How to Open an Antique Shop
You've always loved to collect antiques. In fact, you're running out of room at home to display all the items you've collected. If you also believe you have a head for business, then running an antique shop could be in your future. However, just like any business, selling antiques requires careful planning. Here are some ways to get your business off the ground.
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Instructions
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Get to know the product you want to sell. Use Kovels' and other antique guides to identify antiques, root out impostors and set prices.
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Look for treasures you can turn into cash in your friend's attic or basement. Poke around at yard sales, and hang out at auctions. Don't forget newspaper classified ads too.
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Test your local market, and learn what sells in the area you want to start your business. Pay close attention to the activity at auctions. Some areas of the country may go crazy for quilts, and in others auction-goers may want something entirely different, like carnival glass.
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Check out flea markets and tag sales, but try not to buy at retail price. Remember that you're looking for bargains that you can re-sell at a profit.
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Look long and hard before you decide on a location for your antique shop. Consider city demographics, location of competition, compatibility with other businesses, zoning regulations, parking, general appearance of the area and of course, cost.
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Calculate other costs for a retail shop such as utilities, telephone, insurance, fixtures, advertising and display needs. Luckily, you can use your antique furniture pieces to display smaller items (until someone wants to buy the vintage dining set with your lovely Fiesta table setting.)
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Seek help from the local Chamber of Commerce, merchant's association or the nearest field office for the Small Business Administration, which offers free assistance to small business owners.
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Tips & Warnings
Antiques are at least 100 years old, "near-antiques" are 75-99 years old, and vintage pieces are 25-74 years old.
Opening an antique store can be a costly undertaking. It if seems like too much too fast, consider starting off with an online antique business. Sell your wares at a craft fair or rent a space at an antique mall or flea market.
