Start A Consignment Store Business with Low funds

Start A Consignment Store Business with Low funds
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Start A Consignment Store Business with Low funds

Start A Consignment Store Business with Low funds is a free article on Low capital business. As a matter of facts, Here is a Business Plan Checklist on Starting a Consignment Shop Business. Consignment shops are lately becoming very popular. The consignment store business works on a very simple policy, the consignor sells his products via your store, and you will have to pay him only when a product is sold. As the product is sold, the consignor is going to pay you a commission.

Start A Consignment Store Business with Low fund
The consignment shop is going to be compensated for selling the items. The business is successful as people get a better deal on a lot of items. You will help makers sell unwanted items and you can stock up your shop every week with new items.

Consignment Store Business 


If you are planning to start a consignment business, you need to consider a number of aspects. The consignment store business requires a good location, equipment, and steady supplies. Here’s a step-by-step guide on how to start a successful consignment store business.

Here are the 10 Steps to Follow To Start A Consignment Shop Business

1. Finding The Location For Your Consignment Shop

Getting a good location is really important in consignment store business. Visibility plays a major factor in this business, so make sure that your shop has easy access to roads and people can see it while passing by. A good location is going to ensure that you have higher footfalls impacting your sales directly.

2. Do Your Research On The Products

You need to do your research and go through everything related to the business. Running a consignment store needs familiarity with the neighborhood. Consider the businesses around your store and know your target market. A detailed research on the audience will help you to store the right kind of products without worrying about the inventory.

3. Developing A Business Plan

Consignment business needs a proper roadmap on which you will work. Hence having a well-written business plan is a must. Have your business structure ready, get done with the consignment policies and the goals you have set for future. With the plan and structure ready, your consignment shop business will have a proper direction with a set of defined objectives.

Next up, you need to map out your strategies that will help to achieve your goals. Also, have a list of priorities ready that will assist you to manage possible blocks in the future.

4. Designing The Consignment Store

The design plays a major role in sales and attracting customers. You will have to design your consignment store with bright colors to give it a well-lit look. It should be well-stocked and organized so that customers face no hassle while finding a product.

If you are not sure about how to design your store, visit any good retailer. See how they have organized their merchandise, where the seasonal items are kept and how everyday products have been stocked.

5. Keep A Check On Your Competition

This business requires you keep an eye on your competitors. The market is loaded with second-hand shops. Not only second-hand shops but other well-known shops are going to be a direct competition as well. This is where you need to game up your business. Think of ways on how to experiment with your products and make your store better and unique.

6. Getting The Consignors For Your Shop

For a seamless run, your consignment business will need a lot of consignors. You need to attract consignors. Start with contacting local consignors or advertise for consignors for your shop. You have to sharpen up your skills in bargaining and negotiating. When you interact with consignors, you will have to bargain to get the best deals on your products.

7. Fill Up Shelves With Quality Merchandise

Never negotiate with the quality. If your product is poor, remember customers are never going to come back. Also, there’s a high chance of bad word of mouth. This will have a negative effect on your business. So, never compromise on the quality of your products and work with those consignors only who deliver quality merchandise.

8. Acquiring The Right Inventory

Work on your market demographics. Know the neighborhood around your store and research its demographics. This will provide you with the market insights and will have a better idea of what product line you should offer. The right kind of products on display can help you to add to the impulse purchases, which add up to a significant amount of sales each month. Change the merchandise if customers are not reacting to it and experiment with other items.

9. Legal Compliance

You need to complete your legal paperwork before you start your consignment store. In a consignment business, the legality is defined in terms of sale. The sale is an arrangement in the consignment trade where the consignor will send the goods to the consignee. The first stage involves no payment for the goods.

Up next, when there is a sale, the consignee will pay an amount to the consignor. The consignee will get a commission only when a good is sold.

10. Business Promotion

Consignment shops often need to be promoted initially. Put out the word, reach out to your community. Run promotional discounts, team up with other businesses around you and cross-promote services. Experiment with your promotional opportunities and advertise your business in the neighborhood.

The steps will help you establish a successful consignment business. This is a step-by-step guide on how to start a consignment store by utilizing every available opportunity in the market to build a consignment business.


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Engage CHRIS FARM NIGERIA to give you a professional business plans and a feasibility that will suit you demand today.

Chris Farm Nigeria develops well self-explanatory, irresistible feasibility studies or business plan for your Business start ups, Business Growth or Expansions through either personal funds, Grants, or loans, which could be new or existing ones. We delight in writing for people under Academic sectors, production sectors, manufacturing sectors, processing or packing sectors, advertising sectors, marketing sectors and other related sectors on mini, middle and large scale businesses.
For your Agribusiness, either production, processing, marketing of any Agro-industry, our feasibility studies or business plan are explicit.
Generally, our feasibility study and business plans are developed so well that it becomes irresistible when you show them to your investors or sponsors. It gives you a clear picture of what you are expected to see when you put the feasibility study or business plans into use. It also shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output, and how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. This will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. With that, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.


