second hand store business plan pdf

Need a consultation? Call now:

Talk to our experts:

• Strategic Planning
• E1 Treaty Trader Visa
• E2 Treaty Investor Visa
• Innovator Founder Visa
• UK Start-Up Visa
• UK Expansion Worker Visa
• Manitoba MPNP Visa
• Start-Up Visa
• Nova Scotia NSNP Visa
• British Columbia BC PNP Visa
• Self-Employed Visa
• OINP Entrepreneur Stream
• LMIA Owner Operator
• ICT Work Permit
• LMIA Mobility Program – C11 Entrepreneur
• USMCA (ex-NAFTA)
• Online Boutique
• Mobile Application
• Food Delivery
• Real Estate
• Business Continuity Plan
• Buy Side Due Diligence Services
• ICO whitepaper
• ICO consulting services
• Confidential Information Memorandum
• Private Placement Memorandum
• Feasibility study
• Fractional CFO
• Business Valuation
• How it works
• Business Plan Templates

Thrift Store Business Plan Sample

Published Aug.23, 2018

Updated Sep.14, 2024

By: Brandi Marcene

Average rating 4.4 / 5. Vote count: 10

No votes so far! Be the first to rate this post.

Table of Content

Do you want to start thrift store business?

Do you want to start a thrift store? Well, if you want to start a business whose startup costs will be run over by the profits earned in the very few months, helping the underprivileged side by side, then this is undoubtedly the most suitable business for you.

A thrift store resembles opening a second hand store , in which you can keep used clothes, books, furniture, crockery or whatever you want, and sell them in relatively low prices. The thrift store owners gather the items by the rich community, which are in a position to be used again, and keep them in their stores.

Just like every other business, the first thing before starting a consignment shop is to make a business plan for thrift store , adding all the details and decisions about how will you manage to collect the items, how many persons will be required, which will be the most suitable location etc. As you might be starting this business without experience, you will be in need of a help regarding writing an professional business planning . You can take help from this s thrift store business plan sample  free of cost written for a thrift store startup named, ‘City Thrift Store’.

Executive Summary

2.1 the business.

City Thrift Store will be owned by Jude Daylon, who is a graduate from Harvard University. City Thrift Store will be located on Howard Street, one of the bustling streets of San Francisco. The business plan for thrift store is aimed to gather the used items which are in a condition to be used again and sell them at economical prices. The variety and number of the used items depend upon how vast do you want your business to expand. City Thrift Store is aimed to keep used clothes, books, toys, musical instruments, furniture items, small electronic instruments at the store with appealing presentation all the time.

2.2 Management

Management is the primary footstep on which the whole thrift store business stands. This business will require extraordinary management skills to make sure that the stock of items is available in the store every time and is displayed in the appealing way.

Jude has many unique thrift store marketing ideas , and he will act upon all by being the manager himself. Before starting a consignment shop business , Jude has planned all the policies and possible mechanisms for the smooth running of the store. He has hired a number of drivers and social workers to collect the items by roving in the whole San Francisco, which is a necessity to start a second hand store .

2.3 Customers

Our target market will be the residents who can’t afford expensive things and have relatively low income than the other citizens. Moreover, the people who are travelers, tourists, or students and want to buy reasonable but good quality goods for temporary use will also be our potential customers.

2.4 Business Target

We aim at becoming the most visited thrift store in the whole San Francisco. We aim at stabilizing our business plan for thrift store and balancing the initial startup costs with earned profits by the end of the first year.

The business targets and the profits as forecasted by our experts for the next three years are demonstrated in the following graph:

Company Summary

3.1 company owner.

City Thrift Store will be owned by Jude Daylon. Jude is a graduate and has been working as a senior manager in a prestigious restaurant for four years. Jude has done a lot of research on how to start a second hand store  and is passionate enough to help the underprivileged. He wants to start a trusted thrift store by collecting used products from the wealthier community.

3.2 Why the business is being started

San Francisco is the city, which is suffering from highest levels of income inequality. The difference of the income can be demonstrated by the fact that the city is divided in two groups of rich and poor, and the category being called as rich is the one which has 11 times income than that of the poor. An estimate shows that one out of ten families in the Bay Area are struggling to hardly make both ends meet.

Besides that, the rich community dispose of many things which are in usable or sometimes good state just because they get bored. Such people want someone to take away donations of clothes and other things from them and give to the poor, by usually putting them outside of their houses. So, Jude has decided to help the low-income and average households of his city by gathering those items and running a consignment shop .

3.3 How the business will be started

Don’t do the mistake of opening a consignment shop , without efficient planning. You will need the persons to load the luggage onto the vehicles and display them in different sections in the store. Jude has planned to make separate and arranged sections of the products so that customers can easily buy them. Jude has arranged the vehicles for loading the used items, he has made a list of the staff he will require to hire, moreover, he will also hire some good speakers to raise awareness among the wealthy to donate the things they don’t need.

If you are going to enter this venture you have to collect many things before starting the shop. But, this all can be done only by accurate planning. If you are new to the business plan for thrift store , you can take help from opening a consignment store ideas and plans available on the web like this one free of cost.

The financial experts have forecasted following costs for expenses, assets, investment, and loans for the startup.

Services for customers

If you are thinking about starting a second hand store , you must decide the things you will keep in your store. A thrift store can contain anything which can prove useful for the people. In case, you are a beginner in this business and don’t know much about how to open a second hand store , you can take help from this thrift store business plan sample of City Thrift Store. This sample business plan will not only guide you in opening the store but will also assist you by explaining how to run a consignment store successfully.

The City Thrift Store has hired skilled repairers to repair any type of damages to the second-hand objects and make them reusable. Our store will sell the following items.

• Furniture: We’ll clean and polish the furniture items such as wooden tables, chairs, cradles, old rugs and carpets, cupboards, etc. which are in a reusable condition and sell them to at very low and economical prices.
• Clothes, Shoes & Books: The reusable books, shoes, fashion accessories, and clothes like dress shirts, sweaters, jackets etc. will also be kept at the store to be purchased by the low-incomes.
• Small Electronic Devices: We will also sell the technology products and small electronics such as cell phones, microwaves, printers, mobile and computer accessories, storage devices and much more than that.
• Sports Equipment & Musical Instruments: This type of inventory is often found in the solely new condition as people after getting bored put their guitars, pianos, rackets, footballs and the things like that outside their house to be taken by someone, so we have decided to keep such reusable things in our shop.
• Miscellaneous: Besides the above-mentioned necessities of living, we will also keep the miscellaneous items like crockery, decoration pieces, baskets, plastic products etc.

Marketing Analysis of thrift store business

The most significant component of a thrift store business plan is its precise and accurate marketing analysis. Marketing analysis will help you to understand the position and demand of this business plan for thrift store in the latest market. It is important as it can help you in finding the most suitable location for your store. The location which will be frequently visited by your target customers and your donors. Your consignment shop business plan  must also include the strategies and policies you’ll adapt to market your services and how effectively can you gain and maintain your potential donors.

So, if you have any doubts and confusions regarding how to start a consignment shop business , you can take help from the thrift store business plans available online, you can also take help from this thrift store business plan sample  for City Thrift Store. You can also have the opportunity of downloading business plan for thrift store pdf from the web. No matter, how many business plans you read before writing yours, that cannot be equivalent to a single consignment store business plan  written by a professional marketing analyst. It would be better for you to seek the services of a professional to make for you a thrift store business plan template . A professional can better understand the marketing trends and do accurate marketing analysis and segmentation of your location before making a thrift store business model  for you.

5.1 Market Trends

Due to the rising economic inequality in the city and financial stress on the underprivileged and the average, people are now trying to cut their discretionary spending and are fascinated towards the idea of buying second-hand things on reasonable prices. The industry of selling used goods is growing at a noticeable rate of 2.6% annually. According to IBISWorld, there are about 84,037 such businesses running in the United States, employing more than 267 thousand people in the whole country. No matter, how many businesses of thrift store are currently running in the country, there is still demand of more in some areas, like the one for City Thrift Store.

If you are thinking that how can you generate a profit by selling the goods at almost no prices, whereby you have to bear the expenses of the staff you hire, don’t worry current report by IBISWorld has shown that this business has generated $20 billion at an annual rate.

These statics shows that you can also earn a massive profit besides helping people, provided that you plan your business plan for thrift store successfully.

5.2 Marketing Segmentation

Our customers will be the people with average financial background. Most people living in the Bay Area of San Francisco do not have enough incomes to meet their expenses in a rich city. These people lust for the items like clothes, furniture etc. and are convenient in buying used items. It is also a requirement of this business to attract notable and rich people for maximizing our donations, they will not be our customers, they will be our need. We’ll arrange seminars and advertise the need of their donations through social media.

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Moneyless Senior Citizens: According to a report by City Performance Scorecards, more than 15 thousand senior citizens are living below the poverty level in San Francisco. The health and age of such people don’t allow them to meet their needs by hard work.

