit! At Stuff Etc our bathrooms are always located near our Changing Room areas. Shop all day long with your black bag and save 20% on all full priced items that fit inside the bag, Thursdays:Additional 10% off all clearance items that fit in the bag. You're providing a valuable service. The standard rate for a first-time consignor with a small consignment (minimum $5000) is a 10% seller's fee and 15% buyer's premium. ThredUP accepts women's clothing, purses, shoes, accessories, and maternity wear. Terms of Use and Privacy Policy, about Coronavirus and Working from Home: Small Business Tips On How to Survive the COVID-19 Pandemic, The Ultimate Consignment & Thrift Store Guide, The Trading Assistants Assistant: How to start a part-time job or full-time consignment drop-off business on eBay, Cash In The Closet! As the owner, youd pay a small fee to the shop as compensation for them selling your item. Where do you sell your stuff second-hand? The store only accepted garments made within the last three years. Our years of experience have given us a great idea of what sells, and what doesnt. Popular chains of consignment stores include: Platos Closet is a nationwide clothing consignment franchise with locations in 50 states. You then collect a percentage of sales once per month. Stuff Etc raised a total of $350 K in funding over 1 rounds. Click here to see list of stuff we dont take. To get started with consignment you can read the resources we have online . If the merchandise sells, the store owner pays you less the agreed percentage and other costs. There are some items that we just can't take for consignment at Stuff Etc. Ive found these types of shops to be inconsistent in how much they pay you. Here's a list of what to cover: Inventory. Their website says that theyll pay you 20-40% of what they are selling it for (which is low to begin with) but I sent in a bag with 80 items in it and they only accepted 8 of them and paid me 10% of what they resold the items for. Instead of purchasing items from sellers to then resell, thrift shops are dependent on donations, which they then sell on to consumers. You can also sell via online platforms DiamondsUSA for all diamond jewelry, and CashforGoldUSA for gold, silver, and platinum jewelry, coin collections, scrap and bullion. Sunday11am 5pm. . In July of 2005 we moved our Iowa City store into a 24,000 square foot space in a strip mall at Pepperwood Plaza (once a Best Buy). Remember, all these businesses share a desire to purchase high-quality, clean items in good condition that are currently in style. This is per item and paid to me, by seller. Usually, the consignment store chooses how to display and price your item. Other consigned items, including but not limited to appliances, electronics and tools, must be in good working order. We started out in 1985 with the name of Kids Stuff and Kountry Kreations. Corporate Office They may never sell the clothes, but it doesnt affect your payout. 50% to the retailer. When the payouts from other second-hand shops would be tiny, I prefer to just donate those items. | Retro Metro, When you relinquish ownership of the physical possessions, Whether someone helps you sell your items. However, there has been a rise in ecommerce-based consignment shops over the . The payouts decline from there, with rates dipping to as low as 40% for any item less than $145. Think you could answer our 5 most commonly asked questions? Country decor was on its way out, so we dropped that completely and decided to change our name to Stuff Etc. We just ask that all drop offs are done half hour before we close that way we have enough time to process your items correctly. You may decide to visit a few consignment stores near you to see if you can make more money. Each Stuff Etc store takes the last 2 years style of clothing and accessories. Have you gotten your Early Bird Ticket yet? You can read more about this in one of my earlier post Finding the Right Auction House to Sell Your Antiques. If you are starting your own thrift store do you have to collect and pay sales tax? 3. This definition encompasses both thrift stores and consignment shops, which are very different types of business. We rented a 21,000 square foot space on the west side of Cedar Rapids. Jewelry stores and antique shops both may purchase your estate and vintage jewelry either for a flat rate or on a consignment agreement. Keep yours unique and interesting. Consignment means that a store owner will take your product and instead of buying it, they will pay you for the product when they sell it. 1. There are actually several nationwide chains that resell goods under pawn-shop policies, like Half Price Books and Platos Closet. Hopefully these tidbits will help you decide which second-hand marketplace is the best option for you. Why Consign your Quality Used Clothing or Housewares with Stuff Etc? I also sell on eBay with kids coats, kid shoes, and video games which sells well on there. In other words, a consignment sale is an agreement in which a third party is entrusted with selling goods on behalf of the owner. In spite of the lousy location for retail, our business started to grow. You can be fashionable on a budget! By comparison I cleaned out my closets and have already made $200 with far fewer items from Facebookseriously check it out! The RealReal offers value mostly to sellers of high-priced luxury items: Its commission structure favors watches that retail for about $3,000 or more with its highest payout percentage of 85%. Similar to Platos Closet, Buffalo Exchange is a clothing consignment brand with locations throughout the United States. In general, stores split the sales anywhere from 50/50 to 40/60 or . One last tip. Something is very suspicious with their operation. Some only buy designer labels, others could care less about labels, and others that only shop the clearance racks. If the item is less valuable or a consignment shop has already turned you down, then a thrift shop will likely be willing to accept it as a donation, which will be better than the item ending up in a landfill. I actually loved ThredUPs old system. THEY ARE AMAZING! In jewelry sales, the most common consignment percentage is 60/40 (60% of the money from the jewelry sale goes to the artist, and 40% to the shop or gallery). Ive been googling how I can tell from the label myself, but all I can find is the RN number which is not indicative of the year the actual garment was made. Jewelry Consignment Percentage by: Rena. It certainly didn't start that way, nor was it ever conceived that it would grow so dramatically. Mercari is a resale app that features everything from men's, women's, and children's clothing to electronics and sports equipment. The selling sites on Facebook are worth selling childrens items or what else you want to sell on there to get some extra cash. There are some items that we just cant take for consignment at Stuff Etc. Makes me sick to see babies toys, cloths, little shoes, high chairs, and TONS of housewares, curtains, furniture etc.. thrown in trash. Pays cash. In this brief guide, we'll cover what a consignment is, as well as look at its pros and cons. See what employees say it's like to work at Stuff Etc. thats my opinion cuz for being a non-profit they sure be making a hell of a lot of money knowing they are millionaires nd probably donate maybe 0%-30% to whatever foundation they are claiming they are raising money for. The consignment shop pays you a flat rate, upfront. Consignment shops are for-profit businesses that specialize in reselling items. Time-saving convenience. uilding with a bar and a sheet metal shop. Instead, Im happy to give it to a needy family! Coralville, Cedar Rapids, Clive & Dubuque Tuesday thru Saturday 10 AM to 7 PM, Iowa City location accepts consignment Tuesday thru Friday from 10 AM to 7 PM and Saturdays from 10 AM to 5 PM, Waterloo location accepts consignment Tuesday thru Saturday from 10 AM to 5 PM, Davenport location accepts consignment Tuesday thru Saturday from 10 AM to 5 PM, Ankeny location accepts consignment Tuesday thru Saturday from 10 AM to 5 PM, Consignors may bring in one 15 gallon bag or box, Unaccepted items will not be given back to consignors, Unaccepted items can be returned to the consignor; must pick up within 48 hours after receiving item list email.
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