Business Plan For Consignment Shop

She spent the summer of 1990 purchasing good-quality clothing from tag sales and auctions out-of-pocket and stockpiling inventory in her Upper East Side apartment.

By the fall, she had leased and renovated a 350-square-foot retail space on East 81st Street, and was ready to open the first Designer Resale location.

"At the time, I couldn't justify renting even one additional store; however, I opted to take both.

It was a bold move, but something told me it was a good opportunity.

So what advice does Skoller have for aspiring consignment-shop owners?

If you're planning to open a retail location, gather your inventory first.

To have celebrities like Catherine Zeta-Jones and Elie Tahari shop in your New York City store is certainly exciting, but Skoller has had the thrill of selling items that once belonged to recognized public figures.

She won't say who, though: Instead of advertising the identities of her famous consignors to profit from it, Skoller takes the honorable path and respects their privacy.

Skoller quickly realized that consignment has an advantage over traditional retail because there is no cost of goods.

Consignors bring an item to a store like Designer Resale.

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