5.2.2 Underprivileged Children, Teens & Adults: There are many children and teens in the city who desire to buy good clothes, tech-based things, or sports equipment and musical instruments, but the reality is that most of their desires remain unfulfilled due to the costs of such items. Moreover, about 61 thousand young and adults are living below the poverty level in San Francisco, according to the same report. So, our marketing analyst has identified this as our largest target group in buying used goods.

5.2.3 Tourists & Students: There are often situations when you are roaming in another country, but due to wrong estimates, become out of budget. So, the tourists or students who have to cut their discretionary needs, temporarily, will also be one of our target groups.

5.3 Business Target

We aim at serving more and more needy and average people of our city to help them in raising their status and spirits. Our aim is to become the most visited thrift store in our city and the most trusted thrift store in the eyes of donors. We also aim to balance the initial startup costs with the profit earned in only a few months after the launch.

5.4 Product Pricing

Our main target is to serve the underprivileged community of the city, but, due to requirements of staff, wages of employees, costs of inventory, and expenses of transportation, we can’t sell the items totally free of cost. However, we have priced all the items at very meager and low costs to meet the targets of our business plan for thrift store .

Great service

Great service. Good turnaround time and quality work. Thanks!

If you are opting for starting a consignment store , you must prepare an effective and detailed business plan first. If you want your business plan to be complete and outstanding than instead of focusing on just how to open a consignment store you should also focus on how to run it successfully and how to pull the traffic to your site. If you are having difficulty about how to start a thrift store business plan, you can take help from this sample business plan for the City Thrift Store.

6.1 Competitive Analysis

Our biggest competitive advantage is the location which we have chosen after a great research and analysis. Our store is located on the main street of San Francisco, which is a street every citizen encounter while travelling in the city, as it connects the residential communities to the offices, institutes and recreational places. When so many people pass by our shop daily, a large number of them will be surely attracted toward our beautiful display through the large sized windows.

Our second competitive advantage is our excellent management system. We’ll collect the item which are in a good condition daily and display them in well-organized separate sections in our stores for the convenience of our buyers. Moreover, we have a quick transport facility for the rich people who want to donate their goods to us in large amounts.

6.2 Sales Strategy

For promoting our sales, we will advertise our store in local magazines, newspapers and social media. We will also distribute our flyers in nearby schools and colleges. We’ll post our banners in well-off residential communities.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts.

Personnel plan

No matter how much you invest your assets on your startup, it is all going to be wasted if you don’t have honest and dedicated workers. Before you open a consignment store , you must make a list of the workers you’ll need to hire. You should train your staff before starting your shop that how to value the needs of customers and help them in finding the best product for them.

If you are searching for how to start a consignment store,  then you can take help from this sample business plan for thrift store in which we have a complete guide on how to run a consignment shop . This thrift store business plan sample will guide you by informing you about the staff Jude will hire for running the City Thrift Store.

7.1 Company Staff

Jude will manage the overall operations and will hire the following people for his assistance.

• 1 Accountant for maintaining financial and other records
• 2 Cashiers for selling products and maintaining records
• 6 Salespersons for organizing the store and its different sections and assisting customers in finding their required item
• 3 Drivers for collecting products from the whole city every morning
• 5 Technicians/Workers/Sewers/Menders for repairing and reviving used things
• 2 Cleaners for maintaining freshness and cleanliness of the store
• 2 Persons responsible for advertisement of the store

Financial Plan

The first step before starting any business is to make a comprehensive business plan, and the most important part of an effective thrift store business plan is its financial plan. Before you start a consignment shop , you must collect a lot of items to keep in your store. You can find them free of cost but to be good and distinguished, you should sell these products after reviving them. For managing the costs of their repairs, the rent of your store and the salaries of your employees, you will need money initially. So, in your financial plan, you have to plan the ways of balancing your expenses with the profits earned. Although the business plan for thrift store is in great demand and has is responsible for generating a lot of profit annually, but besides thinking about how to start a consignment shop , you should also think about the worst situations you can face financially.

If you are searching for profit thrift store business plan and need help in writing an effective financial plan, you can take help from this sample business plan for thrift store on how to open a consignment shop . The statics and figures in this sample business plan are for the City Thrift Store, so, it is advised to hire a professional financial planner advisor, who can write for you an accurate financial plan according to your investments and sales.

8.1 Important Assumptions

The company’s financial projections are forecasted on the basis of following assumptions. These assumptions are quite conservative and are also expected to show deviation but to a limited level such that the company’s major financial strategy will not be affected.

  8.2 Brake-even Analysis

The following graph shows the company’s Brake-even Analysis.

 8.3 Projected Profit and Loss

8.3.1 profit monthly.

The following charts shows detailed information about profit and loss, and total cost of sales.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

The following column diagram shows the projected cash flow.

Download Thrift Store Business Plan Sample in pdf

OGS capital writers specialize in business plan themes such as lingerie store business plan , snicker shoes business plan , clothing store business plan , bridal shop business startup , business plan for clothing store and many others.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rated document, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

Any questions? Get in Touch!

We have been mentioned in the press:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Search the site:

Thrift Store Business Plan Template

Written by Dave Lavinsky

Thrift Store Business Plan

You’ve come to the right place to create your Thrift Store business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Thrift Stores.

Below is a template to help you create each section of your Thrift Store business plan.

Executive Summary

Business overview.

Thrifty Treasures is a startup thrift store company located in Buford, Georgia. The company was founded by Georgia Mae Dutton, a thrift store maven with over forty years experience as both a shopper and customer advisor inside thrift stores. After many years of observing the best model for a thrift store; including customer assistance, operations, pricing, stocking inventory, and other practical knowledge, Georgia Mae decided to open her own thrift store to put all those pieces of practical knowledge to work.

Thrifty Treasures will focus on select areas of the best-selling categories for thrift stores: apparel, accessories, furniture, seasonal items, toys, household goods, kitchen items, and heritage favorites (crystal, silver, linen, cutwork, etc). Her plan is to provide everything needed to build the interior of a home while doing so on a dime. Thrifty Treasures will become the one-stop shop for gently-used items and apparel to suit every buyer, from the youngest shopper to the seniors.

Product Offering

The following are the products and services that Thrifty Treasures will provide:

• Gently-used apparel, accessories, furniture, seasonal items, toys, household goods, kitchen items, and heritage favorites
• Rotating inventory items every 30 days
• Clean bicycles and riding toys in good working order
• Respectful and courteous service for every customer
• Leadership training for staff members
• Generous 30-day return policy

Customer Focus

Thrifty Treasures will focus on the residents of Buford, Georgia and those within the surrounding region. They will target owners of gently-used items who want to donate items to be used for families within the community. They will target community organizations who will benefit from acquiring items from Thrifty Treasures for offices, meeting areas, and community kitchens. They will target local store owners who want to give away or sell for greatly reduced prices certain inventory items they hold.

Management Team

Thrifty Treasures will be owned and operated by Georgia Mae Dutton. She has recruited her former shopping assistant, Beula Simpson, to be the office manager and part-time salesperson. Georgia Mae has also recruited the maintenance worker from her church, Johnny Clarkson, to assist in cleaning and maintaining order in the store on a part-time basis.

Georgia Mae Dutton has been a thrift shopper for over forty years, beginning when she was eleven years old. She has observed and witnessed over the years the patterns, inventory, and customer service processes that work best, along with those that don’t. She is a graduate of Buford Community College, where she earned a business certificate.

Beula Simpson has been a shopping assistant for ten years for Georgia Mae, helping in the selection of items and disbursal of those items to friends and family members in need. She has been trained by Georgia Mae to select the best inventory items and to offer these items at reasonable prices.

Johnny Clarkson is a part-time maintenance worker at a local church that sits on a multi-acre property. He oversees one helper, who assists with cleaning, organizing, and maintaining the interior rooms of the church, as well as the outer grounds and landscaping of the areas around the church. Johnny has been employed at this job for over five years and has built an excellent reputation as a person “you can trust.”

Success Factors

Thrifty Treasures will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly-qualified team at Thrifty Treasures
• A wide array of products that will appeal to all buyers, from household items to heritage favorites. There will be something for everyone to appreciate and purchase.
• Thrifty Treasures will offer discounts on gently-used items, increasing discounts throughout the one-month inventory period, until 75% discounts are applied during the last week of each month.
• Inventory is sold and restocked every thirty days; merchandise is never “old and tired.”
• Thrifty Treasures offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Thrifty Treasures is seeking $200,000 in debt financing to launch Thrifty Treasures. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the financial projections for Thrifty Treasures.

Company Overview

Who is thrifty treasures.

Thrifty Treasures is a newly established full-service thrift store in Buford, Georgia. Thrifty Treasures will be the most reliable, cost-effective, and enjoyable store for customers of all ages in Buford and the surrounding communities. Thrifty Treasures will provide a comprehensive inventory of items that will solve the issues or concerns of their customers, as each finds what it needed at reasonable and practical prices. Their full-service approach includes comprehensive training extended to each employee upon hire. This ensures fully-trained staff members who want to give their personal best efforts to each customer.

