When you think of consignment, what do you think of? Well, whatever your thought is, you thoughts will change when you walk into FLIP Men’s Consignment.
Here’s a little background on the consignment process: Most consignment shops offer used goods at lower cost than new goods. The stores sell goods retrieved from consignee (sellers); the store then sells the item, and gives the consignee a portion of the profit. Usually a specific amount time is arranged to sell the item, then the consignor can retain the item. Consignment shops are different from thrift stores and charity shop, because at thrift stores the owner surrenders possession of the item as a charitable donation.
Klane has no traditional background in fashion or retail, however he researched the retail and consignment industries, wrote a business plan, and launched out into unknown territory. Joining forces with him is Mark Shaffer, the manager for the store, who had no previous experience in the retail industry as well.
Klane and his staff strive to know repeat customers by name, which adds to the charm of the store and its appeal. FLIP does not have a major advertising campaign, however by word of mouth, the company won a Best of Nashville award, from the Nashville Scene. Klane expressed, “We didn’t even know, and we didn’t vote for ourselves. We were pleased to know we struck a chord in Nashville.”
Klane and Mark buy from high-end boutiques as well as individuals. Klane notes, “It’s not the label, but the condition that will merit high sales for the store and for the seller.’ Being extremely selective on what they take from clients allows the store to have a higher level of inventory to sell. Consigning this way, helps FLIP succeed, by offering great clothes that appeal to different customers. Nashville has a high number of retail men’s shops (like Levy’s, Jos A. Bank, and mall retailers) which allow more men to come in and ‘FLIP’ their items. Klane tells me that ties, shoes, casual shirts, and denim are best sellers at FLIP.
FLIP is not a ‘seasonal’ store, but a store that will offer timeless fashion. The store manager processes clothes daily, so shoppers will be surprised by what is available.
1100 8th Avenue South
Nashville, Tennessee 37203