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What is Consignment and How Does it Work?
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Let's break down the fascinating world of consignment, including: the basics of consignment, how agreements work between sellers and consignors, and the benefits and drawbacks of using consignment for buying and selling.
Whether you're an entrepreneur looking to sell your products, a buyer seeking unique finds, or just curious about the process, this episode has something for everyone. Get ready to learn, laugh, and maybe even get inspired to try consignment yourself!
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0:00 - Teaser
0:10 - Intro
0:41 - What is consignment?
1:24 - What do people usually sell on consignment?
2:34 - What percentage do consignment shops take?
3:12 - What is a real-world example of consignment?
5:09 - What are the advantages of consignment for consignors (the suppliers)?
7:02 - What are the advantages of consignment for consignees (the retailers)?
8:14 - What are the disadvantages of consignment for consignors (the suppliers)?
12:44 - What are the disadvantages of consignment for consignees (the retailers)?
14:04 - What are some tips on mitigating consignment pitfalls?
17:04 - What are some emerging trends in the consignment industry?
20:41 - Key takeaways for consignment
21:55 - Outro
Chapters
1. Teaser (00:00:00)
2. Intro (00:00:10)
3. What is consignment? (00:00:41)
4. What do people usually sell on consignment? (00:01:24)
5. What percentage do consignment shops take? (00:02:34)
6. What is a real-world example of consignment? (00:03:12)
7. What are the advantages of consignment for consignors (the suppliers)? (00:05:09)
8. What are the advantages of consignment for consignees (the retailers)? (00:07:02)
9. What are the disadvantages of consignment for consignors (the suppliers)? (00:08:14)
10. What are the disadvantages of consignment for consignees (the retailers)? (00:12:44)
11. What are some tips on mitigating consignment pitfalls? (00:14:04)
12. What are some emerging trends in the consignment industry? (00:17:04)
13. Key takeaways for consignment (00:20:41)
14. Outro (00:21:55)
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