  Thrifty Treasures will be able to effectively purchase, stock and sell inventory every thirty days. The team of professionals are highly qualified and experienced in thrift store buying and selling. Thrifty Treasures removes the concerns of customers who need items or apparel and can’t afford those items at a full-price store. Thrifty Treasures also ensures all issues are taken care of expeditiously while delivering the best customer service.

Thrifty Treasures History

Since incorporation, Thrifty Treasures has achieved the following milestones:

• Registered Thrifty Treasures, LLC to transact business in the state of Georgia.
• Has a contract in place at one of the suburban retail strip malls to lease sales space and an office space, totalling 15,000 square feet.
• Reached out to numerous friends and associates to include Thrifty Treasures as a primary store of choice.
• Began recruiting a staff of three sales representatives and office personnel to work at Thrifty Treasures.

Thrifty Treasures Products and Services

The following will be the products and services Thrifty Treasures will provide:

Industry Analysis

The retail thrift store industry is expected to grow over the next five years to over $64 billion. The growth will be driven by consumers who will shop for lower-priced items as a result of inflation. The growth will also be driven by consumers who want to reuse items as sustainable responsibility is a personal goal. The growth will also be driven by younger consumers who seek certain memorabilia from past decades, fashions from former decades, or those who enjoy items that never seem to wear out. Costs will likely decrease as more and more consumers want to share gently-used items with others who are less fortunate. This will result in more availability and lower costs for thrift store owners.

Customer Analysis

Demographic profile of target market, customer segmentation.

Thrifty Treasures will primarily target the following customer profiles:

• Residents of Buford and surrounding areas
• Businesses that need to acquire furnishings or household items
• Local store owners who may want to buy or sell items
• Community organizations who may want to buy or sell items

Competitive Analysis

Direct and indirect competitors.

Thrifty Treasures will face competition from other companies with similar business profiles. A description of each competitor company is below.

Traci’s Thrift Taxi

Traci’s Thrift Taxi is a mobile store featuring used women’s apparel. The owner, Traci Fordham, purchases “used and returned” women’s apparel in bulk from wholesale companies and sells the items via her mobile store. Traci did not want to incur the expense related to a retail store; therefore, she moves her mobile store to various neighborhoods where her customers congregate to visit and purchase her inventory on wheels. She holds an inventory of up to 200 clothing items for women at one time and uses her oversized van as her mobile showroom, where she can invite up to five women at a time to enter her “store” to shop for used appeal.

By using her van as her store, Traci saves on the expenses related to a brick and mortar store, however she pays for fuel and maintenance on her van, which dilutes her economy somewhat. Traci uses a software program that details where the van will be located and sends a text message to any woman customer to alert customers when the van is in their geographic area. Traci cleans out her inventory every 60 days, or whenever she sells out of inventory.

Annie’s Simple Memories

Annie Swanson has been a collector of dolls for over forty years. During that time, she’s amassed an enviable 400 dolls, many of them complete with clothing and accessories. Annie decided to open a shop to highlight her dolls, selling them as customers preview them, along with other memorabilia related to dolls and the toys girls and boys have loved throughout the years.

Annie’s Simple Memories is focused on the Atlanta, Georgia area, where her shop is located on the outskirts of the city in a suburban mall. Her specialty of dolls and toys defines her customer base. She introduces her shop to local schools and offers various discounts and special promotions to the schools in order to successfully highlight her store in the region.

The consumer target market for memorabilia has continued to grow over the past few decades and, as consumers have more expendable income in this and projected years ahead, they will continue to acquire dolls and toys that represent special memories of the past.

Shifty’s Thrifty Auto Parts

Although not a direct competitor to Thrifty Treasures, Shifty’s Thrifty Auto Parts can be considered an indirect competitor, as the inventory for sale is used. The available inventory contains workable, used auto parts from automobiles of several decades. For the car aficionado, Shifty’s Thrifty Auto Parts is a dream come true, with auto parts from a wild array of cars from all over the world.

Shifty’s Thrifty Auto Parts has been in business since 2005 and has expanded from a small 500 square foot corner hub to a 3,000 square foot store. Customers purchase via in-store selections; however, Shifty’s Thrifty Auto Parts has built a considerably larger online presence during the past ten years, as much of the available inventory is highlighted on the website with the ability to purchase and receive parts in their own home. This part of the business has garnered multiple new customers and boosted the walk-in customer base of the initial years of business.

Competitive Advantage

Thrifty Treasures will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Thrifty Treasures will offer the unique value proposition to its clientele:

• Highly-qualified team of skilled employees who are able to provide stellar customer service as they assist customers with purchases, returns, and questions that may arise.
• Steady rate of inventory turnover every 30 days that ensures fresh stock of apparel and other items from which to choose.
• Movable discount rates that offer customers an opportunity to save even more on inventory items.
• Inventory that holds value for everyone in the community.

Promotions Strategy

The promotions strategy for Thrifty Treasures is as follows:

Word of Mouth/Referrals

Thrifty Treasures has built up an extensive list of friends and associates over the years by providing expert advice to other shoppers for thrift items. Thrifty Treasures will be the culmination of years of knowledge-put-into-practice, as everyone helps by spreading the word of Thrifty Treasures.

Professional Associations and Networking

Thrifty Treasures will network extensively among community groups and clubs that may require furnishings or some types of inventory that can be purchased at lower-priced rates. Special discounts will be offered to these groups during the first three months of business.

Print Advertising

All residents of the Buford and surrounding communities will receive a direct mail piece, offering a discount for visitors to the store who make a purchase during the first three months of business.

Website/SEO Marketing

Thrifty Treasures will fully utilize their website, sharing photos and video reels of current and new stock items for sale. The website will be well organized, informative, and list all inventory categories that Thrifty Treasures provides. The website will also list their contact information and list their open hours. The website presence will be enhanced with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “thrift company” or “thrift store near me”, Thrifty Treasures will be listed at the top of the search results.

The pricing of Thrifty Treasures will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Thrifty Treasures. Operation Functions:

• Georgia Mae Dutton will be the Owner and President of the company. She will oversee all staff and manage client relations. She has spent the past year recruiting the following staff:
• Beula Simpson will be the Office Manager who will handle the office administration, inventory management, and accounts payable.
• Johnny Clarkson will be the Maintenance Manager at the store, overseeing the placement and care of the inventory, as well as the cleanliness and maintenance of the store.

Milestones:

Thrifty Treasures will have the following milestones completed in the next six months.

• 5/1/202X – Finalize contract to lease store and office space
• 5/15/202X – Finalize personnel and staff employment contracts for the Thrifty Treasures
• 6/1/202X – Finalize contracts with wholesale companies for Thrifty Treasures inventory
• 6/15/202X – Begin networking at community events
• 6/22/202X – Begin moving into Thrifty Treasures store and office
• 7/1/202X – Thrifty Treasures opens its store for business

Beula Simpson has been a shopping assistant for ten years for Georgia Mae, helping in the selection of items and disbursal of those items to friends and family members in need. She has been trained by Georgia Mae to select the best inventory items and to purchase these items at reasonable prices.

Financial Plan

Key revenue & costs.

The revenue drivers for Thrifty Treasures are the fees they will charge to customers for their product purchases.

The cost drivers will be the overhead costs required in order to staff Thrifty Treasures. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Thrifty Treasures is seeking $200,000 in debt financing to launch its retail store. The funding will be dedicated toward securing the store and office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Customers Per Month: 150
• Average Revenue per Month: $36,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, thrift store business plan faqs, what is a thrift store business plan.

A thrift store business plan is a plan to start and/or grow your thrift store business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Thrift Store business plan using our Thrift Store Business Plan Template here .

What are the Main Types of Thrift Store Businesses? 

There are a number of different kinds of thrift store businesses , some examples include: Vintage thrift store, Consignment thrift store, and Goodwill thrift store.

How Do You Get Funding for Your Thrift Store Business Plan?

Thrift Store businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Thrift Store Business?

Starting a thrift store business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Thrift Store Business Plan - The first step in starting a business is to create a detailed thrift store business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your thrift store business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your thrift store business is in compliance with local laws.

3. Register Your Thrift Store Business - Once you have chosen a legal structure, the next step is to register your thrift store business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your thrift store business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Thrift Store Equipment & Supplies - In order to start your thrift store business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your thrift store business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful thrift store business:

• How to Start a Thrift Store

Related Sectors and Templates

Retail Business Plan Template Grocery Store Business Plan Template Bookstore Business Plan Template

Item added to your cart

Download all the resources to establish a thrift store.

Let's make sure your secondhand shop will be profitable!

Here is a free business plan sample for a thrift store

If the idea of opening a thrift store excites you but you're unsure of how to get the ball rolling, you've landed on the perfect page.

In the content that follows, we will present to you a comprehensive sample business plan tailored for a thrift store.

As an aspiring entrepreneur, you're likely aware that a solid business plan is crucial for laying the foundation of a successful venture. It serves as a roadmap, outlining your vision, objectives, and the strategies you plan to implement to achieve them.

