Would like to start a second hand shop

JustAsk

Expert Member
Joined
Sep 11, 2007
Messages
2,591
#21
Hi everyone

I'm looking at starting a second hand shop/pawn shop and would just like to know if someone can advise on me how much I would need to start this type of business and run it successfully
Its not a sustainable business for the long term.

Can't you see Cash Converters has expanded to loans, and Cash Crusaders moved into new goods.Even the refurbished pc guys come and go.
 

acidrain

Expert Member
Joined
Jan 7, 2007
Messages
4,723
#23
Its not a sustainable business for the long term.
I seem to agree. Gumtree and the likes has basically done away with brick and mortar 2nd hand stores. I had a close friend who opened one up and was not long until he closed shop. Not sure of the reasons but if it was profitable or lucrative I'm sure he would not have closed.
 

Sparhawk

Well-Known Member
Joined
Aug 2, 2005
Messages
431
#25
If your attempt is for a general 2nd hand store with a little bit of everything then competing against the likes of Cash Convertors and Cash Crusaders will be an uphill battle. As mentioned there is really no need for a bricks and mortar store, you have lots of online tools available to sell product. Personally I would specialise in something niche and sell on Gumtree, Facebook, Bid or buy etc. If you get a decent lot then look at flea markets on weekends to sell direct to the public. This is a good place to meet and set up buys with potential clients.
 
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