Second-hand vintage clothing store advice needed

[jimmyjohn]

Hi all,

I'm exploring the idea of starting my own second-hand vintage clothing store. The city where I'd like to start it has a population of 250k people with over 40.000 students and vibrant culture & touristic scene. There's about 15 second hand clothing stores active.

Most of them barely sell any brands or streetwear, they don't have any high-end/luxury and a lot of them have a regular interior design/a very mediocre shopping experience. I'd like to sell both men and women wear.*

We'd like to create an experience for our customers with a unique and 'Instagrammable' interior, a wall dedicated for "exclusive high-end eye-catchers (think vintage Chanel, rare items, etc.." (15% of the inventory). The other 85% will be goods within a price range of £2,5 and £120 (incl. accesories and gadgets)

I am not a fashion expert but am now starting talks with different fashion consultants to create a strong DNA, track best wholesale etc... I'm here on this forum to get advice from you guys, a lot of you have a great business mind and interesting perspective on business. Do you think this is a good idea? Are vintage clothing stores profitable (I've been the numbers of my competitors but they do not impress me 100%. Most of them make an average living however there's examples in other countries where certain stores are particularly doing well because of a strong DNA/branding.

We're also toying with the idea of adding another business within the store. We were thinking about selling wash powder or suplplements for students (cool vintage-like pens, notebooks, etc...) Just any advice is welcome, anyone has any experience with running a second hand vintage clothing store? What to do? What not to do?

How to choose wisely what type of fashion and categories.*What to look out for? Where do most stores fail? What are very common mistakes? How to improve the current standard of business model?

btw: I already own a successful business which is now making good profit allowing me to focus on other projects. We have several locations which are in the price range of £1400 - £2000/month. I have a total of £60.000 for the total project.

Thank you for your time and your advice will be strongly appreciated.

 

[ethical PR]

The only person who can answer your questions is you .
You need to carry out market research with your target audience to see if your concept and price points works for them and there is a demand for your concept.

You need to develop a pricing strategy and budget to see if this would be profitable business.

Why are you looking to get into vintage retail if you have no experience in the sector? It just means you will need to pay for someone with relevant experience to answer your questions around trends, what to buy etc.

60k sounds low to cover all your startup costs and ongoing costs say at least for six months trading until you hopefully move into break even.

Seems incredibly risky particularly in today’s Covid environment in a highly competitive sector.

 

[mattk]

Do you have a steady supply of vintage, branded and streetwear clothing? You're right, it is incredibly popular, but the flip side of that is that supply is incredibly competitive and therefore expensive.

The reason most of the shops sell "mediocre" items and lack brands or quality items is likely because they are buying wholesale job lots in the hope that they will contain some highly desirable items, but they still have to retail all the other dross that is in the lot.

 

[The Byre]

I have a friend who earned huge sums doing this on Carnaby Street when Carnaby Street really was Carnaby Street. (Today it is a rubberised play area. Or at least it was before the C19 hysteria!)

The one problem is getting stock and to keep getting stock!

 

[Mr D]

Perhaps wait until after lockdowns are over before opening a shop?

A year or two.

 

[jimmyjohn]

Perhaps wait until after lockdowns are over before opening a shop?

A year or two.

I've had this discussion. Right now there is incredible properties available due to bankruptcies. My plan is (if we're doing this) to launch late March or April 2021. Spring is alive and government expects the first batches of vaccine to arrive (very realistic, there's already over 20 million vaccines ready and awaiting to be shipped in Europe alone) Government projects to set up large scale vaccinations starting from September earliest. It will only get better from then on (if not, we're all screwed anyway).

 

[Mr D]

I've had this discussion. Right now there is incredible properties available due to bankruptcies. My plan is (if we're doing this) to launch late March or April 2021. Spring is alive and government expects the first batches of vaccine to arrive (very realistic, there's already over 20 million vaccines ready and awaiting to be shipped in Europe alone) Government projects to set up large scale vaccinations starting from September earliest. It will only get better from then on (if not, we're all screwed anyway).

Wait another 6 months, be a glut of incredible properties at even cheaper prices.

