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Should I open myown Business

I'm looking to open my own business with a thifit shop. Okay my husband is in the military and the county we are at doesn't have a thifit shop well one and it isnt nothing. Don't get me wrong we have the money to do this but do you think it's a good idea with the way this world is right now?

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DashaDeGeorge

Asked by DashaDeGeorge at 9:45 AM on Jul. 22, 2009 in Money & Work

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Answers (10)
  • I would say right now is not the time to be starting a business. The working capital and start up cost would be too expensive when you should really be saving your money. Even though your husband is in the military anything could happen at anytime and you need your savings.
    Anonymous

    Answer by Anonymous at 9:49 AM on Jul. 22, 2009

  • i wish you well, if you work hard and want to do it, it will happen.
    as a thrift store and consignment shopper i can only add one bit of advice.
    don't just put anything on the racks and hope it will sell. treat yourself and your business as a respectable clean place and put items on display that you yourself would buy. no junk.
    people love thrift and consignment stores, but they hate the stink and wading through junk that needed to be thrown away to find one or two desirable items.
    any time is a good time to open your own business!
    jewjewbee

    Answer by jewjewbee at 9:55 AM on Jul. 22, 2009

  • This IS the time to start a business! Did you know that more millonaires got their start durring the dipression than any other time in American history? This IS the time to start a business!!! You are looking to open the perfect kind of place for this economy and any economy! People always need stuff cheaper than they can get it at the mall. That's why EBay does so well. But for people like me, I won't buy clothes or toys on Ebay. Thirft stores are the WAY TO GO!! IF you decide to open one, I would suggest you give it a spin! Add something to it that will make you different from any other thrift store. We had a lady here that opened one with a bakery case. She out sold all the other stores in the area. If your area is large enough you could even rent out space to different direct sellers to do "in store parties" on the week ends... That could really draw people in!
    SabrinaMBowen

    Answer by SabrinaMBowen at 9:58 AM on Jul. 22, 2009

  • Also, I would say, offer a small discount or coupon of some kind to people that donate their old items! This would drive people to donate instead of just tossing! And would give you a larger inventory!

    I also agree with the poster above me, make sure you are getting rid of the crap! If it's broken, dirty, or missing things - pitchit! Become more of a Thrift Boutique! And you will draw more people!
    SabrinaMBowen

    Answer by SabrinaMBowen at 10:01 AM on Jul. 22, 2009

  • owning your own business is a great way to have a dependable income... I would look at the cost to open, would you take things on consignment, rent of the space, insurance, city license, utilities... write down all cost to know what you will need to make to cover your bills... if the numbers are right and you can go without a profit for several months... go for it... in today's world people will be looking for a good deal so you might meet those needs.... keep the stuff you have in the store clean and in good shape.... junk will give you the same rep as you have about the other store in your town... your name is everything!
    BlessingsBegin

    Answer by BlessingsBegin at 10:33 AM on Jul. 22, 2009

  • Now is a great time to start a business. There are many gov grants & SBA loans available, especially to women. With the way the economy is, more & more people are shopping at thrift stores.

    Contact your local Chamber of Commerce for more info on SBA loans.
    motherofhope98

    Answer by motherofhope98 at 10:51 AM on Jul. 22, 2009

  • Actually, I think this would be the best type of business to start in this economy. People will start shopping at this kind of stores more and more now.
    robinann5

    Answer by robinann5 at 12:08 PM on Jul. 22, 2009

  • When deciding whether to start your own business , write up a business plan look at the start up costs and I agree, alot of people are starting to shop at consignment stores if they are clean and well organized. alot of websites have good information about starting a business. my husband started his own business so if you want any ideas just email me.
    biblebowlmom

    Answer by biblebowlmom at 1:08 PM on Jul. 22, 2009

  • I know people who own consignment shops and are doing great with the economy. The trick to starting a business is finding something that makes the economy work for you.

    People are buying more quality second hand because they don't want to spend an arm and a leg on those items.

    People are donating more because they need the extra cash. Most do a 40/60 split on commisions.

    Maybe once you have customers you can stick some Avon brochures by the register. People don't want to spend a lot on makeup and Avon's more affordable. I've found the most successful ones are kids and womens. Also, really check the clothes before you take them. They have to be spotless. Offer to donate them after the season for tax purposes. Start an online store for extra business and advertisement.

    I think you would do great.
    tcarter1981

    Answer by tcarter1981 at 3:19 AM on Jul. 23, 2009

  • I know how you feel because I want to open a gift shop some day soon, but the way a lot of finacially poor and distressed people with no jobs tend to get despirate and try to rob kill and steal everything they can I am very skeptical and undecided right now.
    Patience654

    Answer by Patience654 at 5:38 PM on Jul. 23, 2009

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