To streamline the process of crafting an effective plan, feel free to utilize our thrift store business plan template. Additionally, our specialists are on standby to provide a complimentary review and refinement of your plan.

How to draft a great business plan for your thrift store?

A good business plan for a thrift store must cater to the unique aspects of the second-hand retail industry.

Initially, it's important to provide a comprehensive overview of the thrift store market. This should include current statistics and an examination of emerging trends within the industry, as outlined in our thrift store business plan template .

Your business plan should articulate your vision clearly. Define your target demographic (such as budget-conscious shoppers, vintage lovers, or eco-conscious consumers), and establish your thrift store's distinctive appeal (affordability, vintage collection, local community focus, etc.).

Market analysis is a critical component. This requires a thorough understanding of your competitors, market dynamics, and the shopping habits of potential customers.

For a thrift store, it's imperative to detail the types of products you will offer. Describe your inventory - clothing, furniture, books, household items - and how these items will cater to the preferences and needs of your clientele.

The operational plan should be well thought out. It must include the location of your thrift store, the layout of the shopping and storage areas, sourcing strategies for inventory, and the process for sorting and pricing items.

Given the nature of a thrift store, it is crucial to emphasize your approach to inventory acquisition, product curation, and quality control.

Then, delve into your marketing and sales strategy. How do you plan to attract shoppers and encourage repeat business? Discuss promotional tactics, customer loyalty programs, and potential additional services (such as consignment or upcycling workshops).

Incorporating digital strategies, like maintaining an online store or active social media profiles, is increasingly important for reaching a wider audience.

The financial section is vital. It should outline the initial investment, projected sales, operating expenses, and the point at which the business will break even.

In a thrift store, inventory management can be complex due to the variability of items, so precise planning and a solid understanding of your financials are essential. For assistance, consider using our financial forecast for a thrift store .

Compared to other business plans, a thrift store's plan must pay closer attention to sourcing strategies, inventory turnover, and the potential for community engagement and environmental impact.

A well-crafted business plan will not only help you clarify your strategy and vision but also attract investors or secure loans.

Investors and lenders are looking for a robust market analysis, realistic financial projections, and a clear plan for day-to-day operations.

By presenting a thorough and substantiated business plan, you showcase your dedication and readiness to make your thrift store a success.

To achieve these goals while saving time, you can fill out our thrift store business plan template .

A free example of business plan for a thrift store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a thrift store .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The secondhand retail market, particularly thrift stores, has seen a surge in popularity in recent years.

Recent studies have shown that the global market for secondhand apparel is projected to grow significantly, with estimates suggesting it could reach around $64 billion by 2028. This growth is fueled by a shift in consumer behavior towards more sustainable and affordable shopping options.

In the United States alone, there are thousands of thrift stores, contributing to a substantial portion of the retail sector. These stores not only provide affordable clothing options but also support recycling and sustainability efforts.

The increasing interest in thrift shopping highlights the sector's potential for economic growth and its role in promoting a circular economy.

The thrift store industry is riding the wave of several key trends that are shaping consumer behavior.

Eco-consciousness is at the forefront, with more consumers looking to reduce their carbon footprint by purchasing secondhand items. The 'thrifting' trend is also popularized by social media influencers who showcase unique vintage finds and upcycled fashion.

Minimalism and decluttering movements, such as the Marie Kondo effect, have encouraged people to donate items they no longer need, thus enriching the inventory of thrift stores.

Technology has also made its mark on the industry, with online thrift stores and apps making secondhand items more accessible to a broader audience.

Lastly, the desire for individuality in fashion has driven shoppers to thrift stores in search of unique and vintage pieces that stand out from mainstream retail offerings.

These trends demonstrate the thrift store industry's adaptability and its alignment with contemporary consumer values and preferences.

Success Factors

Several factors contribute to the success of a thrift store.

First and foremost, a diverse and high-quality inventory is crucial. Stores that offer a wide range of unique, well-maintained items can attract a broader customer base.

Location is also key; thrift stores situated in high-traffic areas or near trendy neighborhoods tend to perform better.

Creating a pleasant shopping experience, with well-organized displays and helpful staff, encourages customers to return and increases word-of-mouth referrals.

Marketing strategies, particularly through social media, can help a thrift store reach a wider audience and tap into the community of environmentally and budget-conscious shoppers.

Lastly, efficient operations and inventory management are essential for keeping costs down and ensuring the sustainability of the business.

By focusing on these success factors, thrift stores can thrive in the competitive retail landscape and appeal to consumers looking for sustainable and affordable shopping options.

The Project

Project presentation.

Our thrift store project is designed to provide the community with an affordable and sustainable shopping alternative. Situated in a high-traffic urban area or near residential neighborhoods, this thrift store will offer a diverse selection of pre-loved items, ranging from clothing and accessories to furniture, books, and household goods, all curated for quality and appeal.

The emphasis will be on the uniqueness, affordability, and quality of the items to deliver a treasure-hunt shopping experience.

This thrift store aims to become a community hub for sustainable shopping, promoting environmental consciousness by encouraging the reuse and recycling of goods, thus contributing to a more sustainable lifestyle for our customers.

Value Proposition

The value proposition of our thrift store project is centered on providing a unique and affordable shopping experience while promoting sustainability. Our commitment to offering a diverse range of quality second-hand items caters to budget-conscious and environmentally aware consumers.

We are dedicated to creating a welcoming atmosphere where everyone can find something they love, and aim to educate our customers about the environmental benefits of thrifting.

Our thrift store seeks to be a cornerstone of the community, offering a meaningful alternative to fast fashion and disposable culture, and enhancing the lives of our customers through sustainable consumer practices.

Project Owner

The project owner is an entrepreneur with a passion for sustainability and community service.

With experience in retail management and a strong commitment to environmental stewardship, they are determined to establish a thrift store that stands out for its dedication to quality, affordability, and eco-friendly initiatives.

With a vision of promoting sustainable living and reducing waste, they are resolved to provide a shopping experience that not only saves money but also contributes to the well-being of the planet.

Their commitment to community and sustainability is the driving force behind this project, aiming to inspire a shift towards more conscious consumption and a greener future for the community.

The Market Study

Market segments.

The market segments for this thrift store are diverse and include a variety of customers.

First, there are budget-conscious individuals and families looking for affordable clothing, furniture, and household items.

Next, there are environmentally conscious consumers who prefer to purchase second-hand items to reduce waste and support sustainability.

The market also includes collectors and vintage enthusiasts searching for unique and rare finds.

Finally, fashion-forward individuals seeking to create unique styles with vintage and retro pieces can be a key segment, as they often frequent thrift stores for inspiration and distinctive clothing options.

SWOT Analysis

A SWOT analysis of this thrift store project highlights several factors.

Strengths include a wide variety of unique and affordable items, a loyal customer base, and a strong commitment to sustainability and community support.

Weaknesses could include the unpredictability of inventory quality and quantity, as well as the challenge of maintaining a well-organized and attractive store layout.

Opportunities lie in the growing trend of thrifting and upcycling, as well as the potential to partner with local charities and community programs.

Finally, threats could include the increasing popularity of online second-hand marketplaces and the potential for economic downturns affecting consumer spending.

Competitor Analysis

Competitor analysis in the thrift store sector reveals a mix of competition.

Among direct competitors are other local thrift stores, consignment shops, and larger chain second-hand stores.

These competitors vie for the attention of cost-conscious and environmentally aware shoppers.

Potential competitive advantages include a strong community presence, unique product offerings, and exceptional customer service.

Understanding the strengths and weaknesses of competitors is crucial for carving out a niche in the market and fostering customer loyalty.

Competitive Advantages

Our thrift store's competitive advantages lie in our carefully curated selection of items and our commitment to the community.

We offer a wide range of products, from vintage clothing to refurbished electronics, ensuring that there is something for everyone.

Our dedication to providing a unique shopping experience, coupled with our efforts to support local initiatives, sets us apart from competitors.

We also pride ourselves on creating a welcoming and inclusive atmosphere, where customers can enjoy the thrill of the hunt and feel good about their purchases supporting sustainable practices.

You can also read our articles about: - the customer segments of a thrift store - the competition study for a thrift store

The Strategy

Development plan.

Our three-year development plan for the thrift store is designed to be both sustainable and growth-oriented.

In the first year, we will concentrate on building a strong local presence and reputation for offering quality second-hand goods at affordable prices.

The second year will focus on expanding our reach by establishing an online storefront and considering additional physical locations in neighboring communities.

By the third year, we aim to diversify our product offerings to include upcycled and vintage items and to collaborate with local artists and makers for unique merchandise.

Throughout this period, we will remain dedicated to our eco-friendly ethos, community engagement, and providing exceptional value to our customers as we solidify our market position.

Business Model Canvas

The Business Model Canvas for our thrift store targets environmentally conscious consumers and bargain hunters, as well as those interested in unique and vintage finds.

Our value proposition lies in offering a wide range of affordable, gently-used items, promoting sustainability, and supporting the local community.

