How To Open A Children’s Resale Business – Trial and Error?

A customer walks into a children’s resale store and immediately starts to dig in and shop, while at a different children’s resale store a customer will slowly flip through the hangers and leave. Why?  In one case the store was well presented, well stocked, appealing and colorful. In the other, the store was disorganized, dingy, sloppy, pricing inconsistent, and a poor selection of resale...

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Children’s Resale – How to Open a Children’s Resale Business-Where’s Your Store?

  You want to open a store, have the necessary amount of  money, now what? “They just built a new subdivision and added a grade school, a children’s resale store is exactly what this community (neighborhood, city, town, village) needs!”  This sounds like a reasonable assessment, however in all actuality it’s just perception. The picture you really need is the accurate one painted...

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Children’s Resale – How To Open a Children’s Resale Business – Where’s the Money?

  Because resale is a business concept that deserves to be as vigorously funded as any other serious business venture, why then do many resale entrepreneurs minimize the critically important role money has in establishing a long-term successful business?  When consulting with such folks, I sometimes hear the following: “all I have to do is open the door – the business will sell...

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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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How to Open a Children’s Resale Store in 2015

I read on January 15, 2015 that big box retailer Target announced it would close all of its operations in Canada; totaling one hundred and thirty three stores. I was quite surprised to learn that some of the issues that led to the closings were operational. How could this be? Isn’t Target a well-oiled, well run retail machine? The shelves were frequently empty because “Target grappled...

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Children’s Resale – Questions?

Should I be open in the evening? What about holidays, should I close early or be open at all? Should I close for a family vacation? Should I be open on Sunday? Should I do print advertising? What about direct marketing, is it worth it? Resale owners are not naturally equipped with answers on how to establish such policies for their retail/resale stores. In today’s Internet environment, I have...

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Children’s Resale – Want to Sell?

Recently I worked with a client who was preparing to sell her very lucrative children’s resale business. I recommended that she prepare her documents by referring to NextGen’s “what to pay” cash flow guideline to help guide “how to price” the sale of her store. The “fair” price (be that purchase price or for sale price) is pegged to the net cash flow. What the owner is able...

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Children’s Resale – Franchise or Not?

NextGen says some business models lend themselves nicely to the franchise model, not so for children’s resale. A franchise will get you started, hold your hand and then dictate for the term of your franchise agreement contract what you can and can not do in your store, no matter what your market will bear or requires. If it’s not in your contract you can’t do it. Most of the nationally...

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