Tatiana is a business-minded writer who creates informative articles to share insights with other entrepreneurs.
If you have an eye for second-hand treasures and the heart of an entrepreneur, then opening a consignment shop is just right for you! Be your own boss while running a quality consignment shop.
Opening a Consignment Shop
If you’re not familiar with the idea of consignment, the idea is actually quite genius! As a business owner, you won’t spend any money on the items, but still make a profit. As a client, you have the service of someone selling your things for you, only forfeiting a percentage of the sale cost. As a consumer, you score some great deals! It’s truly a business where everyone wins! But how do you go about starting up?
For a consignment shop, you will want to find a good and busy location. Try to be in areas nearby but not too close to other second-hand stores as when people go “thrifting,” they tend to make a day of it by hitting all the local stores. Downtown areas or busy strip malls are typically ideal locations for a consignment shop.
While looking for that perfect location, it is important that you are also looking into registering your business with the state and again locally in order to be conducting business the legal way. Although you won’t require any special permits for this kind of business, you still need general business licensing and a business tax receipt displayed in your place of business.
As far as stocking the store goes, initially, you will need some things to attract business. Be sure to post advertisements in newspapers and on Craigslist looking for consignors, have a sign out by the road, and ask family! You can also keep a close eye on the Craigslist page for free items and snag those up, as a lot of times, the stuff is in perfectly good condition! Once the word gets out about your business, you’ll have people lining up wanting to sell their items.
One important aspect about opening a consignment shop is that you really need to stay organized! Consignors will need to sign a contract which protects both the business and the consumer. Each item that comes in that door should be assigned a unique stock number, in which you will need to record on a spreadsheet in order to keep track of the sale. Careless record-keeping can get a consignor in trouble and lead to an accidental breach of contract! You’re trying to build a reputable business; keep this in mind at all times, and your record-keeping should be spot-on.
How to Name Your Store
One last thing to think about is consignment shop names! If you plan on having the business around for a while, then you will want to have a good, catchy, brandable name! Here’s some tips to think about when brainstorming consignment shop names:
- Be specific: Not all consignment shops are centered around clothing. Some may deal strictly in baby and children items, while others may fancy antiques and vintage items. If you have a specific consignment business, and you likely will, reflect this in the name.
- Rhyme: Having a name containing rhyming words can make it a lot easier for customers to remember your name, thus drawing in more business.
- Your name: Consignment shops typically stay small and have a single employee, which would be you! Be proud and stand tall in the business you are building; there’s nothing wrong with that!
Now for some consignment shop names to get your gears turning:
Names for a Consignment Store
Tira's Treasures Consignment Shop
A New Life Consignment
Wee Bitty Kidz Consignment
Second Wind Consignment Shop
Second-Hand Heaven Consignment
Fashions in Time
The Closet Consignment Shop
Vintage Chic Consignment
In The Closet Consignments
The Consignment Chick
Out of the Closet Consignment
Up in the Attic
Attic Addict Consignment
The Attic Addict
Million Dollar Deals
Wonderful Wardrobe Consignment
It's Raining Discounts Consignment Shop
Closet Purge Consignment
A Step in Time Consignment
Deals N' Steals Consignment
Second Chance Consignment
The Kiddie Place Consignment
ABC 123 Consignment
Wish Upon A Star Consignment
Hidden Treasures Consignment
Over the Rainbow Consignment Shop
One Man's Junk Consignment
4-Wheels Auto Consignment
Lucky Duck Consignment Shop
Lucky Ducky Consignments
New Life Consignment
AAA Consignment Store
Choosing a name for a business is perhaps one of the harder things to accomplish, but it’s worth it to take your time finding the one that will ultimately become your business.
Small Business Success Story: DoubleTake Consignment Shop
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
mary h wilson on August 17, 2019:
Thanks, you have some very valuable Info, I Love Fashions and hope to have a fashion store one day
pauladaniel on June 11, 2019:
Thanks for your help. I like your tip about picking names that rhyme - because customers will remember more easily. Smart! I found more thrift shop name ideas here https://best4businesses.com/catchy-thrift-shop-nam...
Nathalie.email@example.com on May 08, 2018:
Thank you for the helpful and informative article. Stumbled across It while looking for 2nd hand store names. The advice in the article was brilliant and the name suggestions helped a lot to get my brain thinking.
Ade on September 06, 2017:
Thanks for this post. Really helpful
Lanecia Smith from United States on June 21, 2017:
Great Article, these names will be a big help to me as I begin my fashion business. Thanks for the info!
Marie Sandoval on March 13, 2017:
Ran into your site while searching for resale shop names... Looking to start my own business soon.