Start a thrift shop for $900
In her instructional manual "Too Good to be Threw", Kate Holmes, Sarasota, FL, outlines the basics of bootstrapping a successful thrift shop, something she herself did in 1975 when fired from her job.
Kate recommends a couple of basics:
• Start with a minimum of 1200 square feet and room to expand
• Choose a location visible to both foot and car traffic
• Be sure to have an easy-to-locate address
• Adequate parking is also key
• Make sure you have good signs to attract attention
• Pick a neighborhood with businesses that will attract your desired clientele
Kate says she started her business with just $900 to her name and was "in the black" within six weeks and a month later could support herself completely with her new business.
Some of the key elements of Kate's bootstrap startup? She used her $900 to:
• Pay one month's rent and security deposit on her store location
• Pay a deposit for her utilities
• Buy racks, tags, sales books and receipts for her store
• Pay for promotion including postcards, fliers and ads in two local newspapers
Kate kept her budget low by using:
• Grocery bags for merchandise and scraps of paper for price tags
• A door on 2X4's for a sales counter
• A stool and some shelves borrowed from her dad
• Pieces of furniture from her apartment as display props
For more of Kate's thoughts for a bootstrap thrift shop startup, be sure to check out her posts at Too Good to Be Threw.com.
February 19th, 2008 at 7:16 am
One very important thing when starting a business (and especially when you’re a little short of cash) is resourcefulness. Sometimes, you have to make do without the usual ingredients. If you don’t have X, then you must substitute Y for it. In fact, such a trait can even lead you to become more successful than you would have been had you possessed everything.
November 10th, 2008 at 6:51 am
Hi,
If you like this post, please join me at my new blog “How to bootstrap your business” by following the link at the top of this comment.
January 15th, 2010 at 7:19 am
My friend and I live a small VT town and really want to start a cafe/thrift store. We have our own homes and families in our 30/40′s and my friends mom used to have a shop in the house she lives in but we want a cafe too…also Big thing is money making it and having some to start a business…We are poor of course and only work part time….
February 26th, 2010 at 9:38 am
i have been selling things from my home. started renting a booth at a craft mall a couple years ago. still have lots of stuff, still want to start my own shop. what i have has outgrown my home and i need somewhere to open a real shop. is $900 a reasonable estimate on what i can start my own shop with?
November 29th, 2010 at 1:09 pm
I am intersted in the book.
January 3rd, 2011 at 5:06 pm
I would love to get the book.
March 12th, 2011 at 3:14 pm
I look forward to hearing more…Mary