Do you enjoy the fast-paced nature of the resale business? High-end goods have a long lifespan when it comes to financial value, with many products even gaining in price as the items become rarer and more difficult to find. Launching your sneaker consignment store is a realistic goal that can be accomplished with the right roadmap in place.
You may be surprised to learn how easy it is to start a consignment store. With a smart sense of business and a willingness to be creative, many people can start a consignment shop with minimal investment on their part. The average consignment store costs business owners $2,000-$10,000 to start.
Sneakers Consignment Store
Suppose you are looking to have a successful Sneakers and Streetwear Resale store making an excellent profit from it and not run into problems. When you need to do reports, manage your inventory, or track the profit and loss of your sneaker reselling. In that case, we have a solution: Aravenda Consignment Software.
Managing a wide variety of shoe products can become difficult when handling multiple sizes, colors, styles, and even consignors. To successfully resell sneakers, you must be organized with your inventory and have good software.
Aravenda knows how important technology is to your sneaker and streetwear business. Living in an era where data drives better decision-making, increases efficiency, and reduces costs, using the right software is critical to experience these rewards.
Steps to Launch Your Store:
Finding a Location
The first step to starting your consignment store is to find a location to sell your items from.
Some people find that it’s beneficial to zone a portion of their home and turn it into their business. If that’s your plan, it’s important to contact your town administration office to make sure your home can be zoned to operate as a business as well.
If zoning your home isn’t an option, or you don’t have the space to start a consignment store in your home, you’ll want to purchase a small retail store. You can take out a small business loan to fund this portion of your venture. Just make sure to account for loan payments when calculating your monthly costs.
Or maybe you’re fully embracing digital transformation and wanting to run an online-only consignment store — which is completely feasible in today’s environment. In order to do this, you’re just going to need an internet connection, a camera, and a safe place to house your inventory — did someone say another up-and-coming garage start-up?
Getting Your Starting Products
Once you know where you’re selling from, the next step to starting your consignment store is to procure your starting inventory.
Starting With What You Have
What sets a sneaker consignment store apart from other consignment stores is the quality of the items you sell.
Start by going through your own items, looking for any high-quality and unique sneakers you may be willing to part with.
Many of the shoes, whether sneakers or luxury shoes are valued at high prices due to the limited production numbers that the designing company puts out. This leads to a limited quantity of shoes becoming social media stars and quickly gaining much fanfare — further driving the market price skyward.
Staging Your Space
Staging your space is an important aspect of making sales. Customers need to be able to move comfortably through your store and see each item. This means it’s important to keep your store clear and to have a system in place for returning items that aren’t selling so that they don’t clutter up your store.
If you’re running an online-only store, having a modern and intuitive website that provides a good user experience while shopping is essential. Inventory needs to be properly categorized, high-quality images should be displayed, product details are needed, and authentication should be proven.
Authenticating Consignment Store Products
When you’re marketing yourself as a sneaker consignment store, authenticating the quality of your products is a critical step. Selling counterfeit products and look-alikes can cause your customers to lose trust in you. An authentication service, like Get Check Check, can help you certify that your top items are worth their sales price.
Managing Your Inventory
One of the main aspects that set consignment stores apart from thrift stores is the fact that the people who bring in their items receive a portion of the profits. Typically, as the proprietor, you would earn 60% of the profits for an item while the original owner would earn 40% of the profits.
Keeping track of which items belong to which individuals and tracking your sales becomes a critical component of business success.
Most sneaker consignment store owners use software to help them manage their inventory and shipping.
Aravenda offers leading consignment software designed to help sellers and resellers manage their inventory and track their sales. Our software assists you in managing the inventory life cycle with accurate reporting on inventory, sales, and trends, helping you make better decisions on purchasing ‘new’ items and shelving less popular pieces. This platform integrates directly with Shopify for added convenience when connecting workflows.
Custom Software Solutions Built Exclusively for Sneaker & Streetwear Resellers
Aravenda Software has exclusive features for sneaker resellers:
- Product catalogs where you can autoload product details from custom and direct online catalog links
- Showing all consignors’ items under one shoe listing, with different colors, conditions, sizes, and prices on your website
- Seamless inbound shipping options
- Remote item entry and pre-approval processes
- Fully integrated options to Shopify payments for brick-and-mortar and online sellers
- Location fields used for warehousing, multi-state and multi-country shippers
As the sneaker resale market projects to grow over the next several years, consignment shops must invest in the right tools to optimize their resale results.