We sell our products through our brick-and-mortar store and an online platform, utilizing key resources such as our carefully curated inventory and our knowledgeable staff.

Key activities include sourcing quality second-hand goods, merchandising, and community outreach.

Our revenue streams are generated from the sales of second-hand goods, while our costs are mainly associated with inventory acquisition, store operation, and marketing efforts.

Access a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on community engagement and value creation.

We aim to build a loyal customer base by showcasing the unique character and affordability of our inventory. Our approach includes local advertising, social media campaigns, and hosting community events.

We will also establish partnerships with local charities and organizations to enhance our community impact and visibility.

Additionally, we will leverage influencers and customer testimonials to expand our reach and reinforce the benefits of sustainable shopping.

Risk Policy

The risk policy for our thrift store focuses on mitigating risks associated with inventory quality, market fluctuations, and operational efficiency.

We implement strict quality control measures to ensure all items meet our standards before being sold. We also keep a close eye on market trends to adjust our inventory and pricing strategies accordingly.

Operational risks are minimized through efficient store management and staff training. We also maintain a conservative financial approach to prevent overextension.

Furthermore, we have appropriate insurance policies in place to protect against unforeseen events and liabilities. Our priority is to provide a safe, enjoyable shopping experience while maintaining the trust and satisfaction of our customers.

Why Our Project is Viable

We are committed to establishing a thrift store that serves the dual purpose of promoting sustainable consumption and providing value to our customers.

With a focus on community, sustainability, and affordability, we believe our business model is well-suited to the current economic and environmental climate.

We are enthusiastic about the positive impact our store will have on the community and the environment, and we are confident in the viability and future success of our thrift store.

We remain adaptable to market changes and customer feedback, and we are eager to see our thrift store flourish in the years to come.

You can also read our articles about: - the Business Model Canvas of a thrift store - the marketing strategy for a thrift store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a thrift store and our financial plan for a thrift store .

Initial expenses for our thrift store include securing a retail space lease, outfitting the store with shelving, racks, and display cases, purchasing a point-of-sale system, initial inventory acquisition through donations or consignment, and costs related to branding and launching targeted marketing campaigns to build a customer base.

Our revenue assumptions are based on a thorough analysis of the local market for second-hand goods, taking into account the increasing trend towards sustainable consumption and the appeal of unique, affordable items.

We anticipate a steady growth in sales, starting modestly and increasing as the reputation of our thrift store and its contribution to sustainability becomes more widely recognized.

The projected income statement outlines expected revenues from the sale of second-hand goods, cost of goods sold (if applicable), labor, utilities, and operating expenses (rent, marketing, salaries, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our thrift store.

The projected balance sheet reflects assets specific to our business, such as store fixtures, initial inventory, and cash on hand, as well as liabilities including any startup loans and ongoing operational expenses.

It provides a snapshot of the financial standing of our thrift store at the end of each fiscal period.

Our projected cash flow statement details the inflows from sales and outflows for expenses, helping us to anticipate our financial needs. This is crucial for maintaining adequate cash on hand to cover purchasing additional inventory, rent, and other expenses.

The projected financing plan outlines the sources of funds we intend to use to cover our initial costs, such as personal savings, small business loans, or investor capital.

The working capital requirement for our thrift store will be carefully managed to ensure we have the funds necessary to support day-to-day operations, including inventory procurement, store maintenance, and employee wages.

The break-even analysis will show the level of sales we need to achieve to cover all our costs and begin generating a profit, marking the point at which our thrift store becomes self-sustaining.

Key performance indicators we will monitor include the inventory turnover rate to measure the efficiency of our stock management, the gross margin on sales to assess profitability, and the customer retention rate to gauge the success of our customer service and marketing efforts.

These indicators will assist us in evaluating the financial health and overall success of our thrift store.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a thrift store .

• Choosing a selection results in a full page refresh.
• Opens in a new window.

Thrift Store Business Plan Template

Written by Dave Lavinsky

Thrift Store Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and thrift store owners create business plans to start and grow their thrift stores. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a thrift store business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Thrift Store Business Plan?

A business plan provides a snapshot of your thrift store as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Thrift Store

If you’re looking to start a thrift store, or grow your existing thrift store, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your thrift store in order to improve your chances of success. Your thrift store business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Thrift Store

With regards to funding, the main sources of funding for a thrift store are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for thrift stores.

Finish Your Business Plan Today!

How to Write a Business Plan for a Thrift Store

If you want to start a thrift store or expand your current one, you need a business plan. Below are links to each section of your thrift store business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of thrift store you are operating and the status. For example, are you a startup, do you have a thrift store that you would like to grow, or are you operating thrift stores in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the thrift store industry. Discuss the type of thrift store you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of thrift store you are operating.

For example, you might operate one of the following types of thrift stores:

• Vintage thrift store : this type of thrift store specializes in buying and selling retro-type clothes, shoes, etc. The items are usually aged over ten years.
• Consignment thrift store: this type of thrift store buys and sells more expensive types of clothing, shoes, jewelry, etc. They are usually luxury items that can be resold if in good condition.
• Goodwill thrift store: this type of thrift store will take donations of all monetary values. The store will also employ more disadvantaged workers and is a charitable benefit to the community.

In addition to explaining the type of thrift store you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, reaching X amount of customers served, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the thrift store industry. While this may seem unnecessary, it serves multiple purposes.

First, researching the thrift store industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your strategy, particularly if your research identifies market trends.The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your thrift store business plan:

• How big is the thrift store industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your thrift store? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your thrift store business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, families, and the low income population. 

As you can imagine, the customer segment(s) you choose will have a great impact on the type of thrift store you operate. Clearly, families would respond to different marketing promotions than college students, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Thrift Store Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other thrift stores. 

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes large retail stores, estate sales, neighborhood garage sales, etc.

With regards to direct competition, you want to describe the other thrift stores with which you compete. Most likely, your direct competitors will be thrift stores located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of thrift stores do they operate?
• What areas do they serve?
• What types of customers do they serve?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide thrift store items that your competitors don’t offer?
• Will you provide better employment opportunities?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a thrift store business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of thrift store that you documented in your Company Analysis. Then, detail the specific services you will be offering. For example, in addition to thrift store services, will you provide skating instruction and training, an area for food and drink, private parties, and any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your thrift store. Document your location and mention how the location will impact your success. For example, is your thrift store located near a school, a busy neighborhood, or an urban setting, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your thrift store marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Commercials
• Social media marketing
• Local radio advertising
• Word-of-mouth

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your thrift store, including cleaning and maintaining the thrift store, inventory of items, scheduling of staff, taking in new inventory, marketing, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to obtain your XXth customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your thrift store to a new location.  

Management Team

To demonstrate your thrift store’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing thrift stores. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a thrift store or have nonprofit and community relations experience.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you do a 20% markup on purchased intake of inventory or will you sell donations people drop off for a low cost ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your thrift store, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a thrift store:

• Cost of thrift store construction and facility build-out
• Cost of thrift store supplies
• Cost of marketing the thrift store
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your list of items your thrift store will offer, types of customers you will be targeting, and the areas your thrift store will serve.  

Putting together a business plan for your thrift store is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the thrift store industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful thrift store.  

Don’t you wish there was a faster, easier way to finish your Thrift Store business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   See how Growthink’s business planning advisors can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Thrift Store Business Plan Template

If you want to start a Thrift Store or expand your current Thrift Shop, you need a business plan.

The following business plan template gives thrift store owners the key elements to include in a winning thrift store business plan. It can be used to write a plan for a consignment thrift store, vintage thrift store or goodwill thrift store.

You can download our thrift store business plan template (including a full, customizable financial model) to your computer here.

Example Business Plan For Thrift Stores

Below is a thrift store business plan example with each of the key sections to help you write a thrift store business plan for your own company.

I. Executive Summary

Business overview.

[Company Name], located in [insert location here], is a local newly established thrift store. The store will retail gently used clothing, books, baby items, furniture, and appliances at a discounted price. [Company Name] will commit to donating 20% of its proceeds to local charities and non–profit organizations focused on homelessness and transitional living centers.

[Company name] was founded by [Founder’s Name], a local advocate for charities that deal with homelessness and transitional living centers. [Founder] received his Master of Public Administration six years ago and has spent the last five years working as a director for a local non-profit organization. [Founder’s Name] possesses an entrepreneurial spirit as well and has decided to launch a thrift store where people can donate their gently used items for it to be resold to the public.

Products Served

[Company Name] will sell a variety of gently used items. The products include gently used apparel (clothing, shoes, accessories), furniture, household appliances, books, and baby items (cribs, blankets, strollers, highchairs, etc.)

Pricing for all items will vary depending on the product and condition.

