Renting space to vendors selling old wrist watches and music CDs from the 1990s won’t make someone a millionaire, but Halyna Ryndych, the owner of an outlet that sells used goods, believes eventually it can bring her closer to that goal.
Her shop, Byuro Nakhodok,
offers shelves or hangers to merchants who sell what they want at a price they
establish – the only condition is the wares must be either handmade or used. E-commerce
outlets also pay for the right to exhibit their products. The business model
currently yields Hr 6,500 in monthly revenue, while net losses occasionally exceed
Hr 20,000.
“The enterprise idea was
inspired by American garage sales, we just decided to organize it in a form of
a shop,” says Ryndych, 29, in an interview with the Kyiv Post.”There
are a lot of talented people around who have no other opportunity to showcase
their handcrafts, as other shops apply unbearable markups.”
She started her business on Shota
Rustaveli Street in Kyiv’s downtown area in April, but had to move to
Kontraktova Ploshcha, a cozy district in Podil, because the building she
occupied was sold. She lost time, money and some second-hand goods suppliers
who lived in the former neighborhood, but managed to retain most of the
customers.
Ryndych says her boyfriend, a
businessman who launched one of the first Internet cafes in Kyiv, is her
financial backer. However, the Kyiv Transport University graduate and former travel
agent says she’s still inspired by the idea of running a business. “I had
to take a break from my previous job and felt like taking the risk,” she said.
“This business is something I have always dreamed about and I believe it
will grow.”
The main challenge is conveying
the idea of selling previously-owned goods to customers because people are
reluctant to anything that is unusual. As a consequence, advertising is the
main cost item along with rent and paying salaries for two shop assistants. Leaflets
distributed on neighboring streets are the most effective. Social media is part
of the advertising strategy – Byuro Nakhodok has 2,300 subscribers on Vkontakte
and 1,200 on Facebook.
To spruce sales, the vendors
are given the option of decorating the shelves themselves. The stock is renewed
every day with a steady supply of toys, clothing, footwear, even Soviet-made
vodka drinking sets. An old cell phone costs as little as Hr 30 here, while an enormous
teddy bear priced at Hr 150 didn’t stay on the shelf longer than a half a day.
One could buy a piece of handmade jewelry for some Hr 15-100, a leather purse
for Hr 390 or an unworn pair of shoes for Hr 600.
“We still have a lot of
our own stuff on sale, friends’ items, who we do not charge yet,” explains
Ryndych. It’s done to create the appearance of abundance and diversity in the
shop.
“In fact, less than half of the
shelves are permanently occupied at the moment,” she added.
Ryndych inspects all the
things that are brought to her shop personally. She doesn’t want something
bought at other places to be sold at higher prices. Moreover, the items should
be vintage, handmade or unique in some way.
Collectors and tourists from
abroad come to Byuro Nakhodok for the rarities and handmade goods, while most
of the locals cross the threshold much more rarely. “One Polish woman came
in recently,” said the shop owner. “She spent at least an hour here
and was worried that she would not have enough money to buy everything she wanted.”
Ryndych currently seeks craftsmen
on web forums who could become her business partners.
Flea markets and sales and exchange
platforms, like Olx.ua, are among Byuro Nakhodok’s competitors. “Competition
should take place, it makes the market better,” said Ryndych, while she
expects her buyers to become her sellers in the future.
People sometimes make
life-changing acquaintances at the shop, said the businesswoman. One day an
artistically looking lady was placing her handmade jewelry on a rented shelf
when a young man dropped by to buy something. They left together and kept returning
the following weeks as a couple.
Kyiv
Post staff writer Olena Gordiienko can be reached at [email protected].
