Category: Business

Business · Community · Thrifting

What Does Consignment Mean?

diversityconsignLeave a comment

Consignment shops have been around for a while now but it still remains a sort of underground concept. I frequently come across people, talking a little about what I do for work, and come to find out they have never heard of a consignment shop!

I think that due to the rise in popularity of second-hand shopping, the term “consignment” is being thrown around a little more than it had in the past. People are starting to talk about the concept but may not fully understand it. The differentiation of a consignment store with a charity thrift store can be a little gray and I’m here to shed a little light on the subject.

Within this article, I will be providing you with the difference between a consignment shop and a charity thrift store. I will also go over the pros and cons of working with or shopping at a consignment shop and the different varieties of consignment stores.

Consignment Shop vs. Charity Thrift Store

Here’s where the confusion tends to lie. Many people like to blend the term consignment with the term thrift and in a lot of ways; a consignment shop is a type of thrift store.

My definition of a thrift store is any place where you can buy second hand goods at a discounted price. Within this threshold, consignment shops do fit under the blanket of thrift stores.

The major difference is comparing consignment shops to charity based thrift stores. Consignment shops are typically for-profit stores that return a percentage of sales to the consignor (person who drops-off inventory). Charity thrift stores are non-profit and proceeds directly benefit a dedicated cause. I say typically because there are definitely consignment shops that are partial charity stores or may donate a certain percentage of sales to any given charity.

At Diversity Consignment we frequently have incentives that directly benefit certain charities. For instance, in the month of June (pride month) we dedicated the proceeds of our “Buy The Pound” area to go towards Boston Glass, a local leader in social justice and community based services for progressing diversity and inclusion.

What to Expect at a Consignment Shop

Consignment shops are beautiful places that vary in shapes, colors, and offerings. They can range from higher-end priced items to bargain basement prices. I am going to keep this section more generalized and talk about what you can typically expect to see at a consignment shop.

Unlike a charity thrift store that takes in donations, consignment shops will have a more curated selection of items. They take in what are called “consignments.” Consignments are items that have been hand selected by the team working at the store. They generally will be more specific to the audience they are trying to reach; the customer base.

You can expect to find a larger selection of quality items that are free of holes, stains, snags, or even odors. This is a general rule of thumb but again, depending on the consignment shop, this can vary. I am also primarily referring to clothing consignment shops. You can also expect to see a lot of inventory that is brand new! Some consignment shops even take the boutique approach and source their own brand new inventory.

Different Types of Consignment Shops

The best thing about consignment shops are that there are so many different types! It is also pretty easy to find one within your local community or general area.

Here’s a list of some of the types of consignment shops I know about, personally, within the Boston area.

-Boutique Style- Covet Boston

-Sporting Goods- Family Sports Consignments

-Furniture Consignment- Second 2 None Furniture

-High End Designer- Castanet Consignment

-Unique Styles / Vintage- Raspberry Beret

-Men’s Clothing- ID Drakes Consignment

-Music Consignment, Vintage, Local Art, Men’s, Women’s, Non-Binary Clothing, Records- Diversity Consignment 😉

As you can see, there are a whole lot of different types of consignment shops, all with the same premise in mind; slightly used or new goods where the consignor gets a percentage of what the items they bring in sell for. There are also consignment shops for things like tools and power equipment. A quick google search will provide you with all the information you need!

The Pro’s and Con’s of Consignment Shops

The pro’s and con’s can vary greatly depending on the specific store you’re interested in. At times, prices can fluctuate greatly for one reason or another. Location and quality of the inventory can be a couple of the factors.

If you’re looking for a specific item or one with many size variations; consignment shops may not be the ideal place for you. They usually only have one of each item on the racks or shelves and there’s not much hope that they will get another one anytime soon.

Some of the pro’s can also be some of the con’s. The fact that everything is 1 of 1 and unique can also be a great thing! Don’t worry about someone else showing up to the wedding wearing the same dress you purchased from a consignment shop! Also, I can guarantee that you saved the most money with your frugal purchases.

