Turning 80 bucks into 500 with Garage Sale Inventory
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Auction Strategists Newsletter
Brought to you by Jenni Hunt
www.jennihunt.com
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In this newsletter:
Inventory Without Spending a Penny!
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Hello ~
Last week I mentioned that I would share an article I wrote years ago about building your inventory without spending any money. This strategy works extremely well if you are selling children’s items and you have little ones at home… if you don’t – keep reading though! At the end of the article, we’ll touch on how you can still use this strategy!
Enjoy!
Jenni
PS. The Summer Toy Guide is available for 2 more weeks! Know what used toys are selling on eBay this summer with the Summer Toy Guide – you get 3 months with the package for just $27!
Learn more here: http://www.mytoyguide.com/summer
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Building Your Inventory Without Spending a Penny!
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Many people use the slow selling season during the summer to shop and build their inventory. This really is a great time to do so… especially if you are selling used items. Yard sales are in full swing and you can get plenty of incredible merchandise for pennies on the dollar by shopping them.
What if I told you that you could get inventory without spending a cent though?
Seriously??
Yep! I have done it! Here is my secret… TRADE. You can actually trade your used clothing or items (that is in decent condition) for trade credit at many consignment stores… allowing you to trade your old items for ‘new’ ones that you know will bring in an ebay profit.
Here are some easy to follow steps to trade successfully:
>>> Step One: Determine what you have to offer…
Clean out your closet and your kids closets… go through everything! Anything that is too small or something that isn’t worn anymore put into a box. If you are trading children’s items, you will want to have one box for each of the following:
1) Boy Fall/Winter
2) Girl Fall/Winter
3) Boy Spring/Summer
4) Boy Spring/Summer
5) Women’s/Adult Clothing
6) Maternity (current)
If you are looking to trade items that aren’t children’s items, it will benefit you to categorize your items as well.
>>> Step Two: Research for a good consignment shop in your area.
I have conducted research in my area and have found that not all consignment shops are the same. I have one shop that I bring my non-name brand items to. They aren’t so picky about what it is I give them (as long as it is clean and decent)… but, their payout isn’t so good ($1-2 an item).
Another shop that I frequent in my neighborhood offers a 45% trade credit for children’s items. This is a better deal. Considering I buy most of my stuff from yard sales for less than a dollar, I am actually making money on my trade!
Here are some things to ask when researching a consignment shop
1) What kinds of items do you take (boys, girls, maternity, toys?)
2) How much is your trade credit?
3) Do you give cash too or just credit?
4) Can I be present when you are inspecting my clothing?
5) How should I prepare my clothing that I am bringing in? (Many ask that you freshly launder and iron your items… and you will get more money for the items if you do!)
6) When do you accept the different seasons? (Many are still taking Spring/Summer clothing – but, not for long. Usually around June/July, they start accepting the Fall/Winter items)
7) Does the trade credit expire? (Very important to know ahead of time!)
8) Do I need an appointment to bring in clothing?
9) Is there a limit to how many items you will accept at one time?
If you aren’t selling children’s items, don’t worry. You might be surprised to discover that there are all sorts of kinds of consignment stores around. My guess is that this is a booming business in this economy – so, do your research before making any assumptions.
In my area I have found shops for antiques, books, furniture and household, womens and mens clothing/shoes/bags/etc… It’s worth knowing what is out there.
>>> Step Three: Get those items ready to trade.
After you know what you have to offer… and you know what stores in the area will take, it’s time to get everything cleaned up to bring in. Then, call your store and set up an appointment!
>>> Step Four: SHOP!
Some stores will offer to payout cash or store credit. Usually they give a higher percentage if you take a store credit. Take the time to shop around to use up your credit. If you sell children’s items – take your MyToyGuide (www.mytoyguide.com) or HuntedTreasure (www.huntedtreasure) lists with you and shop, shop, shop… and don’t spend a penny!
Okay – this sounds great… but, what if you don’t have stuff around your house to trade at a consignment shop?
Here are a few suggestions:
1. Look into freecycle. Google it for your area – it is a network/community where you can get lots of cool stuff for nothing!
2. Post an ad on craigslist asking for items. Remember, these don’t have to be the items that are selling on eBay – the point is to get quality items that AREN’T selling on eBay that you can use to uprgrade with at a consignment store.
3. This will cost a bit – but, yard sales (and even thrift shops) can be a great place to pick up inventory to trade with! Many times I have picked up lower end brands from yard sales for a quarter or a buck… and traded it in for $5-10 store credit at a consignment shop! Sometimes, if you hit yard sales at the end of the day, you’ll even find that the sellers are literally giving away the items that didn’t sell!
If you want to learn more about using yard sales to build your inventory – we are in the middle of a series that teaches just this! Check out previous posts on my blog at: www.jennihunt.com/blog
If you want to know more about what is selling on eBay, my Summer Toy Guide is a great place to learn about used toys. You can learn more here: www.MyToyGuide.com/summer
Next, we will get back into the Garage Sale Plan for Inventory series as we talk about the big shopping day!
See you soon…
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Copyright 2010 Jenni Hunt, www.jennihunt.com
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