Eco-Elegance consignment in Portland, ME

Consignment shops are inherently a green business because they give used clothing, accessories, musical instruments, sporting goods, etc, a second life. For those with the right resources and a knack for knowing which products will sell, a consignment shop could be a wonderful business opportunity.

1. What is a clothing consignment shop?
Consignment shops take gently used goods from some customers and sell them to others. Revenues from the sale are split between the store and the customer who originally owned the product. In this way, consignment shops give another life to products that might otherwise go to a landfill. One of the very attractive aspects of running a consignment store is that your entire inventory costs you nothing. You do not pay the owner of the article until it has sold ... in other words, until you have money in your hand for exactly that item. You are simply providing the marketplace for buyers and sellers of gently used items.
Consignment, resale and thrift shops number in the 25,000 range in the U.S. alone. The combined industry value is roughly $1.5 billion, and the industry represents a real opportunity for shoestring startup entrepreneurs who have a passion around a particular hobby or lifestyle such as fashion, games, sports, etc. Clothing consignment shops typically take in and sell higher-end, fashionable and current or vintage clothing, shoes, and accessories. You can make an aspiring Cinderella's dream come true with beautiful clothing and shoes at a price she can afford.

Ones we like:
Eco-Elegance - Portland, ME
Green Goddess Fashion Consignment - Vancouver, BC
Chloe's Closet - San Francisco, CA

2. What required knowledge or skills are necessary?
There are no formal educational or training requirements for this business, but an awareness of fashion trends could come in handy.

3. How much money is required to start?
$-$$ (on a scale of $ to $$$$$)

Green Goddess Fashion Consignment in Vancouver, BC

4. What is the income potential?
$$-$$$ (on a scale of $ to $$$$$) 5. What is the best location for a clothing consignment shop?
Urban (best), semi-urban (very good), suburbs (very good), rural (fair/poor).

6. Three best questions to ask yourself to find out if this business is right for you (if you can answer yes to all three, this business might be for you):
# Do you have an eye for fashion, and know what's likely to sell and what's not, based on current trends? # Do you have a reservoir of fashionable clothing and accessories in your closet and your friends' closets that you'd like to use as your first offerings in your store? # Are you a creative and enthusiastic networker to get the word out about your business?

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Interested in starting one in your community? Where do you begin? What permits do you need? Who is your target customer? How do you find them? What is the best use of your limited advertising dollars? What's the best way to attract a great employee or volunteer? What does an average day look like? What strategic tips do veteran eco-entrepreneurs suggest for startups like you?

There's a lot to think about, but rest easy! Our mission is to help you succeed, so set up a free half hour consultation with Scott Cooney, GBO's Principal, and author of Build a Green Small Business (McGraw-Hill). You may also order a free (S&H only) copy of Scott's book by clicking on the picture of the book cover below.