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| talking to a guy who is opening a new restaurant in a building with extra space. Would like to put my purses and another quality crafter or 2 in there. But neither one of us knows how it works. They keep a % of the sale, but how much? What about tax? Do I have to get a vendors license, or do they sell under their license? HELP |
Follow-Up Postings:
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- Posted by toomuchglass (My Page) on Wed, Oct 31, 07 at 16:26
| Consignment by me is about 20% to 25% and they take care of everything for you . ( Which is NICE !) That covers bags,charges with a charge card , all expenses associted with selling . They collect the tax ,too . I'm sure your sales are added onto their income and they pay the tax. I might be wrong - but I'm pretty sure this is how it works. I don't think you need a sellers permit .... no one in any consignment store has one. I'm excited for you !!!!!!! I hope you do great !!!
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- Posted by luvstocraft (My Page) on Wed, Oct 31, 07 at 18:11
| At the Antiques & Collectibles store where I worked here in Ca., they would sell your items, take care of the taxes, checks, credit cards--all of that. It was a 60/40 split--you 40%. They said that was because they paid for the building, utilities, personnel, insurance, and provided you with the display space and the customer base. Hope that is helpful. Luvs |
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- Posted by christopherh (My Page) on Thu, Nov 1, 07 at 7:38
| The commission split is always negotiable. 60% is far too high for me. When we started out doing consignment the norm was 30% commission on sales. 60% is a better deal than if that shop was to buy wholesale! Because then they would only double the wholesale price and end up with 50%. And they have NO money invested in store stock. So that's a REAL sweet deal for them! And as a supplier I would want X dollars for my product. So the shop would have to raise the prices to THEIR market, but I would get MY price for my work. Here's how you establish the price in a consignment shop. When dealing with shops you work from the bottom UP, not the top DOWN. You get YOUR price for your work. Then the retail price is established at the shop's level. DON'T GIVE AWAY YOUR WORK JUST TO MAKE A SALE!!! |
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