Storage Auctions
The Marketplace => Selling Venues => Other Forms of Selling => Topic started by: MTP on May 31, 2013, 05:19:10 PM
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Am considering opening an antique/collectibles mall/coop with a friend and running some numbers.
Rent of course is different everywhere, but what is the going rate for a 10x10 stall/booth?
I am thinking $150-$175.
Base rent in this area for retail in a decent part of town is at least $1 / sq ft. Often plus NNN and of course utilities etc.
Also figured into the equation would be that we would do some advertising and everybody benefits from that and any advertising the individual vendors would do.
So $2 per sq ft is really not THAT outrageous.... or is it?
The next thing is a commission on sales on top of that.
I actually want to give dealers an incentive to price stuff to sell, so I am thinking that I charge 15% commission on the first $1000 and 12% thereafter BUT credit that towards rent.
So at a $150 rent and $1000 sales he only pays commission and NO RENT....
Also want to offer display cases at $60 or so per month for seller of valuable small items. Jewelry etc
And a straight consignment area for bigger items furniture etc at NO RENT but a straight 50/50 split.
Any thoughts or ideas on this?
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I have some friends who do it. Their antique mall is open 7 days a week, but you pretty much stock it with stuff and the mall takes care of the cashing out part. IE you never have to be there to sell, which seems pretty good. Though they have complained of people 'price swapping' items, or just straight stealing it. There's no security if your not there to watch your own stuff, collect the cash etc.
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Yeah I figured that is always a problem.
If I do it, I would tell people to write on the tag what the item is, so no price swapping can happen.
And without a tag = No Sale.... pretty much the rule at thriftstores etc around here anyway.
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I think you would have to play as it comes.
Antique malls / Co-ops are very popular and there is always the risk of theft and/or shoplifting as is in every retail environment.
As long as you feel the owner isn't doing it, that's just something you need to accept.
More valuable and easily stealable items should be locked in a case.
Otherwise just apply common sense I guess.
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I don't sell my stuff anywhere that I can't employ myself as salesperson. If I have to drop my stuff and leave, I don't participate. I don't like playing by someone else's rules with my merchandise.
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And that is the crux of it right there and what I am struggling with.
Keep it in my inventory longer (maybe0 and get full price or give someone else a cut and potentially be ripped off.
Hmmmm…
I hear you and I generally tend to feel the same.
But after I bit the bullet and took some stuff to the 50/50 split consignment place and they sold stuff for $100-125 that I could personally never sell for more than 20-30 or maybe 40 on a lucky day I was ok with it.
I rather take 50% of $125 than 100% of $30.
Only works with select items, but my biggest problem has turned out to be moving stuff altogether.
Ebay is fine (except let's talk about people controlling the rules, yuk)...
But in person sales I bad. No yardsale opp due to living in an apartment. Warehouse it toally of the beaten path. Lucky if I have 10 people show up at a yardsale there.
So I am tying to develop other ways to move stuff.
Otherwise might as well give up on the storage biz.
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Am considering opening an antique/collectibles mall/coop with a friend and running some numbers.
Mudville....
Are you in an antique mall situation yet ?