Consignment shops can also be a great way of getting a little money back into your wallet! When you bring things in and they sell, you get a percentage of what they sell for! Percentages can vary from consignment shop to consignment shop as well as consignment periods (the allotted time for your items to sell). Don’t expect to make a living buying and selling at consignment shops, it’s a great and sustainable means for recycling clothing and household items, but not a huge money-making venture.

That being said, another great aspect of consignment shops is the direct link to sustainability. I go over this frequently in other articles. Consignment shops aren’t going to save the planet by any stretch, but they are certainly helping things move in the right direction. Keep clothing and household items out of landfills and take them to your local consignment shop!

Conclusion

Consignment shops are great. You can find a wide variety of different types and styles that have all kinds of unique treasures to find.

Expect to pay a bit more, but have a more curated selection than the local charity thrift shops. Most of these businesses are family operated so do your best to support them. They help out the community in many ways; one of which being providing the people a place to sell their used things.

Staying sustainable is something we all need to do a better job at.

-Much Love, Ian Drake – Diversity Consignment

Business · Community

The Passion Economy of Today

diversityconsignLeave a comment

This has been one of my favorite topics to talk about recently. Not too long ago I read a book called “The Passion Economy: The New Rules for Thriving in the Twenty-First Century” written by Adam Davidson, and I have to admit, I agree on many of the topics.

For those of you that know me personally, you’ve probably heard me mention the passion economy numerous times and are probably sick of it. For those of you who don’t, you’re in store for a treat of enlightenment as I take you on a journey of what I believe to be a simple generalization of the way people like to spend their money in 2022; “The Passion Economy of Today.”

Adam Davidson does an excellent job of going over an in-depth detailed outline of his interpretation within his book. I will do my best to explain how I view the way people like to spend their money in 2022 within this article.

What is the Passion Economy?

In 2022 we have just gone through a lot: pandemic, economic craziness, housing booming and then interest rates rising, and so on, and so forth. People now have more reason than ever to spend their money wisely, and more importantly, on the things they want to spend it on!

In today’s economy, generally speaking, we want to spend money on things that give us joy. We want to go out and see the world with all the exciting things it has to offer! Businesses can find it tough, especially nowadays, to compete in holding your attention against the vastness of the internet. As a business owner, I hear a lot of other colleagues complaining about how people just don’t spend money like they used to! In the passion economy that we live in today, people are just simply more willing to spend money on experience and with organizations that do good.

Experience

Forget the robotic nature of the past few decades. Today we want lights, camera, action! Why would I go over to Subway to get a sub when I could experience a hand-crafted artisanal sandwich from the Mae’s in Marshfield? After all, I guarantee I could take a photo of it and have people’s mouth’s watering on social media! Why would I go shovel my driveway in the dead of the winter when there are literally ice castles only an hour up north I should be seeing? Are you starting to get the idea?

We are willing to spend our money on a lot of things! The question is, what value does it add for me and my life? Of course, I’m not talking about basic necessities like a lawn mowers or water bottles, however, wouldn’t it be cool if there was a place that let you test out the ride-on mowers before you bought them?? That would be much more interesting than reading google reviews!

We want to experience something cool, something unique, something that aligns with what we believe in.

Do Good for the World

We also love spending our hard-earned money with places or brands that have a track record of doing good for the planet. Clothing brands such as Patagonia and Tom’s have dedicated a portion of their profits towards either the restoration of humanity or saving the planet. Taken from the Tom’s website: For every pair of TOMS shoes purchased, a pair of new shoes is given to a child in need in partnership with humanitarian organizations.

Those of us who are passionate about the mission that these companies offer are more than willing to support them! It has become almost non-negotiable to have a do-good association attached to your brand. We know, as consumers, that our money is going farther than just a fleece jacket or a pair of espadrilles and we love it!

With all the destruction we’ve done to our planet, us consumers really have no choice but to support the brands and companies that make it a mission to do good. Especially if we’re passionate about the mission!

Adapt or Die

More businesses need to take on the “adapt or die” mentality. Whether you like it or not, the world is changing and if you sleep on it too long, you’re going to be gone before you know it.