 

[jimmyjohn]

The only person who can answer your questions is you .
You need to carry out market research with your target audience to see if your concept and price points works for them and there is a demand for your concept.

You need to develop a pricing strategy and budget to see if this would be profitable business.

Why are you looking to get into vintage retail if you have no experience in the sector? It just means you will need to pay for someone with relevant experience to answer your questions around trends, what to buy etc.

60k sounds low to cover all your startup costs and ongoing costs say at least for six months trading until you hopefully move into break even.

Seems incredibly risky particularly in today’s Covid environment in a highly competitive sector.

We'll, I've had experience years ago importing clothing from China and selling it to stores and people here. I had to stop because customs held back two large orders for two months before releasing it (there was nothing wrong all white label clothing). I also love fashion, I get a lot of compliments on my style, I own a large collection of books and attempted to start an own fashion brand myself but never did it. It's not that I am totally unfamiliar, it's just that I like to be modest and collect as much info as possible. I used to be a photographer and sometimes I had to collect dresses and clothing for a particular set, every single time the models asked me if they could keep buy some pieces. The thing is that there are people who study and conduct business in fashion all day everyday and I prefer to listen to them as well as the great people of this forum.

I don't believe there's a risk for me due to Covid, I believe this is the most beautiful opportunity ever to start a business. Especially when the end of this nightmare is getting closer each day.

I do not believe that 60k is a low price. I don't have any employees and if I need them it will be part-time students or my girlfriend who loves fashion and stores as well. I believe that if I start out with 25k in clothing I will have a nice collection, rent will be paid for the first months and I have a wall with the most expensive items that I do not pay for, I offer them to private owners and larger vintage companies who specialize in selling high-end expensive stuff with large inventories. I take commission on my most expensive items and I already have a couple of places where I can consistently buy good quality ,branded items at low pricing.

 

[jimmyjohn]

Do you have a steady supply of vintage, branded and streetwear clothing? You're right, it is incredibly popular, but the flip side of that is that supply is incredibly competitive and therefore expensive.

The reason most of the shops sell "mediocre" items and lack brands or quality items is likely because they are buying wholesale job lots in the hope that they will contain some highly desirable items, but they still have to retail all the other dross that is in the lot.

I do know a couple of places where I can consistently buy items. This will take around 1 day a week to drive around and collect. There's also wholesalers but since I want the majority of my clothing to be brands I don't believe there's lots of wholesalers that will offer me the deal that I want. I strongly believe in second-hand online webshops and thrift shops.

This issue of getting inventory on a regular basis and quality pieces is one of the issues I am facing. This needs some work but I believe that it can be dealt with.

 

[Mr D]

We'll, I've had experience years ago importing clothing from China and selling it to stores and people here. I had to stop because customs held back two large orders for two months before releasing it (there was nothing wrong all white label clothing). I also love fashion, I get a lot of compliments on my style, I own a large collection of books and attempted to start an own fashion brand myself but never did it. It's not that I am totally unfamiliar, it's just that I like to be modest and collect as much info as possible. I used to be a photographer and sometimes I had to collect dresses and clothing for a particular set, every single time the models asked me if they could keep buy some pieces. The thing is that there are people who study and conduct business in fashion all day everyday and I prefer to listen to them as well as the great people of this forum.

I don't believe there's a risk for me due to Covid, I believe this is the most beautiful opportunity ever to start a business. Especially when the end of this nightmare is getting closer each day.

I do not believe that 60k is a low price. I don't have any employees and if I need them it will be part-time students or my girlfriend who loves fashion and stores as well. I believe that if I start out with 25k in clothing I will have a nice collection, rent will be paid for the first months and I have a wall with the most expensive items that I do not pay for, I offer them to private owners and larger vintage companies who specialize in selling high-end expensive stuff with large inventories. I take commission on my most expensive items and I already have a couple of places where I can consistently buy good quality ,branded items at low pricing.

There is always risk in business. Many otherwise viable businesses will shut soon enough due to the impact this year has had.
Often people start up in business, do just enough sales to not cover their costs and go under. Have seen it happen multiple times. We all believe strongly in our business when starting up - and still a large chunk fail within a few years.

There are always opportunities. A bad year for one is an opportunity for another to have a good year.
Position a business right and it can grow considerably as the area it is in recovers from recession.

