Ever thought about flipping everyday items for profit? It’s actually a great side hustle that can earn you some extra cash while having fun at the same time!
A prime example of this is Sophie Amoruso, the founder of Nasty Gal. Amoruso started her side hustle by selling vintage clothing on eBay, and within a few years, she built her small online store into a multimillion-dollar business.
The concept of flipping items is simple: buy something for a low price and then sell it for a higher price, usually after adding value through some repairs, cleaning, or presentation.
With the rise of e-commerce platforms like eBay, Amazon, and Etsy, it has become easier than ever to find and sell items online. From thrift stores to garage sales, you can find a treasure trove of items that have the potential to be flipped for a profit.
Not only can flipping items generate some extra income, but it can also be a fun and rewarding hobby. Finding unique items and figuring out how to improve their value can be an exciting challenge. Plus, it can be a sustainable way to shop, as you are giving new life to items that might have ended up in a landfill otherwise.
In this article, we will explore the world of flipping everyday items for profit and provide some tips and tricks to get started. We will also look at some success stories and see how flipping items helped our side hustlers achieve financial stability and even build successful businesses.
This week’s newsletter brings you:
- Trends. Can you really make money selling second-hand items? We bring you all the data.
- Strategies. Learn where to go to flip the items you find, the best places to find new inventory to sell, and how to create a product listing that will land you sales.
- Tool of the Week. CamelCamelCamel is a FREE price-tracking website that helps you track the price of products on Amazon! Perfect for side hustlers looking for a bargain item to resell.
Trends
Can you really make money by selling second-hand goods for a profit? Oh yes you can, and we’ve got the hard data to prove it. Check it out below!
Secondhand: A global phenomenon
According to the data gathered by ThredUp, the global secondhand apparel market will grow 3X faster than the global apparel market overall.
In fact, it’s becoming something of a phenomenon and is expected to grow by 127% by 2026. Secondhand saw record growth in 2021, particularly in the United States, where it grew by 32%. This trend isn’t going anywhere soon.
Where shoppers plan to spend more in the next 5 years
Secondhand is holding on to more shoppers than any other category, with 81% of first-time thrifters planning to spend the same amount or more on secondhand in the next 5 years.
Meaning the conditions are ripe for starting a thrifting side hustle!
Strategies
Let’s trade in the data for strategies, as we take a closer look at this side hustle opportunity.
A closer look at this profitable side hustle
Flipping everyday items for profit can be a great side hustle for a variety of reasons. Not only can it earn you extra cash, but it can also be a fun and rewarding activity. On top of that, flipping items can be a sustainable way to shop, as it gives new life to items that might have otherwise ended up in a landfill.
The best part of flipping items is the potential to make some extra cash. You can buy things at a low price, fix them up, and then sell them for a higher price. It’s a great way to supplement your income and reach your financial goals.
Flipping items can also be a really rewarding hobby. You get to be creative and find unique items that you might not have discovered otherwise. It’s exciting to see how you can improve an item’s value and make it something special.
How to get started flipping for profit
Once you’ve found some items to flip, it’s important to add value to them to increase their resale price. This can involve cleaning, repairing, or improving the presentation of the item. For example, if you find a piece of furniture that needs some TLC, you can sand it down and refinish it for a fresh new look. Or if you find a vintage clothing item with a small tear, you can easily sew it up to make it look like new again.
There are six basic steps to flipping an item, whether digital or physical:
- Find items to sell: It’s easy to find items to flip by browsing thrift stores, yard or garage sales, junk shops, auctions, flea markets, online marketplaces, or finding stuff around your house that needs to be decluttered.
- Restore items to their former glory: Although this step may not be necessary for all items you want to flip, in general, you want to make sure the item is in good condition.
- Take photos of the item you want to flip: It doesn’t need to be a fancy camera or equipment, but make sure the items look great with good lighting and a good background. Make sure to include things like branding, tags, labels, imperfections and other crucial details in your photos.
