Tuesday, June 10, 2014

How to Consign and Why You Should

Are you a family with one income?

Are you looking for ways to make a little extra cash to cover the cost of purchasing clothes and shoes for your children?

Are you tired of paying full price for clothes that your children will out grow in a matter of weeks?

There are many ways for families to save money. One of my favorite ways to do this is by consigning.

Before I continue, I have nothing against donating, passing along to others, etc. Anyone who knows me knows that I do that frequently. However, when a family is on one income (as ours is), we need to find ways to stretch that paycheck, save money, and still provide for our family.

What is consignment?

Consigning is taking your items that you no longer use, your children have outgrown, and are still in good condition to a consignment shop to sell. The shop owner sells your items for you and you split the profits.
  • Some pay you up front for your items. 
  • Some have you wait until your items sell for a payout. 
  • Some allow you to exchange your items for store credit, which typically means you can get more back. 
  • Some shops buy large items (high chairs, strollers, cribs, etc.) off of you in order to rent them out.
What are the benefits of consigning?
  • You are not having to keep unnecessary items in your home. Personally, if my children have outgrown something, depending on its wear, tear, and origin (items we have blessed with by way of hand-me-downs are handed down to others, not sold), It goes to the consignment shop. I am not one to hold onto things for sentimental reasons.
  • You are not using your own home as a "store" or shop for a garage sale.
  • You don't have to spend the time planning a garage sale. 
  • You do not have to haggle with customers. 
  • You can actually get more for your items by selling at a consignment shop than id you sold your items at a garage sale.
What is the quality of the items purchased at a consignment shop?

If your consignment shop owner takes her job seriously, she will have a standard of what she will and will not accept.

Over the six years I have been consigning, I have gotten to know what I can and cannot bring in. The owner of the shop we use is very particular about what she accepts. It cannot be stained, have any type of visible wear, or be broken.
  • Toys that appear dirty are not accepted. 
  • Stuffed animals are not accepted. (allergy reasons)
  • Toys with lots of tiny pieces are not accepted.
  • Toys that make excessive noise are not accepted.

Do consignment shops carry seasonal items?

Yes, they do! Right before the change of the season is a great time to bring things in. For us, September is when we bring in our winter things. In February we bring in our spring and summer items. 

Contract

When you decide to consign, your shop owner will have you sign a contract. This contract will tell you what percentage you will receive from the sale of your items, how often you will receive a payout, and what type of payout you will receive based on how much you made.

What are the benefits of purchasing through a consignment shop?


We purchase some of our items at the consignment shop. Children grow so quickly, that it is hard to invest a lot into something that they will grow out of in a season or less. Because our shop owner is very particular about what she accepts, my children have gotten brand new, never before worn or like new clothes and shoes for a fraction of the price. Here a few example of what we have purchased.

  • Stride Rite sneakers Like new- no signs of wear- for Ian- $8 (normally $54 at the Stride Rite store)
  • Ralph Lauren dress- like new- for Addie- $6.99 (retail is anywhere from $39.50-$45)
  • Brand new, tag still on it capris for Addie- $6.99
  • Osh Kosh B'Gosh overalls for Ian $4.99- (normally $16)
  • Toy kitchen- $15.97 (can run anywhere from $50 dollars or more)
  • Brand new, tag still on it Jordache capris for Addie- $6.99 ($11 at Walmart)

Occasionally, there is a special night in Awana that the children are encouraged to wear a particular color. If it is a color that I know Addie is not going to gravitate to after the special night is over, I will go to the consignment shop and pick up a top for her there.

Here in Florida, winter gear is not an investment that is practical to make. We wear sweaters and jackets, but coats are really an occasional item for our winters. The consignment shop is perfect for picking up a great quality coat for a fraction of the normal price.

I realize that thrift stores have even lower prices than consignment shops do. Yet, I haven't paid out of pocket for anything I have purchased at the shop in 3 years. Keeping a running credit based on the sales I have made, allows me to walk in pick up what I need and leave without ever opening up my wallet.

Look into consigning as a way to financially bless your family. You will be amazed at how much you can save!

I'm linking up at Family Fun Friday, Made to Mother , Thrifty T's Treasures, Prudent Wisdom, Frugal Homeschool Family, Mrs. AOK, Creative K Kids,

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