Work through the sections in any order that you want, except for the Executive Summary, which should be done last.
Opening a consignment store can be an excellent business move for the right individual, but before you open your doors you need to know how to write a business plan for a consignment shop. The business plan defines the scope of your business, lays out how you are prepared to succeed and details the relevant experience you bring to the new venture.
Business Plan Template Microsoft Office has some excellent templates available for free downloads. Other popular office suites also include templates that can be customized to create business plans.
If you wish to complete your business plan the old-fashioned way, you can obtain business plan templates from your local Chamber of Commerce or from the Small Business Administration office in your area. Financial books at the library and bookstore are also good sources of business plan information and examples.
List Your Experience Make a list of your experience in the retail business.
You can make this list mentally, but it is often helpful to get it down on paper. Include all experience you have with buying and selling the type of items you plan to offer at your consignment store, including time spent as a sales clerk or buyer. In order to be successful, the owner of a consignment clothing store, for example, needs to have a discerning eye and the ability to pick up on new trends in the fashion industry.
Likewise, the owner of a consignment furniture or accessories store needs to be able to spot the trends and buy the furniture that is most likely to sell quickly.
Executive Summary This section should state the purpose of the business, including the proposed name of the operation. The section that follows should state how the store will differentiate itself from the competition, that is, what makes your consignment store different from the thrift store down the street.
Offering types of products not normally found in the second-hand market can be a big help. Marketing Strategy How will you advertise your consignment store?
What techniques do you plan to use? It is important for lenders and others who review your business plan to see how you intend to market your business and introduce it to the community.
Organization and Management Provide information about the ownership of the new business, including the names and titles of all business partners and officers. Also provide a brief but thorough overview of the start-up company.
The overview should include details about the products the store will sell, where it will get its merchandise and where it will be located. List your management experience, focusing on experience that is relevant to the consignment business world. List the number of years of management and relevant retail experience you bring to the new enterprise.
Service or Product Line List the types of products the consignment store will offer. Many consignment retailers limit their product lines to high-end designer clothing and accessories, for example, in an effort to attract a wealthier and more discriminating clientele.
Provide a brief overview of the products you already have in stock, as well as your plans for obtaining quality merchandise on consignment.
Market Analysis Include information on any market analysis you have completed, including details about any existing consignment stores.Joining local and national consignment organizations such as the National Association of Resale and Thrift Shops may also hook you up with potential consignors.
Once you research, start writing a strategic business plan. Your strategic business plan includes your business’ mission statement, goals, a procedures plan and forecasted financials.
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At a glance you'll see what's working and what you might want to change. Free Retail and Online Store Sample Business Plans. Whatever type of retail store you're starting, a good business plan is essential.
Get ideas from this assortment of sample business plans for clothing stores, online stores, e-businesses, gift shops, eBay, art galleries, and other retail businesses.
Tobacco Retail Business Plan Kiowa Smoke. A Sample Consignment Shop Business Plan Template Are you about starting a consignment shop? If YES, here is a complete sample consignment shop business plan template & feasibility report you can use for FREE.
consignment shops, donate, goodwill, resale, savers, thrift shop, thrift stores, value village, valuevillage, village DBA DBA stands for “doing business as”. This means that, for example, if you are a small business owner and you name your business “Ultra A1 Clothing Fashions,” that name is a “doing business as,” name.
When making a consignment shop business plan it is important to seek out as much information as possible. Research ought to be the first task on your list. Even a web-based search can provide you with info on the consignment market and its profitability in your town.