Entrepreneurship

Entrepreneurship for Antique Stores, small business, startups, management, finance, and planning.

competition

Competition Increases Sales

Dealers, would you rather be the only antique store in your town, or have a lot of competition? I asked that question often in my recent visit to the Hillsville, Va., Labor Day Flea Market. A surprising number of dealers answered that they prefer to have no competition at all. One dealer even boasted that […]

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Consignment Gold Rush

Consignment Gold Rush: the Ultimate Startup Guide

Another gold rush has begun in America, but the gold is disguised as second-hand goods. These goods are valuable, plentiful, and can be had for next to nothing. Unneeded household decor, clothing, electronics, musical instruments, antiques, artwork and more are being assigned to consignment shops at a fraction of their original retail value. Sales at […]

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inventory

Inventory, Investment, and Perception

The time to buy is when there’s blood in the streets Baron von Rothschild, the 19th-century British banking magnate, had a succinct investment philosophy: “The time to buy is when there is blood in the streets, even if that blood is your own.” The Baron would know: He made a fortune in the panic that […]

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small retailers

Small Retailers Surge Forward

Big Media seems to have missed the message about small retailers. CNBC, The Washington Post, CBS, Fox, USA Today, and most major news organizations are happy to assert that small retailers were out-of-touch, overwhelmed by online sellers. They seemed to have the facts to back up their stories: In 2017, around 6,700 U.S. storefronts closed, […]

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anchor pricing

Price Anchoring, Bundling, and Bracketing

I’m a sucker for a bookstore. I can’t seem to walk past one without going in, and I seldom go in without buying something. This has been a lifelong affliction of mine. When I was a teenager, my mother once asked me: “Why do you buy more books when you haven’t read all the ones you’ve […]

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price high for profit

How to Price High Enough to Assure a Profit

Have you ever seen the Edvard Munch painting “The Scream”?  If Munch doesn’t ring a bell, recall the scene in the movie “Home Alone” in which Macaulay Culkin shaves for the first time, and then applies after-shave to his raw face: hands slapped over his ears, eyes as big as saucers, he emits a scream […]

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antique shop

The Time is Right to Open an Antique Shop

It’s my opinion that the antiques business is the only retail business worth pursuing at the moment. If you’ve ever wanted to open an antique shop, now is the time to act. Consider the problems faced by commodity consumer goods retailers: In the past decade,“Big Box” stores have put scores of Main Street retailers out […]

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buyer fees

Pass-on Costs via Buyer Fees?

Buyer fees are much like kudzu: They are invasive, spread rapidly, and choke the life out of everything they touch. For those unfamiliar with the plant, kudzu was introduced into the United States at the 1876 U.S. Centennial Celebration by the Japanese contingent. It was immediately adopted in the Southern U.S. as cheap animal fodder […]

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parting with cash

The Pain of Parting with Cash (and the Joy of Getting It)

I like having cash to spend. I try not to spend it, but just having some and knowing that I could spend it if I want to feels good. I don’t think that I’m alone in feeling this way, either. Money affects people in physical ways and I recently stumbled onto proof that this is […]

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ebay fraud

eBay Fraud Protection Plan Boosts Your Sales

eBay fraud is in the news again. The headline reads: “Three eBay Fraud Rings Dismantled in Romania.” Romania must be a hotbed of Internet-scam artistry. Just a few years ago, a headline read: “Small Romanian Town Gets Rich Through eBay Scams.” They must be fast learners in Romania. The first attempts at eBay fraud included […]

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