If you are looking for a sample thrift store business plan template, here is a business plan for starting a profit and non-profit thrift store business and free feasibility study example you can use.
THRIFT STORE BUSINESS PLAN SAMPLE
A thrift store business is a business that involves the sale of mainly fairly used commodities and occasionally brand new goods. Usually, this goods are sold at giveaway prices. Therefore, making them affordable to those that do not have the needed funds for new goods. Some of the items that can be sold in a offline and online thrift store include shoes, clothes, electronics, books, toys musical, equipment, office equipment, etc.
Starting a thrift store business is considered quite easy. This is because not much money is not needed to start one. Goods that get sold in a thrift store are usually gotten from people that are clearing up their homes and want to dispose things that occupy space unnecessarily.
This article contains a thrift store business plan sample. This will come in very handy for anyone that is looking to start a thrift store business.
Business Name: Loveday thrift store [ Resale Shop Business Plan ]
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Loveday thrift store Inc is a thrift store business that is located in Las Vegas. It is owned by the McDonald family and will be managed by Donald McDonald because of his wealth of experience in running this type of business. To get started, we have acquired a facility in a choice part of town. The newly acquired facility is large enough to fit into the idea of the type of thrift store business that we want to run.
Loveday thrift store business will make retail items such as clothing, books, furniture, kitchen equipment etc. available to those that are in need of them. At loveday thrift store, we are looking to run a business that will give our customers the best treatment possible. We have already devised a means of starting and maintaining a personal relationship with each and every potential customer that will patronize our store.
Our Products and Services
Loveday thrift store business is in the thrift store business to ensure that goods that are no longer needed in homes in the United States and beyond are made available to those that are in need of them. In as much as no amount is really needed to start this business, we are looking to make as much profit as possible from this business. Some of the second hand products that will be available to our potential customers include:
- Fairly used books
- Fairly used kitchen equipment
- Fairly used office equipment
- Fairly used sports equipment.
Our vision at loveday is to be one of the most prestigious thrift store brands in the United States and beyond. However, before becoming a force to be reckoned with in the United States, we intend to win our immediate environment.
Our mission at Loveday thrift store is to setup a thrift store business that will make top quality fairly used goods available to individuals that are residents of Las Vegas. We also intend to move from just Las Vegas into other parts of the United States.
Loveday thrifts store business is not going to end up like most thrift stores that are popular in Las Vagas.We at Loveday thrift store intend to build a business empire from a thrift store business. Although we are still a startup and cannot be reasonably compared to the many established thrift stores in Las Vegas and other parts of the United States, we are putting up the needed arrangements that will get us to the apex in this business rapidly.
To achieve our aim of becoming one of the top and most recognized brands in the thrift store business, we are going to hire honest and qualified individuals. We will ensure that promotion and recognition of our employees is strictly on merit.
Although not everyone will be comfortable with buying used items, there are those that don’t mind. One thing that keeps this industry running is the fact that a lot of people are looking for ways to save some money. The two major ways through which this is done is by selling used products and by buying used and cheap products. More often than not, those that fall into the category of buying used goods are low income individuals while high income earners do the selling.
It is a fact that one of the industries with the widest range of customers is the thrift store industry. We are certain that we can’t reach absolutely everyone. As a result of this, we have decided to settle for the following group of people
- Pregnant women
- Business executives
Sales and Marketing strategy
We are conscious of the fact that we have a lot of work to do if we must break into the market quickly. Due to this, we have come up with some strategies make our potential customers aware of our presence. Some of them include;
- Good customer service
- Cheaper rates
- The sale of a wide range of products.
Source of Startup Capital
Although not much is need to start this business, we do not have all the capital that we require. This is because we intend to hire a facility in the heart of town that comes with a very large parking lot. As a result of this, we will get a loan of $10,000 from the bank. With this we can get the sum of $15,000 which is needed for this business.
The fact that starting a thrift store business does not require much capital increases the competition level in this industry. Our way of beating our competition is by having a wide range of products and having a parking lot that can accommodate a lot of cars all at once.
This is a business plan sample for a thrift store. It is owned by the McDonald family and will be located in Las Vegas.