Increase Sales through Store Consignment

Placing your products on consignment in a hair salon, clothing boutique, card store, or a specialty gift store is an excellent way to increase your sales and profits. Many of these businesses welcome not having the expense of ordering products and keeping inventory of ordered stock. This is where you come in. Think about your products and what type of store setting they would best fit. Then make a list of the stores you want to approach. It helps if you know something about the establishment such as is the store located in a high traffic location, who shops in the store, what times does the store seem to be busiest, etc. Before approaching the owner or manager of a store make sure you have some samples of your products. Catalogs are helpful but seeing the actual product is what helps to close the deal.

Make an appointment with the owner or manager. This shouldn't be too difficult especially if you patronize the business on a regular basis or if you know someone who does that helps too. The biggest task may be working out the terms of your consignment. The first thing is to decide the percentage of each sale the store will receive. Once you decide on the percentage you'll know the retail price you should list your products at. I suggest a flat percentage between 10%-15%. Of course you do want to make a profit so you do need to consider:

  • What is your cost for the products?
  • How much do you want to make from the sale of an item?
  • Adjust your retail price according to the percentage that will be given to the store and profit you want.
  • Think about the time you'll spend ordering and restocking the store.
  • How much space the store manager or owner is willing to provide to you for your products? Will the space be free or will there be a rental fee? Will you have to provide shelf space?
  • Establish some agreement about how lost or broken items will be handled. This may effect the percentage you give to the store.

    • I recommend keeping a detailed inventory of each item you stock in the store that includes the date the item was stocked, a description of the item, quantity, item number, and retail price. You should also keep a record of any payments received from the consignment store. Keeping track of items that sale helps you to know which are popular and which items to restock quickly. As far as the sales tax, the store should handle all the sales tax.

    Lastly, I do recommend that you develop a standard consignment contact for your store owners. Some store owners may have their own, which is fine as long as it meets your needs.

    My name is Marjorie Malone. I have always had an entrepreneurial spirit and over the years I have been involved in many MLM networks. I enjoy people and selling quality products and services. I am currently the founder and owner of an e-commerce speciality store called Blue Angel Boutique. You will find a variety of products and services to meet your gift buying needs. You will discover unique giftwares, inspirational items, home accessories, jewelry, and other resources. We are the Home of Universal Treasures because the products and services are universal to all. There is something here for everyone. Please stop by and visit at http://www.blueangelboutique.com

    In The News:

    pen paper and inkwell


    cat break through


    The Returns of MLM

    Distributors are paid through compensation plans. These plans consist of... Read More

    Business Team Leadership: Pull Them, Dont Push Them

    This article is primarily directed toward people who work at... Read More

    MLM Recruiting - The 5 Types of Network Marketing Recruiters in MLM

    It is amazing.Every where I have the honor of speaking,... Read More

    How to Build Your MLM Business by Not Talking

    In my last article entitled "How to succeed in MLM... Read More

    When MLMs Go Bad

    There is no such thing as a totally fair MLM.... Read More

    5 Tips to Prepare Your Home Party Hostess

    One of the most important things to remember to have... Read More

    MLM Recruiting - The 5 Biggest Reasons People Struggle in Recruiting

    There are many people out in the MLM industry that... Read More

    Tips For Finding A Work At Home MLM Business Opportunity

    If you wish to start a work at home MLM... Read More

    Understanding MLM Compensation Plans

    IntroductionDown lines, up lines, overrides and spill over. Understand? Of... Read More

    Network Marketing and Other Business Models

    Before we move on to the definition of network marketing... Read More

    Why Would Anyone Consider Network Marketing

    Extra income, extra income, extra income! Residual income, residual income,... Read More

    MLM Blunders

    It's really strange! Too many people start an MLM business... Read More

    MLM Prospecting- The 4 Steps to BLAZING Network Marketing Prospecting

    What is MLM Prospecting?According to Webster's Dictionary, prospecting is looking... Read More

    Network Marketing Tips: Celebrate Your Failures - Every Failure Is A Step Closer To Success

    Dear friend, have you been trying and failing in every... Read More

    Finding The Intangible

    This article is dedicated to novice entrepreneurs who are struggling... Read More

    Online Network Marketing Business is Your Highway to generate more Passive Income Faster

    This is the fact of the world : People need... Read More

    MLM Business - The 7 Business Factors Test of a Multi -level Marketing Business

    So many people ask the same question: Is Multi-level Marketing... Read More

    What is MLM ?

    Multilevel Marketing is one of the fastest growing yet most... Read More

    MLM Recruiting- The Top 10 MLM Prospecting Tactics for Success

    You gotta have people to talk to in MLM Prospecting!INFERNO... Read More

    EXPLODE Your Network Marketing Team Into An INCREDIBLE Recruiting Machine!

    Let's face it! Most people who join a Network Marketing... Read More

    Time To Start Engaging With Your Downline

    When you start your network marketing home based business, you... Read More

    Home Based Network Marketing

    Working at home in network marketingHome based network marketing has... Read More

    Financially Free with Network Marketing?

    Are you also curious, but skeptical, about becoming financially free... Read More

    Quality Beats Quantity Every Time

    Back in the early days of developing my home based... Read More

    Network Marketing Tip: Do You Re-invent the Wheel or Just Drive the Car?

    There are those in the Network Marketing industry who would... Read More

    Making Money With Any MLM Program

    Multi-level Marketing companies abound by the thousands. A great many... Read More

    Why 95% of MLM or Network Marketing People Fail with Their Home Based Business

    Every MLM or network marketing operation offers the same promises... Read More

    Is A Good MLM Sponsor Important?

    You've found your new MLM product or service, it's a... Read More

    Network Marketing: How to Make it Work for You

    How or why some people excell at Network Marketing, while... Read More

    A Simple Step by Step Approach to Fail Your Way to a Financially Successful Home Based Business

    He (or she) who is the first to fail a... Read More

    Network Marketing Tips - Same Number of Years In The Business, So Why Different Results?

    The first time i went for my network marketing business... Read More

    3 Simple Tips Of Getting Referrals Without Any Fuss!

    The first thing any business organization owes itself is self-perpetuation.... Read More

    Effective Use of Traffic Exchanges

    Like them or love them, traffic exchanges always seem to... Read More