Names: The Psycho Sisters, Angela McLean and Traci Egan.
Nationalities: Both American.
Ages: Angela, 33yrs. Traci not known.
'Foolish' Idea: Seeing discarded clothes as an untapped, off-beat fashion empire.
Start-up Capital: Approx. $2,000
How Idea was Launched: The friends purchased designer outfits and haute couture fashions at yard and garage sales. They opened their first store in a strip mall, with the attention-grabbing, 'Psycho Sisters Consignment Shops'. This store was followed by others.
Sales: Fashionable 'vintage' garments start at $1.99 and go up to $19.99. The stores sell to general public and also attract celebrities.
Earnings: Personal annual incomes are well over $100,000.
Angela McLean was astonished to discover designer outfits and haute couture fashions, being sold for next to nothing at yard and garage sales. It gave her an idea. She formed a partnership with her old college pal, Traci Egan, to open a boutique featuring stylish second-hand clothes. They hadn't decided on a name for their boutique when late one night on a trip to Atlanta they drove through a terrific storm.
Angela commented to Traci, that they must be crazy. Traci agreed and said they were, psycho. They thought it would be a great name and settled on, 'Psycho Sisters Consignment Shops'. They went on a massive buying spree, spending hundreds of hard-earned dollars and ended up with twenty bulging boxes of second-hand clothes.
Angela, who has a degree in advertising, was working as a waitress at the time. She had her first credit card with a limit of one thousand five hundred dollars, which she used for advertising. They opened their first store in a strip mall, because the prices were low.
Today, each of the Psycho Sisters shops sell fashionable vintage garments from $1.99 to $19.99. Each shop is uniquely decorated with giant bumble bees hanging from the ceiling rubbing shoulders with fluffy feather boas. The walls boast Mardi Gras masks. The bold décor is all part of their careful marketing strategy which has paid off dividends.
All the garments they've hand-picked from yard and garage sales, are carefully laundered and repaired, ensuring they are all in top condition. The girls have plans to start their own affordable fashion label. Meanwhile, their shops are attracting celebrities, and Angela and Traci, are enjoying annual incomes of well over $100,000's - all from selling discarded clothes.