I went to a bar a few months ago in Ft. Lauderdale called “Glitch Bar Arcade” that was a prime example of what I’ve been talking about. It is a full-service bar that has a full-on arcade attached to it. You get carded at the door, once you’re in all you have to do is buy a drink and you have full access to unlimited retro arcade games. If I lived close to the area, why would I ever go to a typical dive bar?

Don’t be surprised if the bar next door closes down or sees an aging crowd. They weren’t willing to adapt to what the passion economy craves.

Conclusion

Countless new start-ups that have been opening have been taking on the concept of the passion economy whether they know it or not. Businesses that have been around a while need to start understanding the concept or else be doomed to get beat out by the new innovative idea.

If you’re thinking about starting a business in the future, think about what people are passionate about and what experience you can offer outside of the traditional norms. Your community will be glad you did and you’ll likely see success in today’s “Passion Economy.”

Much love, Ian Drake. If you have thoughts on this topic, agree, or disagree, feel free to leave your comments below!

-Diversity Consignment

Business · Thrifting

How to Get Started as a Thrifter

diversityconsign1 Comment

So, you want to start thrifting but don’t know where to begin? What types of things should you be looking for? Do you want to thrift for personal use or for reselling? Can I start a thrifting Vlog? These are some of the questions we’re going to try to answer for you in today’s article….”How to Get Started as a Thrifter!”

Side note: there are a lot of details involved with professional thrifting we may go over in later articles. In this one we are going to focus primarily on how to get started thrifting.

Photo by cottonbro on Pexels.com

What Is Thrifting?

You keep hearing this term “thrifting,” but you’ve been living under a rock since 2010. That’s alright, we can explain. According to an upload on Wiktionary, thrifting may be described as, “The act of shopping for cheap items, as for example at a garage sale or flea market.” We, at Diversity Consignment, are going to define the term as, “The act of shopping at a second-hand store with the intentions of using your purchases for personal use, upcycling, content creation, or reselling.”

Thrifting is what we frugal shoppers enjoy doing in our free time. It is 1, good for the environment 2, fun to do and 3, can return you a profit if done correctly. I, personally, began my career in 2014, thrifting with the intention to resell for a profit. At that time, I had very little money to start up a business and enjoyed finding treasures at my local thrift stores. Little did I know that my frugal nature would lead me in the direction that it did! Back then, it was quite uncommon for younger people to be flooding the thrift stores and flea markets like they are today (I know, hard to imagine!). But I digress…

Thrifting is a huge step in the right direction for eliminating some of the textile waste we see negatively affecting our planet. It’s a practice that has been around for over 100 years but I can honestly say it’s great to hear that you’re finally taking on an interest!

Why Do You Want To Thrift?

In order to know what to look for, you’re first going to have to understand why you want to thrift. Is it because you understand the negative economic impacts wasteful companies such as the fashion industries progress? Is it because you want to stay stylish while saving money? Or is it because you’re looking to start a side hustle you can work on to call your own? It could even be a combination of all three! If your intentions are to become a thrifter who buys for reselling or Vlogging, we’re going to try to help you with today’s article.

What To Look For

Reasonably speaking, one can find all kinds of things at the thrift stores. Most places carry a wide range of second-hand products from clothing, accessories, CDs, stereo equipment, to artwork and much, much more.

If you want to start thrifting to resell, I recommend focusing on a particular category that you find especially interesting. That way when you find something unique or valuable, you will always get the same rush of excitement. Having a niche category that you look for can also save you a whole lot of wasted time and energy!

I would also recommend starting in a category that isn’t too overcrowded but also retains interest. Take some time to research on major ecommerce websites like eBay and video platforms like YouTube for some categories that don’t seem too competitive. By competitive what I mean is a particular category that has an overwhelming number of listings or videos already made or uploaded. For example, starting to thrift for vintage clothing may be great for personal use, but when it comes to resale it will be difficult to find the “grail” pieces first of all, and secondly, it would be challenging to make a footprint in the vintage market. If you were to get into vintage clothing, I would start with a more niche category such as “vintage travel t-shirts.” (I will go into further detail in a separate article on what constitutes an article of clothing as “vintage“).