- List your items for sale: To maximize your chances of selling fast and for the most amount of money, you need to know which marketplace will offer the best deal. Flipping clothes, for instance, would be a good choice on Poshmark, ThredUp, or Treadsy, whereas flipping electronics might be a good choice on Decluttr, OfferUp, or eBay. Additionally, you might want to consider listing your item on multiple platforms. Make sure the items you wish to sell are well described.
- Sell the items and ship them out: Depending on where you are selling your items, you may have to ship them yourself or have the marketplace do it for you. Include shipping costs in your overall fees. You can either include shipping costs in the price of the goods or separate them and charge them separately. It is usually better to include the cost of shipping into the overall price and state (free shipping).
- Rinse and repeat: At this point, you become a serial flipper who can do this as a side job or full-time. It takes practice to become a master, so do as many flips as you can.
Offline places to find pre-loved goods to flip
A fun fact about flipping items: You don’t need any money to start.
Instead, use the stuff that you have laying around collecting dust!
You can easily find free items in online marketplaces dedicating to people posting their own stuff, like Facebook Marketplace, Craigslist’s Free section, and Freecycle.You can also find free items to flip by digging through curbside garbage, junkyards, and dumpster diving if you don’t mind getting dirty.
You can even ask friends and family if they have any items they no longer need. You’d be surprised how many people will offload their “junk” for free just to get it out of the way.
Besides finding free items for flipping, you can also look for bargains elsewhere, such as:
Garage Sales
If you are looking to pick up your neighbor’s “junk,” garage (and yard) sales are a great option. However, sacrificing your weekends for garage sales may be a requirement.
A garage sale is a great place to find a variety of items. There are plenty of items for your flipping business, from furniture and clothing to vintage trinkets and more. You can maximize your profits by selling items at a garage sale for a relatively low price.
Thrift Shops
Visiting thrift shops is a great way to find clearance and sale items. A penny on the dollar can get you some really high-value items. There are people who shop at thrift stores twice a week, selecting only items on sale or clearance and then consigning them at local consignment shops. By doing this, they can earn around $500 a month.
Auctions
No, we’re not referring to fancy art auctions. Auctions are a good place to find cheap items like cars, heavy machinery, and even houses in need of a makeover! It’s possible to find some real gems right in your local area if you know where to look and what to look for.
Don’t forget to come prepared and ready to bid. Fast-moving items tend to sell out quickly.
Estate Sales
It’s common for homeowners to hold estate sales when they are moving or following the death of a loved one. Even though it may sound grim, the items would have otherwise been donated or disposed of. There is no harm in taking a look.
Estate sales are sales at which most (if not all) of the items inside the home are available for sale. Although garage sale prices might not be available, bargaining is usually acceptable, since the sellers want to get rid of their items as quickly as they can.
Resources:
The Best Things to Flip for Cash Online or in Person
Platforms for selling pre-loved goods
Now that you’ve got your goods, where are you going to sell them? You have a wide variety of options. Some sites charge a fee, while others are free. Here are some places where you can resell items for profit:
- Facebook Marketplace: Facebook Marketplace is the first site on the list, which is completely free to use and sell your flipped goods. You will only be charged for Boosts, which are intended to increase your listing’s views and reach. For your item to succeed on Facebook, you may need to invest in a couple of boosts, which cost a few dollars.
- eBay: Among the sites that charge fees are eBay. There are different requirements for different items in their policy, so it can be a little complex. Be sure to read it carefully before you become a seller so there are no surprises or misunderstandings. If you wish to allow buyers to bid on your item, you can list it as an auction item or as a single price. For sellers who want to see how much they can get for an item, this is a great option, but it can backfire by resulting in a lower sale price.
- Poshmark: While Poshmark is intended more as a platform for vintage items and clothing, you can still post about a lot of other stuff. The site has even been used by others to operate boutiques. For items under $15, Poshmark takes a cut of $2.95 and for items over $15, they take a cut of 20%. Yet, many people turn to the platform when they want to find unique, vintage, or designer items.
- Etsy: The Etsy platform has become a worldwide phenomenon, allowing artists, creatives, and flippers to share their work. Before writing a detailed description of the item, a lengthy form must be filled out. A 6.5% transaction fee is added to each item listed and renewed on Esty.
