Increase Sales through Store Consignment

Placing your products on consignment in a hair salon, clothing boutique, card store, or a specialty gift store is an excellent way to increase your sales and profits. Many of these businesses welcome not having the expense of ordering products and keeping inventory of ordered stock. This is where you come in. Think about your products and what type of store setting they would best fit. Then make a list of the stores you want to approach. It helps if you know something about the establishment such as is the store located in a high traffic location, who shops in the store, what times does the store seem to be busiest, etc. Before approaching the owner or manager of a store make sure you have some samples of your products. Catalogs are helpful but seeing the actual product is what helps to close the deal.

Make an appointment with the owner or manager. This shouldn't be too difficult especially if you patronize the business on a regular basis or if you know someone who does that helps too. The biggest task may be working out the terms of your consignment. The first thing is to decide the percentage of each sale the store will receive. Once you decide on the percentage you'll know the retail price you should list your products at. I suggest a flat percentage between 10%-15%. Of course you do want to make a profit so you do need to consider:

  • What is your cost for the products?
  • How much do you want to make from the sale of an item?
  • Adjust your retail price according to the percentage that will be given to the store and profit you want.
  • Think about the time you'll spend ordering and restocking the store.
  • How much space the store manager or owner is willing to provide to you for your products? Will the space be free or will there be a rental fee? Will you have to provide shelf space?
  • Establish some agreement about how lost or broken items will be handled. This may effect the percentage you give to the store.

    • I recommend keeping a detailed inventory of each item you stock in the store that includes the date the item was stocked, a description of the item, quantity, item number, and retail price. You should also keep a record of any payments received from the consignment store. Keeping track of items that sale helps you to know which are popular and which items to restock quickly. As far as the sales tax, the store should handle all the sales tax.

    Lastly, I do recommend that you develop a standard consignment contact for your store owners. Some store owners may have their own, which is fine as long as it meets your needs.

    My name is Marjorie Malone. I have always had an entrepreneurial spirit and over the years I have been involved in many MLM networks. I enjoy people and selling quality products and services. I am currently the founder and owner of an e-commerce speciality store called Blue Angel Boutique. You will find a variety of products and services to meet your gift buying needs. You will discover unique giftwares, inspirational items, home accessories, jewelry, and other resources. We are the Home of Universal Treasures because the products and services are universal to all. There is something here for everyone. Please stop by and visit at http://www.blueangelboutique.com

    Make Your Online Party A Success

    Online parties are quickly becoming the better alternative to the... Read More

    How To Run A Successful Home Sale Party

    Coaching the HostPlan to spend some time with your Host... Read More

    Network Marketing Success- Network Marketing Success Vault Secrets

    Network Marketing Success is very elusive, as most do not... Read More

    The Secret to Why Network Marketing will ALWAYS work!

    Some people believe that network marketing really doesn't work. To... Read More

    Do You Really Want To Try Network Marketing?

    Make no mistake it takes a unique skill set to... Read More

    Become A Young Millionaire? Can You?

    You already registered as a member of company, lets call... Read More

    10 Killer Ways to Promote Your New MLM Program

    Terrible isn't it?You just joined this wonderful new MLM and... Read More

    The Best Network Marketing Company

    ...is the one that will work best for you.With that... Read More

    Network Marketing Tips

    Network marking is the ordinary person's best opportunity to make... Read More

    Finding The Intangible

    This article is dedicated to novice entrepreneurs who are struggling... Read More