The highest should be 20%, but many will reduce that to 10%. People post a picture and price of their item, people comment interested or Next (for next in line) if they would like to purchase. Typically, the consignor receives a percentage of the revenue from the sale (sometimes a very . Iowa City, Coralville, Cedar Rapids, Waterloo, Davenport, Ankeny, Winner of Parents magazines Best of the Web and a New York Observer Most Eligible New Yorker," her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. Determine your stock agreement by discussing how many you're trying to sell per design and at what price. As a warning, though, this type of second-hand selling can also flop if you dont do any research. Consignment savvy people in Eastern Iowa make thousands of dollars, consigning their high quality clothing, furnishings and more with Stuff Etc with eight locations, we make it convenient for you to turn your Stuff into cash. But depending on the shop or gallery, the consignment percentage may be anywhere from 80/20 (80% to the artist and 20% to the shop) to 50/50 (the artist . While some people may use the terms thrift shop and consignment shop interchangeably, they are in fact very different beasts. In other words, to sell here, you'll pay The Real Real between 80% and 15% of your item's value simply to sell it on your behalf. Save my name, email, and website in this browser for the next time I comment. We never heard from them again. Also, the dealer may be a poor credit . You then collect a percentage of sales once per month. The pro to a classified ad is that you have more control over your item, but that also means you have more decisions to make and more responsibilities to get it sold. That is what I currently continue to do, but there are so many things that might(yesI said might) move better in a store. The consignment shop pays you a flat rate, upfront. These are quality sites that do not traffic in fake bags: There are likely furniture consignment stores near you aka vintage furniture stores, antique shops, antique malls, used furniture stores that accept antiques, vintage furniture, household items like china, silver flatware and art. You dont have any control over how much your item sells for. I sell my gently used or new clothes at Hut 8 in They except more of my clothes than platos closet. The company bills itself as The Selling App, a place for users to list items for sale that they no longer want or use. Save 10% on all ne twitter.com/i/web/status/1, We all have that pile of plastic bags we dont know what to do with! For the longest time, I misunderstood the world of second-hand shops. In December of 2005 we opened a second Cedar Rapids store on the east side. There are some scenarios (like donating an old car) where the tax-deductible receipt is a lifesaver, but I rarely actually use it. | Retro Metro, When you relinquish ownership of the physical possessions, Whether someone helps you sell your items. Corporate Office In other words, the supplier entrusts . Email address. Now that you know please share the knowledge next time someone asks you! Terms of Use and Privacy Policy, about Coronavirus and Working from Home: Small Business Tips On How to Survive the COVID-19 Pandemic, The Ultimate Consignment & Thrift Store Guide, The Trading Assistants Assistant: How to start a part-time job or full-time consignment drop-off business on eBay, Cash In The Closet! It is common for clothing consignment shops to pay modest up-front fees for quality items in good condition. Consignment prices; Any area that deals with selling furniture; You need to figure out how your product fits into the current landscape. To get started with consignment you can read the resources we have online, then find the Stuff Etc store nearest you. 50% to the retailer. See what employees say it's like to work at Stuff Etc. I have used eBay for years more as a buyer than a seller but for confident buying/selling online you cant beat it. 2818 Commerce Drive Remember that they may charge a buyer's premium of up . If I had known that they would do that, I would have donated the items or kept them back for a yard sale and priced them at a quarter a piece and made over $15 more. Thank you for your comment! In 2000, we decided to add a second location. If your product is a "hot" item or helps drive extra traffic to that retailer, you can start at 60/40 then maybe move to a 50/50 or even 40/60 split. It certainly didn't start that way, nor was it ever conceived that it would grow so dramatically. We rented a 21,000 square foot space on the west side of Cedar Rapids. Mary Sundblad started Stuff Etc in 1985 in a . Consignment shops, on the other hand, are for-profit businesses that purchase items from their original owners and then resell for a profit. You have no idea how long I have searched for ideas on how to get rid of my