How to Open a Used Appliances Store. Used appliances are a hot commodity in many areas, especially with the rising costs of most consumer products. Often, when someone wants to purchase a used appliance, they aren't sure where to look, short of checking the classifieds or garage sales. You may be able to provide a great service to the community and make some good money at the same time. Read on to learn how to open a used appliances store.
Items you will need
- Business permits, licenses and insurance
- Business office supplies
Find a building for your used appliances store. Your building should be large enough to house a nice selection of merchandise. In addition, you need a large door through which you can easily bring large appliances.
Take care of all the legal requirements of owning a business, including naming your business, acquiring a business license and insurance. Check with your city and state to find out what they require for you to open a storefront business.
Purchase supplies and inventory for your store. You will need a cash register, price tags, office supplies, a computer and other business related office supplies. To begin, you can purchase appliances from garage sales in your area for a while until you have enough inventory to open your doors. Try to have at least a few dishwashers, washing machines, clothes dryers, televisions, DVD players, stereos and refrigerators. You may even choose to carry window unit air conditioners. Make sure that all appliances work before you put them in your store.
Price your merchandise and you're set for business. Expect to charge about half of what a similar product would cost new, or less than half, depending on its condition.
Accept appliances on consignment to reduce the amount of time you have to spend looking for new inventory for your store. Usually, stores that accept consignment give the previous owner 40 to 50 percent of the appliances selling price after it sells.