There are many advantages in choosing to run a business centered around preloved items rather than ones that are new. Not least, it is a far more ecologically friendly and sustainable approach. However, setting up a preloved business does need to be done in the right way to ensure the maxim opportunity for success. A topic you can read all about in the post below.
Define your market
First of all, you must define the market you will be targeting with your preloved pieces. This is a vital step for several reasons, the first being that it will guide you when looking for and investing in stock. Additionally, once you have established your market you will be better equipped to choose the selling platforms you will use, as well as target your marketing and advertising.
For example, high-end collectors will want pieces from at least 20-30 years ago and that were made by established or now-defunct brands. That means if you spy an Ercol table at a knockdown price in a charity shop, it’s usually well worth snapping up for resale at a profit.
However, for a younger clientele looking for pieces inspired by retro trends, more recent work created by smaller brands may be just as acceptable to them. Just as long as the piece fits in well with the aesthetic style they are searching for.
Operational details
Once you have your market defined it’s time to get all the day to day details of running your business sorted. This means choosing the selling platforms you will use from Etsy and eBay among others.
It also means working out how you will pack items for postage, as well as how you will deliver them to your customers. The good news is that second hand shipping is easier than it’s ever been with many services offering pickups from your own home. Some even ship preloved items as a way to fill up any extra space on journeys that are already being made, something that makes even the delivery of your item more sustainable.
Stock
After you have sorted the operational details of your business it’s time to collect some stock. For many second-hand business owners, this is one of the most enjoyable activities, because they get to use their skills to track down pieces that will sell for the best profit.
Of course, you must set out enough time to search for stock when running a preloved business. This is because unlike when selling new items, there are no guarantees you will find something that will sell each week. With that in mind dedicating at least a day a week, every week for this task is a smart idea.
Marketing
Lastly, do not forget the power of marketing, even when it comes to selling preloved items. In particular, paying to promote your products within the platform you are selling them on can work well. Although, using things like Google ads may also be worth the investment for some of your higher-end pieces.
