Starting a business from scratch is never easy, but it's definitely possible when you use some discretion and decide which type of business can be most lucrative. Since profit margins are the name of the game, reselling old items can be a great business that you can start with little to no experience. The saying "One man's trash is another man's treasure" isn't just a nice quote, you can really get some great earnings by finding used items and antiques, and selling them to people who can find a great use for these belongings.
Launch your reselling empire by following these words of advice.
The Power of "Junk"
Because consumer products change very quickly and people get rid of lots of junk each year, it's easy to see why people find value in items that are no longer produced. Think about how valuable old automobiles are because those models are no longer created and they're made with materials that have been phased out.
When you shift your mind in this way, you can find out which items can bring you lots of revenue. Once you find some hot sellers, much of the fun lies in looking for the best places to source them. Whether you buy from thrift shops, pawn shops, estate sales, yard sales or auctions, always figure out the going price on the market, when compared to the price you are paying for it.
You will start to see old items as an investment and can start figuring out strategies that bring in profits.
Organize Your Process and Treat it Like a True Business
A lot of resellers make the mistake of treating the junk business casually. Though you're dealing with old items, you need to be organized to get the items from your garage or warehouse to eBay, Amazon, or wherever you're selling.
These businesses grow fast as inventory comes in and out, so make sure you have all the tools needed to store and sort them. A lot of resellers use forklifts to properly arrange their inventory without strain and to prevent breakage. You can get a good forklift for between $15,000 and $30,000, and can also get a forklift rental if you'd rather not make a purchase. If you are renting the forklift, always read the agreement a few times so that you can control the cost and take good care of it.
Your reseller business will be off to a great start with these suggestions.