You want to be able to get your content out there to people who are actually going to see it! The easiest way to get lost in the search results is to pick a broad category that already has a lot of coverage. Due to the algorithms set in place, in order to reach the top search results in ecommerce sites like eBay or video platforms like YouTube, you’re going to need a lot of listings and content with a proven track record. Of course, none of this you will have when you’re first starting out. The fastest way to be able to stand out is to choose something specific that shows interest but doesn’t have a lot of coverage.

Where To Start Sourcing

What you look for will also be important for where you go to source. For instance, if you’re intending on starting a Vlog about tractor equipment, going to the local Goodwill might not be the best place to start sourcing. Instead, research some barn sales going on in the nearby area (yes they do have barn sales) or yard sales in a more rural area if you live in the city.

This may sound silly but I’m being serious! Where you go to source will have a huge impact on preventing burnout. There are certain places that are honey-holes for specific things. You’re going to have to do some research to figure out where it is that may have what you’re looking for. You can find information online, through reddit discussions, or even in specific Facebook groups. Ask around! some people are more than happy to share where they go to treasure hunt.

Don’t be discouraged if other thrifters don’t share the information though! Thrifters can be notoriously territorial over their favorite spots!

How Much Should I Be Spending?

Now this is when things can get a little tricky. It depends. It depends on what your budget is for exactly what you want to do. I know this sounds ambiguous but bear with me.

Of course we all want to spend as little as possible when it comes to thrifting but you don’t want to give up quality for frugality. Some things you find might warrant a higher price! Don’t shy away from spending a little more to get something that you can flip for A LOT more. There have been plenty of times that I have wound up kicking myself because I left a store empty handed simply because I wasn’t willing to spend the extra $5-10.

Do a little research to find out what the market value is for what you’re sourcing. Have your smartphone with you the whole time you’re out there so you can quickly look up comps (completed sales) to see what the true value of what you’re finding is worth. DO NOT, I repeat, DO NOT think that asking prices are what things are worth. Anyone can ask any price for any thing! Figure out what it is actually selling for.

If you are creating a Vlog on a certain niche, the budget may be a little different. You may be willing to spend a little more for something special because you know it’s going to result in higher viewership or you have no idea when you’re going to find it again.

Conclusion

Find a category that interests you (tools, records, shoes) and narrow it down to a less competitive market that still has interest. Instead of “boots” narrow it further down to “cowboy boots.” Do your research. You may be saying WTF I came here as research! Trust me when I say that this is only the tip of the iceberg. There’s way too much detail that follows to include in this basic tutorial. If you want to be successful in Vlogging or Thrifting to resell you’re going to need to dedicate a lot of time to the craft.

That’s not to say that it isn’t worth it though! Thrifting feels amazing. It’s one of those activities that truly makes an impact beyond your personal achievements. So, I say, thrift on! Buy used shit!

If you found this article helpful, please feel free to comment your thoughts and ideas below in the comments section. Don’t forget to subscribe to get notified when new articles are being released!

-Ian Drake, Diversity Consignment

Art · Business

How To Make Money As An Artist

diversityconsignLeave a comment

“There’s no point in seeking out an art degree.” “You’re wasting your time and our money!” “Yeah she’s hopefully going to get a good college experience, we’re not expecting it to become her actual career.”

The Advice

These are all typical things you’ve been told by your parents, teachers, or friends at some point during your life if you’ve ever been interested in pursuing a degree in the arts. It can honestly seem like a waste of time trying to convince people around you that this is something you’re passionate about and that you can make money pursuing.

If you’ve ever been feeling this way or have been told you should feel this way, read on my friend because I’m going to prove that you CAN make money being a freelance artist/creator and prove all the nay-sayers wrong!

Now I should note, I am not a professional artist nor do I personally have an art degree but I do know the art of creating and selling and there are certain principles that span over different facets of art.

Specialize

The key is to become a specialist. The same thing applies in whatever style of creating/selling or buying/selling you decide to take leadership and ownership of. When you specialize in one particular area or niche, you become an expert at that particular skill. This could be anything from painting landscapes, drawing graffiti art, or carving wooden sculptures. Just know that the old adage, “A jack of all trades” is almost always followed by “A master of none.” Use this to your advantage and focus solely on creating one unique specialized form.