Perhaps before opening a vintage clothing store, open a vintage clothing market stall. Lot less risk.
And can spread yourself around the area you want to base yourself. Can try selling without massive commitment or expensive lease.
And can build a local following. Plus a lot less 90 hour weeks needed.

 

[jimmyjohn]

There is always risk in business. Many otherwise viable businesses will shut soon enough due to the impact this year has had.
Often people start up in business, do just enough sales to not cover their costs and go under. Have seen it happen multiple times. We all believe strongly in our business when starting up - and still a large chunk fail within a few years.

There are always opportunities. A bad year for one is an opportunity for another to have a good year.
Position a business right and it can grow considerably as the area it is in recovers from recession.

Perhaps before opening a vintage clothing store, open a vintage clothing market stall. Lot less risk.
And can spread yourself around the area you want to base yourself. Can try selling without massive commitment or expensive lease.
And can build a local following. Plus a lot less 90 hour weeks needed.

I do agree with most of what you're saying. Unfortunately I do not see any opportunity to start a vintage market stall. I do not believe that is a good idea given the "niche" and the target audience of markets in general. I believe that a permanent physical location is the only right way to do it as it is important to grow a strong following. A market stall is amazing business for lots of things but not for this to my belief. My potential customers are underrepresented in markets (on top of my head, I just can't picture the average market visitor to buy branded vintage clothing there. Most people don't expect that, they might expect cheap and cool non-brand clothing such as scarfs, cheap shoes, belts, wallets, but that's about it to my knowledge...

 

[Financial-Modeller]

A couple of immediate thoughts:

The city where I'd like to start it has a population of 250k people with over 40.000 students and vibrant culture & touristic scene.

You suggest that your target market is the student population. Is Covid likely to affect the future student population and/or their spending power?

We'd like to create an experience for our customers with a unique and 'Instagrammable' interior, a wall dedicated for "exclusive high-end eye-catchers (think vintage Chanel, rare items, etc.."

Will that encourage your customers to buy more items, and/or to spend more on them?

 

[Mr D]

I do agree with most of what you're saying. Unfortunately I do not see any opportunity to start a vintage market stall. I do not believe that is a good idea given the "niche" and the target audience of markets in general. I believe that a permanent physical location is the only right way to do it as it is important to grow a strong following. A market stall is amazing business for lots of things but not for this to my belief. My potential customers are underrepresented in markets (on top of my head, I just can't picture the average market visitor to buy branded vintage clothing there. Most people don't expect that, they might expect cheap and cool non-brand clothing such as scarfs, cheap shoes, belts, wallets, but that's about it to my knowledge...

Then you have to place your shop in just the right location.

Have seen stallholders selling vintage - presumably with better markets and different customers.
Disadvantage of shop is you take the risk without knowing what market you have. And you pay the rent whether the business trades or shuts.

 

[ethical PR]

We'll, I've had experience years ago importing clothing from China and selling it to stores and people here. I had to stop because customs held back two large orders for two months before releasing it (there was nothing wrong all white label clothing). I also love fashion, I get a lot of compliments on my style, I own a large collection of books and attempted to start an own fashion brand myself but never did it. It's not that I am totally unfamiliar, it's just that I like to be modest and collect as much info as possible. I used to be a photographer and sometimes I had to collect dresses and clothing for a particular set, every single time the models asked me if they could keep buy some pieces. The thing is that there are people who study and conduct business in fashion all day everyday and I prefer to listen to them as well as the great people of this forum.

I don't believe there's a risk for me due to Covid, I believe this is the most beautiful opportunity ever to start a business. Especially when the end of this nightmare is getting closer each day.

