You’ll reach a larger market of customers and save on all the costs of a traditional store.
In fact, profit margins for online stores like Amazon FBA average 35% and higher which means $35,000 on every $100,000 in sales.
Without a history of business, it’s going to be difficult getting a business loan for your thrift store but you can use a personal loan to get started and buy your initial inventory.
I recommend personalloans.com, an online lender I’ve used for consolidation loans and a home improvement project.
Even something like selling on e Bay could be considered something like a thrift store since most of the items are used.
Once you know how a thrift store can mean different things, you can start to see how you can start your own store with some unique advantages over traditional thrift stores.
Thrift stores aren’t usually a fast-track to riches but they can make solid cash.
I’ll go through the numbers on traditional thrift stores first before showing you how to make even more money with a unique business model and online thrift stores.
Non-profit carries advantage of no federal taxes on profit but will still have to pay income taxes on your wages and will have to show your non-profit intention.
But thrift stores can be for-profit as well and online thrift stores can be very profitable.