Rough Draft On How To Open Thrift Stores

There are many reasons to start a business. Some people go into business to make a huge profit in a specialized
industry. Other people go into business to satisfy a personal desire. There are also people and businesses that
start to make a difference in the community. Not for profit thrift stores were started to help the communities two
ways, sell things to people for a very low price and the proceeds from those sales would go to the charity to fund
further efforts.

With all the different charities, there are
many different people that want to open thrift stores to help a charity they are passionate about. Although it
isn't an easy task to open one, these stores are a great asset to the community once they are available.

One of the first steps in opening a not for profit thrift store is for the
potential owner to decide what charity they will partner with. Not for profit thrift stores use business practices
to earn money for their designated charity. While the store does make money, after all the bills and expenses are
paid, the remaining money is given to that charity.

Once the charity has been picked, owners should have a meeting with the charity's board members, owners and other
key personnel to discuss the best structure for the venture, financial arrangements and any legal obligations,
location and staffing. Once all these elements have been discussed, it is best to draft a complete business plan.
Also, the types of items to be sold in the store should be discussed. The business plan is the road map as to how
the thrift stores will operate. The business plan should include at the very least: a mission statement, 4 year
budget, marketing plan and organizational structure.


Once the business
plan for the thrift store is finalized, the paperwork should be filed. The paperwork should legalize the thrift
store as a not for profit. The paperwork that should be filed is different from state to state. During the time the
paperwork is being filed, locations should be investigated and considered.

Before the lease is signed, the owners should know what will be sold in the thrift store. If there is any
hesitation on deciding, market research will help determine what is needed in the community. Along with what will
be sold, training should be done about customer service, pricing and stocking merchandise. The owners should also
write policy manuals on how to handle daily duties and special situations that may occur. The staff should also be
well aware of the parent charity and all they stand for.

As the lease is being signed and a location is being considered, the owners of the thrift store should also keep
in mind drop offs and processing of donations. The space that is leased should be large enough to be comfortable
for customers to shop and hold merchandise. If the store is going to process donations, it should also have a place
to do that as well. As the store is being loaded with merchandise and fixtures, it should have a very clean
appearance and easy for customers to navigate.

Once the thrift stores' grand opening comes near, the owners and parent company may want to consider press
coverage and other media outlets appear. It is always good to draw attention to the store and let the public know
that it is there to service their needs. A great location and press coverage will help get the thrift store off to
a great start.