Thrift shop business plan template

Complete thrift shop business plan template (with financials and written example): use it with our online business plan software or download as PDF or Word.

Discover our thrift shop business plan template

Our thrift shop business plan template gives you the structure to write a professional plan

Not accustomed to writing business plans? Our thrift shop business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of a thrift shop in France, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

thrift shop businesss plan template
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How to use this thrift shop business plan template

Edit the thrift shop business plan template online, or download it

There are 3 ways to use this template:

  • Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
  • Download in PDF: if you're just after a little inspiration, you can download the thrift shop business plan template in PDF to read over it
  • Download in Word format: want to edit your plan on Word? Simply export the thrift shop business plan template to Ms Word (.docx) format
online editor for thrift shop business plan template

Thrift shop business plan template content

This template includes a complete thrift shop business plan example, with a financial forecast and the following sections:

  1. Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
  2. Company: this section lays out the structure of your business, including its location, management team and legal form
  3. Products and services: here, you'll give an overview of the clothing, shoes and accessories sold by your thrift shop
  4. Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
  5. Strategy: this section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way
  6. Operations: this step lays out the company's operational organisation, including the recruitment plan
  7. Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statement).
  8. Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).
cover page and table of contents for the thrift shop business plan template by The Business Plan Shop
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Executive summary of the thrift shop's business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our thrift shop business plan example's executive summary is formed of the following subsections:

  1. Business overview: in this subsection, we outline who the thrift shop founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
  2. Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the thrift shop's owners and explain who they might target (our thrift shop business plan template targets women between the ages of 25 and 55)
  3. Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the thrift shop over the first 3 years of operation
  4. Our ask: in this subsection, we outline the amount of financing required to start the thrift shop and how it's going to be funded (the founders are seeking a bank loan to start their thrift shop)
executive summary for thrift shop business plan sample

Company overview included in our thrift shop business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our thrift shop business plan template's company section is formed of the following subsections:

  1. Structure & Ownership: in this subsection, we outline who the thrift shop shareholders are, what legal form they've chosen for the business
  2. Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
  3. Management Team: in this subsection, we give an overview of the background of each of the thrift shop's founders and explain how they met and why they decided to start a company together
company overview included in thrift shop business plan template
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Products and services offered by the thrift shop

The products and services section is where you will present the different types of clothing, shoes and accessories sold by your thrift shop as well as additional services.

In our thrift shop business plan template products and services section, we cover:

  • Clothing: an extensive clothing collection comprising of vintage pieces and high-end fashion labels which vary with seasonality, including shirts, pants, dresses, coats, overalls etc.
  • Shoes: a range of shoes mainly consisting of heels or leather shoes
  • Accessories: a selection of one-of-a-kind pieces including brooches, hats, caps, and unique sunglasses
  • Customer service: information about the unique history of the pieces available in-store
product and services description of the thrift shop business plan example

Market analysis for the opening of the thrift shop

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)

Our thrift shop business plan example's market analysis section is formed of the following subsections:

  1. Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
  2. Target market: in this subsection, our founders explain who they view as their ideal customers (our thrift shop business plan template targets women between the ages of 25 and 55) and why they chose to target them
  3. Competition: in this subsection, we take a look at the direct (other second hand clothes shops in the downtown area) and indirect (other clothing businesses, such as fast fashion shops, independent clothes boutiques and department stores) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new thrift shop
  4. Regulation: in this subsection, we give an overview of the main regulation applicable to our thrift shop
market analysis section of the thrift shop business plan template
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Setting the strategy for our thrift shop

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our thrift shop business plan template strategy section is formed of the following subsections:

  1. Pricing: in this subsection, we explain how we set the prices of our main categories of products (clothing, shoes, accessories) and the rationale behind our choice
  2. Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among thrifters
  3. Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
  4. Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our thrift shop and outline how we intend to mitigate them
thrift shop business plan example: stragtegy section

Operations section of the thrift shop business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our thrift shop business plan example's operations section is formed of the following subsections:

  1. Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsabilities of each of our thrift shop staff members
  2. Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
  3. Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them
thrift shop business plan template: operations section
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Financial plan included in our thrift shop business plan template

This section presents the expected financial performance of the thrift shop over the next 3 years.

Our thrift shop business plan example's financial plan is formed of the following subsections:

  1. Start-up funding: in this subsection, we list the cost of each item required to launch the thrift shop
  2. Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the thrift shop's financial forecast
  3. Sales forecast: in this subsection, we detail the expected revenues and growth rate for our thrift shop in the coming years
  4. Cost structure: in this subsection, we list all the expenses required for our thrift shop to operate smoothly
  5. Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our thrift shop over the next 3 years
  6. Projected cash flow statement: in this subsection, we analyse the expected cash generation of the thrift shop
  7. Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet
thrift shop business plan forecasted P&L

Appendices of the thrift shop business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our thrift shop business plan template's appendices include:

  1. A Maturity profile chart showing the principal repayments of their loans over the next 3 years
  2. A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations
thrift shop business plan template: monthly cash flow forecast

Thrift shop business plan template sample

Executive Summary

Business Overview

La Chineuse Caennaise will be a thrift shop located in downtown Caen at 6 rue Saint-Sauveur in Caen.

Rue Saint-Sauveur is a prime downtown location, as it directly connects Rue Saint-Pierre, the city's main shopping street, to Place Saint-Sauveur, one of Caen's historic squares.

Home to a variety of cafés, bookstores, and restaurants, Rue Saint-Sauveur is also extremely close to rue Froide, which hosts independent clothes boutiques and specialised stores including a violin maker and a tea house, with the eclectic mix of businesses on both streets accentuating their attractiveness to consumers.

