START A HOME REMNANT SHOP – WITH NO CAPITAL
It often amazes our commissioning editors how often a “spur of the moment” idea for making money has somehow snowballed into a full scale business.
Our Chief Editor, William Donaldson, recently met with the proprietor of a ‘home remnant shop’ and was fascinated to learn how easily and quite unexpectedly she had become established in her little business.
It seems that Laura Reeves, originally from Fulham in West London but now living in Wednesbury in the West Midlands, was divorced in her twenties, a few years ago.
She had little income except the rental income from a small shop, adjoining her flat, both of which were part of the divorce settlement.
While talking with the owner of a remnant shop in her native London one day, where she had gone to make a purchase, she got the idea that she might make more money selling remnants, using her shop for a display and sales room, than she could get if she continued to rent the property.
Since her tenants were ready to move to newer premises in about two months time anyway, she decided to give it a try.
She found some good sources of materials among the many textile manufacturing mills in her area, and started off with a small amount of stock.
At first she ran an advertisement in the newspaper every Thursday and only opened her shop on Fridays and Saturdays.
As its popularity grew, however, and tales of bargains to be found there spread, she was soon able to discontinue the
newspaper advert, and also found that it was necessary to keep her shop open every day to accommodate her steadily increasing number of customers.
Such a shop could be operated easily from a cheaply rented shop in a poorer end of own, where people are willing to travel a few extra hundred yards for real bargains.
There is no reason why you couldn’t start in a very small way from home, though, if you have no prior experience in business.
Incidentally, Laura stresses that you certainly don’t have to have a mill ‘on your doorstep’ – even the smallest town has
outlets for cloth and has remnants often hidden away at the back which they sometimes will be glad to give you for free.
Don’t be afraid to ask or you won’t know!