How to Sell Antiques From Your House
Antiques bring big money these days. You only have to watch the "Antiques Roadshow" on PBS to see how popular antique collecting has become. Many antique dealers operate successful antiques businesses from their homes. A home-based business helps reduce overhead costs while building your capital. If you are an antiques collector, you probably have some of the inventory you need to start your business, which will help because attaining inventory is the biggest startup expense.
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Things You'll Need
- Local regulations handbook
- Homemade advertising fliers
- Website
- Accounting software
- Available room in your home
Instructions
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Set up your legal structure. Get all the necessary forms needed to establish a sole proprietorship. Investigate licensing requirements and zoning requirements prior to attempting to open the business. Advertise in local phone books and newspapers. Place fliers in grocery stores and shopping centers to get the word out that you are opening your business and the location.
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Open a bank account and apply for a tax number. Obtain the proper insurance coverage including liability requirements. Set aside unused space in your home to use exclusively for your business. Begin with a small amount of capital and as little equipment as you feel you can get by with having. You can always add other items when you make a profit. Set up an accounting system on the computer to keep track of expenses and cost of goods.
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Use your purchasing skills to buy items at bargain prices. Attend auctions and frequent garage sales and flea markets to check out merchandise you would like to add to your inventory. Be careful not to buy items that have little resale value. Stay abreast of current trends in the market.
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Contact known collectors in your area, or anyone you know who may have heirlooms they wish to sell. Enter into consignment agreements where you sell their items for them for a fee. You get a percentage of each sale as a commission for selling the items.
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Establish a website for selling online from home. Prepare an area to use for shipping items sold online. There are several websites that will assist you in setting up a webpage with antique items for sale. A website helps your business grow without incurring much of an expense. Reinvest your profits to grow your business.
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Tips & Warnings
Conduct a demographic survey to determine interest in the products. Develop a good system of keeping track of your inventory prior to opening the business.
Don't purchase collectibles just because you like them. Check out the market first.
References
- Photo Credit Photos.com/Photos.com/Getty Images
