Perhaps the only good thing about the current recession we are facing in this country is that it has brought back the era of bargain hunting. There are opportunities to be had for both buyers and sellers. This is where consignment sales come in. In this post, learn how consignment stores work and whether they present a viable money making opportunity for you.
What Does Selling on Consignment Mean?
Selling on 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. You own the product, in their shop, until it is sold. With consignment agreements, you and the shop owner work out a deal for a percentage of the sales in advance. The reason that the store usually gets less is because you, the seller, are taking all the risk.
Consignment Tips for Businesses and Individuals
- Know what is likely to sell: How much do you know about the item you are selling and the potential that exist for it to sell? This knowledge will help you to choose items to place into consignment that are likely to sell quickly. Before handing your items over to a consignment store, consider whether you’d buy the same item used or not
- Clean your items: Nowadays, everyone is super cautious about germs and virtues. Buyers want to make sure that what they are purchasing is clean. Thus, check over your items for stains and other marks. You will fetch more money for your items if they are in good shape and are freshly washed. They will be rejected if they are not in good condition.
- Read the contract: Make sure you go over the profit-sharing agreement you will be entering into. It’s important to know the details of any contract you will be entering so that you aren’t disappointed by the outcome and so that no misunderstandings arise between yourself and the consignment store owner.
- Determine the store’s match with your products: Make sure that the store you are dealing with is a match for the products you will be placing into consignment. This will improve your chances of selling your product greatly.
Consignment stores can help feed the public’s hunger for seeking out bargains. It can also help store owners as well as the businesses that are trying to sell their products. In other words, consignment selling is a win - win situation. If you are a buyer and are looking for a sneaker consignment store in Colorado Springs area, Hype on Site has vintage footwear such as our Jordan 1 Mid Laser Orange/Black sneakers for sale up to 25% off.