You can use this format in developing your own business Plans and feasibility Study

OUR TABLE OF CONTENT INCLUDE;

  • SECTION I – EXECUTIVE SUMMARY
  • NAME OF BUSINESS / COMPANY
  • OFFICE & SITE LOCATION
  • MOTIVATION
  • MISSION STATEMENT
  • SOCIAL/ECONOMIC VALUE
  • PROJECT STATUS & START UP
  • WHY PREPARE THIS BUSINESS PLAN?
  • SECURITIES FOR THE PROPOSED LOAN
  • REPAYMENT
  • SECTION II – STUDY AREA
  • STUDY AREA
  • COMPANY OVERVIEW
  • MANAGEMENT TEAM
  • DEPARTMENTS IN THE COMPANY
  • EXPERIENCE
  • MANAGEMENT TEAM GAPS
  • SECTION III – INDUSTRY ANALYSIS
  • DEFINING YOUR INDUSTRY
  • YOUR INDUSTRY SIZE GROWTH RATE AND SALES PROJECTIONS
  • INDUSTRY STRUCTURE
  • MARKET OVERVIEW
  • MARKET SEGMENTATION
  • RELEVANT MARKET SIZE
  • KEY SUCCESS FACTORS
  • LONG TERM PROSPECTIVE
  • MARKET CHARACTERISTICS
  • SAMPLING TECHNIQUE
  • SECTION IV – CUSTOMER ANALYSIS
  • TARGET CUSTOMERS
  • CUSTOMER NEEDS
  • MARKET NEEDS / SOCIAL PROBLEMS AND SOLUTIONS
  • BUYERS BEHAVIOUR
  • MARKET SHARE
  • SALES FORECASTING
  • SECTION V – COMPETITIVE ANALYSIS
  • DIRECT COMPETITORS
  • COMPETITIVE ADVANTAGES
  • SECTION VI – MARKETING PLAN
  • PRODUCTS & SERVICES
  • FINISHED PRODUCTS
  • PRODUCT QUALITY AND PRODUCTION QUANTITY
  • PRODUCTION CAPACITY
  • PRICING
  • PROMOTIONS PLAN
  • DISTRIBUTION PLAN
  • SECTION VII – OPERATIONS PLAN
  • GENERAL APPROACH TO PRODUCTION
  • TECHNICAL ANALYSIS / PRODUCTION PROCESS
  • EQUIPMENT
  • PACKAGING REQUIREMENTS
  • SECTION VIII – FINANCIAL PLAN
  • REVENUE MODEL
  • FINANCIAL ANALYSIS
  • FINANCIAL ASSUMPTIONS
  • FINANCE CHARGES
  • FINANCIAL PROJECTIONS
  • FUNDING REQUIREMENTS/USE OF FUNDS
  • CRITICAL ASSUMPTIONS



  • FINANCIAL MODELS
  • SUMMARY OF PROJECT COST
  • BUDGET OF FIXED ASSETS / CAPITAL EXPENSES / INVESTMENTS
  • DEPRECIATION
  • UTILITIES
  • OPERATING EXPENSES (OPEX)
  • TOTAL REQUIRED INVESTMENT OUTLAY (REQUIRED START-UP CAPITAL)
  • FINANCING PLAN
  • INSTALLED / AVAILABLE EQUIPMENT
  • BREAK-EVEN ANALYSIS
  • LOAN REPAYMENT SCHEDULE AND INTEREST PAID
  • FORECAST OF PROFIT AND LOSS
  • CASH FLOW
  • BALANCE SHEET
  • GENERAL ASSUMPTIONS (BREAK EVEN ANALYSIS)
  • BUSINESS RATIOS - PROFITABILITY ANALYSIS
  • CONCLUSION
  • SECTION 3 – APPENDIX

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·         NOTE; According to our policy, we are not “allowed / permitted” to disclose peoples business or written feasibility study, “to anyone”, irrespective of their personality.

·        BUT, WE are permitted to display only executive summary.
·         This is just a sample of our executive summary on poultry feasibility study and business plan, carried out in Rivers State. 

·         1st sample;



These Feasibility study on poultry farming business (specializing on layers and boilers production), was conducted using projections, impressive publications, compounding interest/values, tables, graph, bar chart, pie chart, profits analysis and cash flow positions in other to give a clear picture of what is obtainable in that location, using eight plots of land, at Esemdiary village, Off Effurun Sapele Road, Okpe LGA of Delta state, Nigeria as a case study. 



Esemdiary village is a community in Okpe Local Government Area of Delta State with coordinates 05°26’N 5°57’E, which also plays the host community to the Warri Airport, which is actually located at Osubi. 



Okpe Local Government is a territory that used to be part of the original Okpe Kingdom, its headquarters is at Orerokpe, with a population of 128,398 people whose primary occupations include commercial farming, fishing, hunting, trading and gas exploration. 



After carrying out the feasibility study on Esemdiary village, Off Effurun-Sapele Road, Okpe LGA of Delta state, Nigeria, it was discovered that, farming generally will do well both on crop and animal production.

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