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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Children’s Resale – Who’s Your Customer? What’s Your Market

Typically, the children’s resale customer base includes family, friends and caregivers shopping for kids from the time they are born until about 8 years of age.  Yet-to-be moms shopping for maternity clothing may also be customers. What do I mean by “market?”  The market of a children’s resale store is a function of the economy, shopping culture, habits, and demographics of the region,...

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Resale/consignment – are you sugar coating?

In the December 2013 issue of the NARTS Network Newsletter, respected consignment and resale consultant Kate Holmes, writes in her column “Growing Your Business With Kate” that resale/consignment/thrift and charity shops do not have to follow a rigid business formula because the “right way” to run and operate such a business is the way that “accomplishes your goals.”   She goes on...

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Resale pricing – when do low-end brands pay?

What’s your strategy when it comes to pricing bargain basement big box clothing?  At least one of the Children’s resale franchisors prices them very low, e.g. Faded Glory shirt for $1.50—that’s a scant 20-25% of retail.  How low do you go?   Do you have a resale pricing strategy? Because low-end brands enjoy such low margins, should you be highly selective and keep them to a...

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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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Resale Pricing..What’s Fair..What Works?

One thing I’ve learned in many years of being in the children’s resale business is that the buy price and the sell price of used merchandise are highly dependent on store location and average customer disposable income.   As an example, it is NOT unusual for two stores 20 miles from one another to sell the same exact pair of jeans at different prices.  One will sell at close to retail...

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