Whether searching for products in real estate sales or refreshing in the aisles of thrift stores, society is fascinated by the concept of “discovery”. With the right method, thrift store flipping (the practice of buying goods from thrift stores for resale) can transform from a hobby to a source of income. No, not every trip will bring a long-lost Picasso, but learning more about thrift store flipping may inspire you to look more carefully next time you go to a local store.
Once you know what to look for in thrift stores, you can better look for products with the greatest potential for price increases. Then, only do a little maintenance and repair when necessary, clean them up and resell them. Guaranteeing profits is impossible, but knowing what to do will increase your chances of earning a dollar or two from hard work.
Here are some quick tips on how to ensure you profit from thrift stores:
Always check online first.
Budget wisely, your smartphone is your best tool. When you go shopping, make sure you have a reliable connection, because the best way to ensure profit is to do a quick search on eBay before buying an item. It can be used as a very reliable barometer of the final price and can provide you with a benchmark. If you are not sure whether an item is collectible, check how many items are on eBay, the average current bid, and any available past sales information. Remember that conditions can make a big difference, so your research should be based on projects with similar conditions
Check the mark.
Not sure if that pottery is valuable? Check the seal somewhere on the piece, find the seal online, and check its correspondence with the resale value. Kovels is just one of many sites that offers a catalog of pottery stamps arranged in shapes and letters. If you have a piece of jewelry, you can usually find a stamp on the back of a button or pendant.
Shop for high-end locations.
High-end areas tend to gather high-end thrift stores, so you may find better quality goods and brand-name goods in these neighborhoods.
Use discount days.
Due to donations, thrift stores often need to rotate inventory. Therefore, many stores have a day or two of discounts here every month to make room for the next batch. For example, my local thrift store has 50% off days throughout the month. The less you pay, the higher the profit after the rollover.
Always make sure that items can be cleaned before they are sold. Exquisite clothing with dry cleaning labels may not be a wise choice-unless it is a high-end designer brand, you will not be able to recover its original costs and money laundering costs. First, check for stains and odors, and then stay away from clothes that need to be cleaned or use a lint-free roller. For household items, look for items that show no signs of wear, and keep in mind that certain materials (such as glass, ceramic, and silver) may need to be slightly polished before being sold. Likewise, always compare your findings with similar products online, because certain materials sell better without sanding.
Consider packaging costs.
Unless you are lucky or can perform repairs and flips, the profit from a thrift store flip may be small. Always consider how packaging costs affect your profits. For example, which boxes you use may be more important than you think. If the packaging you use is larger than your needs and must. Pay attention to transportation. For a flipped business, transportation may be the cost of success or failure.