After a year there, we decided to build a new building on Keokuk St. What is the different between a consignment store and a thrift store? Second, you can list your item in one of Facebook's "Buy and Sell Groups.". This increased our space to 3000 square foot (as seen here). Pricing Matters. Don't undersell yourself or . Some states exempt charities, others tax all resale operations. Classified ads are the alternative to the standard second-hand shop. Ankeny, IA 50021. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Privacy Policy & Terms | Meanwhile, in Coralville, we began building a new store on Commerce Drive that was 36,000 square feet on 2 levels (our current location). If 1 tote just isnt enough then we do have the option for an appointment, which allows you to drop off 2 totes. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. For example, if one item sells for up to $30, Everything But the House earns 100 percent in commission. Watch these brief how-tos for a quick overview. All eBay /PayPal fees associated with selling the item are to be paid by me. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. The shop can take anywhere from 30% to 60% of the profits, so make sure you negotiate! Consignment shops are typically retail stores that specialize in a particular type of consumer product. Its a highly trafficked store, and very close to us. I always wanted a run down on consignment shops. As such, other consignment sites like Poshmark and Mercari may be a better deal for you. This is per item and paid to me, by seller. The consignment store pays you a percentage of the sale price of your item if and when it is sold. | qazwilson, Pingback: How Can I Sell My Homemade Stuff? A 20% gross profit sounds very high to anyone not operating a business. Get the latest gold prices and learn about selling your precious metals in todays record-high market, or you can check out reviews of top online jewelry buyers, including CashforGoldUSA and DiamondsUSA, both of which pay out within 24 hours and have a A+ Better Business Bureau ratings. Check your local Google listings and reviews. However, the consignee has the right to return unsold goods back to the consigner. A free inside look at company reviews and salaries posted anonymously by employees. Ive even heard customers ask other customers where our bathrooms are. Makes me sick to see babies toys, cloths, little shoes, high chairs, and TONS of housewares, curtains, furniture etc.. thrown in trash. If the item is less valuable or a consignment shop has already turned you down, then a thrift shop will likely be willing to accept it as a donation, which will be better than the item ending up in a landfill. Due to this, consignment shops will typically carry higher quality or nicer items than thrift shops will. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, Elle, O, The Oprah Magazine. Three top designers that are on the hunt of Tradesy shoppers are Louis Vuitton, Chanel, and Coach. Answer: Yes, we do! You can read more about this in one of my earlier post Finding the Right Auction House to Sell Your Antiques. In 2010, we sold our very first franchise in Waterloo and opened our second franchise in Davenport in 2011. Plus when you are sneaking out that toy that is so obnoxious it makes you cringe every time your child plays with it or turns it on for me it is a Big win just to get it gone without the drama. I also post a lot of stuff for sale on a local moms yahoo group. Consignment Hours: Tuesday - Saturday 10am - 5pm. Note that in all cases, the real consignment percentage represents the net figure that both the goods owner and the consignment shop take in after . Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. In other words, to sell here, you'll pay The Real Real between 80% and 15% of your item's value simply to sell it on your behalf. You can also choose to accept store credit for a larger sum. All battery-operated items must have working batteries in them. Please note that individual stores may vary at the managers discretion and this is not intended as a comprehensive list. I have found Facebook Yardsale sights to be the very best for selling stuff. They may never sell the clothes, but it doesnt affect your payout. My mom passed and my siblings, having watched too much Storage Wars, were convinced we could get $500+ for what was left overfail $200 Thats it. Claudines Debt-Payoff Success Story: From Foreclosure to a Mobile Family Business, Sell Your Crap: Download and See Bonus Videos. My family is big on yard sales. Considering both the consignors and buyers as our customers, everything we do at Stuff Etc is focused on complete customer satisfaction. The pay isnt horrible (around 30% of what they sell it for). There are some items that we just cant take for consignment at Stuff Etc. Overblown? is our area's consignment super store where you can count on brand names at re-sale prices! From there, different percentages are determined by what your items . Shop all day long with your black bag and save 20% on all full priced items that fit inside the bag, Thursdays:Additional 10% off all clearance items that fit in the bag. Revenue is usually split 60 percent to the store and 40 percent to you, although everything is negotiable. As the owner, youd pay a small fee to the shop as compensation for them selling your item. The consignment shop pays you a flat rate, upfront. I hadnt really thought of Half Price Books or Once Upon a Child as pawn shops either but they definitely fit the mold, lol. A great way to shop at Stuff is to pick up current styles, wear them for a season, then bring them back to Stuff as a consignor when youre ready for something new. Any money they make by selling the donations theyve accepted is used to fund the mission of the charity that owns the non-profit. We used Its Deductible (by Quicken/Turbo Tax) to track and value our donations. Just like every other retail transaction, consignment shops are also going online. Join us April 15 & 16 for ou twitter.com/i/web/status/1, Stuff Etc WATERLOO now carries bed in box mattresses! Bring them to us!! Have you gotten your Early Bird Ticket yet? What percentage do