How NOT To Run Your Store!

I was on Facebook this evening, and like many days on there, I was quickly looking over a couple threads on a collectors page. 

What page, items, etc is not important in this case.  

The memory it triggered is the important thing.

Within this little story is a lesson that should resonate for all store owners, especially those of you in the "junk biz". 

Frankly, it doesn't matter if you run a second hand shop, thrift shop, antiques store, collectibles store, flea market booth, operate just a flea market table, run a perpetual garage sale, etc, etc....in any of these cases, PLEASE DO NOT be like the owners of the store I am about to describe!

* * * * * * * *

About 15 or so years ago, a fellow dealer and I were enroute to an antiques show a couple provinces over. We did a little buying along the way, stopping in at the odd shop we knew about or happened to come across.

We tended to looked through the yellow pages, brochures, etc for shops to potentially check out, while killing a little time after supper, sitting in the room at the hotels/motels we'd book into for the evenings.

Anyway, one place we  found, possibly in the yellow pages, we decided to check out.

We finally found the place, and when we walked in we had both thought:

 DAMN, this place is packed!

We have/had very different interests & specialities; John being into high-end glass, "true antiques", quality porcelain, sterling silver, Sheffield plate and that sort of traditional fare,  and I myself was into country antiques, nostalgia, toys, advertising, etc. 

Despite our divergent interests, there was some damn cool stuff within the scopes of both of our fields of interest; scattered all over, mixed in amongst mediocre stuff and a smattering of junky, shelf filler sort of fare.

   

Luckily, pretty much everything in the store was tagged. We hate when things are not priced.

But, there was one odd thing we quickly noticed about the tags.

They only had code numbers on them...not a price!

 We asked about a couple things each, and quickly realized why the place was packed, and still had cool stuff all over....

Every time we asked about the price of an item, relaying to them the number written on the tag, if we could even read it, (considering how faded, dusty, and smudged many of the tags were) the 3 owners of the store (all family, I think) huddled around a stack of semi-loose pages, all dog-eared, stuffed in a book/binder. Flipping through it, and finally selecting a page, presumably connected with the number we gave them, they whispered amongst themselves, furtively looking up at us during their conversation..  

Then, eventually after much whispering, page flipping, and glances in our direction, they would finally quote a price....

Which was easily 3 times what the item was worth....

After going through 3 or 4 of these agonizing episodes, some of which took 10 minutes or so, we looked at each other with eyes rolling and walked out. We have never gone back, and no one we know whom we have told the story to has ever darkened that store's doorstep, purposely, that is.

Now, does this sound like your shop? 

If so, I have some top notch advice you need to consider. 

You have a couple options on how to make money in this sort of scenario....because you sure as heck are not making a single dime right now. 

Option 1: Close and lock your doors. Then, go out and get a  9 to 5 job.

Option 2:  Go outside, tear down your store sign. Flip it over and with a can of spray paint, in big letters, write the following word:

MUSEUM

 Then, underneath that, write:

Admission $1.00  

This way, you might actually make a buck.

Bargains For Me, Bargains for You!

 ________________________________

I admit it, I have a heck of a time passing up a bargain.

 

I can pass up a bargain, but when I see that it is priced well below value, I have to stop and think...

Sometimes thinking about the item much longer than others.

If I am "smart" that day, I will leave many of those "bargains" on antique shop showcases & where they are sitting on thrift store shelves, and yard sale tables.

The reason being is that I end up figuring out that the item really is not a bargain. 

Sure, the item is priced at $5, and well should be worth $50. 

However, it is only be worth $50.00 once it is sold for that....

And I have to clean it.

And store it.

And haul it around to a dozen antiques shows.

Wrap it.

Unwrap it.

Clean it again.

"Sell" it...IE: market it to a potential buyer, talk up the piece, etc.

And then find out they have one identical and were only interested in pricing out theirs.

*Sigh*

And start again....and on and on and on, 

Until such time that someone comes along, and is willing to buy it.

But only at a discounted price....

Sold! 

Finally!

But only for $30....

And I had to absorb the tax.

