Children’s Resale – Where’s Your Help?

NextGen knows having reliable, hard working and trainable employees can make or break a business, which is why our Knowledge Base devotes an entire section to the topic of employees.  New owners, who choose to not use a business system and/or are not financially prepared for a new business, often approach the issue of hiring and training employees in a quick and hurried way, just to get it over...

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Children’s Resale: Part 9: How to Open A Children’s Resale Shop –Year One Stay The Course

Opening a resale business starts with planning the plan.  The first step is to secure a business system tailored for the children’s resale industry to guide your important decisions.  An all inclusive business system will guide site selection decisions, and is valuable the moment you begin the process, because planning in earnest starts long before you zero in on your location and sign the...

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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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Children’s Resale: Part 8: How to Open A Children’s Resale Shop: Are You Covered?

The following is an excerpt from the NextGen Knowledge Base business system, and taken from the Knowledge Base topic on property insurance and liability insurance for children’s resale stores. As I have written previously, the resale business has many parts and pieces that every serious children’s resale business needs to learn, apply and embrace.  A new start up can be an overwhelming...

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Children’s Resale – Ownership takes Experience

It takes industry experience to be an effective children’s resale owner.  Time is the best teacher and working in the business six days a week for at least a year is the most effective way to gain experience. There are no shortcuts because ownership is an acquired skill, it does not become automatic the day you sign a retail lease. How many times have you scattered the parts and pieces of a...

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Children’s Resale – Time and Money.

The following two quotes hit the mark when talking about the value of time and money in business. The first quote is attributed to famous college coach John Wooden who once exclaimed, “If you don’t have the time to do it right, when will you have the time to do it over?” And the second quote is from Founding Father Benjamin Franklin, who once wisely noted, “An investment in knowledge pays...

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Children’s Resale – How are you Managing?

Success or lack of success in resale does not happen by accident. Financial outcomes are directly tied to how the business is managed.  If your bottom line doesn’t reflect the potential of your location, take a look at how you have managed your business over the course of the year.  You may find you get the results you have managed to.  Sounds a bit like a riddle, but it isn’t. As an...

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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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Children’s Resale – is Business Tax Filing a Chore?

Administrative tasks are time-eaters for resale store owners that would rather be on the sales floor helping customers or in the buying center reviewing inventory for purchase.  Organizing piles of paper in preparation for filing State and Federal Business Taxes is one of those administrative tasks that can be a huge time-eater for owners without a POS, or with a POS that doesn’t export to...

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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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