Is Yard Sale Flipping a Profitable Endeavor?
Suppose you live alone; one income seems sufficient to sustain your lifestyle. But what about the fun money?
No one wants to live paycheck to paycheck, and everyone’s looking for some side hustle to make extra cash. Keep reading to see how you can achieve that with yard sale flipping!
What is Yard Sale Flipping?
Yard sale flipping is like any other business you might come across! You start by purchasing products from yard sales. These could be your standard garage sales or even mover or estate sales.
Mover sales are sales that people often have when they want to sell some goods or furniture before they move houses. You may purchase these goods for a low price and sell them for a certain profit.
You can sell these goods online or physically, but most people tend to sell items online.
Can it be Profitable?
Suppose you are attending a mover’s sale. If you’re the first one there, you have an advantage because you can get the first look at everything available and even make a good impression on the seller, letting them know that you’re interested or that you mean business.
Now the thing with mover’s sales is that families are typically just looking to get rid of their stuff. They might be working within a time crunch, or maybe they have little to no use for certain items or furniture in their new home. In such cases, you can find great products at low prices.
Some high-value items, such as jewelry, may no longer hold the same sentiment they once did. Or maybe these items have painful memories attached to them.
As harsh as it may sound, this can give you an advantage. People may be willing to sell these high-value items for far less than what they purchased them for.
While you may not necessarily want to keep this jewelry for yourself, you can find jewelry buyers online who will be more than happy to take it off your hands!
Next, continuing with mover sales, remember they want to eliminate their products. Yes, they have a certain price attached to the goods but remember that you can always negotiate. What’s the harm in giving it a try?
If no one is willing to buy it, you can get a pretty good deal without settling for a price you would’ve been fine with!
Find a Specialty
Rather than finding general yard sales, try to find a specialty you can research well. Now for you, it could be video games! It’s a great niche to get into. You can find all the missing games in the market, and which have the highest value. Make sure you’re more researched than the seller.
You’re already aware that all sold products, like video games, again have barcodes attached to the packaging. Now a yard sale seller is just considering this as another good they want to eliminate.
For you, however, it could be the next great purchase. You can use technology, even your smartphone, to scan the barcodes and check for the product’s original price or the prices realized online. You can make a greater profit than you expected!
Challenges with Yard Sale Flipping
Now, like any other business, yard sale flipping has its challenges. First, something you need to be aware of is shipping costs.
Now let’s say you’ve purchased a product, and the price you set to sell it online must include the shipping costs. Most people forget to add these costs and greatly reduce the profits than estimated.
Next, sales are not necessarily a passive form of income. You aren’t listing a product, and it is being sold automatically. For every product you sell, you must list it yourself, talk to sellers, negotiate another price, and then deal with couriers to ship the products.
People often underestimate the hassle this side hustle takes and are discouraged.
Lastly, you can’t really make a living from flipping unless you become a well-known seller online and have a constant supply of cheap but quality products.
So, while you get into this, remember that it is just a side hustle and can’t become your main source of income. Of course, there might be exceptions.
You now know the basics of garage sale flipping. While yard sale flippers are constantly finding new methods of making this endeavor profitable, the only way to learn more is to try it yourself. So, is yard sale flipping worthwhile? That’s for you to decide!
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