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You’ll need website hosting, an online store and all your initial inventory.Depending on what you decide to sell and where you find your inventory, it can cost up to ,500 to get your store started.You’ll reach a larger market of customers and save on all the costs of a traditional store.
Thrift stores aren’t usually a fast-track to riches but they can make solid cash.
I’ll go through the numbers on traditional thrift stores first before showing you how to make even more money with a unique business model and online thrift stores.
First of these is just the costs you save and avoiding some of the hassles of a retail store.
Working hours are a lot more flexible with an online store.
There are different types of thrift stores but they basic idea is the same.
So you can see that the definition of a thrift store can include a lot of different types of stores.Data shows that the general retail industry makes a profit of about 5% on sales, which would mean income of just ,000 for every 0,000 in sales.You can get around a lot of the costs of a thrift store, whether you start one online or otherwise.Even something like selling on e Bay could be considered something like a thrift store since most of the items are used.Once you know how a thrift store can mean different things, you can start to see how you can start your own store with some unique advantages over traditional thrift stores.This isn’t your momma’s garage sale or the musty, poorly-lit store you visited as a kid.I have friends that do upwards of a million in sales every year and make six-figure incomes from their online thrift stores.Thrift stores seem to lose popularity when the economy is booming but they always come back whenever people start talking about a recession.These can be some of the best types of stores to own when consumers start looking at their budget to save money.You can still accept donations as a for-profit thrift store though they won’t be tax deductible for the donor.There are going to be a lot of advantages to selling online instead of trying to open a physical location for your store.