Reselling Items for Profit: How to Find Inexpensive Items and Sell Them for a Profit

 Reselling Items for Profit

introduction

 is often said that one person's "trash" can be another person's "treasure". So, how can you turn those items into cash?

 The resale market is no longer simply for thrifters and vintage aficionados. It has evolved into an arena of secondhand Gucci handbags, limited edition sneakers, and cost-effective wardrobe upgrades from various brands. This is due to the environmental and financial benefits of buying secondhand, allowing for more trends to be tried out without overspending or squandering.

Research from online resale site ThredUp suggests that the secondhand market is predicted to grow even larger than fast fashion in the next decade. This is evident from the 64% of women who are now open to buying secondhand items, a jump from the 45% recorded in 2016. Furthermore, resale shoppers are from a diverse range of incomes and ages.

Reselling is a great way to make money in your spare time. These days, there are a variety of goods available for resale, both online and in-person. You could earn thousands of dollars per month as a reseller. It's one of the best side hustles out there, so let's explore how to get started.

What does it mean to resell?

The resale business model involves buying items and then selling them at a higher price to customers through an online platform like eBay, an online storefront like Shopify, or a brick-and-mortar store. Essentially, reselling is "selling something again". This is an ideal business opportunity for those who don't have the time or resources to create their own merchandise, but can identify items of value that are available for sale, including their own used items.

How much can you make by becoming a reseller?

The amount of money you can make from reselling depends on the items you choose to sell, how you resell them and the effort you put in. For individuals, the average annual revenue per worker from a used merchandise store is $120,000. However, those using an online platform such as eBay, Poshmark or TheRealReal can vary greatly, with some users making a six-figure sum and others making a little extra each month. 

When selecting items to resell, you need to consider how much you can earn. For example, ThredUp estimates that you will earn around $0.55 for a pair of Old Navy jeans, whereas a used Gucci handbag could lead to a payout of $286.84. 

The positive aspect of reselling is that it allows you to choose how much effort, money and time you invest in growing your business, making it ideal for all types of lifestyles and financial goals. Whether you are sourcing items from Craigslist or selling items from your closet, you can maximize your earnings with the right items.

How do you start a reselling business?

Beginning a reselling business requires selecting the items to be sold and where they will be sourced. Opportunities to acquire items could include yard sales, estate sales, Craigslist, thrift stores such as GoodWill, sample sales, surprise sales, discounted events, and retailers like Nordstrom Rack and TJMaxx. Dropshipping from overseas retailers like AliExpress is another option. Additionally, one may source items from their own closet, basement, or storage locker without investing any money.  

 Choose where you’re going to resell your items

The platform used to resell the items should be chosen based on the items being sold. For example, high-end designer handbags could be sold on TheRealReal, while used furniture from Craigslist may be best sold in a brick-and-mortar antique store.

Research the platform to analyze what items are selling well

. Examine the top sellers and take note of the brands that are moving quickly and fetching good prices. Also look into pricing to determine what you should charge. 

Pro tip: have expertise in the items you wish to sell.

 For example, if you are knowledgeable about designer denim, it will be easier to spot good deals on jeans to resell. You can also select items that offer the highest profit margin and learn more about them. For example, look into the lucrative sneaker market, researching brands that have high value on eBay and finding out when new styles are released and where they will be sold.

 Reselling Items for Profit

Ten excellent items to buy and resell

 include brand-name clothes, shoes, handbags, books, toys, trading cards, vintage action figures, Barbies, Beanie Babies, and American Girl Dolls. Popular clothing brands such as Madewell, Kate Spade, and True Religion can be resold via apps like Poshmark or ThredUp. Limited-edition sneakers from brands like Adidas and Nike are best sold on eBay. Designer bags from Chanel, Gucci, and Prada should be sold on TheRealReal, and designer shoes from Christian Louboutin on the same platform. Books can be resold online at Amazon or at a local used bookstore, and Bookscouter is a great tool for selling old books. Toys like trading cards, vintage action figures and Barbies, Beanie Babies, and American Girl Dolls can all be bought and resold.

Vintage electronics, such as cameras, record players, and audio equipment, can be extremely profitable when sold on eBay or Amazon. You might even find them for pocket change at garage sales and resell them for a high return. Video games and consoles from the '80s and '90s can also be sold at a good price on eBay, Amazon, or at a local used electronics store. Furniture made of solid wood, even if it's in poor condition, can be found on sites like 1stdibs or at antique stores, and may be able to be restored and resold at a profit. Estate sales, Craigslist, and antique stores are all great places to look for antiques like jewelry, china, and decorative items that can be resold for a profit.

conclusion

Reselling can be an enjoyable side hustle that fits any objectives. Begin with something that you are passionate about or simply sell items you no longer require. With commitment, research, and strategy, it's possible to make your reselling business a full-time job. As you expand, you could increase your offerings or change them to fit the changing market. Great customer service is essential for running a successful reselling business. Whether it's snowboards, sneakers, or side tables, keep going and enjoy the journey as you seek to make money through reselling.