How to Start an Antique Business Initial Staring Costs Location Buying and Pricing
There are many businesses around the world. Some are modern and some are not. One of the types of businesses around the country is to have your own antique shop. It is really neat and rewarding to see the history of our country through the relics and items of an antique shop. It is also really easy to run form your own home, a small building or even on the internet. Antique shops are safe and fun. Yet there might be a big question in your mind about how do you start an antique business?
Prior to starting an antique business, you need to know that there are two types of merchandise that you can sell in an antique shop. You can sell collectibles or antiques.
Collectibles are things that people could collect over time. These include things like comic books, children’s toys, old lunch boxes or even old movie collectibles.
The other type Antiques are things that are a hundred years old, or older. If you do have things in your shop from an earlier age then you may want to consider the following: The design of the item, how well the item is made and how rare the item is. Antiques usually include things like glass, porcelain, pottery or jewelry.
Initial starting costs: The amount that it costs to start up your antique shop will differ from case to case but it tends to be a little bit pricey at first. Especially if you do not have much of an inventory and you have to buy most of your inventory. Some places you should start at would be garage sales, flee markets, action houses and of course you can find some things online to work with.
Location: The location for your business is very important. You need to be in a place that has a decent flow of people this way it will attract visitors to your business. Good places to think about are: around tourist attractions, near an interstate, near a historical site, a place where festivals are to be scheduled throughout the year, or maybe even next to a mall.
Know your stuff: Knowledge is everything. If you are going to sell a certain type of item you need to make sure that you are an expert on that topic. This way you can plan every purchase well, and you know what would sell well in that particular area. A good thing to do before you get started is to talk with dealers who sell the same things you do. Read good books about setting up antique shops, running antique businesses.
Get Technical: Once you know everything you can about the collectibles or antiques you are selling you need to make sure you take care of the technical things. You need to make sure that your business is properly laid out and have business license, tax number, insurance coverage, bank account number and other relevant zoning requirements. You may not desire to run into troubles later just because you did not have these basic requirements organized.
Buying and pricing: When you start off you don’t want to buy a lot because then you won’t make a profit off what your selling and will have to overprice the items way higher than what the most will be able to afford. Make sure that at starting out you are looking for bargain prices. Auction houses are a great place to start because most of the time they sell for less than what they are worth and tend to go cheap. Also make sure you keep track of everything you sold and bought in a log book of some sort that way you know exactly what was sold and for how much. This is the best way for you to control your buying and pricing.