Minggu, 26 Agustus 2012

Consignment Boutique Start-Up

Consignment Boutique Start-Up

CEO/Co-Chairman Heritage Auctions Interviewer: David Lisot Steve Ivy runs the largest coin auction company in the world. In this exclusive CoinWeek interview he shares about holding auctions in Long Beach, his perspective of the role of auction in the numismatic market, the success of other auction categories, the long term goals for his company and his market outlook for the coming year. TRT 3:21 More news and video about coin collecting at: Coinweek.com

Heritage Rare Coin Auctions at Long Beach Expo

Opening a boutique or consignment shop can be a lot of fun combined with a lot of work! You can even combine the two by opening a consignment boutique that offers unique clothing. The main benefit of going consignment is that people bring you your inventory.

Before you begin, research your competition. Jot down what you believe are their strengths and weaknesses. You should fine tune your business plan and your advertising to play up your uniqueness. Decide what area of town your shop would do best in. Unique boutiques sometimes do well in older houses that have been rezoned to be commercial areas. Sometimes old strip malls that look run down are actually in an eclectic part of town and simply need a face lift to become a popular spot.

Draw in the right clients with your store front. Are you selling formal gowns? Then you might want to decorate with a lot of mirrors, chrome, gold and pink.

Or you can go for a more sophisticated feel and decorate with black, using a lot of spotlighting to accentuate certain pieces. If you are selling vintage hats and clothing, you may choose more of a "diva" theme using prints and colors that were popular in the era that fits with your clothing. You may decide to spend more money on a custom designed light-up sign to brand your image and make your store easier to fine.

If you are taking things in on consignment, remember to only accept items that really grab your attention. You have no obligation to take things off of people's hands that are too used or don't fit with your style. The pickier you are, the more unique your store will become.

Design your own price tags, have bags printed with you logo, get custom printed hangers and have signs printed to go with your theme and display your image.

Use interesting garment racks designed for boutiques. You may even decide to display the work of local artists. You can display this art for free if you allow the artist to hang a small stack of business cards from the wall near the art and put a price tag on the art. Touches like this will help you make a name for yourself and keep the store interesting.

The arrangement of your store should entice visitors to round every corner and discover something new. Use antique furniture to display unique items and offer interesting places for weary shoppers to rest. Continuously add decoration, move around displays and rearrange your mannequins. You can use sturdy metal hangers to add a sophisticated feel. You can use solid cedar hangers for coats that not only smell great and look beautiful, but also protect fabrics from musty smells and moths.

Once your boutique looks great, you can focus on running it. Look for easy-to-use consignment software. Choose your pricing based on auction site statistics. But mostly, use your own best judgment and your boutique will be truly yours.

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