Customer Focus

[Company Name] will primarily serve the residents within a 1 to 25-mile radius of our location. The demographics of these residents are as follows:

• 1,653,829 residents
• Average income of $36,500
• 51.85% married
• 30% low income residents
• Median age: 38 years

Management Team

[Company name] will be owned and operated by [Founder’s Name], a local advocate for charities that deal with homelessness and transitional living centers. [Founder]’s passion is to assist the less fortunate in the community and have assisted numerous individuals and families be placed in affordable housing. Once they receive housing, many of the residents are not able to afford basic living necessities. [Founder]’s mission is to provide a friendly and affordable store where people from all walks of life can shop for clothing, furniture, and appliances.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

• The company will be donating a large percentage of its proceeds to local charities and non-profit organizations that assist homeless people and those in transitional living centers.
• The company will provide a wide selection of gently used items.
• The thrift store will be located in a highly trafficked intersection of town.
• The pricing model is structured to be affordable to people from all walks of life.

Financial Highlights

[Company Name] is seeking a total funding of $50,000 of debt capital to open the thrift store.

• Store design/build-out: $20,000
• Equipment, Point of Sale system, technology: $10,000
• Brand development and marketing: $5,000
• Working capital: $15,000 to fund payroll, taxes, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

II. Company Overview

Who is [company name].

[Company Name], located in [insert location here] is a local newly established thrift store. The thrift store will be located in a highly trafficked strip center at a busy intersection in [location]. The store will retail gently used clothing, books, baby items, furniture, and appliances at a discounted price. [Company Name] will commit to donating 20% of its proceeds to local charities and non–profit organizations focused on homelessness and transitional living centers. People will be inclined to donate their gently used items and be able to receive a breakdown of their donated items to claim as a charitable donation on their annual taxes.

[Company Name] was founded by [Founder’s Name], a local advocate for charities that deal with homelessness and transitional living centers. [Founder] received his Master of Public Administration six years ago and has spent the last five years working as a director for a local non-profit organization. [Founder] has witnessed the struggle many people experience when they are trying to regain their footing and have a home they can call their own. He is committed to providing a friendly and affordable thrift store where the public can find gently used basic living necessities at discounted prices.

[Founder] has saved for a down payment on a SBA loan from a local bank. He has also located a small retail space in a highly trafficked strip retail center in town. The 5,000 square foot space will be able to house different areas for items as well as a dressing room and two checkout counters. There will also be an area for donation in-take. [Founder] will employ a small team to sort through the donations, clean them, price them accordingly, and display the items in the store.

[Company Name]’s History

Once his market analysis was complete, [Founder’s Name] began surveying the local vacant retail space and decided on an available retail store in a highly trafficked retail strip center. [Founder’s Name] incorporated [Company Name] as a Limited Liability Corporation on [date of incorporation].

Once the lease is acquired for the thrift store, light construction and design can begin to build-out the store.

Since incorporation, the Company has achieved the following milestones:

• Located an available space in a highly trafficked retail strip center
• Developed the company’s name, logo, and website located at [website]
• Hired a general contractor for the build-out of the thrift store
• Determined software and necessary supplies and equipment
• Attained the sales tax permit necessary for [location]
• Began recruiting key employees that will assist with the operations of the thrift store

[Company Name]’s Products

Below are [Company Name]’s product offerings:

• Clothing, accessories, shoes, boots
• Baby items (strollers, high chairs, blankets, cribs, etc.)
• Household appliances

III. Industry Analysis

The Thrift Stores industry is estimated to grow at an annualized rate of 1.1% to $11.8 billion.

Historically, the Thrift Stores industry has relied on customers who shop for secondhand goods out of necessity. However, thrift stores are increasingly catering to a wide variety of customers who are seeking unique items, high quality goods at lower prices or to reduce their carbon footprint by recycling clothing and other goods. In addition, the cycling of trends has also contributed to demand for thrifting. Growing disposable income and consumer spending has also benefited the industry by increasing the number and size of purchases at industry establishments. Additionally, consumers are expected to increase their demand for more sustainable shopping options as environmental consciousness increases.

IV. Customer Analysis

Demographic profile of target market.

[Company Name] will serve the community residents of [company location] and its surrounding areas.

The community of [company location] is a very diverse community that includes over 1.6 million residents. While the community is very diverse, there is also a portion of low income residents who are experiencing or have experienced homelessness or are living in transitional housing. In addition, there are thousands of residents who are dealing with the rising costs of inflation and are experiencing difficulty making ends meet for themselves and their families.

Customer Segmentation

The Company will primarily target the following three customer segments:

• Low Income Residents: There are a number of residents who are unable to afford basic necessities at typical retail outlets.
• College Students: College students typically do not have a lot of spending money and need to purchase affordable items.
• Families: Families need to purchase children and household items regularly and expenses sometimes exceed monthly income.
• Seniors: Seniors live on a fixed income and do not have discretionary funds for everyday purchases and expenses.

V. Competitive Analysis

Direct & indirect competitors.

The following businesses are located within a 30-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

ThriftMore ThriftMore owns and operates a chain of thrift stores. The company offers housewares, collectibles and antique, furniture, household goods, clothing, and accessories. ThriftMore has expanded its network and now operates stores across the world. The store is known for providing stylish finds at affordable prices. They place an emphasis on impacting the environment, communities, and local nonprofit organizations.

ThriftMore’s operation consists of partnering with local nonprofit organizations and accepts donations of clothing and other household items on their behalf. ThriftMore pays the nonprofits for the items and helps to fund various programs in the communities as well. In addition, ThriftMore has created a recycling and reuse program where they recycle millions of pounds of reusable items annually.

Savings Galore Savings Galore is a nonprofit 501 organization that is not only a thrift store, but also provides employment opportunities and job training to individuals who have difficulty or barriers to gaining employment. Savings Galore receives millions in donations every year and donates much of their proceeds to various nonprofit organizations and charities around the country. The company places numerous donation bins around each town where they have a presence to make it easier for the public to drop off donations.

Savings Galore employs those with disadvantages such as homelessness, welfare dependency, no education, or have physical and/or mental disabilities. The company pays a living wage to those individuals employed at their store and provides opportunities for advancement.

Cheap Goods Cheap Goods is a thrift store that focuses on retailing affordable boutique brands for resale. They accept gently used clothing, shoes, and apparel in popular brands and are in decent, resellable condition. The company pays a certain amount to those who bring in their items for resale and prefer to only receive boutique, brand name items. The company then resells the items for a marked up price in order to make a profit. Cheap Goods is often located near colleges and universities as it markets itself towards the college student demographic.

The company has locations across the country and is available as a franchise for new owners who would like to open a Cheap Goods secondhand store of their own.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. Those advantages include:

• Charitable Focus : [Company Name] will donate a large portion of its profits to various nonprofit organizations and charities around [location].
• Location : [Company Name] will be located in a highly trafficked retail strip center.
• Wide Selection of Items : [Company Name] will accept a wide variety of donations and have it able for resale. The items include household items, clothing, shoes, apparel, books, and baby items.
• Pricing : [Company Name] will offer the donated items for resale at affordable prices to people from all walks of life.

VI. Marketing Plan

[Company Name] seeks to position itself as the prime thrift store to donate to and purchase gently used items. The company will also focus on providing exceptional customer service to all who enter its store.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

• Charitable Focus
• Large selection of gently used items
• Clean, friendly, and welcoming atmosphere
• Convenient location
• Affordable pricing

Promotions Strategy

[Company Name] expects its target market to be individuals and families within a 10-50-mile radius of its location. [The Company’s] promotion strategy to reach these businesses includes:

Billboards/Signage [Company Name] will invest in attractive signage and billboards to increase the brand awareness of the up-and-coming thrift store.

Local Publications We will also invest in advertising in selected larger publications such as newspapers and local publications.

Website/SEO [Company Name] will invest heavily in developing a professional website that displays all the products the company will have for resale. The website will also include an emphasis on the thrift store’s charitable mission. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Sponsorships [Company Name] will also invest in sponsoring certain nonprofit and community events so that their banners and collateral material are displayed all over the event where numerous customers and donors will potentially be.

Social Media [Company Name] will utilize the most popular social media platforms for ads since the majority of the clientele will be active on social media. The company will also have business accounts on each major platform to post regularly of new merchandise it receives or of upcoming events.

Collateral Material [Company Name] will develop numerous collateral material to have on hand to give out to potential clients. It will also ask local businesses for permission to hang or display their collateral material in highly trafficked areas.

Pricing Strategy

[Company Name]’s pricing will be moderate, so clients feel they receive great value when purchasing the thrift store’s products.

VII. Operations Plan

Functional roles.

[Company Name] will carry out its day-to-day operations as a thrift store. There will also be numerous administrative functions involved.

In order to execute on [Company Name]’s business model, the Company needs to perform several functions. [Company Name] anticipates using the services of X employees, divided into the following roles.

Service Functions

• Team of donation in-take and preparation
• Shift Managers

Administrative Functions

• General and administrative functions including tax payments, marketing, bookkeeping, etc.
• Hiring and training staff
• Filing and maintaining accurate records and files of all sales
• Brand management/social media
• Scheduling of staff

VIII. Management Team

Management team members.

