Rags To Riches
For consignment clothing entrepreneurs, everything old is profitable again.
By Marcie Geffner
Consignment clothing shops used to be ragtag stores where
sellers unloaded discarded garments on people who simply
couldn't afford to buy brand-new clothing. But today's
consignment shops are something new--attractive stores stocked with
kindly worn designerwear that looks just like department store
merchandise, except for the discount prices.
"[Consignment] stores have become very popular as our
society has become more familiar with recycling," says
Christine Jobes, vice president of member services for the National
Retail Federation in Washington, DC. "[Consumers have also]
become very practical about shopping, and [consignment] is just
another form of value-oriented shopping."
Consignment stores differ from secondhand stores in that the
garments actually belong to consignors--individuals who ask the
shop to sell the clothing they no longer want, whether it's
because they've grown a size or two or need to make room in
their closets. When the garment sells, the consignor and the shop
owner split the profit (typically 50-50). The beauty of this
arrangement for start-up business owners is, there's no need to
pay for inventory until it's sold. As a result, you can open a
shop with very little start-up capital.
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Most consignment shops sell women's suits and designer
sportswear, but menswear and children's clothing can be found
as well. Some shops also sell such accessories as hats, belts,
costume jewelry and shoes.
Marcie Geffner is a freelance writer in Los Angeles.
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