Most Thrift Stores have a goal. A mission statement you might say. A reason for existing, intended to focus all of their efforts towards a specific outcome. This mission statement is both a guide for your thrifts behavior/actions and a reason for the public to connect with you.
What I find, when talking with many thrifts, is that most are a little psychotic.
Just what do I mean by psychotic? Most thrifts make a statement as to their goal, but then they do something completely different. Let's take a look at some example scenarios:
Scenario One
Mission Statement: "To reduce homelessness and hunger in the city of Springfield".
This is an audacious goal. To execute on this mission means to NOT execute on other behaviors. If for example, you started funding school supplies for third graders at Marvin Elementary - you would NOT be following your mission. It can be quite important for the third graders to have school supplies - but that isn't your mission.
Scenario Two
Mission Statement: "THE ORGANIZATION'S PURPOSE IS TO OPERATE THRIFT STORES TO RAISE FUNDS TO SUPPORT VETERANS, SPOUSES, WIDOWS, AND DEPENDENTS OF VETERANS THROUGH SERVICE PROGRAMS AND THE DISTRIBUTION OF THRIFT STORE GOODS TO SUCH PERSONS IN NEED. ALL BOARD MEMBERS AND OFFICERS CONNECTED WITH OUR ORGANIZATION SERVE IN A VOLUNTEER CAPACITY ONLY." (This is a real mission statement for "KANSAS DISABLED AMERICAN VETERANS THRIFT STORES INC").
An important note here is that this thrifts mission is to support veterans by RAISING FUNDS. If this thrift (for example) started buying food to feed the homeless (unless it were for Veterans, of course) they would not be adhering to their publicly stated mission.
Scenario Three
Mission Statement: "Provide emergency food, clothing, rent, utilities and prescription medicine to Portland, Westmoreland, Bethpage, and Cottentown residents who can show need." (This is a real mission statement for "PORTLAND CARES" based in Tennessee.
The services that Portland Cares provides requires funds. These funds come from donations and sales at the Thrift Store.
I provided these examples simply as food for thought, to jostle your mind. I want you to consider if your Thrift Store is following your mission. The reason I call most Thrift Stores a little psychotic is because you are saying one thing, but doing another. Meaning, you need to raise money to further a specific goal. But, you are pricing things in your store as if your goal is to provide items to the public as cheap as possible. If your goal is to raise money, then every item you sell should be priced to extract as MUCH money as you can from this item. You should be looking at every alternative sales channel and method that you can to turn donated items into the most cash possible.
Without a doubt, pricing is a balancing act. Price items too high and you will not make sales - your store will fill up with unsold inventory. Sell too low, and you will barely make enough money to keep your expenses paid, much less have funds to advance your mission goals. Testing, to see how high you can go, what sells for more, is a way of discovering that sweet spot of pricing. Just don't be afraid to price something higher and find out what happens.
It is time to focus on your mission. To operate with laser-like precision with every move you make at your thrift. Every decision needs to be framed in the context of, "Does this action further our mission, or does it derail our mission?"
Once you start sorting things out with complete willingness to act in a way specific to your mission, decisions become much clearer as to the proper action. This clarity must be part of the decision rationale for every employee, every volunteer, every person in management. Once everyone is on the same page emotionally, with the proper focus, with the unity of how the charity is handled, every step of every day is more clear.
Your customers will appreciate the clarity as well. They want to know that their contributions, purchases, efforts are furthering the goals you have stated. Admittedly, some customers will not like the fact that you are increasing your pricing - and you might indeed find a shift in your customer base.
Your thrift needs to work out the pricing that works for you, according to your demographic market. But don't forget to consider your mission in the context of your pricing model.
(This article originally posted on toplevelthrift.com)