Now, did I realistically make any money on my $5.00?

Nope.

I always need to remind myself that my time is worth money, and so is my knowledge & experience.  I am where I am because I have "paid my dues" over many years.

I have tons and can get tons of inventory. I find stuff where others can not. I find the things at bargain prices, without being dishonest with people.

 I have many sources, connections, etc.  

Add that to my broad scope of knowledge, curiosity, and ability to get interested in vastly different subjects. 

I can go to an auction where the competition is fierce for the advertising items, and where it seems that there will be no bargains. I will end up bidding on a lot where the auctioneer is desperate to get a bid, and thanks me for taking it away for $2, and people in the crowd think I am nuts for buying that box lot of trash.

I smile and say to the auctioneer:

  "You're welcome...and ya owe me a beer."  

My smile is not entirely due to my joke, it is due to knowing there is a  $500 item in amongst the junk.  It is not an advertising piece, but  Staffordshire Pottery. Despite a couple small chips, it depicts unusual subject matter, and will be a quick flip for $250 to a fellow dealer, after taking some pictures and dropping him an email.

 I am good at what I do. 

And I work darn hard.

I am not rich, cash wise.... heck, I'm not even "well off" financially.


 Life happens, and it has "happened" in such a way that I am not exactly where I wanted/planned to be by now, at my age.

 Then again, being retired by 40 was my plan. 

Yes, I was extra optimistic at 20!


Anyway, the point is I have tons of inventory (literally!), and really do not want to deal with it all. I am tired of the grind of wrapping, unwrapping, etc, etc, etc, etc.

Yes, there is LOT$ of money to be made on that stuff.  However, I like..(wait just a minute...scratch "like")...I  PREFER a "quick flip", a fast sale, a bulk sale, a whole pile of stuff being sold at once to one person, etc, etc, etc....and I don't care that an item/items go out at  wholesale figures. I'm not greedy, I don't need, nor want top dollar for everything.

I have tons of inventory, and really need to get rid of it. I have no time to put it all out on shelves, clean it spic-and-span, package and price it, etc, etc.

It is time to cut my losses....the merchandise is fine, salable, and not junk.  But, all the bargains I bought and really are not bargains once I "do the work." Combine that with my market access. It is tough here, really, to sell many things.   

 I can buy some wonderful art glass at a heck of a bargain, but when it comes to selling it in the shop....well, that bargain is taking up space....and slowly becomes something that is costing me money. Yes, when the item takes up space for things that will sell quicker, that slow seller begins to cost you $$$$.

The odds are I will sell 20 old tin signs before anyone looks at the Orreffors vase.....grossly underpriced at $200......no one, that is, except the little old lady who looks at the price and gasps...or brings it over to the counter with a toonie ($2) in her hand.
So, my bargain hunting eye and years of buying, bidding & rooting around all over has caused an accumulation of stuff.....lots of  inventory.  
Darn good inventory (heck, GREAT inventory) if it gets to the right market.

What I am getting to here is thus:

 I am soon going to be offering much of my inventory at WHOLESALE and BELOW WHOLESALE prices.  

The catch is, a buyer has to buy a large lot. From a 2' x 2' boxful, to a gaylord container full, to a truckload.

Instant inventory for someone to sell at their store, flea market, auction, on eBay, whatever.  Cash in my pocket, potential profit in the buyer's pocket.  Did I mention I also hate doing eBay sales of anything these days?


PLUS, not only do I have vintage stuff galore, I also have "new" stuff, modern merchandise, army surplus stuff, and more. 

I did say I had a hard time passing up a bargain!  

So, soon you can buy lots bulk from me. 

I did the "heavy lifting"
 

 The "windshield time"
 

 The dirty work,

The dangerous work,

The loading & sorting

 

And not to mention  accumulating it into larger quantities of "like" items...all the stuff you'd spend tons of time doing, when all you want to do is sell, sell, sell!

I make some money for my work, you will make money for your work. 

Let's see how it works out!

  If you are interested in this opportunity, "Friend" me on Facebook.

And keep watching this blog, too!