One Buck Concept

One Buck Concept: When siblings Jackie Bell, 48, and Wayne Bell, 46, realized high-quality items were no longer readily available to stock their industrial salvage yard, they knew it was time to change gears. So they stuck with the concept of one person’s junk being another’s treasure and opened up a secondhand clothing store.
The Bells placed an ad in the local Classified Flea Market newspaper seeking clothes for 25 cents per item. Their first response was from the family of a woman who had hoped to open her own thrift store and amassed 10,000 pieces of clothing before passing away. The Bells were able to completely stock Reruns for the grand opening in San Francisco with that purchase, but they now buy most of their inventory from a nonprofit organization.
Despite initial plans to offer every clothing item at just $1 each, Jackie admits she yielded to the temptation to raise prices at first: “Once I saw all the great clothes, I took my eyes off the larger picture.” When six months went by and the partners saw sluggish sales, they returned to the original plan. The day signs went up advertising their new buck pricing, they had their highest one-day sales to date.
One Buck Concept [Entrepreneur.com]