We will sell second hand women's clothing, shoes, and accessories that we will have sourced from private donors, as well as from flea markets and vintage fairs.

We will select and sort the pieces before marketing them, offering top-of-the-range brands and unique, one-of-a-kind items to our customers in a sustainable and ethically responsible way.

Our company, directed by Alicia C., will be a limited company with a share capital of €5,000.

Since Alicia has over 10 years of experience working in the fashion industry, she has the ideal profile for running a successful thrift shop. With an address book filled with the contact details of vintage clothes dealers and acquaintances working for major fashion brands, she has access to a variety of premium garments.

Market Overview

Domestic Market

Fashion in France

Companies in the fashion industry generated a total turnover of €150 billion in 2018, with exports accounting for €33 billion of this amount.

This turnover constitutes 2.7% of the French GDP and about 1 million jobs in France.

Clothing alone generated €67 billion in 2018, representing a majority of the turnover.

The clothing market

The second hand clothes market (in-store and online) in France is estimated to be worth around €1 billion, with about 13,000 second hand clothing shops throughout the country.

A study by the American site ThredUp estimates that the second hand clothes market within the US will surpass the fast fashion market by 2028.

Between 2010 and 2018, according to the Institut Français de la Mode (IFM), 30% of French people were believed to have bought second hand clothes. By 2018, 64% of consumers said they would be inclined to buy second hand.

It appears that consumers don't feel quite as guilty making frivolous clothes purchases when they cost less than 70% of the price of a brand new top or pair of trousers.

Local Market

Caen residents

According to INSEE figures, Caen had a population of 105,453 in 2016.

Women aged between 15 and 59 years old, who are our core target, make up about 20% of the local population.

Caen is also a student and tourist city, enabling us to rely not only on Caen locals, but also on tourists passing through or students on the lookout for cheap vintage threads.

Caen city centre has a high concentration of clothes shops and several thrift shops.

A majority of the vintage and thrift shops are grouped together in the Rue de Bras and Saint-Sauveur circuit, giving anyone on the lookout for second hand clothes a reason to prioritise this shopping street other than others.

The city is easily accessible via bus and tram, as well as the Caen ring road, which connects the city centre to other surrounding towns, including Mondeville and Hérouville Saint-Clair.

Financial Highlights

We expect to achieve a turnover of €142,070 in our first year of business.

Thereafter, we expect to reach a turnover of €148,140 in year 2 (or 4.27% of growth) and €156,550 in year 3 (or 5.68% of growth).

This growth will be driven by word-of-mouth and the implementation of customer loyalty actions described in our marketing plan.

We expect to achieve a positive EBITDA in the first year of €658 (or 0.46% of margin), but the high level of depreciation and amortization will lead us to recognize a loss.

For Year 2, we expect EBITDA of €3,200 (or 2.16% of margin) and net income of €1,397 (or 0.94% of sales).

In Year 3, EBITDA is expected to be €6,703 (or 4.28% of margin) and our net income will be €4,770 (or 3.05% of sales).

Our cash generation is expected to be positive over the plan as a whole, and the company is adequately capitalized to meet its financial commitments, while maintaining sufficient liquidity to meet any contingencies.

Our Ask

We need initial funding of €40,000 for the opening of La Chineuse Caennaise. The founder has invested €25,000, equating to 62.6% of the total amount.

We would like to obtain a bank loan of €15,000 to complete our financing requirement.

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Thrift Shop Business Plan Template FAQ

What is a thrift shop business plan and do I need one?

A thrift shop business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

  • A written part that presents, in detail, your thrift shop business, the team, your strategy, and your medium-term objectives.
  • A financial forecast that highlights the expected profitability of the thrift shop and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a thrift shop, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your thrift shop.

How do I write a business plan for a thrift shop and is it difficult?

Writing a thrift shop business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

  • You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
  • You may encounter writer's block (especially if it's the first time you're writing a business plan for your thrift shop)
  • You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
  • You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
  • Any updates to your thrift shop business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and thrift shop business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

What is the budget for a thrift shop and how much does it cost to get started?

The budget to start and run a thrift shop will depend on the exact concept and location.

A small thrift shop selling a limited range of clothing for example only dresses requires a limited investment. A bigger place selling a range of clothing, shoes and accessories from high-end brands will require a larger upfront investment and more staff to operate.

A thrift shop located in a trendy and vibrant arts district might have higher startup costs due to the elevated real estate prices in such prime locations. However, the potential customer base of young, fashion-forward individuals seeking unique and vintage items could lead to higher sales and quicker revenue generation, making the investment worthwhile.

As an example, in our thrift shop business plan template the total initial funding requirement amounted to €40,000 (c. $42,800 or £35,000), with the founders contributing €25,000 (c. $26,750 or £21,550).

In order to assess the exact budget for your thrift shop idea, you need to do a financial forecast using a financial projection tool such as the one we offer.

Is The Business Plan Shop the best thrift shop business plan template for me?

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

  • Access to one of the best business plan software on the market
  • Access to our thrift shop business plan template which contains a complete example of a written business plan and financial forecast to start a thrift shop
  • Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
  • Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

But you shouldn't take our word for it: try our solution for free and make your own opinion!

How does the free trial of The Business Plan Shop work?

The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.

Some features are limited during the free trial, the main limits are:

  • You can only create one business plan
  • The financials of the first year are visible, but data for other years are hidden
  • You can export your plan in PDF but not in Word or CSV
  • No access to our business plan templates

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How much does The Business Plan Shop’s thrift shop business plan template cost?

Access to our template is included with all our paid subscriptions.

Please visit our pricing page to learn about this in more detail.

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