For KH friends who want to open a business in fashion, maybe you can try the thrifting business opportunity. Because lately, the thrifting business is in high demand, especially among young people because the selling price is cheap. In addition to the cheaper price, the quality obtained from buying and selling used fashion products is usually still very good and certainly more environmentally friendly, you know! Well, for KH pals who are interested in getting into the thrifting business, there are some important things you should know first. Do not let the business you run actually lose money and eventually have to go out of business. So, what are the thrifting business opportunities? How do you get started? Check out the full explanation in this article.
What is Thrifting Business?
As the name implies, the English word thrift means austerity, with the aim of avoiding waste. The activity of thrifting is called thrifting, while the market itself is called thrift shop or thrift store. Since 2013, the business of trading second-hand goods began to enter Indonesia, ranging from rare items to goods with well-known brands. In the thrifting or thrift shop business, regardless of the item and brand name, as long as the used item is in good condition and suitable for use, it can be traded. Unfortunately, there are still many people who think thrifting is the same as preloved. Although both sell used items that are still good to use, there are a number of differences. This can be seen from where the items being sold come from. Where, thrifting is a large clothing business imported from suppliers or importers, while preloved is a second-hand business that comes from its own ownership. The items sold at thrift shops are also not specific to clothing, but there are also bags, shoes, watches, books, and jewelry. If you are good at choosing, you can get items that are still of good quality and worth selling to the thrift market. This business is also considered environmentally friendly. With the tendency of people to buy used goods, waste is utilized.
Looking at Thrifting Business Opportunities
Recently, the thrifting business has been on the rise and has become the target of a number of people, especially young people. The reason is, they can get clothes from well-known brands at low prices even though the clothes sold are used and found to have a number of minor damages. Regarding the high public interest in the thrifting business, Tourism and Creative Economy Minister Sandiaga Uno said that buying and selling used fashion products can be a creative economy business opportunity that prioritizes the principle of environmental sustainability. He added that this is an open opportunity for MSME players to build flea market centers specifically for used goods in the country. The thrifting business is also one of the efforts in helping environmental problems and reducing the carbon footprint due to fast fashion or the textile industry that produces various fashion models quickly. Along with the times, there are now many thrifting business owners who run their business online. They utilize the internet to sell on e-commerce and social media such as Facebook and Instagram. This method is considered quite effective to attract consumers, because buyers do not need to bother to visit the store directly, just look at the catalog on the internet and consumers can buy it easily. Although buying and selling used products, the benefits of the thrifting business are not kidding, you know! With minimal capital, business people can generate large thrifting business profits.
How to Start a Thrifting Business?
Well, after knowing what a thrifting business is and what the opportunities are, is your KH Friend interested in starting a business buying and selling used products? Reporting from Detik Finance, here is how to start a thrifting business:
Decide which products you want to sell
Currently, the thrifting business targets men and women, but there are also some thrift shops that focus on selling women’s clothing only. Therefore, you must determine who your target customers are. After that, decide what kind of clothes you want to sell, whether you want to sell shirts, pants, jackets, or antique accessories.
Set the Right Price
Since thrifting businesses sell second-hand clothes, the prices tend to be cheaper than their new counterparts. However, pricing also depends on the quality and brand. For example, there is a shirt from a famous brand that still has good quality, so you can sell it at a fairly high price.
Decide on a Place to Sell
KH pals also need to determine the place to run a thrifting business. Here, you can choose a strategic place so that people can find out about your thrift shop. If you don’t have the capital to rent a shop, you can sell online through social media and trusted e-commerce.
Vigorous Promotion
Unlike marketing products with well-known brands that easily bring in consumers, the promotions carried out in running a thrifting business must be even more active. Not all people want to buy used clothes even at low prices, especially since used clothes are always associated with dirty or damaged items, so they are worried about wasting money. However, there are other ways to attract potential customers. KH pals can do promotions on social media such as Instagram, Facebook, and Tiktok and then make attractive promos such as discounts and flash sales for certain clothes. Well, that’s an explanation of the thrifting business opportunity and how to start it. Hopefully it can help you who want to open a thrifting business from the initial stage, huh!
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For KH pals who want to start a thrifting business, but still do not know what and how the process or steps should be done, it is better to do a business consultation first with Kontrak Hukum. For only Rp490 thousand, KH pals can consult with professional experts in Kontrak Hukum regarding your business needs. No need to worry, because all your data and information are guaranteed to be safe and protected. Let’s make your thrifting business easier by consulting at Kontrak Hukum! For more information, please visit this page. If you have further questions about your business needs or other legal services, you can also contact us via whatsapp or telephone at 0821-1212-5767, or send a Direct Message (DM) to Kontrak Hukum’s Instagram social media account @kontrakhukum.
