Store location is vitally important. You want to be in a
high traffic shopping district. Scope the store out, make sure people are
coming in and purchasing. Once you’ve determined that this might be the right
kind of shop for you, ASK them if they sell any products on consignment. No
point going any further if they don’t or won’t.
Before you make any commitments, evaluate the look and feel
of the shop. See if it’s a fit for what you offer. One-of-a-kind jewelry will
not sell in a hardware store. Make sure the merchandise is well displayed and
maintained. Is the price range comparable to yours? You won’t sell high-end,
hand-made jewelry in a discount store.
Consignment stores go in and out of business all the time.
Ensure that the store you select has a good track record, open for at least 3
years. Ask for references from other sellers. Your products will be tied up
here until they are sold (or you retrieve them), so make sure consignment items
are selling and not just making the place look good.
Next time, we will discuss the process of selling on consignment
and how to make sure your interests are honoured and protected.
For the third article in the series, click here.
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