what do i need to start a thrift store

Fr_Chuck

Please tell us what you mean by "thrift" store.

To me here in TN that is a old run down building selling used clothes and various ideas of junk.

thriftybusiness

I also have this same question. What I mean by a thrift store is a store that donates a percent of my income or not to a charity of some type. I want to accept donations and sell them..

Have you ever heard of Counsel on Aging? They have thrift stores and that is a perfect example of a thrift store to me.

Thanks to all in advance!

Fr_Chuck

You can set up a non profit organization, if it is not set up as a church you will need to get a IRS non profit status approved first.
Smaller Churches are automaticly covered under teh IRS nonprofit rules.

After you have a non profit status, you can take donations and sell them.
There will be rules as to what you can or can't do with the money since you are operating as a non profit.

There are some that buy from groups like the Salvation Army or Goodwill, they buy the clothes on pallet sales, often they get more clothes or the wrong types and they sell them by the pallet full. Also they sell alot of larger items or bulk items at auction at larger centers.

You can accept things, but if you want to make the items a tax deduction for the people giving it, you will have to be tax exempt, not merely donating part of your money to a tax exempt.

There are several groups that have tried this, but I don't beleive they will stand the IRS test for non profit. Not unless the agency specificly lists you and covers you under thier non profit status,