most consignment shops take? At Stuff Etc our bathrooms are always located near our Changing Room areas. Mercari. It might be a fairly inexpensive way to learn how or if a new product will sell. Consignment savvy people in Eastern Iowa make thousands of dollars, consigning their high quality clothing, furnishings and more with Stuff Etc with eight locations, we make it convenient for you to turn your "Stuff" into cash. THEY ARE AMAZING! At the end, they offer a quote for the cluster of items theyre interested in. Im just going to throw this out there.our most commonly asked question might be a shocker to you. Many of the most popular consignment shops specialize in reselling fashion, such as clothing, shoes, jewelry, and more. We just ask that all drop offs are done half hour before we close that way we have enough time to process your items correctly. It's good to set a minimum price that you will not go below. So, if a pair of Childrens Place pants in their store resells for $7.50, youd earn $3.75 up front. They are definitely easy, especially if you have designer clothing. 2818 Commerce Drive They are intense, because hundreds of people will be thumbing through the items throughout the weekend. Monday Saturday10am 7pm Some only buy designer labels, others could care less about labels, and others that only shop the clearance racks. Its unfortunate that it gets a bad reputation based on the ignorance and limitations of someone personal experience. That is what I currently continue to do, but there are so many things that might(yesI said might) move better in a store. It beats selling them at a yard sell or an reselling kids consignment store. In spite of the lousy location for retail, our business started to grow. Its standard for you to drop off your items for a 30-, 60- or 90-day cycle. Our first storefront in Iowa City was . Craigslist is creepy, so I dont sell on that site. You can find all the latest home dcor and furniture styles plus dress the entire family in the brands you love. A 20% gross profit for a retailer would be reduced to probably less than a 5% net profit. Save 10% on their bed in box mattresses during their March M twitter.com/i/web/status/1, Were moving right into our next big sale! Anyone 55 or older can save 10% on all full priced items every Wednesday at Stuff Etc. It's a win win when you shop resale! To get started with consignment you can read the resources we have online . It is common for clothing consignment shops to pay modest up-front fees for quality items in good condition. It started out by cleaning out my basement and selling through resale sites on line. Profit Splits. Depending on the type of items being sold and the consignment outlet selling, a 40:60 split in favour of the consignment shop or an even 50:50 split are also typical consignment percentage figures. When youre ready to start consigning with Stuff, youll need to visit one of our stores in person to complete a consignor application to get approved and have your online account created. They set their own terms for how their consignments work, so its important to research the store policies before committing. I accept designer clothing from Old Navy type of brands. Nd I will see items from Target donating to Goodwill look at Targets price which will still be on the items nd when Goodwill prices its many a few dollars difference These Stores Suck They are for the needy to be able to afford things that they cant normally buy in a Macys or whatever .!!! The Spruce / Ana Cadena. Poshmark pays 20% commission. The difference between each one comes down to: Consignment is when a shop sells goods for an owner. This is a great option if you want immediate, same-day results and never worry about your crap again. They have yard sale sunday and you can post stuff for sale on Sundays only. It varies from state to state. I personally assume that the margins in astronomy products are pretty high as it is a niche market. We rented a 21,000 square foot space on the west side of Cedar Rapids. Our first storefront in Iowa City was on Highland Ct in a 750 sq ft building in a light industrial area where we shared our b uilding with a bar and a sheet metal shop. My wife and I are considering starting our own resale/thrift store. However, in general, most consignment stores have fairly slim profit margins - often around 10-20% . Our website also has a coupon or two on it each month PLUS we provide discounts when you use your Stuff Etc recyclable shopping bag. The resale store full of donated goods down your street might not be labeled a thrift shop. Every time I take them into consignment or pawn shops, I get offered quarters for nice clothes. Bring them to us!! Calculate A Fair Consignment Percentage. Many consignment shops offer store credit at a higher percentage than if you accept cash. We rented a 21,000 square foot space on the west side of Cedar Rapids. In this brief guide, we'll cover what a consignment is, as well as look at its pros and cons. 2. Find your style at Stuff Etc Coralville! You and the shop owner work out a deal for a percentage of the sales - generally a 70/30 or a 60/40 split with the . Jewelry Consignment Percentage by: Rena. Just let our register associates know you qualify for the Senior discount. Two weeks later we found out the business closed their doors due to bankruptcy. We have eight Stuff Etc locations! Half of my clothing were passed on because they were to old. Depending on the consignment shop and the item being sold, the seller may concede 25% to 60% of the sales price in consignment fees. Corporate Office ), Corporate Office Best Online Consignment Shops. Poshmark is an app, but you can also use the desktop version to browse through items like clothing, shoes, bags, jewelry, and other accessories. There are many quality, reputable consignment shops that can give you quick cash for your used items or slow cash in the hopes of earning more for the stores that pay upon purchase. When you're ready to start consigning with Stuff, you'll need to visit one of our stores in person to complete a consignor application to get approved and have your online account created. My motto is you know