Whether you're a business owner or a consumer, the verdict is in... adding a consignment component to your existing business model at a fair price is allowing the end consumer to not only save money, but the business owners of like-minded boutiques, stores and children's stores are reaping the rewards with a "side" profit, as long as they are willing to make room for more inventory and create a consignment system that works functionally for not only the business, but for the consignor. With such a simple business model, these existing businesses are attracting the "other" demographic that wouldn't normally be entering their business unless there was a very good reason to do so (like a "happy" payday), or... a great sale!
Note: This business model is considered to be a green and sustainable model. Recycle... Bonus. Reuse... Bonus. In the end, yes, you guess it... Bonus!
For the Business Owner:
Consigning and trading-in items is becoming a new way of the future, this system allows struggling business owners to make a sideline profit while they show off their existing inventory (best part, you don't have to bring in the inventory, it literally comes to you). There are many businesses around that offer this model, and it’s more than you would think. I strongly encourage those businesses that do have this model in place and future businesses to include the word, "consignment" into their meta tags for search engines or business postings/listings so that your business can easily be found. There’s definitely a future for this kind of model, and those that are suffering and have the ability to throw something like this together, it’s strongly encouraged. By looking at your local thrift stores, thrift boutiques and garage sales, you can increase your earning potential... and for that high-end item, adding an eBay model will work some amazing wonders for you.
For the Consumer:
Each business runs their model differently, while some offer in store credit, others will offer a percentage of cash direct to your pocket. It’s important to look into each company and what they have to offer, as well as to know what they accept and what they don’t. Most companies will have a listing of acceptable items/designers et cetera and those they don’t accept somewhere on their website along with their general guidelines. For example, some places will want the item in mint condition, repaired, steam pressed et cetera while others will take the item as is and will tack on a fee for the maintenance and dry cleaning. Same thing goes for technology, except that instead of looking at repairing a bad seam or a rip, you’re looking for heavy-duty scratches on your disk or equipment. Try and save the boxes and CD cases.
Personally, as a consumer in these hard economic times, this much I can tell you. I love having the ability to trade in my used items to put towards credit/purchase on newer or other used items. It has become the way of my life to cut costs where I can. Did I mention I love this model? I LOVE THIS BUSINESS MODEL! As more people begin to use this opportunity to save money, they’ll see a huge difference in their wallet, and they’ll be able to afford a little extra or put a little more in savings.
