Storage Auctions

500 Sq feet of dreams

500 Sq feet of dreams
« on: November 17, 2013, 05:27:02 PM »
I finally did it.  I was able to negotiate a great price at a resale store 15 miles from my house.  It is one of many antique and resales shops on a strip right off the highway.
500 sq feet!!!!
The owner of the resale shop is a storage auction buyer I have gotten to know and is a stand up woman.  She is fair and friendly.  She has been doing well for four years.  We rarely butt heads so it works out well.
Homegrownpromos has been great answering questions and offering advice.  At first I thought it would be a good place to unload smalls and clothes but after watching the customers come through the store and some good advice I changed directions. 
We are going to offer good furniture and household goods.  I already was able to sell a couch, dryer, and some smalls via consignment and it seems to be what people come to the store for. The owner is great with online marketing and I will add to that as well.
I have carved out a small workspace to sell Macbooks and small electronic accessories I have picked up via ebay and  HDMI cables, power cables, usb, etc.  It is good to have a space that works for me.  I will only be there for appointments for computers and some on the weekend to help work the floor.  There are a couple of big venders there and everyone helps each other since we all have unique inventories.  There is a great couple that speaks Spanish and English so that is a big plus in Texas. 
I have a 10x20 storage full that will be my initial inventory.
I also have friends that make unique handmade crafts and I will charge them 25% to have a small space to sell their goods.  We are going to social market those items as well.
I am really excited and this is a great way to start my jump into the resell market.

Re: 500 Sq feet of dreams
« Reply #1 on: November 17, 2013, 08:18:53 PM »
Oh yeah I need to plug the new place.  If any of you are in the Dallas area check out KB Korners in Forney

Re: 500 Sq feet of dreams
« Reply #2 on: November 18, 2013, 11:51:03 AM »
Is this your own space (i.e. you have your own keys to your own door) or is this a rented space inside a bigger store like an antique mall situation?

Either way congratulations! There are positives and negatives to both. I'd like to hear more about your situation in your new venture!

Re: 500 Sq feet of dreams
« Reply #3 on: November 18, 2013, 07:24:27 PM »
It is just rented space in a big resale store.
Its a great price and she does keep 10% commission.  What sold me was I have been renting a smaller space only 150 sq ft for $150 and was able to sell over $500 in the first week.  She does extensive online marketing via Facebook and Craigslist and was able to help sell one of my bigger items, a front loading dryer. 
The traffic is great on the weekends but a little slow during the week.
Anyway I will be posting pics as soon as I get the space put together by this weekend.
Thanks again for your help Home Grown!!

Re: 500 Sq feet of dreams
« Reply #4 on: November 20, 2013, 01:06:05 PM »
10% is awesome! The lowest commission I can find is 25% and that's because I know the guy! It's great that she does so much advertising and you don't have to be there to make sales. Congrats!

Offline Travis

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Re: 500 Sq feet of dreams
« Reply #5 on: November 22, 2013, 09:22:07 AM »
Yeah, that seems like a great set up. Wish there was a place like that in my area.

Re: 500 Sq feet of dreams
« Reply #6 on: November 22, 2013, 10:11:34 AM »
It's a good setup but I forgot that I had deleted a part of my original post.  I am also paying rent on the space but it is very reasonable.  I didn't think it was a good idea to post all my business arrangements online.  She does have other venders.
But I am very happy :)

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