Is the second hand cloth business successful? If yes then what should be the business model for starting a thrifting store business? Read our blog.
How To Start A Second Hand Clothes Business
How to Start a Second Hand Clothing Business?
If you have not read our guide on what is a thrifting business? Then we would recommend you to read that first and then continue reading here because that blog will give you a complete understanding about what is used clothing selling business.
And if you have read our blog on it or know about second hand clothing business then keep reading this!
Why Start a Second-Hand Clothing Business?
Awkward question, right? I came here to take notes on starting a thrifting business, and you are asking why I am starting it. Well, the intention behind it is to understand your goal. There might be two primary reasons we are asking why to sell second-hand clothes:
- There is a gap in the market, and you really want to solve it.
- You just want to make a profit by selling second-hand clothes.
Both reasons can be approached with different strategies. I mean a long-term strategy for the first one and a short-term, money-focused strategy for the second one. In this blog, we will discuss the first one: a long-term strategy for running a thrifting business.
What Type of Second Hand Cloth Do You Want to Sell?
Traditionally, the fastest-moving items in this business are women’s clothes, children’s clothes, shoes, and other accessories. Men’s clothes are also quite popular but not as much as women’s and children’s garments. You can also focus on expensive designer clothes, but they need to be in a spotless state and have intact labels for you to be able to sell them at a high price.
“The quality of your clothes will decide your business’s success. Nobody wants to buy old or outdated clothes that are in a bad state”
Find Supplier of Used Clothes
As mentioned above no one will buy outdated clothes so here you have to spend time finding a supplier who can supply you used clothes in good condition.
Here you can approach international suppliers who might have a presence on e-commerce platforms like eBay and Alibaba. Obviously it will take time and skill to properly brand a used clothing retail store.
Since you are selling second-hand products, name your store which should communicate both the resale and clothing aspects of your company. Sounds easy, right? It’s not & it is even more complicated because you will want to make sure no one else has already branded your name ideas.
Way of Presenting Second Hand Clothes
Just taking the clothes out of the package and displaying them probably will not attract any customers. Your clothes need to be presented in a way which can generate interest from the public. You can wash them, iron and add a nice scent to make people notice them. Additionally, you can also buy some mannequins to give a little more personal touch.
Spying on Other Second Hand Cloth Business
Before opening the doors of your thrifting business, be sure you have an understanding of your competition and where your business will fit into it.
“Avoid collecting junk clothes, when you try to resell everything you find, it is easier for your business to fall into a trap of clutter”
Initially, if you have decided to focus on reselling fashion items, avoid collecting second hand books in the hope of selling them at a better price.
Initially, if you have decided to focus on reselling fashion items, avoid collecting second hand books in the hope of selling them at a better price.
Can You Partner With Other Thrifting Businesses
If you can not beat them, join them. It is a wise move to communicate or make connections with somebody who is already running a thrifting business.
Here the more wise move is to take advice from the owner of a thrifting business who resides far away from you locality where you are operating your second hand clothing business as they will give your genuine tips after realizing that you will not be stealing their local customers.
Finding a Niche
Pick top successful thrifting businesses and figure what is one thing common in them?
Our research says that- Each business has a specific niche they are fulfilling.
Even this is the most serious problem you will face initially in starting a thrifting business- Finding your niche & determining the practicability of your idea. Starting a right business at the right time is a common saying but what is difficult is following that advice.
Is your business idea practical? Before you invest time, effort & money, answer the following question to check if you are stepping towards failure:
- Will your thrifting business satisfy an unfilled need?
- Will your second hand clothes serve an existing market in which demand exceeds supply?
- Will your thrifting business be competitive based on its quality, price or location?
Analyze Your Market
Before starting a business, owners have to understand the target market dynamics and for that, you have to research it—a process that takes time and effort.
Market research will give you an idea about your potential customers and the demand for your product and service. The more thoroughly you research, the higher the chances of capturing a segment of the market.
Collect the answers of the given question and an answer of ‘no’ shows that your plan is weak and you have to rework until you find answer to each of the following question:
- Do you know who your customers will be?
- Do you understand their needs?
- Do you know where they live?
- Will you be offering second hand clothes that they will buy?
- Will your prices be competitive in quality and value?
- Do you understand how your business compares with your competitors?
- Will your business be conveniently located for the people you plan to serve?
If you have the answers, that’s fine; if not, keep looking. Otherwise, you may find yourself reading the same guide again in the future.
Conclusion
If you have carefully read this blog and have answers to all the questions then you are serious about your thrifting business.
However, there will be many things you will know only in the way after a hit and trial with your startup because running a second hand clothes business is a continuous learning process.
Research your idea and do as much as you can yourself but do not hesitate to take help from people who have expertise in the thrifting field.
Thanks for reading! If you find this information valuable, feel free to browse our other articles as well.
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Comments
Deepanshu Sharma
Hello