Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
This is Fred Ball for Zions Bank, speaking on business.
A recent government report estimated that the average cost of raising a child in the United States from birth to age 18 is--are you ready for this?--$160,000! And much of that is spent on clothing. Yet, one Utah company is helping parents drastically reduce these costs by buying and selling "gently used" children's goods. Kid to Kid opened its first store in Sandy in 1992. Since that time, Kid to Kid has grown to 35 franchise stores located in 14 states. Ten of these stores are in Utah, with locations from Ogden to St. George.
Brent and Shauna Sloan founded and developed the Kid to Kid concept. Brent said that if there's one thing you can count on to keep growing, it's kids. What's more, he said, he can count on kids to outgrow their wardrobes, toys and other accessories, faster than you can ever imagine.
Kid to Kid is not a typical second-hand store. They purchase high quality products--like toys, clothing, car seats, strollers, high chairs and cribs--from parents whose families have simply outgrown those items. They only accept things that are clean and in mint condition.
Families save money at Kid to Kid. Something that cost $50 new can usually be purchased at the store for around $12 or less. Families can also make money by selling their outgrown kid stuff back to the store.
The Sloans know that image is the key to building a strong customer base. Unlike traditional second-hand stores, Kid to Kid franchises have a lively, colorful format. The stores look more like the Gap than goodwill. Departments are individualized for boys and girls and clothing is categorized by size and style. And the staff members are trained to be service-oriented, helping customers find exactly what they want.
Brent said if the presentation and marketing are upscale-and if you offer a broad selection-it's amazing how quickly customers overcome their negative perceptions. Add extraordinary service on top of that, and you've got a company with unlimited potential. And that's exactly what I see with Kid to Kid.
For Zions Bank, I'm Fred Ball. I'm speaking on business