what you might find, and people love that. Stuff Etc has an overall rating of 2.6 out of 5, based on over 25 reviews left anonymously by employees. And Half-Price Books doesnt market itself as a pawn shop. Oh, and Ive never heard of ThredUP, but thanks for the heads up. Especially if you live in a big metropolitan area or near a ritzy neighborhood. ThredUp is an online consignment and thrift shop that features women's, kids', and maternity clothing along with shoes, handbags and accessories. Answer: We absolutely do! There are likely luxury consignment shops near you as well. Salaries, reviews, and more - all posted by employees working at Stuff Etc. Furniture accepted everyday of the week during store hours with no appointment needed. Consignment goods are typically sold through consignment stores, which receive a percentage of the sale revenue (sometimes a very high percentage) as a commission. I get all types of people from wealthy, middle class, to those less fortunate. Consignment shops typically take a 40% commission, which is considered a 60/40 split. And we are going to start it today NOT February 1st! Different items may be less desirable in different markets, check with your local store if you have questions about an item. It involves jewelry, ripped-off cell phones and wrought-iron bars. In other words, a consignment sale is an agreement in which a third party is entrusted with selling goods on behalf of the owner. How to get rid of junk: 24+ free and cheap junk removal options. Id love to find a place like this. In a pawn shop, you relinquish your ownership of your item in exchange for immediate payment. After 6 years we outgrew this location and moved into a new location on Pepperwood Ln that had 10,000 square feet. However, there has been a rise in ecommerce-based consignment shops over the . You bring your item into the store to be sold during a certain period of time. Is it in style? It takes quite a while to see results from many of these shops, so its not a great idea if you need cash pronto. In 2000, we decided to add a second location. 50% to the retailer. If there was a Stuff Etc trivia game, how well do you think you would do? Owned by parent company Platos Closet, Once Upon a Child is a great place to sell your gently used childrens clothes, especially name-brand items. Remember, all these businesses share a desire to purchase high-quality, clean items in good condition that are currently in style. Also, find out what the house's "sell-through . Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. SENIOR DAY:Every Wednesday in our store is Senior Day! The answer to the question of how much cash you can make from consignment shops depends on: First, you can use our tool below to help you find a consignment store near you. etc. Selling on consignment can vary in details depending on where you sell, but the gist is this: If your item does not sell, or does not sell within an agreed-upon time, typically you can get it back. The Salvation Army publishes a value guide: http://satruck.org/donation-value-guide. Country decor was on its way out, so we dropped that completely and decided to change our name to Stuff Etc. Once you accept the offer, the dealer will handle all the financing and paperwork to transfer the RV title for you. Save my name, email, and website in this browser for the next time I comment. See what employees say it's like to work at Stuff Etc. Jewelry stores and antique shops both may purchase your estate and vintage jewelry either for a flat rate or on a consignment agreement. All battery-operated items must have working batteries in them. My personal favorite is thrifting. As a warning, though, this type of second-hand selling can also flop if you dont do any research. You can always cash out too but if you love a deal theres always something great to add to your wardrobe or home from Stuff Etc. If youre ready to part with this stuff anyway you might want to start a donation or garage sale bag as well as your Stuff Etc consignment bags so you can easily sort which items to bring into Stuff, and which you want to donate or sell elsewhere. But unless you make a decent amount on any given sale, you could potentially make nothing. Poshmark. I collected a bunch of clothing from my family to submit to our local consignment store. Once they accept, you drop off your items at the consignment store, receive a receipt, and then leave. They were able to tell from the label. 1. What is Stuff Etc Currently Accepting? be sure to split the load so that you are under $5000 per organization per dayotherwise you will absoultely need an appraisal of your stuff and will NOT be allowed to file your taxes electronically. More about Emma's credentials. I also was completely unaware that online marketplaces like craigslist, andeBay are also considered second-hand shops. Its been 38 years, Iowa!! | qazwilson, How Can I Sell My Homemade Stuff? In 2003 we decided to venture into the Cedar Rapids market. I find that I can send less-than-perfect items to a consignment sale that wouldnt be accepted in a consignment shop. With classifieds (person-to-person sales), you can save that money, but now you are the one connecting with potential buyers, negotiating prices and handling the transaction. You drop of your donations at the store (although some offer a pickup service), and theyll give you a tax-deductible receipt based on the estimated value of your items. How to sell your timepiece for the highest price, What you need to know about jewelry appraisals and where to find one, How to sell your engagement ring for the highest price, Understand what your diamond is worth and how to sell it, Either they purchase an item from a seller and then resell it themselves at a markup. Consignment shops typically operate in one of two ways: While consignment shops are for-profit businesses, thrift shops are typically non-profit organizations run by charities. uilding with a bar and a sheet metal shop. It certainly didn't start that way, nor was it ever conceived that it would grow so dramatically. I assumed that all shops gathered their inventory by buying goods from people directly, or from donations.