Ahead of opening a business in your community, it’s imperative hopeful franchisees understand and assess the market's needs. Assessing community needs should direct you when deciding whether or not you should invest in a resale franchise. After all, choosing the right location for your store is one of the most important decisions you make as a business owner.
Here's more on how to tell if your community needs a resale franchise, as well as the benefits you can bring to your community by opening up a resale concept in the area.
Catering to Consumers Need for Affordable, Quality Items
With 10.1 million American's left unemployed over the last year, today's consumers have changed their spending habits to make their dollar last longer. No matter the product, consumers are looking to stretch their budget and purchase items that will bring the most value for the lowest cost.
This shift in consumer habits presents an excellent opportunity for resale franchise owners since we've perfected the "ultra-high-value" retailing niche in multi-channel format, selling high-quality used goods in a traditional retail format, through ecommerce and social platforms.
Our stores are known for offering affordable, quality used items. With a variety of resale franchises to choose from, members of your community can enjoy stylish gently used clothes with our three retail resale franchises, Plato's Closet®, Style Encore® and Once Upon A Child®. Aside from clothes, consumers can also buy affordable quality used music equipment at Music Go Round® and sporting goods at Play It Again Sports®.
Because the pandemic shifted consumer habits, now is the perfect time to capitalize and open a resale store within your community. Consider the retail options in your community and whether any stores cater to consumers’ needs for affordable and quality items.
Drawing on Consumer Trends Toward Sustainability
In addition to the need for affordable, quality used items, today's consumers are also eager to support sustainability. Consumers have increasingly shifted their shopping habits to adopt an eco-friendlier and more sustainable lifestyle.
This shift in shopping habits comes as consumers learn of the adverse environmental effects of the fast fashion industry. When clothes go to landfills, they create greenhouse gasses, which contribute to climate change. Consumers are learning that recycling or selling gently used clothes rather than tossing them lessens environmental impact.
Between 2018 and 2020, our five resale brands purchased a cumulative total of over 447 million units of clothing, toys, books, musical instruments and sports equipment, which has kept a multitude of products and merchandise out of landfills.
When considering whether to open a resale franchise in your area, assess whether or not your community already has resale or secondhand stores, and if so, what products they offer.
Contributing to Community Growth with Jobs and Cash for Goods
Not only can a resale franchise cater to consumer shopping trends, but it can increase community growth and involvement with job opportunities. As an owner and operator of any of our five resale franchises, you'll have a great opportunity to create jobs, lead and develop teams.
Aside from creating jobs, you're putting money back in consumers’ pockets as a resale franchise owner. Our stores allow customers to find quality used items at highly discounted prices and sell their clothing, sporting goods, music equipment and more for cash on the spot in most locations. Our business model caters to both the consumer and the franchisee because it creates an opportunity for recurring business by putting money back in consumers’ hands.
Consider the job market in your area and who might be a good fit as an employee of your store. Is there a need for jobs within your community? Also consider if your community would be interested in a resale concept, and if they'd be active in the buy and sell process.
Today, our local resale retail stores are positioned for strong demand and long-term success because there’s consistent consumer demand for affordable, quality used apparel, sports equipment, music gear and more.
Are you ready to bring a resale franchise to your community? Contact us today to learn more about Winmark resale franchise opportunities.