Finding Products For a Retail Antique Store

Running a retail antique store can be fun and financially rewarding business endeavor that gives you the opportunity of seeing some rare, one-of-a-kind items. If you are the type of person who enjoys collecting vintage items from the past, this business might be the perfect match for you. However, one of the biggest hurdles newcomers have is trying to find product to sell in their antique store. Since antiques aren't mass manufactured like traditional products, you must think outside of the box when it comes to locating inventory.

Establish Customer Relationships

Hands down, the best way to locate antiques to sell in your retail antique store is to purchase them directly from customers. People will oftentimes bring in unique, old items in hopes of identifying and/or selling them. If you think there's a good chance customers in your store would purchase it, then go ahead and try to purchase it. Just remember to purchase it at a low enough price so you can make a profit off the transaction; otherwise, you'll end up wasting your store's money and space.

As you begin to purchase products off of your store's customers, they will likely spread the word about your business; therefore, bringing more customers into your store. While some of these customers are there simply to purchase items, others might try to sell their own antiques to you. Always take the time to inspect each and every antique offered by a customer, as you never know just how valuable it will be.

Auction Websites

Another excellent outlet for locating antique items to sell in your retain store are auction websites such as eBay. You can literally find just about any product or item under the sun using eBay, but it's especially useful for locating antique and vintage items. When people don't know where or how to sell an antique item, they simply place it up for sale on eBay and let buyers set the price. As an antique store owner, you can use this to your advantage by locating products here. After you've received the products, you can then sell them in your store.

Yard Sales

Yet another excellent method for locating antique products for your store is through yard sales. If you live in or around a large city, spend a weekend afternoon driving around and checking out yard sales. Depending on your luck, you might come away with some amazing antique items at incredibly low prices.

Why Retail Stores Can Benefit From Social Media Networking

If you are a retail store owner who's not using social media networking to promote their business, you are missing out one of the easiest and most effective ways to gain more customers and ultimately more sales. Contrary to what some people may believe, social media networking isn't limited to personal use. The fact is that businesses of all sizes can benefit from using this new-age medium. To learn more about social media networking and how retail store owners can benefit from it, keep reading.

To give you a better understanding on just how massive social media networking is, let me just say that Facebook is the world's second most visited website. The website with the highest traffic in the world is of course Google. At one point in time, Facebook actually surpassed Google in terms of traffic. While Google has regained the title as the website with the world's most traffic, Facebook is still a valuable tool that every retail store owner should utilize.

If you want to create a Facebook page for your retail store, you'll first need to log in to your personal Facebook account. From here, you can go to https://www.facebook.com/pages/create/ and follow the given instructions to create your page. It's a pretty straightforward process that should take you about 30-45 seconds from start to finish. When it's finished, be sure to add a thorough description along with a profile picture to your new Facebook page. Sorry if you were expecting more, but that's all it takes to get a Facebook page for your business up and running!

Once your Facebook page is live, you should work on spreading the word so more people will "like" it. The more likes it receives, the more reputable your store will become. You can gain more likes by linking to your Facebook page from your store's website, email newsletter or just word of mouth.

Of course, there are other social media networking accounts that you shouldn't overlook. Twitter, Google Plus, LinkedIn and even Pinterest are all highly valuable social media networking tools that can drive more customers to your retail store. Spend some time familiarizing yourself with each of these social media websites so you have a better understanding on how they operate. Once you've got the basics down, you can then open up an account for your retail store. Remember, each of these social media networking sites has a unique edge that you must leverage for your store. For instance, LinkedIn is a networking site intended for professionals; therefore, it's the perfect match for you as a retail store owner.

What You Should Know About Running an Antique Store

Antique stores are considered a rescission-proof industry simply because there will always be people looking to own unique items with interesting history behind them. As certain vintage and antique items grow older, they also become more rare. This of course only adds to their value by making them worth a greater amount of money. However, running a successful antique store isn't as easy as some people seem to think. If you want to remain profitable, there are a few things you should know.

Not Every Transaction Is Profitable

Unfortunately, not every transaction you make in the antique industry is going to be a profitable one. You'll likely find yourself purchasing rare vintage items from people only to discover that no one else wants them. Allowing them to sit in your store results in a loss of space that could be used for other products. The bottom line is that you need to keep your antiques moving to remain profitable.

So, how do you know what price to purchase vintage items and antiques at? This is the age-old question that troubles many store owners. A good way to measure prices, however, is to check on some of the online auction websites like eBay. See what others are paying for similar items and use your best judgement to come up with a price that will allow you to turn a decent profit.

Original Condition is Better Than Restored

Nine out of ten times, leaving an antique in its original condition will hold more value than having it restored. Even if it looks cleaner and nicer when restored, the fact is that it's no longer an "authentic" antique. Instead, it's been tampered with to improve its appearance. You should always hold off on restoring antique items and seek to own and sell products in their original condition instead. With that said, there are certain instances where restoring an item may be preferred, but these are typically few and far between.

Network With Customers

You can't expect to run a successful antique store without networking and interacting with your customers. The same can be said for most retail store establishments, but it's especially true for the antique industry. Maintaining a positive attitude and talking with your customers will create a bond that brings them back. After a while, you'll notice the same customers coming back to your store over and over. It's repeat customers such as these that prove to be a valuable asset in running an antique store.

Top 3 Mistakes When Running a Jewelry Store

Do you have knack for jewelry and the desire to work for yourself? If so, you should consider opening a jewelry store. It's a fun and financially rewarding venture that gives you the opportunity to work for yourself and control your own destiny. However, you should pay close attention to ensure you avoid the following three mistakes that many newcomers to the industry succumb to.

Mistake #1 - Not Focusing on Customer Service

You may not realize it, but customer service plays a critical role in the jewelry store business. The more attentive you are towards customers, the more sales you will receive. It's a basic principle that never ceases to fail in this industry. One of the reasons for this is because most customers who visit jewelry stores are local. And once they find a store they like, they will continue to come back for other jewelry-related items and services. The bottom line is that you need to treat each and every customer that comes through the door with the utmost respect and care. Give them a big "hello" when they enter and a "have a nice day" when they leave. This alone will set you miles ahead of your competitors by showing your customers that you truly care.

Mistake #2 - Not Services

A large portion of a typical jewelry store's revenue comes from the services they offer. If you want to achieve any level of success with your jewelry store, you must offer a variety of services to your customers. These may include things like laser engraving, ring sizing, cleaning, polishing, etc. When customers come in to purchase jewelry, you can then remind them of the many services your store offers. This is just one of the many outlets to generate "additional" revenue through your business.

Mistake #3 - Bad Pricing

Let's face it, if your jewelry prices are too high, no one is going to buy them. On the other hand, if they are too low, you simply aren't going to make enough profit. So, how do you know what to price your jewelry at? Unfortunately, there's no easy answer to this question, as it depends on a number of different factors. Consider the quality of the metal, whether it's new or used, the brand, and see what some of your competitors are selling similar pieces at. Ideally, your prices should fall just under your competitors for maximum profits and results.