Many artisans and craftspeople present their products to the retail world by selling through consignment stores. A consignment store, often called a second-hand store, is a retail store that sells new, used, and handmade items on consignment. The consignor (owner of goods) gives their items to the consignee (store owner) to be sold in exchange for receiving a commission from the sale.
If you work at home and have a home business selling products, then you should take advantage of the benefits that consignment stores can offer.
Creates Immediate Public Exposure
You must advertise in order to make your home business succeed. While typical advertising methods like business cards, websites, car signs, and media ads are all useful and necessary, nothing is better than having a way to quickly show your products to the public. Selling products via consignment stores is a great way to accomplish this. From the moment that customers browse your products, they will associate your name with quality products.
Customers will also learn that they can always find your products in that specific shop. When someone likes your products, they will purchase them from the consignment store. Then, they will tell their friends and family about the great new items that they just purchased. Nothing creates better public exposure than word of mouth.
Eliminates the Cost of Operating Your Own Store
Opening a store is a major undertaking; therefore, it can also be a heavy burden. Operating your own store means finding the money for startup costs, securing a location, finding time to run the store, hiring staff if necessary, and still having time to make your products to sell. If you work at home and operate a home business online, you must have money for shipping and website maintenance. Depending on the complexity of your online store website, it can cost thousands of dollars to create and maintain.
Selling products through consignment stores gets rid of the hassle of maintaining your own store. Then, you are free to focus on creating more products to sell.
Allows You to Make More Profit
Consignment stores take a commission from the sale of your products, and then the rest of the sale profit is yours. A useful tip is to make sure that your consignment shop does not assess any additional fees beyond the commission.
Utilizing consignment stores means that you do not have to worry about paying for table or booth fees at fairs, flea markets, and craft shows. You also will not have to pay for travel expenses to attend festivals and shows, because consignment stores sell your products at consistent times and hours. All of these cost cutting benefits mean more money for your wallet.
Helps You Build a Solid Reputation
Earning a reputation of selling quality products takes time, especially for home businesses. Selling products through consignment stores allows you to utilize the already established reputation of the consignment store. Customers are likely to feel that if "Store X" sells your products, then they must be quality items. Without a solid reputation, your home business won't succeed, and selling products through consignment stores is a great way to build a valued reputation.
If you are an artisan or craftsperson who works from home selling products that you have made, trying selling your items through consignment stores. Selling via consignment creates immediate public exposure, eliminates the cost of operating your own store, allows you to make more profit, and helps you build a solid reputation.