Those expenses chip away at thrift stores’ profits, and as of 2016, used merchandise retailers made a pretax profit of 3.3 percent – meaning that an average 10-person thrift store might generate only $11,880 in annual profits.
That said, the average annual salary for a thrift shop manager hovers around $52,000.
Is owning a thrift store profitable?
The average profit on thrift stores is pretty low because of all the costs to having a physical location. For-profit thrift stores pay taxes of up to 30% on profits and then owners pay taxes again on their income. You can save a lot of this money by making your thrift store a limited liability corporation (LLC).
How much do thrift store employees make?
Thrift Store Median Hourly Rate by Job
|Assistant Store Manager 13 profiles||$11.99||$10$17|
|Production Supervisor 12 profiles||$12.75||$10$16|
|Production Worker 10 profiles||$9.47||$7$14|
|See all employers for Thrift Store »|
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How do I start my own thrift store?
- Decide if you want to start a thrift store that is a for-profit or not-for-profit business.
- Prepare and file all required documents.
- Choose a location.
- Sketch a basic floor plan and decide what type of merchandise you are going to sell in each area.
- Stock inventory to sell.
- Hire people to staff your thrift store.
Do I need a business license to open a thrift store?
Obtain any required local business permits. Thrift stores and reseller shops do not require specialized licensing from state or federal authorities, but they are subject to the same local permit requirements as all other businesses.