Many people are unaware of how expensive and rare some old stuff is. Vintage or antique furniture, paintings, sculptures, etc, can be very expensive. The cost of such stuff depends upon artist/manufacturer, creation, source and most importantly, age and rarity. Try to visit an antique store, and you'll find stuff like dolls, toys, coins, vinyl records, furniture and you can hardly get out of the shop without purchasing anything.
The craze for antique and vintage things is never going to die, and the costs of such things keep on increasing as they get older and older in most cases. If you open your antique piece shop, manage to catch some suppliers who bring old stuff to you at a reasonable cost, and get some antique lovers on your client list, then you can earn more than expected. Also, many auctions are happening now and then, and such auctions may open the doors of success for you. But do you have any idea of how to set up an antique shop? If you don’t know, no worries! Let's understand every detail from this post!
Did You Know?
A standard dealer can make around 30% of the investment if the purchasing is done smartly.
How to Start a Vintage and Antique Store in India?
Finding the Perfect Antique Product Line
The first step on how to sell antique items in India is finding the right product line. The selection of antique shop's inventory includes furniture, art pieces and home decor accessories such as mirrors, doorknobs, candle stands, furniture and numerous other things that could be a draw for an art lover's eyes. They can be a great showpiece in any living space. Beyond individual customers, these products can also serve as office decoratives or home decoration items.
There is also special garden furniture you can keep in your stores such as antique fountains, pots and others. If your area is popular for Woven carpets, then you can sell them in your shop, as they can be in a prominent place in the interior decor or the floor of a museum. You could even create an exact copy of an antique art style for your clients.
If you sell your antique artefacts in an online antique shop in India or an outlet mall or have a counter set up at an antique marketplace, then the main business involves acquiring new artefacts to sell for an income. Find the most reliable sources to purchase the items at the most affordable price.
Expenses Involved
If you are looking to trade cheap items and wish to become an antique dealer in a part-time capacity, starting an antique shop could be a cost-effective antique business idea. To begin, it is necessary to purchase an inventory. It can be run as an occasional project as well.
If you are planning to open a store of a larger size, then it is necessary to invest lots of money. The expenses include leasing or buying the premises, constructing areas for display, and then buying expensive products. To cover the ongoing costs for the antique shop, it is essential to have an excellent credit line. Also, you must spend money to maintain the condition of the display area.
Also Read: Best Part-Time Business Ideas to Supplement Your Earnings
Location Required to Start an Antique Shop in India
Finding the ideal place to start the antique business is an essential aspect. It directly affects your overall success. When choosing a location, you must be aware of certain factors.
It is possible to begin an antique business in about 800 square ft. area. Choose the location where you will be able to start your antique shop in India. A market area with a lot of tourists is the best place to get started. Further, make sure that the storefront has ample space to let air circulate as you work.
Also, ensure that the antique shop has spaces to store antique furniture. Choose an area where potential buyers can easily cherish antiques. Remember, they'll buy if your products attract their eyes.
Investment Required to Open an Antique Business Store in India
It is necessary to have a bank balance of ₹3 to ₹5lakhs in order to begin the business. The antique business is an original business model that allows you to make good money with a minimum investment. However, you can certainly invest more if you want to expand your inventory. Are you short on investment? Look out for the types of loans available in India.
Seating Arrangement for Your Customers
You should have proper seating arrangements for your walk-in customers. Find among the best antique dealers in India who can offer you a discount for antique furniture. If you are a fan and an expert on antiques, it can help you purchase the right things. If you're not sure of your intuition, you should consult an expert consultant to assist you in finding the perfect antique furniture. Yes, new furniture won't look that good in an antique shop.
Hire the Experts for Antique Furniture Restoration
It's great if you are already familiar with historical items for sale in India. However, if you aren't equipped with knowledge and experience in antique restoration, you could seek help from a consultant that will help you. If you're facing difficulties repairing antiques, hire experts to handle it. The more professional their work, the more valuable your antique item will be. It can affect the value of your Antique selling and restoration business. You'll get not just the buyers in your shop but also those who want to repair their antique items when you provide restoration service.
Licence for Refurbished Antique Furniture Business
Registration of Firms
You can start a moderate to small antique business through a Partnership or a Proprietorship. If you're starting your business as a One Person Company, you must create your business as a sole proprietorship. To operate as a Partnership, you must be registered as an LLC, LLP, or a Private Ltd Company with the Registrar of Companies (ROC).
GST Registration
Apply to be eligible for GST registration. This will give you the GST number necessary to operate an enterprise.
Trade Licence
Get a licence for trade from the local authorities.
MSME/SSI Registration
You can apply for MSME/SSI Registration that permits you to access the government subsidies and schemes for your Antique furnishings restoration company if you qualify for any.
Trademark
Secure your Antique furniture restoration company's name simply by registering a trademark of your choice
IEC Code
If you plan to export your antiques to an international market, you need to apply for IEC, which gives you import-export codes that are mandatory for the import/export of any vintage or antique item outside of India.
Also Read: Top Small Business Ideas to Make You a Successful Entrepreneur
How to Set up an Antique Online Shopping Store to Attract More Customers?
Establish an Online Presence
Today, the need for an antique furniture restoration website for your business is vital and will allow you to connect with the largest number of customers.
It is also useful for an entrepreneur who wants to begin an antique business at home. You can showcase the antique items on your website, and you do not need to pay for a physical store.
You can also sell your antique item via other websites.
B2B Websites
You can register your furniture restoration company on B2B websites such as:
- Tradeindia
- Indiamart
- Exportersindia
- Alibaba
B2C Websites
Create a furniture restoration company page on B2C websites such as:
- Flipkart
- Snapdeal
- Amazon
Conclusion
Besides being a very lucrative business, selling vintage and antiques can be a great business idea and even a hobby. If you're attracted to antiques, you'll enjoy every minute while running an antique business. Each day, you may come across new and unique items, and you may gain experience and knowledge as well!
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