stuff and make a profit. How many of you thought this would be our most commonly asked question? Half of my clothing were passed on because they were to old. Usually, the consignment store chooses how to display and price your item. Learn more in our post all about what to do with your used wedding dress. I dont have to do anything, just bring it up there. No, not really. be sure to split the load so that you are under $5000 per organization per dayotherwise you will absoultely need an appraisal of your stuff and will NOT be allowed to file your taxes electronically. Its important to point out that some second-hand shops operate solely based on donations. Consignment shops typically take a 40% commission, which is considered a 60/40 split. A fair consignment percentage ensures both you and the shop owner are profiting with the sale of one of your products. Jewelry stores and antique shops both may purchase your estate and vintage jewelry either for a flat rate or on a consignment agreement. When we moved from Arkansas to Texas, we left the baby bed my son had outgrown with a consignment shop. Thankfully, there are quality buyback businesses, including some in your town, as well as reputable online sites. They do not purchase the items they sell. 2. I only payout in cash. If your product is a "hot" item or helps drive extra traffic to that retailer, you can . I say this very lightly; but technically, its 50% of what theyd sell it for. The Value of a Solid Personal Financial Plan, Coronavirus and Working from Home: Small Business Tips On How to Survive the COVID-19 Pandemic, State-By-State Guide to Starting a Business, Wholesale Directory, Merchandise Suppliers and Drop shippers, How to Start a Daycare or Child Care Center: State-by-State Licensing Requirements. Markup can be over 100%, but your example was flawed. For most items, especially clothing, we ended up with more money from the deduction than we would have from a garage sale or consignment shop. This fee can go as high as 50%. Nd I will see items from Target donating to Goodwill look at Targets price which will still be on the items nd when Goodwill prices its many a few dollars difference These Stores Suck They are for the needy to be able to afford things that they cant normally buy in a Macys or whatever .!!! If you've got a valuable piece of furniture, going through a consignment shop means you'll reach buyers looking for well-designed and made furniture and willing to pay for it. Stuff Etc has an overall rating of 2.6 out of 5, based on over 25 reviews left anonymously by employees. ThredUp. Tradesy. You might also consider donating your old appliances to a charity or local thrift store if you are unable to sell them. Its an awesome set up. Best Online Consignment Shops. Salaries, reviews, and more - all posted by employees working at Stuff Etc. Apply today! Have you had any success with consignment shops? This is per item and paid to me, by seller. Consignment savvy people in Eastern Iowa make thousands of dollars, consigning their high quality clothing, furnishings and more with Stuff Etc with eight locations, we make it convenient for you to turn your "Stuff" into cash. 2818 Commerce Drive They buy gently used clothes and accessories for teens and young men and women. Come to think of it, my mom kind of runs a consignment shop with her yard sale! Click on the following links based on the store your account is located. You can expect to be charged a 25% to 60% commission, which the shop collects as its profit. AND dont forget items in the store after 60 days are 50% off and after 90 days they are 80% off. If the merchandise sells, the store owner pays you less the agreed percentage and other costs. After you drop off your tote leave the rest to Stuff Etc! I cant understand this insanity. Id have rather donated in my community as well! In general, stores split the sales anywhere from 50/50 to 40/60 or . Our website also has a coupon or two on it each month PLUS we provide discounts when you use your Stuff Etc recyclable shopping bag. One of these days I will do it and might even blog about it, lol! Consignment shops pay one of two ways: flat rate upfront or percentage of the sale price of your item if and when it is sold. Keep this in mind when pricing your menu items. There are also online furniture consignment platforms such as Everything But the House, Chairish, and 1stdibs. The consignment store pays you a percentage of the sale price of your item if and when it is sold. Check the shop out. I know! If there was a Stuff Etc trivia game, how well do you think you would do? For clothing, you need to have high-end brands. Consignment shops are locally owned businesses with a mom-and-pop feel. I'm just posting to clarify for other readers, not just 'picking'. However, I think the pawn shop description is wrong. I have a very stereotypical picture of pawn shops. I sent out a few boxes of gently used baby clothes and received boxes of gently used baby clothing in the sizes I needed AND a box filled with new plus size clothing. If 1 tote just isnt enough then we do have the option for an appointment, which allows you to drop off 2 totes. Consignment is NOT your regular retail job! According to the site, there are more than 100 million items for sale on the platform, which consists of more than 60 million community members. