I want to open a consignment shop..?

I need good advice for this. I am wanting to know what all I need to start it. And also as a broke person with a clean slate of credit, am I able to get aloan and how do I go about doing this? Any word on either subject helps. Thanks!

Not to dissuade you, but:
Once upon a time this was a unique idea. Opening a consignment store today comes with set of challenges that you may need to take into serious consideration.
It used to be that you got something special for a discounted price at a resale shop. Because there is so much competition, it makes it that much harder to market your business. Unless you plan to specialize in a particular area such as high-end clothing, or vintage wear, chances are the stuff will just sit there. Why? Because retailers have been forced to reduce their rates and are now comparable to deals you may have gotten in a consignment store in the past. People are buying new items for a lot less....
If you open a shop in a great location...wonderful...but be prepared to pay high rent, employees, electric, taxes, etc.
I wish you the best of luck.
Alternatively, I would look into selling goods online. You can still acquire goods for sale and have an online store.

Source(s):

owned, operated and marketed a consignment store for 13years
notemote/swb