I do not believe that 60k is a low price. I don't have any employees and if I need them it will be part-time students or my girlfriend who loves fashion and stores as well. I believe that if I start out with 25k in clothing I will have a nice collection, rent will be paid for the first months and I have a wall with the most expensive items that I do not pay for, I offer them to private owners and larger vintage companies who specialize in selling high-end expensive stuff with large inventories. I take commission on my most expensive items and I already have a couple of places where I can consistently buy good quality ,branded items at low pricing.

sadly you have missed out many costs you need to cover.

if you don’t believe there is a risk due to Covid in the retail face to face space you are deluding yourself

 

[jimmyjohn]

sadly you have missed out many costs you need to cover.

if you don’t believe there is a risk due to Covid in the retail face to face space you are deluding yourself

I don't believe there is a risk due to Covid, at least not a bigger risk as the end of the pandemic is near us. If you're talking about H&M or other more corporate clothing stores yes then I agree. The great thing about vintage is that there's often time one piece only, slim chances of seeing someone with the same sweater walking around. Most mint condition vintage stood the test of time which says a lot about the quality of these items. Vintage clothing has more character then you average Made in China, mediocre quality clothing. Vintage is an experience. It's not for everyone but it's great. Also, this generation of youngsters pays more attention to sustainability. Most of them are aware of the impact. Next to that, a lot of people want to own a big brand but cannot always afford it at new price. Some branded vintage items are sold at lower pricing and allow these people an equal chance to wear a premium brand and feel great about themselves.


I've only mentioned 25k in clothing and around 5 to 6k for rent. That leaves another 30k for the other expenses such as marketing , administration, taxes, insurance, etc... simply because it wasn't mentioned doesn't mean I didn't think about it

 

[jimmyjohn]

Then you have to place your shop in just the right location.

Have seen stallholders selling vintage - presumably with better markets and different customers.
Disadvantage of shop is you take the risk without knowing what market you have. And you pay the rent whether the business trades or shuts.

I agree, that's why I'm exploring a way to make sure cash keeps coming in. One way is to also build an online presence and post listings on available second hand websites. just need to think about more opportunities to exploit every single square meter.

 

[Mr D]

I agree, that's why I'm exploring a way to make sure cash keeps coming in. One way is to also build an online presence and post listings on available second hand websites. just need to think about more opportunities to exploit every single square meter.

Yes selling online can work. If you can make money from it.
Customer buys 5 items, returns them after a night out for a full refund including initial postage.
Or puts some ink on the item and has you pay to return it!

 

[Mr D]

I don't believe there is a risk due to Covid, at least not a bigger risk as the end of the pandemic is near us. If you're talking about H&M or other more corporate clothing stores yes then I agree. The great thing about vintage is that there's often time one piece only, slim chances of seeing someone with the same sweater walking around. Most mint condition vintage stood the test of time which says a lot about the quality of these items. Vintage clothing has more character then you average Made in China, mediocre quality clothing. Vintage is an experience. It's not for everyone but it's great. Also, this generation of youngsters pays more attention to sustainability. Most of them are aware of the impact. Next to that, a lot of people want to own a big brand but cannot always afford it at new price. Some branded vintage items are sold at lower pricing and allow these people an equal chance to wear a premium brand and feel great about themselves.


I've only mentioned 25k in clothing and around 5 to 6k for rent. That leaves another 30k for the other expenses such as marketing , administration, taxes, insurance, etc... simply because it wasn't mentioned doesn't mean I didn't think about it

That vintage good quality clothing you will be selling? Some will be made in china.

Oh and hire some staff. You want to take time for other things - a 60 hour week is hard to keep up. Plus of course no sick pay, no holiday and if the pay is poor you know exactly who to shout at.

 

[simon field]

Why do you say ‘the end of the pandemic is near’
when it has only just begun?

And how will people be able to try things on?

 

[SillyBill]

Oversaturated market IMO. I appreciate the excitement from the OP but sounds as original as most of the pitches heard here for new businesses in the usual areas of dog walking, doggy day cares, nail salons, artisan bakeries, cupcake makers, coffee shops & other vintage/second hand shops. There are just loads of these business types about. Not attractive before IMV but coupled with Covid even less so.

Admittedly though, I know absolutely sod all so perhaps a ringing endorsement to proceed. I only knew of Kath Kidson existing when it went bust so declaring my hand there. Supposedly this big Vintage chain with loads of outlets I had never heard of...This is what happens when you visit a town centre once every 2-3 years and have such a terrible experience you vow to not repeat it for another 5.

