If you are looking for a sample consignment store business plan template, here is a business plan for starting a consignment store and free feasibility study example you can use.
CONSIGNMENT SHOP BUSINESS PLAN SAMPLE
A consignment store business is a business that can be started with very little in capital. This is simply because it involves the sale of fairly used items which do not really cost a lot. The goods that you intend to sell in your consignment store can be sourced from individuals that have no need for them and sold to those that need them at very affordable prices.
The ease with which a kids consignment store can be setup makes it a perfect business for individuals that do not really have a lot in terms of capital.
Apart from doing your feasibility study and raising the capital for starting a consignment store business, you will also need to come up with a business plan. Well, this article contains a consignment store business plan sample. This will help you write the perfect business plan for your consignment store business.
Business Name: Mr. Woods Consignment Store
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Mr. Woods is a consignment store that will be located in Detroit, Michigan. Mr. Woods consignment store was established by Jesse John, a renowned furniture maker with over 30 years’ experience. This business will be set up with $50,000 and will make very cheap but quality furniture available to the residents of Detroit, Michigan.
To get things started, we have already gotten an ideal facility where our consignment store will be located. This facility is in a very busy environment and also very easy to access. We are not just in this industry to make money, we are also very interested in becoming one of the biggest consignment stores in Detroit, Michigan, the entire United States and major cities in neighboring Canada.
Our Products and Services
The level of competition in the consignment industry is quite high. The reason for this are the very little amount that is needed to start this business, the very little requirement for a technical skill, and the huge gains that can be made in this industry.
To survive in this highly competitive industry, we have decided to create our own niche. We will not just sell products to members of the public, we will stick to the sale of furniture only.
Some of the goods that we will be selling are
- Fairly used office furniture
- Fairly used kitchen cabinets
At Mr. Woods consignment store, our vision is to establish a top notch consignment store in Detroit, Michigan. We aim to use this means to meet the basic furniture needs of the people of Detroit, Michigan.
At Mr. Woods consignment store, our mission is very simple and straight forward. Our mission of establishing a consignment store is to make all manners of quality furniture available to the residents of Detroit, Michigan at very cheap prices. We are also looking to become a force to reckon with in this industry.
There are quite a number of things that keep us driven at Mr. Woods consignment store. However, a few of them are; to help people get the best of furniture at giveaway prices and to dominate the consignment store industry in the United States.
We are a new consignment store and we know that we will have to be intentional if we want to make it to the top. To ensure that we become a force to be reckoned with in a very short while of operation, we will hire only hardworking and experienced individuals to work with us. We will also ensure that our workers put in their best by giving them the best treatment possible.
The consignment industry has been running for quite a while. Since it was established, all it has done is flourish even when other industries haven’t. This is so because of the very high demand for cheap and quality fairly used goods. The truth remains that the demand for consignment goods skyrockets when the economy is bad.
Now, look at it from this perspective; when the economy is bad, lots of individuals can’t afford to get quality new goods. This therefore makes most people focus their attention on fairly used goods.
Sales and Marketing Strategy
There is a high level of competition in this industry, as a result of this, we have come up with strategies to strategies to help us make more sales than our competitors. Some of them are;
- We will ensure that we have a strong internet presence
- We will ensure that our hand bills are made available at public places so that people can get aware of our existence
- There are lots of consignment stores scattered across the United States. This implies that there is a high level of competition in this industry. We have carried out our research and have decided to deal in furniture only. Those we are looking to offer our services to are;
- Family People
Source of Startup Capital
Not much is need to start up this business. In spite of this, we do not have all the money that we require to startup. WE have 50% of the amount we need. This amounts to $25,000, the remaining amount will be sourced from the bank.
Mr. Woods consignment store is a consignment store that focuses on furniture only. Now, the fact that this consignment store is owned by a furniture maker automatically puts us ahead of other consignment stores in our niche. We have decided to capitalize very strongly on this factor.
This is a business plan sample for a consignment store business. This business is owned by Jesse John and will be located in Detroit, Michigan.