Just a few years ago, when one thought of a home-based sales business,
Tupperware, Avon and a host of multi-level marketing schemes might have come
to mind. Today, however, changing market conditions and evolving consumer
habits have converged to make home-based selling businesses a realistic
opportunity with real profit potential.
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This is especially true in the world of collectibles and giftware. In
years past, collectors who are among the most discerning shoppers had few
avenues for conveniently finding and then purchasing the items they were
seeking. They would have to visit specialty shops and expensive boutiques.
They often waited for the right specialty event or show, and then would
drive many miles to attend so they could look for that exceptional piece.
With Internet retail sites, online auctions, and a growing body of
home-based entrepreneurs, these shoppers now are able to take advantage of
many new resources.
For those considering home-based businesses, there are many avenues.
There are franchises, partnerships and other business relationships that
involve other people. Many of these require an investment in someone else s
business, and unfortunately, many of them turn out to be scams. For those
looking to sell collectibles and giftware from home, the only investment
that is made is in that person s own business. The start-up costs depend on
how much inventory the entrepreneur can afford to have at first.
With our economy poised for what some economists are calling a
potentially unprecedented recovery, those searching for high-quality
collectibles and giftware will have more money to spend on those items they
cherish, and they will be looking for convenient and inexpensive ways to
collect them. Selection, price and superior customer service will
differentiate the successful entrepreneurs in this area.
Collectibles and giftware are sold by home-based entrepreneurs using
several marketing programs: retail sites on the Internet, online auctions
such as eBay and others, swaps and flea markets, mail-order, catalogs and
in-home parties. Some people sell collectibles and giftware for supplemental
income, and some make a business of it. Either way, selling collectibles and
giftware is a proven way to immediately improve cash flow. Collectibles and
giftware are also often sold or auctioned to raise funds for nonprofit
organizations.
Entrepreneurs often get into the business of selling collectibles and
giftware in stages by setting up a small Internet retail site, or attending
flea markets on the weekend, or putting a few items up occasionally at an
online auction site. Because the profit margin in selling these items can be
great, in many cases these people soon quit their day jobs to sell
collectibles and giftware full time.
As we stated before, collectibles and giftware shoppers generally know
what they re looking for and they now have many more options for finding
what they want. Entrepreneurs who want to succeed need to do four things:
- Stand out from the crowd by selling the types of collectibles
giftware that people are buying.
- Offer some exclusive items that cannot be found anywhere else or
that cannot be found easily.
- Be a resource for your customers.
- Keep prices low.
Home-based sellers of collectibles and giftware need to keep on top of
what their customers are buying so they can stand out by selling popular
items. Tastes and trends in collectibles change over time, so these
entrepreneurs need to do their homework, using research tools such as the
Internet and keeping a close eye on the competition. Offering exclusive or
hard-to-find items is another way to stand out in the collectibles and
giftware world. We are constantly looking for such items for our retail and
wholesale customers so we can differentiate ourselves from our competition.
Entrepreneurs should keep in mind that collectibles encompass a
mind-boggling number of items, since the term refers to anything that people
might collect. Often, specializing in a certain type of item can be
profitable if there is a large enough demand and there are few sources for
the item.
Even with all of the technological tools at their disposal today,
collectors still have trouble finding an item that they desire. Some
collectors may not be Internet-savvy, or may not be familiar with sources in
their areas. The more adept that home-based sellers of collectibles and
giftware become at finding specific items for customers, the more they will
be relied on as a resource, and the more customer loyalty they will develop.
Even if an entrepreneur does provide all of this added value to the
customer, prices should be kept low. Customer loyalty can quickly turn if
they realize that the items of a certain seller are obviously overpriced.
The profit margin for collectibles and giftware is generally high, so prices
can be kept low while the profit margin can remain relatively high for the
seller. Keeping prices low will help the collectibles and giftware seller
attract many more customers.
One of the best aspects of selling collectibles and giftware is that it
is a year-round business, unlike the huge seasonal highs and lows seen in
other retail areas. At the same time, the Christmas, Mother s Day and
Valentine s Day shopping seasons always bring a big boost to the
collectibles and giftware business.
Selling collectibles and giftware can be a rewarding home-based business
in which the entrepreneurs are truly their own bosses. Because of the
changing habits of collectors and the impending economic upturn, selling
collectibles and giftware is perhaps one of the brightest opportunities in
the world of home-based businesses today.