 

[jimmyjohn]

Oversaturated market IMO. I appreciate the excitement from the OP but sounds as original as most of the pitches heard here for new businesses in the usual areas of dog walking, doggy day cares, nail salons, artisan bakeries, cupcake makers, coffee shops & other vintage/second hand shops. There are just loads of these business types about. Not attractive before IMV but coupled with Covid even less so.

Admittedly though, I know absolutely sod all so perhaps a ringing endorsement to proceed. I only knew of Kath Kidson existing when it went bust so declaring my hand there. Supposedly this big Vintage chain with loads of outlets I had never heard of...This is what happens when you visit a town centre once every 2-3 years and have such a terrible experience you vow to not repeat it for another 5.

I disagree with your statement. My business that I have right now is something that didn't exist before and it took me a long time to introduce it to the public. It's easier to introduce something people are already familiar with and can compare to other stores. The clientele from those other vintage stores will all come to check out my store just out of curiousity, the word of mouth is very strong ,especially if you do it a bit different and get a really nice charismatic location that makes people wanna enter and stay. My intent as I've mentioned before is also to sell stuff that students need, cool vintage stuff so that's already more of a niche. Think about nice vintage maps, retro schoolbags etc.... funny cool retro gadgets. It's all gonna be there (behind the counter of course don't wanna waste no essential space.

 

[Financial-Modeller]

My intent as I've mentioned before is also to sell stuff that students need, cool vintage stuff so that's already more of a niche. Think about nice vintage maps, retro schoolbags etc.... funny cool retro gadgets.

I suspect this may become a triumph of enthusiasm over profit, but wish you good luck!

 

[Mr D]

I disagree with your statement. My business that I have right now is something that didn't exist before and it took me a long time to introduce it to the public. It's easier to introduce something people are already familiar with and can compare to other stores. The clientele from those other vintage stores will all come to check out my store just out of curiousity, the word of mouth is very strong ,especially if you do it a bit different and get a really nice charismatic location that makes people wanna enter and stay. My intent as I've mentioned before is also to sell stuff that students need, cool vintage stuff so that's already more of a niche. Think about nice vintage maps, retro schoolbags etc.... funny cool retro gadgets. It's all gonna be there (behind the counter of course don't wanna waste no essential space.

Great that you have sourced so much vintage stuff.
And will be able to keep sourcing it. In your shop do not forget storage space in the back - you will want to periodically restock the shop and may well get delivery to the shop.


You going to stick just with vintage items or going to add vintage style which will have better supply chain for volume?

 

[Lucky8]

The bit that confused me was the student-focus and vintage Chanel angle.

Students don't buy vintage Chanel (except trustafarians), and vintage Chanel is to be found at incredibly high prices on online specialists.

 

[Chris Ashdown]

To me shops are now a dead end service and likely to be even more dead end by mid next year

Average person goes to town to look around say once a week based on pre corvid, now most of the big go to stores are shutting footfall is heavily reduced and will never return

Spend the money online where you can attract the right price and can get far more coverage for your goods at far lower costs or risk

THE END OF THE WORLD IS NIGH well at least for retail shops

 

[jimmyjohn]

To me shops are now a dead end service and likely to be even more dead end by mid next year

Average person goes to town to look around say once a week based on pre corvid, now most of the big go to stores are shutting footfall is heavily reduced and will never return

Spend the money online where you can attract the right price and can get far more coverage for your goods at far lower costs or risk

THE END OF THE WORLD IS NIGH well at least for retail shops

I strongly disagree. There will be an uprise of new shops. I do agree that most of the current stores need a make-over with strong focus on customer experience. Whatever way you like it, humans are humans and they like to bond. Buying online has its pros and its cons. Stores will always exist, maybe not in the way we experience them right now but they will be here. When people go out to the mall or a market they do not only want to drink or eat, they want to experience, touch, fit , judge live, get help from another human (not a chatbot). So, I do not agree with this pessimistic point of view.

 

[jimmyjohn]

The bit that confused me was the student-focus and vintage Chanel angle.

Students don't buy vintage Chanel (except trustafarians), and vintage Chanel is to be found at incredibly high prices on online specialists.

