Consignment shops, thrift stores and flea market booths are a terrific way to make extra income. In fact, for many, they can be a good source of constant income. All it takes is a little effort, fair prices, and a product that the world will embrace.
My father has a video game business at the local flea market. He sales both new and used video games. He only operates three days a week but on a good day can make up to three hundred dollars. With this type of income, he can live comfortably from one week to the next and doesn’t have to pick up another job.
My husband also has a flea market booth. He isn’t as serious about it as my father is and as a result, he doesn’t make quiet as much money. Basically, my husband sales second-hand and previously used items. He makes a little bit of spending cash from things that we considered to be junk.
First things first, you need to decide what it is you want to sale. It is amazing how many simple things that you can find laying around the house. Gently used clothes and household items are usually quick to be sold. Toys and stuff that kids love also sale pretty quickly.
Internet shopping can also be a great way to get products to sale. Put bids in at places like E-bay where you can get items to resale. You can also find sites that offer community sales and great deals on things that you wouldn’t generally find in your area. Find bargains by going to yard sales at the end of the day. Most people are willing to give you a good deal on whatever they have left just to get it out of their way.
Another good way to get products is to hit seasonal sales at local stores. After holidays are over, items go onto the clearance shelf. You can get discounted items and then resale them pretty cheap but still make a good profit off of them. You can even put the items up and sale them closer to their perspective times to ensure that you will make a little extra off of them.
The key to sales is to advertise. If you want people to know that you are in business, then you need to put yourself out there. You can so this by making flyers, business cards, or even giving your shop a name. Placing an ad in your local paper or on your community channel can also make a big difference in how advertising and marketing your products.
You can price things a little higher than what you are really asking for it. This way, you have room to haggle. People like to feel like they are getting a bargain. If you take a few cents or dollars off of the price that you have posted, customers will feel like your prices are fair, and may be more willing to return and give you their business again.
Offer sales occasionally. If items are starting to pile up, make offers people can’t refuse. Try bag sales. Let them have anything they can stuff in a bag for a dollar or two. This is a deal most people find difficult to pass up. If you have stuff that is just gathering dust, slash the price on it and see if that helps it move any better.
Remember that any amount over a few hundred dollars is considered reportable income to the government. Make sure that your bases are covered and contact the IRS for any details concerning your business. Keep it legal by obtaining a tax number or other proper information you will need to sale your things.
The last thing to remember is to have fun with it. You do not have to think of it as a job so much as extra money. How much time you put in it does matter when it comes to whether or not you plan to retire off the income but you don’t have to kill yourself for a few extra dollars. Relax and see what happens. It is possible that you will be delighted with the results!