Flexible and fun – Business Idea Prompt (BIP)

I’m particularly excited about BIPs like the one highlighted today, Garage Sale Professional, that require very little start-up costs, are flexible and can be full or part time, and do not require extensive skills or experience to succeed.

I hope you enjoy this BIP and you are inspired to explore your own possibilities!

Please see the Business Idea page for detailed information about my Business Idea Prompt (BIP) posts!

Business Idea Prompt (BIP) – Garage Sale Professional

Details – Purchase and sell bargain items as a ‘yard/garage sale professional’. Items to sell can be found by attending auctions, sales, and consignment or thrift stores then reselling the items for a profit, but instead of just a one time summer event, it can be done every weekend or a few times a month. Most people have unwanted items in their home right now that could easily kick off the selling process and grow as quickly or slowly as you wish! Typically, all sorts of bargains can be found easily and with a bit of cleanup or repair the item can be sold to make a profit. Some entrepreneurs have similar online stores on eBay and amazon and make a profit every single day.

I have a neighbor that holds a ‘yard/garage’ sale almost every weekend in the spring, summer and fall with items she buys at a bargain price and then turns around and sells them for a profit. She and her husband visit discount shops and auctions within a few hours of their home in the winter and early spring or as often as she can to buy and stock up on items. The couple cleans the items or repairs, if needed, and sometimes they find a unique new use; she has made old pans into pretty planting pots, etc. This business is not only a way to earn extra income, but also a fun way to enjoy the hunt of a good deal and the weekend travels. There is no listing fee to pay and she can negotiate a price at any given moment in person. If you are a crafty person, include some of your handmade items for sale!

Experience/Skills Needed – You will need transportation or a way to purchase discounted and bargain items and clean them or basic skills to repair items (if needed). Be a bargain finder, deal maker, professional and friendly with sellers and customers. Decide if you accept only cash or offer a credit card payment option (using your tablet or smartphone, etc.), be available to travel around to find bargains, knowledge of items that will re-sale and are in demand. And you may need access to a storage area, basement or garage for all the items you purchase and may need to fix or clean. General record keeping skills are beneficial; keep an electronic or paper notebook record of each item and the cost and what you sold it for, so you can see your profit in ‘writing’ and what items are the best profit makers.

Marketing – Posts signs in your own yard all season and post them in the surrounding neighborhood(s) right before a sale, place sale ads in local papers or online and encourage all customers to come back often since new items are always added. Give each customer a flyer of sell dates or a business card with general hours, address, etc. Share your sale dates on social media and with family and friends. Leave business cards and sale date flyers at local businesses, hardware stores, libraries, post offices and on other community boards. You may want to include a website on the cards and flyers; an electronic newsletter or web page with updates for customers to subscribe to. Place a magnet decal on your vehicle with contact information. Wear shirts and/or hats with website or other helpful advertising information. Be open to taking requests from customers such as; “if you see this particular item, please buy it”. If you purchase a group of items and they will ship well, list them on an auction or online selling site as additional income opportunity.

Research – The only research that may be needed is to find an average price for most items. Of course this can be based on your cost and the profit you need/want to make, but a general guideline could be useful to ensure the sell. If you purchase an antique, looking up the value and average retail price would be helpful (if possible do this before you purchase the item via tablet or cell phone).

Bonus idea – This BIP could easily grow into a larger business. Expanding this to online auctions sites or Etsy (or similar) could be niche markets if you find a particular item selling well and if it would be easy to find more and easy to ship, etc.

There are a few expansion options with this BIP and small start up costs! Please share any tips, ideas, and success stories!

As with any business please check local and state guidelines to see what licenses, name registering, and other requirements may be needed before starting your business.

July2015-Trulia-7-Ideas-for-Starting-an-Annual-Neighborhood-Yard-Sale-sign-on-tree

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5 thoughts on “Flexible and fun – Business Idea Prompt (BIP)

  1. Pingback: Business Idea Prompt (BIP) – Event fun! | success encourager

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