Thanks for all the great ideas. I agree that "thrift Store" conjures up "Very used" and "cheap".
Estate Liquidtors- I'll play with that Idea.
I've worked for "The Man" for too many years and want to do something I enjoy. I'm retired not dead. I like hard work and doing for myself and family is just what I'm looking for.
Goodwill and Salvation Army do have a large presence here and would be competition, so our location would have to be away from their area. Memphis ahs more then it's share of Thrift Stores, so I'm steering away for there.
I'm not afraid of failing, I'm afraid of not trying.
Are there any trade days in the Memphis area? I know there were a few in TX, where we used to live and they seemed to do better then Flea Markets. Thanks Again !!!
Obviously, the decision to open a business such as you are talking about is one that is your decision in the end, and we're just offering advice. Take you time, and you need to make sure you can keep it afloat for at least six months, minimum, because you'll be operating in the red for a while.
It's just the nature of the beast. Scout locations, be sure to avoid conflicting with Salvation Army and other such businesses, and make certain your advertising is directed at the market you are aiming for.
Consider, too, consignment sales, as a way to supplement your income.
There's a lot of work involved in setting up a retail location, and you need to be sure to understand the insurance requirements, security systems, and workers comp and employment laws on both a federal and state level to cover your ass.
And expect a lot of long hours. I don't run a store front, but, as I'm sure chefj can verify, I look at a sixty hour week as a break from the normal grind.
Being self employed means not only are you the man who determines every thing in the business and is the 'boss', you also are the janitor, secretary and errand boy during the initial start up.
Any job that has to be done falls to you. No one is as worried about your business as you are, and that means you get all the added stress.