4 partners? How much do you think these places make ?
Costs me $40k a yr to run a 2500 sq ft shop with 2500 sq ft additional storage space with 1 full time employee. That does NOT include buying the storage lockers. We clear about 100k GROSS. So that’s about 45-50k net. It would not be worth it to have even 1 partner.
We could make more $ by selling more stuff, but the profit gained to work performed ratio becomes disproportionate the more that you try to sell. The idea of owning a business is to work LESS and have more freedom, not work tirelessly 6 days a week until you keel over.
We are STILL open and profitable even through the pandemic. Almost 10 years now.
I’ve seen people over the years that think that buying MORE lockers means your successful. No it means the OPPOSITE. Storage locker buying is incredibly HARD WORK. If this was so easy and profitable, there’d be a store like mine everywhere.

can you you correspond with me I need some real advice. I really believe what you are saying! We are considering opening a small thrift store. We are four ladies, we all attend the same church and this is something we have dreamed about. If you can just help me out a little I would really appreciate it.
First, is it better go profit or non-profit?
Second, My sister is an event planner and baker, do we just have to limit it to just having a thrift store?
Third, what about insurance? Do we have to have it before we open?

Haha – nice to meet you, fellow J :)

My dreams have change since writing this post, but I still very much enjoy shopping at thrift stores! I just don’t want to personally be tied down to one that requires my physical presence…

But yup – I shop and occasionally sell items online , both on Ebay and Craigslist. One of my friends actually runs a super successful website/course on flipping stuff if you’re interested in checking it out –>https://fleamarketflipper.com/

Keep reading around and researching if it’s a dream of yours though! Nothing’s better than going after what you really want in life :)

I’ve been running a Brick and Mortar resale shop full time for 6 years now and I always laugh when I hear people say “I’D LOVE TO DO THAT! IT MUST BE SO MUCH FUN!!!”
Funny how little people know about things until they ACTUALLY do them. We as people typically have our thoughts or opinions about things, but it’s not until you’re elbow deep into something before all the reality and demands of it becomes clear.
My business is BY FAR the hardest, most demanding, most time consuming job I’ve EVER had; not to mention the 6 day work week, constant stress, and sleepless nights during slow times.Oh, and for you dreamers out there, 7 out of every 10 people that enter our store suffers from some form of mental illness. NO. I’M NOT KIDDING.
So, you get to deal with that on a daily basis as well.

Our business model is that we stock our store ONLY through storage unit auction finds. Yes, like the show.
We have to find it, buy it, load it, haul it, unload it, store it, sort it, test it, clean it, research it, price it, display it, THEN, FINALLY… sell it. Usually with some DOPE asking “The price is $100? would you take $50 for it? (PLEASE RE-READ THE LIST ABOVE OF WHAT WAS DONE TO FINALLY GET ITEMS READY FOR SALE).

We have a very nice and organized shop of the best merchandise we can find. The public doesn’t know or, TO BE HONEST CARE, all that goes into creating and maintaining a Brick & Mortar retail Business. They just want it for less, no matter what it is.
Then there’s all the genius’s that ASSUME all your stuff is donated, so of course everything should be SUPER CHEAP, right?
We do, however, do pretty well on the whole, but a full 25-30% of our sales are through EBAY or secondary market internet sites ie; Craigslist etc, because the foot traffic for retail businesses has evaporated to such a degree in modern society, that it’s nearly impossible to sustain yourself without supplementary avenues of sales. Just check out your local mall if you want a first hand glimpse.

You better have a VERY good business sense, be EXCELLENT with your numbers (overhead vs, margins ), and be familiar with small business licensing, state laws, and employees.
PLUS REMEMBER, YOU’VE GOT TO PAY YOUR TAXES, CAPONE!!!!
STATE QUARTERLY, AND FEDERAL YEAR END, AND YOU MUST SHOW A PROFIT WITHIN 3 YEARS OR YOU WILL BE AUDITED!!!
Not to mention, have a STRONG back and be willing to work TIRELESSLY (working late night into early mornings is common for me), and have a great eye for quality, detail, and presentation.
Otherwise, you’ll have a “cute little shop” that turns into a junk store within 3-6 months because you cant keep up with it, AND THEN closes its’ doors within a year because you learned “HOW MUCH FUN IT WAS!!”, just like the one I pass on my way home every day after I close MY store.
Gives me a laugh every time I drive by it…
They left the store window still displayed with their “treasures” that were going to make them a fortune… Been sitting there for 6 months now.

But hey, if you don’t believe me and think you know what it takes to succeed in this business, give it a shot. Let me know how you’re doing after a couple years.
If you make it past the first one.
LOTS OF LUCK!!!!
I’m still in business though. LOL

I want to know more about their success, Michelle! It’s been on my mind lately to do a clothing one.

Good for you!!! That sounds so exciting :) You’re going to learn so much and have a ton of fun as well!

I know this is years later, but meeeeee toooooo!
Actually, I am in the process of partnering up and buying an existing thrift store (yay! My dream is coming true, and I’m only 51!!) , but before that I had seriously researched starting up a doggy-do clean up service. Really, it’s up and coming, relatively easy work, and incredibly cheap to start up with a growing need. But I’m super happy that my dream is coming true!