How to open an antique mall or shop

How to open an antique mall

In terms of profitability, trade in antiques ranks third after the sale of diamonds and petroleum products, and the prices of antiques are increasing every year. This gives hope that the business of antiques is definitely promising.

The difficulties in opening an antique mall associated with large capital investments, but the business plan is quite simple. Experts believe that the payback of antique shops start with the second-third year of work and the formation of a sufficient customer base.

The principle of the antique business is simple: to buy cheaper, and sell dearer. But to buy, you need the initial capital, its own or borrowed. This fact makes the majority of such stores to work on the Commission from 20 to 25%.

Also, antique dealers, as a rule, prefer to resell immediately the goods purchased on borrowed money. Purchases paid from their own pockets can be saved until better times, when things will go up in price. It is believed that the successful Antiques dealer every year becomes richer by 20%.

Another peculiarity of antique dealers – they like the times of crisis. The demand for their goods in troubled times is noticeably reduced, but the opportunity to buy quite valuable and even unique items at a bargain price increases.

The hierarchy among antique dealers

In the antique business there is a clear division of responsibilities, in which each person is responsible for a certain part of the work:

Buyers. They purchase antique things from the population. Field of activity – flea markets, villages, personal contacts. Having bought up cheap items of interest, buyers resell them to antique dealers or individuals. The main objective of buying up – to buy things as cheaply as possible.

An appraiser. Appraisers evaluate items based on their origin, history, and price. Services of a qualified appraiser is highly valued. Approximately half of all antiques turn out to be fake, and only an appraiser who is able to distinguish the genuine thing from the fake, always in demand.

Appraisers value their reputation very much. True professionals usually specialize in a single historical period or deal with a specific group of items. Preliminary evaluation can be done by photo, and the examination uses laboratory equipment and chemical reagents.

Antique dealer. Antique dealers choose to specialize in one or more areas: furniture, paintings, weapons, books, coins, sculptures and more. It is impossible to be equally well versed in everything. Successful antique dealers always have a reliable seekers of rarities and appraisers. The dealer Antiques can be his own antique shop or online store, the essence of the business remains the same – to buy and sell profitably. 

Antique business – not the “court” gastronome. Entering this business without knowledge of the antique business makes no sense. And to acquire the necessary knowledge can only be in practice, watching the process from the inside.

The best option – to work in someone else’s antique store for several years and gain experience, which you can not learn from their books. The ignoramuses in the antique business never take root. True professionalism is the only quality that is sure to appreciate the collectors of Antiques.

How to open an antique mall

Where should be located antique mall?

The choice of place for the store, which sells Antiques, you need to take a particularly judicious. Correctly selected place always a beneficial effect on the business. As in any trading business, it is better to choose the lively areas.

But in the case of the antique business is most suitable areas near museums, in the historical part of town, where a lot of tourists, close to the exhibition halls. It is there are connoisseurs of the beautiful, which will be the main customers of the antique store.

Bureaucratic aspects

First of all, you should register with the tax authorities as an individual entrepreneur or a limited liability company. The first option is easier, because it requires less effort in the registration.

After that, you need to get permission from the sanitary and epidemiological service and the fire inspectorate, if you are going to build premises. If the premises will be rented, the landlord is responsible for communicating with the Sanitary and Epidemiological Service and firefighters.

Purchase of equipment and goods

In order for the antique mall to be fully operational, the following equipment will be required: 

  • enclosed glass showcases,
  • tables,
  • racks,
  • cabinets,
  • cash register.

Items must be arranged in such a way that the buyer can examine them without hindrance. Therefore, the room should not be cramped – at least 50 sq. m. Showcases are best used for small items: coins, jewelry, bills. On racks you can conveniently place souvenirs and household utensils.

Cabinets are suitable for the storage of expensive and exclusive things. In some antique shops it is customary to keep some things in safes or in a warehouse. Of course, the owner of the store has the right to solve this problem at his own discretion, but it seems to us that it’s better when customers can see all the goods.

Particular attention should be paid to the interior design, which should create the appropriate mood. It seems to us that the setting should not be too modern, on the contrary, it is better to slightly age the items, so that antiques look organically.

An important component of success is the client base, which will ensure the purchase of Antiques. It is desirable to buy only things that have a reliable demand. If you manage to enter into its range of something unusual, the price of such goods may be somewhat inflated. In other cases, try to assign prices, somewhat lower than those of competitors. Well sold antique furniture, coins and jewelry, but to procure them, you need sufficient funds.

Selection of staff

If the store is small, for its maintenance is enough to 1-2 people. To increase profits is useful to invite the consultant, able to professionally describe the goods and suggest where you can buy or sell any Antiques. Advisory services should be paid.

All items for sale should have a marketable condition. If you plan to sell jewelry and precious stones, you will need a license and registration. The seller must have a professional understanding of antiques to avoid accepting fakes.

Costs and income

The Organization of the antique store requires a significant initial capital. But if you are going to open a small shop about 10 square meters, you can get by in a few tens of thousands of rubles. The arrangement of the store will be associated with entirely different costs. The main costs will be associated with:

  • The rental of premises,
  • Purchase of equipment – display cases cost from $ 100 each, cabinets – from $ 120,
  • communications and repairs;
  • Purchase of antiques;
  • Payment of wages – from $200.

It is difficult for us to specify the amounts that will be needed to put the room in proper condition and purchase items. It depends on your plans and capabilities. With considerable expenses it should be said that the profitability of antique stores high, because over time, these goods only get more expensive.

The organization of the antique store is seen as a very promising business, although in the first year of operation usually a profit is not possible. With sufficient initial capital and possession of professional knowledge trade will be profitable.