Editor’s note: This article was first published in May 2013, during Spain’s economic crisis; the boom in second-hand shops, the best-selling categories and prices it cites, such as bundles of clothes for under 10 euros, reflect that time.
The business of selling second-hand goods is booming. In fact, it is one of the best-performing markets right now, and the reason is obvious. There are many franchises like Cash Converters, which buy and sell any kind of product, and then there are more specialised ones, such as Baby Eco, which are second-hand shops specialising in children’s items.
Of course, any entrepreneur can enter this business by setting up on their own. The advantages of this niche are very clear for both sides.
On the one hand, a person gets money for items they no longer need or can do without. On the other, the buyer gets items in good condition at much lower prices. What kind of second-hand business could work best?
Children’s items
Children’s clothes, cribs, toys, strollers, playpens… these products tend to be expensive and are used for a very short time, so they usually stay in good condition. Right now they are the best-selling products in second-hand shops.
Clothing in general
Second-hand clothing shops are also doing well during the crisis, and you can find whole bundles of clothes for less than €10. In other cases, some shops have given the business a vintage twist.
Wedding dresses and suits
Although they have great sentimental value for many couples, they are also sold, and in other cases bridal-wear rental shops have sprung up.
Furniture and appliances
Cash Converters, for example, doesn’t buy large appliances or bulky furniture. This is a market where there would be demand for second-hand goods, and not just old furniture and appliances. For this business, a shop in the town centre would probably no longer do; we would need an industrial unit on the outskirts because of the size of the products.
Technology
Smartphones, desktop computers, laptops… at the pace technology moves, many of these products become outdated within 6 months for the geekiest users.
In any business of this kind, even with a physical shop, we can sell some products by listing them on eBay or on our own website. Opening a business like this isn’t difficult or expensive, since many people would even be willing to leave their items with you on consignment and get paid only when you sell them.
Beyond that, it’s a matter of thinking about what other products or what other specialisation we could add to this kind of business.
More business ideas:
- Innovative and profitable businesses around the world: 5 ideas
- 6 business ideas with no investment for young entrepreneurs
- Profitable businesses in times of crisis
Featured image: Jonathan Rolande, CC BY 2.0, via Flickr.
