Dramatic Increases in Resale Clothing Industry Driving Kid to Kid Franchises
Secondhand Clothing Will Be a $64B Industry By 2024
No matter the state of the economy, Americans will always look to buy high-quality clothes at a fraction of retail prices. It should come as no surprise then that the global resale market is estimated to reach $64 billion by 2024, up from $28 billion this year, according to thredUP and GlobalData Retail’s latest report.
In fact, resale grew 25 times faster than retail overall in 2019, the report notes, adding that interest in resale platforms will continue to grow as shoppers surveyed said they’d spend 44% more on secondhand items in the next 12 months than they did in the past year. Additionally, two out of three surveyed are now open to reselling their clothes for extra cash.
Entrepreneurs can capitalize on this trend by owning a brand that fits perfectly into this niche, Kid to Kid. Our iconic children’s resale clothing franchise is the perfect fit for entrepreneurs seeking a low-cost business opportunity with high margins. Founded in 1992, Kid to Kid has excelled in helping entrepreneurs thrive in a business that makes a real difference in people’s lives and reduces the impact on the environment — all by making shopping resale a dynamic part of mainstream culture in communities across the nation.
For Craig Smith, CFO of Kid to Kid, the report isn’t surprising at all. “I think the recent pandemic has truly shined a light on our stores because in a down economy our systems, both Kid to Kid and Uptown Cheapskate, are needed,” says Smith. “The opportunity to be able to sell your clothing and make money off of assets that are just sitting around, as well as having the opportunity to shop for great clothes at a great price becomes very attractive to those in a down economy. Additionally, before this happened, the resale industry was already on a fast track upward. I think this pandemic will only accelerate that and our brands are in a great position to be of great service to all of the communities we serve.”
What Makes Kid to Kid A Best-Bet Investment?
Our thriving children’s resale clothing franchise not only meets a need, but also proves beneficial as a franchise – no matter the economic climate. Kid to Kid has the perfect business model to meet that need at any time as kids are constantly growing, making it challenging for families to keep up. However, our children’s clothing resale franchise helps parents save big on fashionable clothes at a fraction of the cost.
As a franchise opportunity, the decision to join our dynamic franchise family means that you will never be alone in business. Whether you have retail industry experience or not, our fast-growing children’s resale clothing franchise has designed an industry-leading training and ongoing support platform that will help you thrive in business from your grand opening day and every day afterwards.
Even better, with close to 100 locations across the country, Kid to Kid is an affordable business to own. The initial investment to begin operations of a new Kid to Kid franchise ranges from $300,825 to $488,825 and with SBA financing, franchisees may need to invest as little as 10% of that total in liquid capital. This includes all costs associated with startup, which varies from location to location.
“It’s a very attractive time for Kid to Kid,” says Dave Martell, Director of Franchise Development with Kid to Kid. “We are coming off a record sales year and there are a lot of markets that could really use a Kid to Kid store. We’ll work with you to help you reach your lifestyle goals: whether that’s owning one store that allows you to juggle work and family or creating a multi-store empire that’s a major income generator. The majority of our franchisees didn’t have retail experience before they joined our brand, and our support enables them to master this business. If you are organized, love working with people, and have an entrepreneurial spirit, we can fill in the rest. This is an outstanding business opportunity that really makes sense right now.”