Kelli Truelove, cofounder of Intown Thrift, shares insight from her entrepreneurial journey thus far:
What do you wish you knew about business ownership when you first started, that you know now?
Where to begin. I think the biggest lesson has been the cost to market. Advertising. Getting your name and brand out in the marketplace – it is expensive. But it is essential. Figuring out how to drive customers to the front door, and knowing where to spend your advertising and marketing money is a real challenge. It requires strategic thinking and smart allocation of limited resources.
Who has inspired you in business and how do you stay motivated to continue?
Inspiration is a funny thing. If you don’t feel it you shouldn’t be running your own business. Inspiration is what puts your feet on the floor those mornings you’d rather not. Missy Koefod from 1821 Bitters Company inspires me. we stay motivated by the inspiration that sits in our guts, swirling around and causing us to come up with daily goals, new ideas, little steps we can take as a team to build the business We can see in our mind’s eye.
What advice would you give to an aspiring entrepreneur who wanted to get into the thrift store industry?
Know your product, and more important, set the right price point. Retail product that doesn’t move, takes up floor space and costs your business money. The goal is to move product, and drive revenue. Otherwise, your business will struggle or fail. So if you are new to the thrift store business, know what’s on your shop floor – ask yourself if it’s priced right. If it’s not selling, ask why. And then make adjustments. Take careful note over time of what works, and what does not. And remember that each day something sits on the shelf without selling it’s costing your business money.
What is the biggest or proudest moment of your entrepreneurial journey thus far?
The proudest moment of this journey has been the day we opened the doors. And every day we’ve kept them open thereafter! Walking into your own business each morning is an amazing feeling.
But it’s also really nice to be recognized for your hard work and success along the way. We were thrilled to be twice nominated as Atlanta’s favorite thrift store – by two separate blogs/magazines. It’s always nice when others see your vision paying off, too
Learn more about Intown Thrift by visiting their website here.
Facebook: Intown Thrift
Twitter: Intown Thrift