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. Stop by a Stuff Etc store today and see how we . Accepts some online sales and drop-offs. In some cases, you are paid a fixed sum upfront for any items the consignment store accepts. You have to pay $4.95 to get a big bag to put the clothes in (which covers the shipping costs for the bag) and then fill it up. The Spruce / Ana Cadena. From there, different percentages are determined by what your items . Poshmark. It takes quite a while to see results from many of these shops, so its not a great idea if you need cash pronto. Ive even heard customers ask other customers where our bathrooms are. Consignment shops typically operate in one of two ways: While consignment shops are for-profit businesses, thrift shops are typically non-profit organizations run by charities. I think that consignment event is well worth it because I made over $200 selling all of my kids gently used items theyve out grown and dont use anymore. October 15, 2011 5:50AM. Considering both the consignors and buyers as our customers, everything we do at Stuff Etc is focused on complete customer satisfaction. Continue to 9 of 10 below. Seems so wrong. Ive had many items sell in 3 minutes or lessits like a virtual yard sale. Something is very suspicious with their operation. Especially if you live in a big metropolitan area or near a ritzy neighborhood. I might be missing out on a couple of bucks from that item, but Im avoiding the hassle of selling it while also helping a good cause. The concept of online consignment is the same as in-person, but items are mailed in via a special mailer, assessed by the consignment company, and you are offered a fee, or your items are rejected and (maybe) returned. 2818 Commerce Drive | qazwilson, How Can I Sell My Homemade Stuff? If you sell your clothes to a consignment shop, you'll probably make significantly less money than you could if you opted to sell your clothes from an online marketplace like Poshmark, eBay or Mercari. Today I just put the right words in the search engine. Listings can be easily shared on social media - and the app allows you to track your sales. Other consignment shops can operate in a variety of niches, such as furniture or home furnishings. Thanks guys. Your search may yield consignment shops that are exclusive to your city, but you may also find national consignment shops near you. Fun, fun, fun ! Whether youre looking for ways to expand your wardrobe on a budget or cash in on nice clothes you no longer wear, consignment stores can be a solid option: Most consignment stores offer a broad selection of second-hand casual, business, and evening threads at much lower prices than youd find in your local department store. The most popular online social media networking site includes several ways to buy and sell items on Facebook. Ive found a system that makes this a no-brainer for me. Were celebrating our anniversary this month. Thanks for Being Part of the Man Vs. Debt Community! I do think theyre better than consignment shops. They may never sell the clothes, but it doesnt affect your payout. Answer: We absolutely do! 30-item limit. Facebook. In 2010, we sold our very first franchise in Waterloo and opened our second franchise in Davenport in 2011. Do I think youre getting the best for your money? A book will resell for $10, so they pay you $5 for it. YES, truly this is the most commonly asked question at Stuff Etc! It is a personal choice for how you want to get rid of your used valuables but it can make sense to outsource the sale of clothes, furniture, jewelry or other valuables to a retailer who knows how to advertise, display and sell. ThredUP accepts women's clothing, purses, shoes, accessories, and maternity wear. Stuff Etc headquarters are located in 2818 Commerce Dr, Coralville, Iowa, 52241, United States, Stuff Etcs main industries are: Retail, Auctions, Retail, Stuff Etc appears in search results as Stuff Etc, Stuff Etc Quality Consignment, Stuff Etc Waterloo, Get Free Access to Stuff Etc Contacts Info. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. I had done it under what I think was their earlier system you ship a box directly to someone and it was a huge loss for me. It's a highly trafficked store, and very close to us. Each Stuff Etc store takes the last 2 years style of clothing and accessories. In general, the going rate for eBay consignment is 20 to 40 percent of the end sale price. Join us April 15 & 16 for ou twitter.com/i/web/status/1, Stuff Etc WATERLOO now carries bed in box mattresses! The consignment percentage calculator then determines what percentage of the retail selling price should be paid to the consignee as their fee. Also, I recently started selling my kids gently used clothes, toys, games etc at the kids exchange (a huge consignment event) in Raleigh NC twice a year. Valuing your goods at what you feel they're worth can help you to maintain a low-cost percentage. It looks as though the market is pretty saturated? Especially Savers. Auctions are hit and miss. With other types of sales, you are paying some of your profit to businesses to get the job done. Mercari is a resale app that features everything from men's, women's, and children's clothing to electronics and sports equipment. Buffalo Exchange is an example of a brick-and-mortar consignment clothing shop that now offers online, mail-in sales. The consignee often takes a commission or fee and then the remainder of the sale price is paid to the consignor. Like ThredUp and Poshmark, Mercari is an online consignment shop. Consignment goods are typically sold through consignment stores, which receive a percentage of the sale revenue (sometimes a very high percentage) as a commission. Your item will have a harder time standing out, but there are literally hundreds of shoppers ready to load up their cars. Calculate A Fair Consignment Percentage. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. Our shop in in the busiest plaza and usually has a line at the checkout. Simply provide your zip code, and it will yield Google results for consignment shops in your area. But like Courtney said now I know! Ill have to resist the temptation to look through that whole bicycle catalog. For example, if you bought a $20 toy for your child, then it should be priced at $6 to $10 . Review the list of stuff we do not accept. Revenue is usually split 60 percent to the store and 40 percent to you, although everything is negotiable. Household items must be clean and in working order. Craigslist is creepy, so I dont sell on that site. Pays cash. Those with sales of less than $1,500 will get a 55% commission, while items with an original resale list price below $195 may bring in less. Mercari is an online consignment shop where you can sell various things - from unwanted clothes to electric guitars. You drop of your donations at the store (although some offer a pickup service), and theyll give you a tax-deductible receipt based on the estimated value of your items. A 20% gross profit for a retailer would be reduced to probably less than a 5% net profit. I sell books, pottery, sandwich grills, small furniture, jewelry, and whatever else. Most furniture consignment shops' percentage is either a 50:50 or 60:40 split in favour of the consignor (the item's owner). She doesnt charge a percentage, but people always give her one out of courtesy for hosting. Phone: 515-964-4444. When the share is less than expected, just inquire as to why. . ThredUp pays up to 80% of the sale price, but the site is very picky and reviewers complain that very high-quality, in-style luxury brands are reject (or worse, rejected and then posted on sites like ebay). Have you gotten your Early Bird Ticket yet? Once the salesman has a confirmed offer on your RV, they'll call and see if you accept. Then, once you start consigning, we'll keep . The percentage of the sale that consignment shops vary depending on a wide variety of factors, such as the item, season, and overall sale trends. If you have a special piece or a big collection, they may charge you nothing. Keep yours unique and interesting. All eBay /PayPal fees associated with selling the item are to be paid by me. Plus when you are sneaking out that toy that is so obnoxious it makes you cringe every time your child plays with it or turns it on for me it is a Big win just to get it gone without the drama. 2818 Commerce Drive Second, you can list your item in one of Facebook's "Buy and Sell Groups.". | qazwilson, Pingback: How Can I Sell My Homemade Stuff? They are intense, because hundreds of people will be thumbing through the items throughout the weekend. I got a total of $3.55 for my bag. She in turn earns her 50% of the retail sales price when an item is sold in her shop. In spite of the lousy location for retail, our business started to grow. Stay-at-home mom divorce: Follow these 3 steps to prepare . After your item sells, you receive a portion of the selling price, usually 40 to 60 percent (I receive 60). Selling a $500 gun at a 5% net profit puts around $25 in the dealers pocket. However, our apprehension was quickly replaced within a couple years with an urgency to find a larger space. Making sure they were clean, recognizable brand