You have to understand that when it comes to art there is a lot of competition out there. Why would a gallery or storefront give their precious space up to you vs. someone else? The answer is simple: YOU are the best at x*.

Take a look at @itsasign by Keith Henderson on IG to get an idea of specializing. He’s an artist who has honed his skills into making custom window splashes for business window displays. An excellent example of how to make doing what you love into a business and monetizing it.

Use Online Selling Platforms To Your Advantage

In today’s day and age, selling direct to consumer is as easy as creating an Etsy account or even a business IG page. Use these platforms to your advantage! They can be especially advantageous when you have mastered point number one, “Specialize”. First of all, people love buying handmade and custom made things from Etsy. It gives you a feeling of wow this was made just for me! It works out even better when it comes to gifts for people’s birthdays and holidays. Making your art customizable for people to buy as gifts is a huge advantage to being able to do what you love to create and make some money doing it.

Yes I know, Etsy takes a fee but trust me when I say that everything comes with a price. At least you’re putting your work out there to thousands of eyes who wouldn’t have seen it previously! I will probably do a more detailed post about how to create an Etsy page in a separate article.

As far as selling on IG goes or creating your own website, this too is a good way to sell products or gain a solid following. I would avoid posting only “product” posts on IG (especially on the feed) and post more about how it’s made or something funny like blooper reels. Take a look at @madeinthemoment on Instagram for an example.

Remember, IG or Tiktok are social apps and people will be lulled to sleep on your page if they don’t see anything entertaining. GET CREATIVE! IT’S WHAT YOU’RE GOOD AT!

Instead, use IG or tiktok as a funneling tool to get people to click on your website or Etsy shop. The integration is awesome and powerful. Once you’ve gained a substantial following of people who love what you create, you can funnel them right into your site! Offer special coupons or call to action incentives for people who order from you directly.

We (@diversityconsign) sell our products directly through our story page on IG. We take venmo payments for holds and ship things out for an extra fee.

On The Road

Now that you have your social apps working to your advantage, it’s time to get the word out there. You can try and wait it out and spend your time twiddling your thumbs until word of mouth spreads or you can get yourself in the drivers seat and spread the word yourself!

Start by researching and getting involved with outdoor or indoor markets. They’re typically affordable (small start up costs) $50-100 and they can be great for exposure if you find one in a busy part of the city! I know for example @neoopenmarkets has a few in our local area of Boston! But if you do your research, you’ll definitely be able to find some near you.

You’re going to need a few basic things; a canvas tent, a foldable table, a card processor, table cloth and be prepared to have some products ready and available! Make the investment! Bring some business cards to hand out that can direct people back into your funnel and be ready to talk people’s ear off about who you are and what you do! Be prepared to spend some weekends traveling and waking up early.

If you’re an artist you’re going to want to make some prints available of your originals. Trust me, most people do not carry hundred of dollars on them during pop-up markets and are less likely to buy originals and carry them around. Use your social skills to tell them about where they can find your originals for sale.

Get your products in as many stores and local businesses that will take them. From a small business perspective, we love the feeling of helping someone gain exposure. Even if your art doesn’t get purchased in the store, you should have an artist bio made up letting shoppers know who you are and where they can find more of your products!

Conclusion

I know you want to spend your time creating new products but you need to remember that you’re trying to make some money here as well. Turning your art into a business is extremely time consuming and involved. That’s why only a small number of people actually succeed in transforming “doing what they love” into a sustainable career! You’re going to need to spend a lot of your time focusing on marketing yourself and creating a need for your work. That’s what separates the dreamers from the doers.

I would recommend watching YouTube tutorials and reading educational books on business regularly. After all, that’s what we’re really here to do right? Prove the nay-sayers wrong and show them that you can make a career making art and more importantly doing what you love!

Leave a comment down below and let us know if you think this information was helpful! -Much Love- …Ian Drake, Diversity Consignment.