There's a margin of the students that come from wealthy families and can afford these. There's a reason why the high-end items will only represent max. 20% of the total inventory. Also, while there are lots of students that are seen as potential customers, do not forget that we have another +100.000 and vibrant tourism to count on. There will be working people coming in as well. The student segment is just good to keep in mind.

 

[Mr D]

I strongly disagree. There will be an uprise of new shops. I do agree that most of the current stores need a make-over with strong focus on customer experience. Whatever way you like it, humans are humans and they like to bond. Buying online has its pros and its cons. Stores will always exist, maybe not in the way we experience them right now but they will be here. When people go out to the mall or a market they do not only want to drink or eat, they want to experience, touch, fit , judge live, get help from another human (not a chatbot). So, I do not agree with this pessimistic point of view.

There may be an increase in shops. However the where is also important. You need footfall and you need marketing. Chunk of places will lose too many shops and areas will not recover.
The more footfall of the right demographic then the less you need to spend on getting people to know where you are.

Yes buying in person is handy at times. It's also more expensive and usually smaller selection.
Can be quite a slog to travel to. What you do not want is lack of sales.
Figure rent, utilities, business rates, insurance, security, till, staff, cleaning stuff, decoration etc.
All got to be paid from the profit of your sales eventually.

 

[Lucky8]

This thread has made me realise: I haven't visited a non-supermarket shop since March. Not one. And I'm wondering what would ever make me want to visit one again.

 

[Mark T Jones]

I strongly disagree. There will be an uprise of new shops. .

My only contribution to this thread is that you need to balance your optimisim & enthusiasm with some serious, focused research.

 

[jimmyjohn]

My only contribution to this thread is that you need to balance your optimisim & enthusiasm with some serious, focused research.

Why do you believe I should balance optimism? Is it because I wrote that there will be an uprise of new shops? That's almost a fact given the wide range of bankruptcies. Am I being optimistic and enthousiast because I believe the end of the epidemic will be around september? Or because I said there will be an uprise of shops (which is almost a fact with the current rate of bankruptcies.). I am open to well-defined criticism and all of my statements are backed by scientific studies/statements of government officials and a portion of healthy entrepeneurship. Sadly, the most pessimistic posts often do not include anything constructive or substantiated. Just like yours

 

[Lucky8]

Is it because I wrote that there will be an uprise of new shops? That's almost a fact given the wide range of bankruptcies

Slight skew on the adage, but correlation is not causation...

 

[Mr D]

Why do you believe I should balance optimism? Is it because I wrote that there will be an uprise of new shops? That's almost a fact given the wide range of bankruptcies. Am I being optimistic and enthousiast because I believe the end of the epidemic will be around september? Or because I said there will be an uprise of shops (which is almost a fact with the current rate of bankruptcies.). I am open to well-defined criticism and all of my statements are backed by scientific studies/statements of government officials and a portion of healthy entrepeneurship. Sadly, the most pessimistic posts often do not include anything constructive or substantiated. Just like yours

Trouble with government pronouncement and scientific studies, people do not listen.
They do their own thing.

You do not know what customers you will have. You may with research figure out who your target demographic is.
Students is a broad segment, bit like saying males. Figure out who you are targeting, it will affect how you market to them and what you choose to buy.

Also figure out your markup. Buy at one pound sell for two is a great way to go bankrupt. Unless there is sufficient demand for the item that it's worth it.


There are shops that have done well in previous recession. There are shops that may do well in current recession. The two are not quite the same shops.
You need to figure out your shop. Your customers. Your stock.
Odds under normal circumstances would be about 60 percent chance you would fail. These are not normal circumstances and we do not know yet what a new normal is or when we will reach it.
You take your chances.

You can improve your chances with research, preparation and reducing risks.

 

[jimmyjohn]

I'm thinking about collaborating with a seamstress/dressmaker who can help pay the rent and specializes in repairments. Do you think this is a good idea? There's definitely not a lot of seamstresses and if there are, they are often overbooked.

 

[Mr D]

I'm thinking about collaborating with a seamstress/dressmaker who can help pay the rent and specializes in repairments. Do you think this is a good idea? There's definitely not a lot of seamstresses and if there are, they are often overbooked.

Then what would she need you for? Why should she pay you anything?
If she is short of work then yes she could pay you. But if she is not short of work you should pay her for using her to get more sales.