[Company Name] is owned and operated by [Founder’s Name], a local advocate for charities that deal with homelessness and transitional living centers. [Founder]’s passion is to assist the less fortunate in the community and have assisted numerous individuals and families be placed in affordable housing. Once they receive housing, many of the residents are not able to afford basic living necessities. [Founder]’s mission is to provide a friendly and affordable store where people from all walks of life can shop for clothing, furniture, and appliances.

[Founder] will hire 2 – 3 shift managers to operate the store at various times so that it can be open 7 days a week.

Hiring Plan

[Founder] will serve as the Owner and Manager of [Company Name]. In order to launch, he needs to hire the following personnel:

• Shift Managers: 2-3 full-time employees to oversee the staff, scheduling of staff, and customer service.
• Staff: 5-6 full-time and part-time employees to assist with donation in-take, displaying items, selling, and customer service.
• Accountant: 1 employee who will manage the accounting, clerical, bookkeeping, tax payments, records manager, and any administrative task required.
• Brand manager: 1 part-time employee who will be responsible for developing and launching the brand; manage the website, and social media accounts.

IX. Financial Plan

Revenue and cost drivers.

[Company Name]’s revenues will come primarily from the sales it receives from the donated items it offers for resale.

The store lease, utilities, point-of-sale software, supplies, marketing, and labor expenses will be the key cost drivers of [Company Name]. The major cost drivers for the company’s operation will consist of:

• Point-of-sale software
• Business Insurance
• Lease on retail space and utilities

Capital Requirements and Use of Funds

[Company Name] is seeking a total funding of $50,000 of debt capital to open the thrift store. Funding will be dedicated to the design and opening of the store, developing the brand image, and three months of working capital expenses.

Key Assumptions

  5 Year Annual Income Statement

Other Sector Templates

Bike Shop Business Plan Template

Brewery Business Plan Template & Example

Frozen Yogurt Business Plan Template

Business Plan Resources

Business Plan Examples

Business Plan Articles

Terms of Service

Privacy Policy

Home » Retail » Flea Market

A Sample Flea Market Business Plan Template

A flea market (or swap meet) is a type of street market that provides space for vendors to sell previously-owned (second-hand) merchandise. This type of market is often seasonal. However, in recent years there has been a development of ‘formal’ and ‘casual’ markets which divides a fixed-style market (formal) with long-term leases and a seasonal-style market with short-term leases.

There tends to be an emphasis on sustainable consumption whereby items such as used goods, collectibles, antiques, and vintage clothing can be purchased. Statistics have it that the United States has over 1100 flea markets that provide opportunities for approximately 2.25 million vendors conducting over $30 billion in sales.

Steps on How to Write a Flea Market Business Plan

Executive summary.

Saint Petersburg ® Flea Market, Inc. is a registered flea market company that will be located in Saint Petersburg, Florida. We have been able to secure all the necessary permits for our facility. Saint Petersburg ® Flea Market, Inc. will ensure that all our flea market venues and facility meet international standards.

We want to build a business with a clientele base that cuts across people of different financial statuses. We have CRM software that will enable us to manage a one-on-one relationship with our customers no matter how large our customer base may grow.

Alex MacIntosh is the founder and CEO of Saint Petersburg ® Flea Market, Inc.

Company Profile

A. our products and services.

Saint Petersburg ® Flea Market, Inc. will establish an ideal flea market facility where dealers can display their wares and customers can visit to make purchases.

b. Nature of the Business

Our flea market will operate as a business where vendors can pick up membership and pay their subscription monthly, quarterly, or annually. We will also open our business to one-off vendors.

c. The Industry

Saint Petersburg ® Flea Market, Inc. will operate under the flea market industry.

d. Mission Statement

Our mission is to establish a world-class flea market company whose venue will not only attract local vendors and customers but vendors across neighboring cities.

e. Vision Statement

Our vision is to become the ‘go-to’ flea market facility in the whole of Saint Petersburg, Florida.

f. Our Tagline (Slogan)

Saint Petersburg ® Flea Market, Inc. – The Flea Market Venue with a Difference!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

Saint Petersburg ® Flea Market, Inc. will be formed as a Limited Liability Company (LLC). The reason why we are forming an LLC is to protect our assets by limiting the liability to the resources of the business itself. The LLC will protect our CEOs’ personal assets from claims against the business, including lawsuits.

h. Our Organizational Structure

• Chief Operating Officer (Owner)
• Facility Manager)
• Customer Service Officer (Receptionist)
• Security Officers

i. Ownership/Shareholder Structure and Board Members

• Alex MacIntosh (Owner and Chairman/Chief Executive Officer) 56 Percent Shares
• Emmanuel Caleb (Board Member) 14 Percent Shares
• Danan Benson (Board Member) 10 Percent Shares
• James Centerton (Board Member) 10 Percent Shares
• Maria Lawson (Board Member and Sectary) 10 Percent Shares.

SWOT Analysis

A. strength.

• Ideal Location for flea market company
• Highly Experienced and Qualified Employees and Management
• Access to vendors and patrons
• Highly Secured and Clean Facility

b. Weakness

• Budget limitations
• Inability to initially attract and retain big vendors players in our city
• Inability to properly manage the off-peak season
• A new business that will be competing with well-established flea market facilities

c. Opportunities

• Saint Petersburg is a thriving location for flea markets.
• Good support structure for the flea market.
• Online market, new services, new technology, and of course the opening of new markets

i. How Big is the Industry?

The flea market industry can be considered to be a big industry. Available data shows that the United States has over 1100 flea markets that provide opportunities for approximately 2.25 million vendors conducting over $30 billion in sales.

ii. Is the Industry Growing or Declining?

The flea market industry is growing and this could be as a result of the covid19 pandemic that made loads of people lose their jobs or businesses.

iii. What are the Future Trends in the Industry

The flea market industry is changing, and players in the industry are improvising. No doubt, technology, and social media will change the landscape of the flea market industry going forward.

iv. Are There Existing Niches in the Industry? If YES, List them

Yes, there are existing niches when it comes to the flea market business. Here are some of them;

• Street flea market
• Indoor flea market
• Integrated Platform
• Market Segment Platform
• Flea Market Segmentation By Application: (B2C, C2C, and Others).

v. Can You Sell a Franchise of your Business in the Future?

Saint Petersburg ® Flea Market, Inc. has plans to sell franchises in the nearest future and we will target larger cities all across the United States of America and Canada.

• Competition from other antique dealers
• Loans diminish profitability until they are paid off
• The first year will be financially tight while we gain customers and pay off loans
• Competition in the area could increase
• Management of employees requires time, money, and efforts
• Bad press as regards fraud perpetrated by some vendors
• Government regulations
• Continuously changing consumer demands

i. Who are the Major Competitors?

• Austin County Flea- Austin, Texas
• Lincoln Road Antique & Collectible Market- Miami Beach, Florida
• Brooklyn Flea – Brooklyn, New York
• Rose Bowl Flea Market- Pasadena, California
• Brimfield Flea Market- Brimfield, Massachusetts
• Renningers- Mount Dora, Florida
• Golden Nugget Antique Market- Lambertville, New Jersey
• Melrose Trading Post- Los Angeles, California
• Alameda Flea Market- Alameda, California
• Long Beach Outdoor Antique & Collectible Market- Long Beach, California
• Texas Antique Weekend- From Fayetteville to Carmine, Texas
• Treasure Mart – Ann Arbor, Michigan
• Mowers Saturday Flea Market- Woodstock, New York
• First Monday Trade Days- Canton, Texas
• Georgetown Flea Market- Georgetown, DC
• Shipshewana Auction & Flea Market- Shipshewana, Indiana
• Springfield Antique Show & Flea Market- Springfield, Ohio
• 127 Corridor Sale- Cumberland Plateau, Tennessee
• Hell’s Kitchen Flea Market- New York City, New York
• Chelsea Antique Garage/West 25th Street Market- New York City, New York.

ii. Is There a Franchise for Flea Market Business? 

No, there are no franchise opportunities for flea market business.

iii. Are There Policies, Regulations, or Zoning Laws Affecting Flea Market Company Business?

Yes, there are county and state regulations for a flea market business. Here are some of them;

(A)    Flea markets shall be permitted only in nonresidential zoning districts or as conditional uses in the Business-2 Districts as defined by the city zoning ordinance.

(B)   Off-street parking shall be provided at a ratio of two spaces per vendor table, exhibit, display, or area. Absolutely no off-site parking or parking or parking in the right-of-way shall be permitted.

(C)   Flea market operators must have the appropriate business licenses and permits from the city zoning and business license offices.

(D)   Flea market operators shall provide sanitary conditions at all times. Permanent restrooms or port-a-johns shall be provided. Running water must be available. Food vendors shall apply for and receive all appropriate health permits from the County Health Department.

(E)   Flea market operators shall maintain at all times a current list of vendors that are renting space within the flea market area. This list shall include the name, address, and phone number of the vendor, location (or booth) at which the vendor is located, and type of products or material being sold by the vendor. This information shall be kept by the flea market operator for one year. The flea market operator shall make the list available for inspection by the Zoning Officer as well as law enforcement agencies at any time during hours of operation.

