How To Make Money Reselling
There are so many ways to make money on the resale market today that don’t necessarily need you to be a reselling pro or guru. All you have to do is have the items your customers are looking for, and you’re halfway to making some decent profit.
The resale market today carries various items including thrift clothing, antique items, limited collections, second-hand designer clothes and so much more. You’re probably thinking, “Just how do you make money reselling?”
This article will equip you with the tips you need to learn how to make money reselling so you can start your very own successful reselling business. Ready?
Let’s get right into it!
How To Make Money Reselling: Tips for Getting Started
There’s almost always something for resale. All you need to do is find something you’d like to sell and find someone willing to buy it for a little extra money (your selling price).
Reselling is simply selling your own items at an amount lower than the retail price. To do this, you buy goods and sell them again at an increased price through online marketplaces like Facebook Marketplace, eBay, Shopify, etc. If you don’t want to sell online, you can sell items locally by holding garage sales or yard sales.
You can find profitable inventory among items that you no longer have an interest in because one man’s trash is another person’s treasure. You can start your version of retail stores out of your own closet!
That vintage clothing or brand-name clothing that you no longer like can be exactly what someone needs. Other items like vintage furniture, board games, and used cars are all in inventory and in high demand for purchase in the resale business.
Identify What You’re Selling and Where to Source These Items
Before you sign up on any selling platform, identify your preferred sell items with high resale value. This way, your side hustle will not only be what you love to do but will also be a definite way for you to make as much money as you need.
You can find some of the best items for reselling at flea markets, thrift shops like Goodwill, an online platform like Craigslist or Nordstrom, garage sale, Facebook groups, etc. If you’re only looking to make some fast cash, sourcing sell items from your own wardrobe can also work.
Once you’ve identified the best marketplace for your purchase, the next step on the list is identifying where you’d like to sell the items. You can focus on niche products, or focus on products with high market value.
Find the Best Selling Platform for Your items
When reselling items, the platform you choose to sell things can affect your sales and you can use multiple platforms. Top sellers know that you need to be on the right reselling platform to find the right potential buyers. For instance, to sell designer handbags, the TheRealReal website or Etsy should be two of your top choices.
If you’re reselling or flipping furniture that you got off Craigslist, a great place to quickly sell them off would be a store that sells antiques and vintage items.
Research the Selected Platforms for Accuracy
Many sellers dive into reselling side hustle without conducting enough research on the platform and how well the items sell out. It’s best to sign up on the apps or websites you choose.
Most of the platforms provide a free app for users to ease the sign-up process, so sign up there and follow the top sellers to find out what popular brands sell out quickly and learn other tricks of the side hustle. You can also seek the opinion of other sellers if the platform has a community.
To be a high-end or successful reseller, you need to have adequate spare time to focus on your business, so that you can make it a proper side hustle with which you can earn extra cash and boost your personal finance. You can also make it a full-time job.
Sell Something You’re Comfortable With
If you’re new to the reselling business, it’s always a good idea to go for something you’re comfortable selling. Suppose you love sneakers and your sneaker game is always spot on. Then you can choose to be a sneaker reseller. If you have limited-edition sneakers or designer shoes, you can kick off your sneaker business and start making money from selling sneakers or flipping sneakers.
You could also go for items that have a good profit margin and teach yourself how to make the most of it. Finding out the best flea market that would give the best prices and cheap items can help you save money a great deal so that you can buy more inventory and make quick cash even from a one-time purchase.
Best Items to Buy and Sell: Flipping
In the business of flipping items, you may need to get the items back in the best shape before you can put them on the resale market for flipping. For instance, you may need to give some furniture some extra coating of paint/polish or stitch some clothes up neatly to get them into a wearable state. Some items may not even need any rework and you can start making your money right away.
If you’re wondering what the best high-demand flipping items on the resale market are, here are ten of the best ones to start your side hustle.
If you intend to flip antiques for profit, then you must be ready to conduct a lot of research about the items. Antiques can be very valuable if you find out more about the origin of a particular item and are able to find out its specific worth.
Many sellers don’t usually know the true value of their antiques and may cheat themselves when they fix a resale price. Work out the origin of the antique by looking out for things like stamps, markings, or hallmarks on the items. Estate sales are some of the best places to search for antiques and eBay is one of the best places to sell them off.
