New Toronto shoe consignment store idea

[justinjohn95]

What do you guys think of a sneaker consignment store in Toronto (ex FlightClub NY)? Are there any? I'm doin a business plan for a school project for a store like this in downtown Toronto. If y'all could complete this survey(https://www.surveymonkey.com/s/9CZH8CJ) it'd be much appreciated, or just comment your thoughts below. Thanks

 

[gmas]

There are a few spots in the city that do consignment as a part of their business. The problem is we already pay higher prices than the US as is, and at a consignment shop those prices would be higher still. There have been other shops that have done consignment in the past and none really seemed to thrive or stick around.

 

[d0uble0]

You will encounter the same problem as those who have tried in the past decade.

Even though reselling is prevalent on RFD, Kijji or any other sites, Canadian collectors and consumers who are willing to drop $$$ for a certain shoe is minuscule as compared to the numbers of American collectors/consumers. You have a small target consumer group.

Then you factor in Canadian retail and taxes, your initial cost for a pair is too high to be able to add on to it that will benefit the consignment store and the shoe owner.

If you even plan to do a B&M and your only business is consignment, then you may end up not making enough money since you have to consider rent, insurance, payroll etc.

Plus, you factor in the sellers who will undercut your prices, your potential buyers will end up buying from RFD, Kijiji, IG and FB. Those sellers will surely have better prices than you.

And then don't forget your US counterparts, they may still end having better prices after forex and shipping to a Buffalo PO box or US friend.

Bottom line, Canadian sneaker culture is not mature or evolved enough to have a successful consignment store.

 

[ezgoingj]

Also nowadays some company such as Nike knows what goes on these resellers.  This is why they sell their overstock items for retail later on when the hype is all gone, technically not a lot of money will be made....Flight Club has ridiculous prices on their J's one of these days they'll loose profit since Nike is relaunching ol'g colourway J's and Nikes....IMO anyway....   

 

[flyprime]

adrift and live stock does this already

 

[nueve]

I rather buy directly from reseller rather reseller+consignment price. IMO

 

[jaredg]

What are some of the stores you guys are reffering to? I got tons of pairs of shoes I do not wear any more and 300 posts seems like an insurmountable hurdle to get to selling them.

Jared

 

[kicksinthe6ix]

Jarrod I suggest goin to a sneaker event or something and buying a table and moving pairs that way! it works pretty well !