How to Open an Antique Business for Cheap
Starting any type of small business will take some type of investment. But starting an antique business could be one of the more expensive small enterprises to begin. Obtaining antiques of value within any specific category (furniture, paintings, or collectables, for example) can require a significant investment. It isn’t uncommon for just one item of historic significance to cost thousands of dollars, so often the act of filling a storefront with quality antiques becomes cost-prohibitive. However, with the right strategy, a small businessperson can overcome the financial barriers to entering the antique business.
Other People Are Reading
Instructions
-
How to Open an Antique Business for Cheap
-
1
Decide on the category, class, or image your antique shop will maintain. Of course, starting as inexpensively as possible means that you can’t position yourself as a high-priced, exclusive shop; but there are a wide variety of types of shops that sell quality antiques at reasonable prices. The key is to focus your efforts in collecting a variety of antique pieces that fit well together to create an overall store image. For example, some shops will focus on a certain period of time like the '20s or the 19th century; other shops will focus on a certain type of item (antique statuary, prints or memorabilia, for example). The image or category you decide to focus on will direct your efforts in the pieces you decide to buy for your shop. Next, you’ll need to find inexpensive sources of product.
-
2
Collect any readily available antiques you might have in your attic, or in your friends' and family members' attics. Ask your friends and loved ones to donate what they might consider "old junk" to your store. You can also offer them a discount voucher for your first week of business. Or, if necessary, negotiate a low purchase price for their old goods. Often you can find unexpected value in the various storage areas of great aunts, grandparents and friends of advanced age.
-
-
3
Canvass your local area, calling all self-storage businesses to see whether there is any abandoned storage/property for sale. Some smaller self-storage locations will allow you to inspect the property or give you an inventory of the available property. You will likely have to purchase property by the lot (an entire storage unit of property at a time), but you can get an entire lot for less than $100, and these can yield several good pieces ready for resale.
-
4
Go to estate sales in more affluent parts of your town. Select neighborhoods where the population is older and more settled. These are great opportunities to acquire antique furniture and small pieces for prices below $100.
-
1
Tips & Warnings
Start early; when you decide to get into the antique business, unless you’ve inherited a warehouse full of antiques, you are likely 12 to 18 months away from a grand opening. Use this time to make deliberate and careful purchases that will draw customers and inspire sales.
Remember to start small. Don’t be afraid to select a smaller retail location to start. After you have a few successful years, you can upgrade your location.
