When people dream of owning their own business there are several businesses that always come to mind and owning an antique shop is always quite high on the list of those usual suspects. However owning an antique shop is not as simple as it looks. Competition is tough, and the present economic climate has meant that the clients with money to spend are thin on the ground.
It has been suggested that one-quarter of the overall population collects something. As people become more educated and experience greater expendable income, they tend to look at the purchase of antiques and collectibles for investment, security, and for aesthetic appeal. It is estimated that one-third of these people invest in antiques and collectibles.
The prime antique collectors seem to be the more affluent population born in the 1950s and 1960s. Since the number of people in their thirties and forties is the fastest growing segment of the population, it would seem that the sales of antique objects will continue to be strong over the long term.
Owning an antique shop is not a short-term profit-making venture. Antiques can sometimes sell well, if they’re at a good price, or they can sit for months if not years with few interested customers, therefore, some owners make their antique shop only a side line to their usual occupation, or they start from home or just specialize in antique fairs.
The article above was lifted from www.startups.co.uk and was intended for English market, but the idea can be adapted in Philippine market setting. Photo from westernontarioantiques.ca