We’re Flipping Crazy!
And Maybe You Should Be, Too!
I’ve just finished recording a video to go into my Skool community What Really Makes Money about how my good lady makes money flipping items she buys from charity and thrift stores for a profit.
I recorded the video after taking her a cup of tea in her studio and she showed me a few of the items that she had recently sold.
She had made £104 from 8 items which were either given to her for free or she bought cheaply with a total cost of £8.35.
That’s right, she turned £8.35 into £104.
That’s a profit of £95.65, however, there are a few listing and transaction fees to come out of that, so let’s say she has made £80 profit… that’s not bad, is it?
A suitcase which she was given for free sold for £20.
A necklace she bought for £0.50 sold for £7.
A belt she bought for £0.25 sold for £9.
A salt spot she bought for £0.10 sold for £8.
These 8 items were only a few of the things she has sold over the last few months.
It is possible that you can buy items which do not sell quickly (one woman recently shared to social media that she had finally sold a table she had been trying to sell for 13 years!), or do not make a lot of profit, but on the whole, you will find someone who wants to buy what you want.
Any items which don’t make a large profit simply help to pay towards listing fees and payment processing fees.
Location Is Key
The reason why you can make a larger profit on these items that charity shops sell cheaply is that you are putting them in front of a larger audience.
Charity shops are location-specific.
Charity shops rely on donations given to them by locals and when something goes on a shelf it is only seen by those people who pop into the shop.
When an item has been sitting on a shelf for many months it may get moved to another shop in a different town.
You see, there are people who want these items, they just need to find them and you have a far greater chance of those people finding them when you list them online.
Charity shops do not do that.
Some have started, but with a charity having many shops in many different towns and cities, it is near impossible to know what is in each shop.
They would need someone in each shop to have access to their online profiles and list items from their respective shops… which is a lot to ask from people who are often volunteers.
It’s A Win-Win Situation For Everyone!
Some people have complained in the past that it is wrong to buy products from charity shops and then sell them online for a profit.
Some people believe you are doing the charity out of necessary charitable funds.
They talk as if you are stealing from them, but unless you slipped the items into your coat and walked out without paying, you are paying the shop the price THEY set for each item.
The charity shop gets the price they asked for.
If they wanted £20 for a dress they should have priced it at that, but the truth is, they often do and when it doesn’t sell at that price, they lower it to get rid of it.
When stock doesn’t sell and the shop receives new donations, they get a backlog of items and so they need to make shelf space for newer items.
The problem is that any items that were priced high and were not sold is simply down to these two factors:
The right person never saw it because they are not local to the store.
The right person prefers to buy online and have items delivered to their door.
Anyone who buys cheap items from a charity shop or thrift store and then flips them online, they should never feel guilty because they simply paid the price they were asked to pay.
It is basic business.
A bar buys its drinks from a supplier who sells it to them at a cheaper price the bar charges its patrons.
How else would they make a profit if they sold drinks at the price they paid?
Selling pre-loved items bought cheaply from charity shops and thrift stores is a great way to make additional money.
Until next time.
Have a great day.
Andi
PS. Why not come over and check out my Skool community here: What Really Makes Money (formerly The Freedom Skills Academy).
I share numerous off and online methods of making money and give my honest thoughts and opinions.
Sometimes, the best method of making money for you isn’t always the one you think it is.
I specialise in helping people find their 1,000 True Fans and build their freedom income with an Offline Online Hybrid Business.
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