Whether you already operate an Antique Mall booth or another type of antique business this book is designed with one purpose in mind: to help antique dealers make the connection between their inventory and their money. Inventory – buying it, pricing it, displaying it, and selling it – is at the core of a dealers “business puzzle”. Dealers who fail to grasp inventory essentials will struggle and risk failure, and it won’t be because they can’t make a profit. Forty percent of all small businesses that declare bankruptcy are profitable; they just run out of cash.
In this book, I’ll point out a few of the common traps that new retailers – and some old-timers – fall into. Once you know what the traps look like, you’ll be able to avoid them. If you already find yourself in a financial tight spot, you’ll learn a few tactics that will put you back on solid ground. Here’s a small sample of what you’ll learn in this book:
●How to know if you should buy an item – or walk away from it.
●How to make your booth stand out from the competition.
●Eight tactics that will turn your booth into a selling powerhouse.
●Five tips for buying right: practice these techniques and you’ll seldom overpay for inventory.
●A simple formula for knowing how much inventory you’ll need. Never be stuck with dead inventory again!
●How much you’ll have to charge to make a profit.
●Ten pricing tactics that will keep your inventory moving.
●Five strategies to sell more without taking markdowns.
●When – and how much – to take markdowns; timing is everything!
This book presupposes that you already know something about antiques. I won’t tell you which items you should stock or what items are hot-sellers; all that information is available elsewhere. My purpose here is to present the basics of running a profitable mall booth. Although my focus is Antique Mall dealers, the principles apply to retail stores of any type or size.
Originally posted 2014-09-20 19:40:00.