Tips on Purchasing Items For an Antique Store

Owning a retail antique store can be a fun and financially rewarding business venture. While other business rely on "trends" that come and go, people are always eager to purchase unique antique items; therefore, it's considered a long-lasting business that's able to withstand the trying times of economic market woes. Of course, you'll need to understand some fundamentals of buying product for an antique store if you wish to succeed.

How Much Space Does It Take Up?

Before you start buying up every antique item you come across in hopes of reselling it for a profit, consider how much space it takes up. Like all retail establishments, antique stores have a finite amount of space. Filling your store with huge antiques like cars, car parts, furniture, bicycles, etc. could negatively hurt your business. So, does this mean you should avoid all large antique items? Of course not, but you should be aware of how much demand there is for it. Big antique items are perfectly fine in a retail store as long as you can sell them in a short period of time.

Depending on how many large antique items you have, it might be a good idea to rent a storage unit to hold some of them. Customers won't be able to physically see the items in person, but you can still tell them about it. With that said, you should try to get out of the habit of purchasing a high number of large antique items.

Original Condition Items

Ideally, you should only purchase antique items for your retail store that are in their original condition. Some people make the all-too-common mistake of having their antique items refinished or reconditioned in hopes of achieving a more attractive appearance. Unfortunately, this typically results in a lower value, so much in fact that it's usually not even worth purchasing. Try to avoid purchasing antiques that have been altered and stick with original items instead. If you are unsure on whether or not an antique item has been reconditioned, avoid purchasing it just to be on the side side.

Accurate Valuations

Properly pricing antiques is an art form that comes from years of experiencing and knowledge. When buying items for an antique store, you must have a general idea as to how much they are worth. You obviously don't want to purchase them for more money than you'll be able to sell them, so try to come up with a price that will offer you a profit margin. Remember, it costs money to hold and display products in your antique store.

How To Show Off Your Trophy or Award

Have you recently received a trophy or award for athletic accomplishments, academic skills, work ethics or community service participation? These are things you should be extremely proud of accomplishing. Recognition awards such as these are a reminder that hard work pays off in the end. If you continue to put forth your best effort and strive for excellence in your daily activities, you might receive a reward for it. Here we'll take a look at some of the different ways to display a trophy or award in your bedroom.

Plaque vs Sculpture

Most awards are broken down into one of two categories -- plaques or sculptures. Plaques are typically made of authentic hardwood, such as maple or oak, with a finished plaque surface over the front. If you recently received a plaque award, the best way to display it would be to hang it on your bedroom wall. Plaques are made with a flat back, and you'll usually find a small notch that's able to hook into the back of a screw or nail.

So, where exactly should you hang your plaque award? This is really entirely up to you, as some people hang them over the bed, while others hang them on an open wall. If you have multiple plaque awards, or if you plan on receiving more awards in the future, it's a good idea to hang your plaque in a location that's able to accommodate more than one.

Sculptures, on the other hand, will require a bit more thinking and planning ahead to display. The image shown above is just one example of what a typical sculpture award looks like. As you can see, there's no way to hang these on your bedroom wall since they are 3-dimensional without a flat back. The good news is that you can still successfully show off your sculpture award. All it takes it a little creative thinking.

One way to show off a sculpture award in your bedroom is to simply place it on a shelf. If you have shelves built into the walls, try placing the sculpture award here. Whenever someone enters your room, chances are they will immediately take notice of your award, and that's exactly what you should try to accomplish. Another option is to invest in a glass case to show off your sculpture awards. Not only will is display your awards, but it will also protect them from dust, dirt and damage.

Jewelry Store Laser-Engraving vs Etched-Engraving

If you run or are thinking of running a jewelry store, you should offer a free engraving service to your customers. Once you've learned the process, it should only take you a couple minutes from start to finish. By giving out free jewelry engravings to paying customers, you'll naturally draw more people into your store; thus, resulting in greater sales and greater profits. Here, we'll take a closer look at laser vs etched-engraving and reveal which one comes out on top as the winner.

Etched-Engraving

In the past, nearly all jewelry engraving was done using this method. As the name suggests, it involves "etching" the words, letters, numbers or phrases into a piece of jewelry. Most jewelry stores who participate in etched-engraving use a large diamond-tipped needle that's hooked up to a machine to create engraving. The needle essentially digs out a small portion of the jewelry, leaving behind a clean etched design. Etched-engraving is incredibly cheap, effective and fast. The only real downside to this method is that you'll have to frequently replace the diamond-tipped needle in order for it to work properly. If the diamond begins to wear down, it may not produce a smooth engraving.

Laser-Engraving

On the other side of the fence is laser-engraving. Instead of using a diamond-tipped needle like etched-engraving, it's done with a laser device. The device sends a concentrated beam of high-heat energy directly the ring or jewelry's surface. By using a computer program, the jeweler can tell the laser where to engrave.

One of the differences that you'll notice is that laser-engraving doesn't leave an indention behind like etched-engraving. Instead of digging into the surface of the jewelry, it creates the engraving by using high heat, essentially burning it. This is why most pieces of laser-engraved jewelry have dark engravings that are more prominent than etched-engraved jewelry.

Hopefully, this will give you a better understanding on the two different types of jewelry engravings. While the end result for both methods is quite similar, there are some notable differences that shouldn't be overlooked. For starters, etched-engraving creates a small groove in the jewelry, while laser-engraving burns the surface. I recommend offering both of these engraving techniques to customers, as some people prefer laser and others prefer etching. Be sure to discuss the different methods with your customers ahead of time so they are fully aware of what the engraving will look like.

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.