opening a brick and mortar lego resale store

[Goofball814]

4 hours ago, TabbyBoy said:

It would be nice to know what the wholesale prices are along with price breaks. I'm guessing that big players must be getting at least 70% discount to afford overheads, free P&P and yet still offer big discounts.

Last order form I seen, on Star Wars, markup was about 18%.  Most licenced products was between 20-25%.  City and Lego owned themes (Ninjago, Friends, creat or 3-in-1) was still less than 40%.

 

And that didn't even include freight to have shipped/delivered to store location.

[The Builder]

6 hours ago, DadsAFOL said:

Let us know if any of the following have changed recently regarding ITD:

1. have to have a brick and mortar store for minimum 2 years open

2. can't sell more than 50% Lego

3. online sales strictly prohibited

4. minimum order must include all product lines, no pick and choose

 

There's a reason why very few BrickPickers have ITD accounts.   In addition, I've been told that even if you are accepted, you can expect sets 3-6 months after general release.   They fill Amazon/Target/WalMart first before they bother with the ITD orders.

 

True, I'm interested to see what exactly they'er requirements are for ordering? I'm not quite shore how ITD handles brick and mortar store wholesaling. I have an inline subscription store. Sorry . 

5 hours ago, Jackson said:

From what I've seen in the past, LEGO wholesale prices are a joke (unless something has changed).

I have heard that they have steep minimums. But if I get approved, then I can tell you for shore. 

3 hours ago, SageFly said:

A local Mom & Pop toy store that closed down a couple years ago here had an account with Lego. They had a minimum yearly requirement that was pretty steep along with very little margins (10-15% off MSRP). I never saw them with sets that were >500 pieces, likely due to the price. I've talked to the previous owner a couple times this year as I've been working out my business details and her recommendation was to source anywhere else if possible.

I'll take that under consideration. 

3 hours ago, Ed Mack said:

Sounds real easy.  Where can I join?  

You have to have a business of some kind, online or brick and mortar. Sorry.  

2 hours ago, mizeur said:

For a small commission, TB will coach you both on how to talk to the CSR and fill out the form. Typos at no extra charge.

I've filled out the form multiple times, I'd be happy to help. You need a business first, unless your planning on selling them on this website. That would be great!! 

[Brickbuilder.g]

Are you shore about that?

[lodibricks]

4 minutes ago, Brickbuilder.g said:

Are you shore about that?

[brickolodon]

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[mudcatsfan]

On 10/21/2018 at 3:40 PM, Clintonjoseph said:

thanks! i tried to make it look as professional as i could while still staying on a very limited budget. most of the shelving and display cases were bought used from craigslist. i wanted to have the colorful lego boxes and sets themselves stand out so i just left the walls white. the brick wall idea i got from another independent lego store down in florida: brick city bricks (great store and very nice owner, check them out if you’re in the tampa area).
i still have to finish up the party room, and start on my big display/town area, i’ll keep you all updated!

I've been to that store and you're right, it's awesome. 

I wish you all the success in the world.

Make those initial experiences positive and be able to throw in little extras to hook your customers on their first visit.

Use as much social media as u can and get into all the local moms groups on Facebook, Instagram etc to advertise your parties.

Good luck!

[donbee]

I met a lady last month that worked for Lego for several years. Her position was removed after the last restructuring. She was in charge of small to mid independent accounts in Florida. From Ma & pa to Publix and BAM.
She said that Lego hated online stores for a while, but they were realizing they had to keep up with trends. She didn’t quite elaborate, but she gave a key point that she knew about b&m stores that would probably also apply to online stores: Lego considers itself a luxury item. They do not like to be in heavily discounted stores or gas stations and stuff like that. Versace doesn’t want to be sold at Macys. The other things you sell are as important as how much you sell. They also want to know how much you expect to sell annually.
So if you have a website that specializes in retail arbitrage, no love from them.
But maybe if you’re selling expensive STEM and coding kits, or fair-trade, all-natural Montessori teaching materials made from petrified unicorn droppings. You may have a chance.

She told me 35-45% with unlicensed sets often being more expensive.

Lego does not cap the prices you can sell at, but has a very strict minimum. If they catch you advertising a price on a set below their minimum, they freeze your access to that set for something like 3-6 months.

[Clintonjoseph]

Thought I would give some info on some trends i’ve been seeing in the store this past week, maybe help decide what sets to invest in:
Lots of kids want dino sets. Almost every Dad that comes in makes a comment about wanting the Saturn V rocket. I have a used one on display and most people are amazed at the size of it. Wish I had kept more Wall-E. Only had 2 and they went quickly at $145 each. Really all of the ideas sets get positive comments from parents. Elves more popular than Friends. People have asked about Minecraft, a theme I only have very few sets of, I guess i’ll have to get more. Not much interest in Brickheadz. More interest in mixels than them. Most popular CMF is babysitter and banana guy. Also the skeleton trick-or-treater from monster series, but i’m sure that’s just seasonal. Other figs most popular are any random storm/clone trooper. As for used sets, many like the Indiana Jones sets, and mention they didn’t realize there were ever indy lego sets. I also had about 5 power miner sets that all sold really quickly on the first day.
Once again, thanks for all the positive comments here!

[TheOrcKing]

12 hours ago, Ed Mack said:

I need someone to show me the way to fame and fortune.

[SLL]

wish you all the best and hope you enjoy the journey

[meganr]

I have been to numerous Bricks and Minifigs franchises and several other independent Lego resale stores. As a customer, I like to treasure hunt in the bulk bins and build-a-minifig area. I love to find a piece I need for a set or a cool minifig piece I haven't seen before.

The stores I have enjoyed the most have bulk bins that are full, but not overflowing as it's hard to look through them without a ton ending up on the floor. Most importantly though, they are not "cherry picked" to the point of being pretty much red, yellow, and blue bricks. I won't even bother looking at the bulk if there are no interesting pieces or colors.

As for the build-a-minifig area, when the bins have decent parts that are not all boring city figs and are not all scratched or chewed on etc, then I'll dig through them and likely find something I like.

One last suggestion, be as fair as possible when people bring stuff to sell or trade. I have seen a lot of terrible reviews for some stores because people feel like they got ripped off. If they feel like you were fair, they will bring you more stuff in the future or tell other people to bring their Lego to you. I will drive an extra hour to take my stuff to the store that I feel is more fair with me than the one that is 10 minutes from my house.

Good luck on your store! Opening right before the holiday season seems like a smart move.

[justapilgrim]

Good luck. I always had in the back of my head I would open a BM store, just not enough time and I have a good job

[belljohn]

@ClintonjosephCurious to see how your first black friday went.  Here is a photo of my pop up shop hosted by Green Road Pottery in Stoughton, WI.

Retail prices on everything.  There are some good deals in there.  Come and visit and mention your a Brickplicker for 5.25% off (to make the price esentially tax free).  Or just come in and say hi.

[donbee]

How’s it going?