How To Open a Children’s Resale Business- Are There Requirements?

A children’s resale store – done right – requires industry knowledge, requires year round planning, requires understanding the dynamics of the location, requires the application of retail principals, requires substantial money, and lastly – requires time and hard work. If none of these “requirements” scare you off, or present nothing new to your thinking about the children’s resale...

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Who sets your Prices?

In retail businesses, it’s safe to say that prices are invariably set by owners be they individuals or corporate, or by managers using pricing conventions provided by the ownership.  This only makes sense as pricing is the revenue side of the bottom line. When NextGen started working with resale stores, we expected to find the same.  Much to our surprise, pricing in a number of children’s...

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It’s never too late to start pricing right, but far better to price right from the start

The NextGen Pricing System suggests the best price for an item, specifically, the price at which an item can be expected to sell within 75 days.  Initially, NextGen obtained these data from a limited number of stores around the country.  But in the 2 yrs since, the data base has grown to include stores in most  states and provinces in North America, most of which had been in operation for...

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Children’s Resale – Taking Risk?

Children’s resale is one of those businesses that attracts dreamers into thinking that resale is risk free because “how hard can it be?”  Such dreamers want to be independent and in control and pride themselves into believing that they can do it alone.  They fool themselves into thinking that because recycling children’s goods makes so much sense all they have to do is open the door and...

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Children’s Resale – Here’s the Scoop!

Today I thought it might be a value to post the Preface to NextGen Resale Systems Knowledge Base.  The Knowledge Base provides a business system/guidance for independently owned resale stores from start-up thorough Grand Opening Day and beyond. When clients ask, “what does it do?”  I always respond with “here’s the scoop on what you will find in the Knowledge Base.” Preface The...

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They know what they don’t know…and what they do

NextgenResale consults with hundreds and hundreds of aspiring business owners each year. The words we’ve long used to characterize the mentality of the vast majority of these aspirants is “they don’t know what they don’t know.” Their level of knowledge is limited, level of naivete, high.   This is understandable.  The knowledge and tools required to be successful in any business...

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Price changes in children’s resale occurring at a record rate—Why?

    NextGen currently tracks the pricing on over 4,000 children’s brands in order to keep its suggested resale prices in tune with the children’s retail prices.  This involves the timely identification and valuation of brands—new, old, rising, fading, fallen; and distinguishing the many labels continually introduced to appeal to different markets.  It’s a demanding task in...

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Auto-Pricing: a Resale Point of Sale (POS) System MUST

“A Resale POS system without auto-pricing waddles like a duck on land, with auto-pricing it streams like a duck in water” NextGen Knowledge Base POS Auto-Pricing is a must-have tool for resale businesses today.  It instantly suggests the resale price based on brand, condition, currency, features, composition, … . It dramatically cuts the time required to price.  It assures that prices are...

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Smart resale pricing – are you building customer loyalty?

This blog continues in the spirit of the “operating by guessing” theme that was addressed in an earlier post, and is specifically prompted by the inconsistent pricing found during a recent survey of independent resale/consignment stores. How is it that nationally recognized jeans in identical style and fabric are featured at 3 different price points in the same size in the same store?  Or...

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Consignment Software Review

NextGen Resale and Consignment  is a service bureau providing know-how, software and support to owners of resale and consignment shops.  NextGen has grown from supporting stores selling used children’s apparel, toys and equipment  to stores selling juniors and women’s apparel and accessories. NextGen clients buy outright and accept items on consignment.  They sell new merchandise and...

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