names and called the store to check what they were accepting. (Some places do charge a small activation or consignment fee.). Swap.com - This is one of the top-rated online consignment stores. Online consignment typically pays via Paypal, check or bank transfer. Online reputation can be a good indicator of what to expect at that consignment shop. I always felt like it was safe meeting people in a public place with buyers and sellers from Facebook . You can always cash out too but if you love a deal theres always something great to add to your wardrobe or home from Stuff Etc. Carousell is a platform that allows users to sell electronics, fashion, and even properties! ThredUp is a leading online consignment store for womens and childrens clothing. The costs and procedures drastically vary from platform to platform. I havent received the greatest price for my items, but thats made up for with how little effort I can put in. Note that in all cases, the real consignment percentage represents the net figure that both the goods owner and the consignment shop take in after . The RealReal offers value mostly to sellers of high-priced luxury items: Its commission structure favors watches that retail for about $3,000 or more with its highest payout percentage of 85%. The week before the sale, youll prepare your items with tags specific to your sale (most sales have a website with full information). I find that I can send less-than-perfect items to a consignment sale that wouldnt be accepted in a consignment shop. At Around the Block, our consignors receive 60% of an item's final sale price. If you are going to open a consignment store, do NOT limit the type of consignment accepted. However, before you go into consignment, you should take note of the following: 1. Stuff Etc. As an apartment dweller its ideal! Its standard for you to drop off your items for a 30-, 60- or 90-day cycle. Check your local Google listings and reviews. They are definitely easy, especially if you have designer clothing. I also was completely unaware that online marketplaces like craigslist, andeBay are also considered second-hand shops. 1. Ask around or check your local Yelp and Google listings. In fact we have a section on our website that shows everything we take year round, no matter what month it is! We sold a few childrens dresses at a thrift shop. Once they accept, you drop off your items at the consignment store, receive a receipt, and then leave. My question is How does a Thrift store like Savers, Goodwill, etc. TheRealReal reserves the right to price and discount your item at will which of course cuts into your bottom line, but may also increase the chances of a sale. Do you have a preference or experience finding better deals at thrift shops vs. consignment stores? The percentage of the sale that consignment shops vary depending on a wide variety of factors, such as the item, season, and overall sale trends. Each Stuff Etc location reserves the right to return or recycle potential consignments: including clothing not in current fashion or in poor condition (fashion more than 2 years old; clothing with tears, missing buttons, stains, etc.). Read on! Don't underestimate the importance of the service you provide . Do I know anyone whos successfully used this platform. Courtney, If you agree, then theyll pay you from the cash register. 23 Stuff Etc reviews. Military Discount:Are you currently in the military or a vet? Consignment sales are short, but intense events. Furniture accepted everyday of the week during store hours with no appointment needed. Some shops offer you higher percentages if you take in-store credit instead of cash. Monday Saturday10am 7pm Our customers and consignors were asking for more than children's merchandise, so we decided to branch out and make our store a department store. Consignment shops are typically retail stores that specialize in a particular type of consumer product. The division may be less because other fees may have been applicable. Most everything I offer for sale moves quickly and for a good price. Based on the 75% consignment, your proceeds are $112.50 . That's an extraordinarily high commission rate that makes selling on eBay or Poshmark look cheap by . Stuff Etc raised a total of $350 K in funding over 1 rounds. Consignment stores are for profit. Its standard to earn 60% of the sale price as a base rate on your sold items, but youll also pay a $10 to $15 entry fee. Draw up a contract outlining the terms . Stuff Etc Quality Consignment Stores are currently Iowa's largest department consignment store group. Click on the store button to view ourfeatured products from the comfort of your home! We are so busy in fact, and sell item so quickly that we never stop taking items because we are too full., Perhaps you should mention that your information may only be about the area where you live and