1. Research the consignment store market to get an understanding of the competition, pricing, and consumer demand.
2. Establish a business plan to outline your goals and strategies for running your store.
3. Decide on a location for your store and secure the necessary permits.
4. Acquire a resale license and register your business with the appropriate state agencies.
5. Invest in inventory, setting aside funds for purchasing merchandise as well as cost of goods sold (COGS).
6. Develop a customer acquisition plan to attract customers to your store.
7. Design a point of sale system and pricing structure.
8. Develop policies regarding returns, exchanges, and refunds to ensure customers are satisfied with their purchases.
9. Establish an online presence by developing a website, creating social media accounts, and utilizing other forms of digital marketing.
10. Set up a bookkeeping system for tracking sales and expenses.
11. Stay organized and up-to-date with inventory counts and customer relations.
12. Create promotional strategies to attract customers, such as offering discounts or loyalty programs.
13. Hire employees to run the store, manage inventory, and assist customers when needed.
14. Maintain an ongoing relationship with customers to ensure their satisfaction.
15. Monitor the business regularly and adjust plans accordingly.
16. Evaluate the success of your store and make changes as needed for future success.