Saturday, January 30, 2010

To Consign or not consign

In this shaky economy, store owners are less apt to buy and more apt to consign. 

Less risk equals more cash flow and more products to entice customers which also leads to more exposure for the artist or vendor.

I have been on both sides of this fence. Neither side can be pretty at times, however if you have a good relationship that has structure and boundaries, it can be a wonderful prosperous venture for both parties.
Here is an article I found that might be of help to vendors.

As far as store owners go, there are amendments that need to be made to accommodate vendors who abandon their merchandise and think that showing up a year later entitles them to get paid and or get their merchandise. At some point, you are likely to become a storage unit - especially if the items don't sell.

Where does the store owner's responsibility end? I plan to inquire about that, I can assure you.

This artist I am speaking of as it turns out, had no contact information on her contract or invoice, so I had no way of finding her - until she found me. Which is pretty easy since I am in the same city, I have previous blogs that link to my current one with a current email address. It wouldn't have taken much to contact me if she was that concerned with her product. But a year? Really?

My suggestion to store owners is to have your own consignment contract with your own guidelines that acknowledge your state's UCC code.

I plan on consulting my uber fabulous business attorney Laurie Butler to have one specifically tailored for my store and share it with all of you very soon!

These pictures were taken at my old store Revolution Malibu across from Zuma Beach in April of 09

1 comment:

  1. That would be great--so many designers starting out have to consign regardless of the economy, I know it would be a big help!

    Thanks for stopping by today! Hope you're enjoying the weekend--the sun finally came out here at the beach, so nice!

    xo Mary Jo