Finding cheap and resellable furniture is not so difficult. You may even find some items for free or at a very discounted price. You can increase the value and usefulness of the item by giving it a facelift. Refurbish it and extend its longevity so that buyers can see some serious value in it as they plan to make their first purchase from you.
This is another great flipping item that can fetch you some nice profit. Cars cost a lot normally, so your profit margin could be quite high. If you’re thinking about flipping cars for sale, then used car auctions should be your beloved hangout spot.
They are a treasure house for finding good deals, you may even find a highly sought-after priceless classic car.
Reselling sneakers can fetch you a handsome price. You’ll find more tips about sneaker reselling later in the article. Designer sneakers are some of the most popular flipping products and you can sell them off quickly anywhere, even on Facebook Marketplace. Use the high demand to your advantage and rake in more money.
Designer Fashion Items
Just like fashionable sneakers, flipping designer fashion items can get you well on your way to earning six figures before you know it. However, you need consistency to get you there. For this, you don’t need a huge upfront investment to get the business going.
Few dollars will get you the best items in thrift stores or yard sales. Look out for vintage pieces that will fetch you a higher bargain and sell them off on eBay at the right amount to make your money back. Always research an item online to see if they are worth the money.
These never go out of demand and they’re also some of the easiest and cheapest items to flip. Have you got a huge library and wish to flip some books from it? Textbooks, nonfiction, guidebooks, music books, arts, and craft books, are some of the bestsellers. You can find out how much a book is worth via Bookscouter to give you a good idea of how much you can sell the book for or if it’s worth the purchase.
Many people throw out their garden tools, furniture, and accessories because they feel it’s no longer useful. But their trash can become your treasure after you revamp it and give it a good look. Winter is a great time for buying these items cheap and summer is a high-demand time to flip them for quick cash.
Appliances are constantly selling items for flipping. Yard sales, house clearances, etc., are some of the best places to find useful appliances that you can resell quickly. You can add more value to your item if you offer to have it delivered to the buyer. So get shipping supplies.
People always need sports or exercise equipment, and the cheaper it is for them, the faster they would snatch it up. Since you’d get it at a lesser price than a new one, you can resell items like this quickly. Clean it up nicely, and put it up for sale.
These are some of the most expensive clothes but they are also very in demand and can sell for up to 50% of the initial price. If you want to flip wedding dresses, then a good idea would be to buy slightly larger designer dresses, so that the buyer would have some room to get some fitting done.
How To Start Reselling Shoes
You can get started reselling shoes by following these tips:
- Purchase brand/designer shoes as soon as they are released directly from the retailers or manufacturers.
- Some of the best retail stores to search include Adidas, Adidas Confirmed, and SNKRS. The best Aftermarket stores to search include Goat, SneakerCon, and eBay.
- Build your inventory by buying from these stores. Goat store is one of the best for buying and reselling sneakers.
- Almost new or carefully worn shoes can be sold at thrift stores.
- Sell the sneakers that have the highest return on investment and not the most expensive sneakers.
FAQ: How to Make Money Reselling
Here are some questions many people want to know about reselling.
How much money can you make from reselling?
This depends on a lot of factors, including what you resell, how you resell, and where you resell. However, once you get experience, you can earn between $500 – $1500 per month selling.
Is reselling for profit legal?
Yes, it is legal to buy and sell SOME items. It is important to find out which purchase items have legal clauses so that you can avoid them. Some of them include Digital media, recalled items, animals, prescription meds, etc.
What is the best way to deal with shipping costs?
Shipping costs are part of the money issues to consider when you want to start reselling, you should also factor in the costs when you are fixing a selling price except if you prefer your customers to pay for shipping outside your product charges.
Shipping costs are usually calculated based on the weight or size of the item, the destination, and the speed of the carrier vessel. The cheapest domestic shipping option is UPS Ground, but the fastest alternative is UPS or FedEx. The cheapest international shipping option is USPS, but the best and fastest international shipping option is DHL.
Conclusion: Making Money Reselling
If you’re looking for a fast and fun way to make money in your spare time, you should consider reselling or flipping items. From reselling designer items to sneakers, cars, and more, you can boost your personal finance as long as you use the tips we’ve shared to get started.