not ALL consignment shops. Then, Lord forbid it SELLS after x time. We can reuse those plasti twitter.com/i/web/status/1, 12 Days before our BIG 1/2 PRICE SALE!! How can find out what year/season the garment was made? The answer to the question of how much cash you can make from consignment shops depends on: First, you can use our tool below to help you find a consignment store near you. In this brief guide, we'll cover what a consignment is, as well as look at its pros and cons. Bring them to us!! What Should I Do If a Domain Name Is Already Taken? After all, if they cant resell it, they cant make a profit! My motto is you know what you might find, and people love that. There can be extra costs such as transportation fees, photograph fees, reserve fees, and buyback fees if the item is unsold because of a reserve. This marketplace will advertise your item to anyone in your vicinity. Country decor was on its way out, so we dropped that completely and decided to change our name to Stuff Etc. Theyll show up soon. The selling sites on Facebook are worth selling childrens items or what else you want to sell on there to get some extra cash. I own a childrens consignment store and we are very busy and have a few thousand consignors. Craigslist is beloved, because its a completely free marketplace for selling your stuff. In my opinion this article incorrect. Stuff Etc. The difference between each one comes down to: Consignment is when a shop sells goods for an owner. If you can get 70% to the artist, 30% to the shop, that split is also sometimes done. Shop all day long with your black bag and save 20% on all full priced items that fit inside the bag, Thursdays:Additional 10% off all clearance items that fit in the bag. In 2003 we decided to venture into the Cedar Rapids market. Newspaper spaces can cost $15 or more for an ad, while the online marketplaces can cost $1. SENIOR DAY:Every Wednesday in our store is Senior Day! A great way to shop at Stuff is to pick up current styles, wear them for a season, then bring them back to Stuff as a consignor when you're ready for something new. Monday - Saturday 10am -7pm. I personally prefer a consignment sale over a consignment shop, because I get immediate results. Make EVERYONE feel special and welcome. Household items must be clean and in working order. Is it better for you to just be done with it? I regularly donate my baby clothes to local shelters (obviously, not a second-hand shop, but a non-profit). So from March to June we are accepting summer merchandise. Create your store. At the end, they offer a quote for the cluster of items theyre interested in. I always wanted a run down on consignment shops. Stuff Etc Profile and History. Technically it's not a consignment shop, but you can find gently used clothing and accessories for a pretty good deal. Selling your gently used, quality items can be a good idea if: For the vast majority of used clothes, jewelry, household and other items, selling directly to a thrift store, buyback site, or directly to the seller is usually a better deal because it is quick, less work, and you can easily get rid of items you do not need or want. I accept designer clothing from Old Navy type of brands. The items no longer belong to you. Occasionally, I take womens clothes to consignment, but it generally only yields $30-$40, its hardly worth it. Thank you! I collected a bunch of clothing from my family to submit to our local consignment store. Some only buy designer labels, others could care less about labels, and others that only shop the clearance racks. To get started,read our consignment guidelines, see whatwere accepting now, or drop off 1 tote without an appointment Tuesday Saturday. These posts can help you understand what you own and how much it is worth: Learn about the top online jewelry auction sites. People often under-estimate thrift stores, but with some patience, you can walk away with some great items! It turns out there are four types of second-hand shops consignment, pawn, classified and thrift. Now it's time to figure out the details. In December of 2005 we opened a second Cedar Rapids store on the east side. Pingback: How Can I Sell My Homemade Stuff? A 20% gross profit seems very low to anyone operating a business. After 6 years we outgrew this location and moved into a new location on Pepperwood Ln that had 10,000 square feet. An item costing a retailer $5 with 200% markup would retail for 5 + 5*2 . Instead of purchasing items from sellers to then resell, thrift shops are dependent on donations, which they then sell on to consumers. Consignment means that a store owner will take your product and instead of buying it, they will pay you for the product when they sell it. is our area's consignment super store where you can count on brand names at re-sale prices!
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