Identity

Blue Velvet Exchange is an affordable, curated thrift shop catering to both men and women. We are size-inclusive and offer many brands and styles that appeal to a wide range of customers.

Problem

People are looking for affordable, unique clothing in a secondhand shop that is not overwhelming and in an unorganized state.

Our Solution

Offer a trade program that allows people to trade in their old clothes for store credit (which is easier on their wallet). Provide an atmosphere that is clean, organized, and full of unique finds at affordable prices.

Target Market

The target audience is both men and women from a wide range of ages from 16-45 who are looking to refresh their closet with stylish pieces at accessible prices.

The Competition

Our competition includes big chain thrift stores like Goodwill, Salvation Army, and Savers. Other competitors include local consignment shops and charity shops.

Revenue Streams

We sell directly to customers in-store and for items posted on our Instagram stories. People pay for items on our Instagram via Venmo.

Marketing Activities

We advertise our shop on our social media channels (Instagram and Facebook) and boost ads to targeted audiences. In addition, we advertise on the local radio station, WPKN. We also host events monthly to bring in more customers and we hold promotions like sales, giving out loyalty cards, and selling brand logo tote bags.

Expenses

Store supplies we pay for include paper bags, price tags, price tag fasteners, jewelry bags, and marketing materials. Fixed expenses include rent, utilities, internet, and insurance.

Team and Key Roles

As for right now, this is a one-man team. The Owner, Kara, runs all daily operations Wednesday through Sunday.

Milestones

Blue Velvet Exchange looks forward to continuing to be involved in the thriving, local Black Rock community.