Interview with Philip Morgan, store manager and owner
How did you get involved in this business?
We got involved in the consignment business when my mom was asked to be involved in the purchase of another consignment store. After several months of disagreement between her and her other partners, she and I decided that we would open our own store.
What distinguishes you from other businesses in your category?
The largest difference between us and many other furniture consignment stores is our pricing. We feel that the prices in a lot of stores have risen to near retail pricing on many items, and we hear that from our customers on a daily basis. By keeping our prices lower, most of our consignor’s inventory sells quicker, which keeps our inventory fresh so it is a new shopping experience every time you come in.
What do you like best about your line of work?
There are several things that we enjoy about our line of work. First, by shopping with us you are supporting your local economy. Most of our consignors live locally. Second, through consignment, we save a lot of items from the landfills. Third, a comment we hear a lot is that many of our customers prefer to purchase used, not just for the savings but for the quality of the goods sold.
What is your business’ biggest challenge?
Our biggest challenge is the misconceptions many people have about consignment stores. Consignment is different from thrift or other resale stores, as we engage in a partnership with sellers. We examine the seller’s merchandise and agree to display it in the store. The seller, not the store, owns the item until it is sold. Once an item sells, the store keeps a percentage of the profit and the seller earns the rest. If an item does not sell, it is returned to the seller, or is donated. Also many people are surprised how clean our store and the merchandise inside are. All the items are cleaned when they come into the store. Lastly, not everything in the store is used. We have agreements with many local artists to sell their locally made products, and photography as well as American-made solid aluminum wind chimes that are each hand-assembled in the U.S.
Something people might be surprised to learn about you or your business:
That we are constantly evolving to meet the needs of both our customers and consignors. Our goal is to provide the best shopping experience you can have by providing excellent customer service and a variety of furniture, home decor and goods at incredible prices.
Business: Cherry Knolls Consignment
Address: 4231 S. Buckley Road
Hours: 10 a.m.-6 p.m. Monday through Friday, 10 a.m.-5 p.m. Saturday, noon-4 p.m. Sunday
Founded: 2012
Contact: 720-870-1018, ,
Employees: 2
To suggest a business for us to profile, e-mail dajohnson@denverpost.com.