(F)   Flea markets are allowed to operate only three days a week.

(G)   Flea markets shall operate only during daylight hours.

(H)   Flea markets shall comply at all times with all state and local laws and regulations, including, but not limited to, Health Department regulations.

Marketing Plan

A. who is your target audience.

i. Age Range

The age range of people who we look forward to doing business with is between 18 years and above.

ii. Level of Educational

We don’t have any basic educational qualifications for those we are targeting; everyone will be welcome to do business with us.

iii. Income Level

Anyone who can afford our membership (vendor) fee or who can make the purchase will be welcome to our flea market.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people we will welcome to our flea market company.

v. Language

There is no restriction when it comes to the language spoken by the people we will welcome them to our flea market company.

vi. Geographical Location

Anybody from any geographical location will be welcomed in our flea market company.

vii. Lifestyle

Saint Petersburg ® Flea Market, Inc. will not restrict any vendor or patron from our flea market company based on their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

• Host Themed Events That Catch Attention.
• Tap Into Text Marketing.
• Use FOMO to Run Photo Promotions.
• Share Your Events in Local Groups and Pages.
• Turn Your Social Media Channels into a Resource
• Develop Your Business Directory Profiles
• Build Relationships with Other Businesses in Your Area

i. Traditional Marketing Strategies

• Marketing through Direct Mail.
• Print Media Marketing – Newspapers & Magazines.
• Broadcast Marketing -Television & Radio Channels.
• OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street Furniture, and Cabs.
• Including direct sales, direct mail (postcards, brochures, letters, fliers), print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.

ii. Digital Marketing Strategies

• Social Media Marketing Platforms.
• Influencer Marketing.
• Email Marketing.
• Content Marketing.
• Search Engine Optimization (SEO) Marketing.
• Pay-per-click (PPC).
• Affiliate Marketing
• Mobile Marketing.

iii. Social Media Marketing Plan

• Start using chatbots.
• Create a personalized experience for our customers.
• Create an efficient content marketing strategy.
• Create a community for our audience.
• Gear up our profiles with a diverse content strategy.
• Use brand advocates.
• Create profiles on the relevant social media channels.
• Run cross-channel campaigns.

c. Pricing Strategy

When working out our pricing strategy, Saint Petersburg ® Flea Market, Inc. will make sure it covers premium, skimming, economy or value, and penetration. In all our pricing strategy will reflect;

• Cost-Based Pricing
• Value-Based Pricing
• Competition-Based Pricing.

Sales and Distribution Plan

A. sales channels.

Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, managed service providers, marketplaces, or value-added resellers—to market our flea market company.

Saint Petersburg ® Flea Market, Inc. will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced.

b. Inventory Strategy

Saint Petersburg ® Flea Market, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, and processing items in our flea market facility and warehouse. Saint Petersburg ® Flea Market, Inc. will make sure we work with “Just-in-time (JIT) inventory” – (JIT involves holding as little stock as possible, negating the costs and risks involved with keeping a large amount of stock on hand.)

c. Payment Options for Customers

Here are the payment options that Saint Petersburg ® Flea Market, Inc.  will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

d. Return Policy, Incentives, and Guarantees

Saint Petersburg ® Flea Market, Inc. will operate a no refund policy hence we will not provide compensation for purchased products or services (membership fees inclusive).

e. Customer Support Strategy

Our customer support strategy will involve seeking customer feedback. This will help us provide excellent customer service to all our vendors and patrons, it will help us understand their needs, experiences, and pain points. Regularly, we will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our customer support strategy.

Operational Plan

Overall, we plan to expand our revenue by 50 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include organizing regular outdoor flea market activities at the local and state level and attracting vendors and customers. These strategies will enable the firm to boost our service offerings and support revenue growth.

a. What Happens During a Typical Day at a Flea Market Company Business?

• The business is open for the day’s work
• Vendors pay to secure their space and tables
• Access fees (gate fees) are collected from customers
• The sales kick-off
• Administrative duties are carried out
• The facility is cleaned and arranged
• The business is closed for the day.

b. Production Process (If Any)

There is no production process when it comes to flea market business.

c. Service Procedure (If Any)

When a flea market is opened and everything is in place, they will either choose to welcome vendors based on membership or via payment of gate fee. They are assigned to their booths or table and customers are ushered in to make purchases.

d. The Supply Chain

Saint Petersburg ® Flea Market, Inc. will rely on trusted agents to help us attract vendors to our city and we have been able to establish business relationships with dealers in different merchandize and antiques et al.

e. Sources of Income

A flea market’s revenue comes from taking a percentage of vendor sales. For this reason, we will choose vendors with the best-selling flea market items. Some of the best-selling flea market items include jewelry, furniture, crafts, and vintage goods.

Please note that we can also earn money by charging a gate fee, parking fee, having an onsite ATM, renting equipment, and providing shoppers with delivery services for the large items they buy. Saint Petersburg ® Flea Market, Inc. will charge vendors between $3 and 10 dollars per square foot per day. That means a single 10 X 10 space will cost between $300 – 1000 dollars daily.

Financial Plan

A. amount needed to start your flea market company business.

Saint Petersburg ® Flea Market, Inc. would need an estimate of $250,000 to successfully set up our flea market in the United States of America. Please note that this amount includes the salaries of all staff for the first month of operation.

b. What are the Costs Involved?

• Business Registration Fees – $750.
• Legal expenses for obtaining licenses and permits – $7,300.
• Marketing, Branding and Promotions – $5,000.
• Business Consultant Fee – $2,500.
• Insurance – $5,400.
• Rent/Lease – $100,000.
• Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
• Operational Cost (salaries of employees, payments of bills et al) – $40,000
• Start-up inventory – $25,000
• Counter area equipment (countertop, sink, ice machine, etc.) – $9,500
• Store Equipment (cash register, security, ventilation, signage) – $4,750
• Furnishing and Equipping – $30,000
• Website: $600
• Opening party: $3,000
• Miscellaneous: $2,000

c. Do You Need to Build a Facility? If YES, How Much Will it Cost?

Saint Petersburg ® Flea Market, Inc. will not build a new facility for our flea market company.

d. What are the Ongoing Expenses for Running a Flea Market Business?

• Vendor permits
• Cost of toiletries
• Utility bills (gas, internet, phone bills, signage and sewage et al)
• Maintenance of facility
• Salaries of employees

e. What is the Average Salary of your Staff?

• Chief Operating Officer (Owner) – $45,000 Per Year
• Facility Manager – $30,000 Per Year
• Support Staff (Attendants)- $25,000 Per Year
• Customer Service Officer (Receptionist) – $24,100 Per Year

f. How Do You Get Funding to Start a Flea Market Company Business?

• Raising money from personal savings and sale of personal stocks and properties
• Raising money from investors and business partners
• Sell shares to interested investors
• Applying for a loan from your bank/banks
• Source for soft loans from your family members and friends.

Financial Projection

A. how much should you charge for your product/service.

It will cost $15 to sell on Fridays in our flea market and $30 per day on a Saturday or Sunday. If a seller is selling new merchandise, then we recommend a $40-space on a Saturday or Sunday which are located in the first two aisle ways inside the entrance.

b. Sales Forecast?

• First Fiscal Year (FY1): $250,000
• Second Fiscal Year (FY2): $350,000
• Third Fiscal Year (FY3): $550,000

c. Estimated Profit You Will Make a Year?

Saint Petersburg ® Flea Market, Inc. is projecting to make;

• First Fiscal Year (FY1): $125,000 (50% of revenue generated)
• Second Fiscal Year (FY2): $187,000 (45% of revenue generated)
• Third Fiscal Year (FY3): $350,000 (45% of revenue generated)

d. Profit Margin of a Flea Market Company Business 

The profit margin of a flea market business is not fixed. It could range from 15 percent to 25 percent depending on some unique factors.

Growth Plan

A. how do you intend to grow and expand by opening more retail outlets/offices or selling a franchise.

Saint Petersburg ® Flea Market, Inc. will grow our flea market company by first opening other outlets in key cities in the United States of America, and Canada within the first five years of establishing the business and then will start selling franchises from the sixth year.

b. Where do you intend to expand to and why?

Saint Petersburg ® Flea Market, Inc. plans to expand to Addison, Michigan, Canton, Texas, Brimfield, Massachusetts, Atlanta, Georgia, Pasadena, California, Springfield, Ohio, Henderson, Colorado, Round Top, Texas, and Rogers, Ohio. The reason we intend to expand to these locations is the fact that these locations have a robust and thriving flea market. Internationally, we plan to expand to Canada.

Saint Petersburg ® Flea Market, Inc. intends to build a family business hence our exit plan will be family succession. For that reason, the founder Alex MacIntosh is already grooming his son Anderson MacIntosh to take over from him. Anderson MacIntosh is at the moment being groomed to go through the company’s employment process without any bias.

More on Flea Market