Welcome

Like many of us, exposure to the intricacies of antiques may have come from the 10 year old ever popular Antique’s Roadshow aired on PBS. This particular show has generated awareness and heightened America ’s interest in antiques. However, not until you step into an antique store do you get the intoxicating effect of nostalgia.

Antique stores are classified as less than glamorous “used merchandise stores” according to the US Census NAICS code 453310. The 2002 US Economic Census reports that there are 18,207 establishments classified as “used merchandise store.” A further breakdown of the NAICS code reveals that there are 6,032 establishments listed specifically as “antiques, items over 100 years old.”

From connoisseurs to investors, the motivation for purchasing antiques is as varied as the antiques themselves. So who is the typical antique consumer? The Lifestyle Market Analyst identifies 49 years old as the median age of Fine Art/Antique Buyers. Additionally, the household income range for the majority of buyers is $50,000 - $74,999.

The challenge for the antique store owner lies in the inconsistent demand where some items may sell quickly while others remain for months on end. Store overhead rarely justifies selling only antiques year-round and profitability often requires product diversification. It is not uncommon to find antique shops combined with other used merchandise stores.

The lack of consistent sales has also lead to the popularity of online auctions. Selling antiques online also offers other buying opportunities to the vendor. While a potential customer is examining the product online, the vendor can be scouring auctions or flea markets in search of the next great find.

The National Antique & Art Dealers Association of America
Used Merchandise Stores: 2002 from the US Economic Census
Frequently Asked Questions About Antiques and Collectibles
Antique Shops: Business and Industry Profile

Rogak, Angowski Lisa. The Upstart Guide to Owning and Managing an Antiques Business. Upstart Publishing. 1995. pg. 3-11, 16 The Lifestyle Market Analyst. SRDS. ©2002. P. 754.

- Armida Hernandez & Peter C. Morales

Industry Snapshot: Antique Shops

Take a look at our full industry report on antique shops (PDF Format). If you are interested in other industry snapshots, visit our SBDC Business Advisors' Toolkit.

Links of Interest

The Art and Antique Dealers League of America, Inc. is a non-profit organization of dealers

Did You Know?

SBDCNet has established a successful program based on customer service by offering:

5. Research service for SBDC Business Advisors and their clients at no cost

4. Archived Industry Snapshots by searching the Connections E-newsletter found on the website

3. 24/7 email service for submitting research requests

2. A timesaver for busy Business advisors

1. A 7 business day turnaround of researched information

Are You Paying Attention to
Demographic Trends?

According to the U.S. Census latest press release, the percentage of women-owned businesses (in 2002) increased by 20% since 1997. That number now stands at 6.5 million businesses. During that same time period, the growth of business overall was only 10%. Accompanying that increase were the total receipts from women-owned businesses representing 15% or $940.8 billion.

Other interesting statistics from the 2002 Economic Census:

- Women-owned firms employ 7.1 million people

- 7,240 women-owned firms employ 100 or more

- Women-owned firms generate annual gross receipts of $275+ billion

Nearly 33% of women-owned businesses are represented in the following industies:

- Health Care

- Social Assistance

- Personal Services

- Repair and Maintenance

 

Women own nearly 75% of all social assistance businesses and over 50% of all nursing and residential care facilities.

“Wholesale and retail trade accounted for 38.3% of women-owned business revenue.”

Source:
http://www.census.gov/Press-Release/www/releases/archives/business_ownership/006351.html

By. J. Eric Lomeli turnaround of researched information

Contact Us

SBDCNET
UTSA Institute for Economic Development
University of Texas at San Antonio
501 W. Durango Blvd.
San Antonio, TX 78207
http://sbdcnet.org/
sbdcnet@utsa.edu
800.689.1912