Or you could learn to do seamstress work. Then do alterations and enhancements during quiet times.

 

[Onthebrightside]

I was quite a well of student back in the day and we would spend whole days breezing around Carnaby Street (when it was Carnaby Street and not a fast food takeaway area) and the thing is that we didn't go there to pay the big prices, the fun was in finding something uniquely 'cool' at a cheap price. If the students are that rich they won't be coming to you for secondhand Channel, they'll be buying brand new from discounting online stores.

Try to get a short lease on a shop just in case it doesn't quite work out for you, that way you won't find yourself trying to sell-on the rest of the lease. You have business rates to pop on top of your shop rent and that could send the prices of your products up even higher, particularly if you are in the centre of a university town so see what the business rates are, they can spiral to 30,000 per annum in some cases, even for the smallest shops.

I agree that diversifying is key to staying on the high street and on that front I would set yourself up with a cafe inside the shop selling coffees/herbal teas and quick snacks, that way they can browse whilst they wait and look around whilst they are drinking. You are more likely to get opportunistic buys that way and people can use it as a meeting place.

Good luck with it all, hope it goes well

 

[Chris Ashdown]

I strongly disagree. There will be an uprise of new shops. I do agree that most of the current stores need a make-over with strong focus on customer experience. Whatever way you like it, humans are humans and they like to bond. Buying online has its pros and its cons. Stores will always exist, maybe not in the way we experience them right now but they will be here. When people go out to the mall or a market they do not only want to drink or eat, they want to experience, touch, fit , judge live, get help from another human (not a chatbot). So, I do not agree with this pessimistic point of view.

A large proportion of shops in great Yarmouth were shut up before January this year before any mention of corvid, it has been a trend over the last three to 5 years. I think if you look around its a UK problem that was hidden to a extent by charity shops and betting shops expanding

 

[Opinion87]

A large proportion of shops in great Yarmouth were shut up before January this year before any mention of corvid, it has been a trend over the last three to 5 years. I think if you look around its a UK problem that was hidden to a extent by charity shops and betting shops expanding

To be fair, and in the nicest way, Great Yarmouth is an absolute dive.

 

[Chris Ashdown]

True but the footfall in the season is fantastic, even though the season can shrink every year

 

[MarkOnline]

Hi all,

I'm exploring the idea of starting my own second-hand vintage clothing store. The city where I'd like to start it has a population of 250k people with over 40.000 students and vibrant culture & touristic scene. There's about 15 second hand clothing stores active.

Most of them barely sell any brands or streetwear, they don't have any high-end/luxury and a lot of them have a regular interior design/a very mediocre shopping experience. I'd like to sell both men and women wear.*

We'd like to create an experience for our customers with a unique and 'Instagrammable' interior, a wall dedicated for "exclusive high-end eye-catchers (think vintage Chanel, rare items, etc.." (15% of the inventory). The other 85% will be goods within a price range of £2,5 and £120 (incl. accesories and gadgets)

I am not a fashion expert but am now starting talks with different fashion consultants to create a strong DNA, track best wholesale etc... I'm here on this forum to get advice from you guys, a lot of you have a great business mind and interesting perspective on business. Do you think this is a good idea? Are vintage clothing stores profitable (I've been the numbers of my competitors but they do not impress me 100%. Most of them make an average living however there's examples in other countries where certain stores are particularly doing well because of a strong DNA/branding.

We're also toying with the idea of adding another business within the store. We were thinking about selling wash powder or suplplements for students (cool vintage-like pens, notebooks, etc...) Just any advice is welcome, anyone has any experience with running a second hand vintage clothing store? What to do? What not to do?

How to choose wisely what type of fashion and categories.*What to look out for? Where do most stores fail? What are very common mistakes? How to improve the current standard of business model?

btw: I already own a successful business which is now making good profit allowing me to focus on other projects. We have several locations which are in the price range of £1400 - £2000/month. I have a total of £60.000 for the total project.

Thank you for your time and your advice will be strongly appreciated.

Just another point of view..... Instead of taking a risk on something new, why dont you concentrate on the business you already run and earn more money with that?