Along with every other creative channel people are flexing right now, thrift shopping is turning out to be a bit of a potentially lucrative option for folks who have a bit of time on their hands to go looking. The basic premise is this: thrift shops are physically everywhere and they tend to be where people’s goods end up after being donated. The store uses the revenue to actually support charitable programs, and anyone going in has the opportunity to find something useful at a very low price, which is the key for the Franchise Kicks vlog post discussed below.
Franchise Kicks’ hosts shows effectively how one can find valuable goods in a thrifts store and arbitrage them into a higher value online with auction sites and similar resell platforms. Watching his YouTube video on Vintage Electronic Finds at the Goodwill Store, the process is fairly simple. Look around, find a product in working order and good condition with a price to it, compare that product with what it sells for online using a smart phone. If there is a demand and the item sells for four times it’s worth in a thrift store, consider grabbing it and then reselling it online for a profit.
To make the thrift shop resell strategy work well, one does need to have an online platform account already set up. Second, you need to have a good idea of what your online market really wants. As the video points out in one example, kitchen goods often sell better online in parts versus as a kit, even if you find it still packed and unopened. That’s because people are looking for replacements versus the whole product kit all over again. You’re not going to become a handheld electronics development firm success overnight, but you will likely find a number of regular opportunities with a bit of research first to know what to look for.
Keep in mind that you will need to invest a bit to buy the goods. It’s practically impossible to expect to sell something online and then rush to the Goodwill store to buy it right away. It won’t be there. Third, there is the work of actually selling it online, marketing, paying the online platform transaction fees, and covering the shipping cost to the new buyer. All of these expenses eat into the potential profit you actually receive if it sells, so it’s important to find those items that will truly sell again, cover the costs and actually produce a net gain on your investment.
Don’t be surprised as well that as you go from store to store, you might actually find a few things you want to keep for yourself. It’s natural, and there are, as the video states, “treasures out there.”