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Rotary USA
Caldwell Rotary Club Consignment Shop
10/1/13
http://www.willinghearts.com/
I visited the Caldwell Club about 9 months ago to make a presentation.
It seems like a “regular 40 member Rotary Club”, But I was struck by the amount of money that they raise for charities. I was particularly intrigued by one of their programs.
They operate a consignment thrift shop called Willing Heart located on Bloomfield Avenue in downtown Caldwell. The store is open 5 days a week.
Barry & I visited it a few weeks ago. We were very impressed when we arrived. The store has about 2,000 sq feet and there were 25-30 people in it when we arrived. Most were shoppers and the balance were store personnel.
People consign their products to the store and get 60% of the proceeds. The prices are set by the consignee and are reduced each week, if they are unsold. The goods are returned or donated at the end of one month. This insures that the store has new and attractively priced product.
They enlist the local Rotaract Club to help them at the end of each month. This is when all unsold merchandise is boxed up and donated to various charities.
Their Income Statement breaks down as follows:
· In a typical year they gross $600,000
· Merchandise costs 60% or $360,000
· Rent is $84,000
· Other Expenses total $75,000
This leaves a NET PROFIT of $80,000 for the club to use for their charitable operations.
The store seems simple to operate. All personnel donate their time. The volunteers come from the Club or the general community. People are pleased to volunteer since it’s interesting and the rewards to the community are substantial.
I want to repeat the fact that this store contributes $80,000 each year to their Club. This may be a worthwhile project for us to investigate for the future.