- Decluttr: Selling old tech, electronics, games, and more is easy with Decluttr. It is easy to get rid of old devices when you use this method of selling. It requires little to no expertise in the tech field. To get a quote, simply fill out the make, model, and condition of the device. Decluttr will provide you with a free shipping label once you accept the amount (which is 33% more than other tech refurbishers).
Resources:
10 FAQs About Flipping Your Items for Profit
Tips for creating great product listings
Creating great product listings is essential for successfully selling your pre-loved items online. Here are some tips for creating effective product listings that will attract potential buyers:
Use high-quality photos
The photos of your items are the first thing potential buyers will see, so it’s important to use high-quality images that show the item in its best light. Take photos from different angles, and make sure the lighting is good. You can even use a photo editing tool to make minor adjustments, such as cropping or adjusting the brightness.
Write a detailed description
A detailed description can help potential buyers understand the item’s condition, size, and any other relevant details. Be honest about any flaws or wear and tear, as this can prevent disputes or negative feedback later on. Also, include any relevant keywords in the description to help your listing appear in search results.
Set a fair price
Setting a fair price is essential for attracting potential buyers. Do some research to see what similar items are selling for, and price your item accordingly. Be open to negotiation, but don’t set the price too high or too low, as this can turn off potential buyers.
Highlight any unique features
If your item has any unique or special features, make sure to highlight them in the listing. This can help it stand out from other similar items, and make it more appealing to potential buyers.
Provide accurate shipping information
Make sure to provide accurate shipping information, including the cost and estimated delivery time. Be transparent about any shipping restrictions or limitations, and make sure to package the item securely to prevent damage during transit.
Be responsive to inquiries
Finally, be responsive to any inquiries or questions potential buyers may have. Respond promptly and professionally, and be willing to provide additional information or photos if needed. This can help build trust and make potential buyers more likely to purchase from you.
Resources:
Best Guide to Creating Great Product Listings
Success stories
Flipping items for profit has been a popular side hustle for many people, but some have taken it to the next level and turned it into a successful business or career. Here are some inspiring success stories of people who have made a living from flipping items:
Rob Stephenson
Rob Stephenson started flipping items as a way to supplement his income, but he quickly realized that it could be a full-time career. He founded Flea Market Flipper, a company that teaches others how to make money flipping items. He also has a YouTube channel with over 350,000 subscribers, where he shares tips and tricks for finding and flipping items.
Melissa Stephenson
Melissa Stephenson, Rob’s wife, also turned flipping into a successful business. She started out flipping items on the side, but she eventually quit her day job and founded her own business, The Flipstress. She specializes in flipping houses and has renovated over 20 properties.
Nathan Morris
Nathan Morris, a member of the band Boyz II Men, has also found success in flipping items. He started out flipping houses, but he eventually moved on to flipping luxury cars. He founded a company called Boyz II Men Motors, which sells high-end cars to clients all over the world.
These success stories show that flipping items can be a great way to start a successful business or career. Not only can it be a lucrative venture, but it can also be a way to pursue your passions and turn them into a career.
Flipping items has also changed the lives of these individuals in many ways. For Rob and Melissa Stephenson, it allowed them to quit their day jobs and pursue their passion full-time. They have more freedom and flexibility in their lives, and they get to do something they love every day. For Nathan Morris, flipping cars has allowed him to pursue a new career path outside of music.
One of the biggest lessons to learn from these success stories is that it takes hard work and dedication to turn flipping items into a successful business. These individuals have put in countless hours of research, networking, and effort to build their businesses. It’s also important to be patient and take risks when necessary. For example, Melissa Stephenson took a leap of faith when she quit her day job to pursue flipping full-time, but it paid off in the end.
Tool of the Week
CamelCamelCamel is a FREE price-tracking website that helps you track the price of products on Amazon. The website offers price history charts for every product on Amazon, allowing you to see how the price has fluctuated over time. This can help you determine if a product is currently priced higher or lower than usual and if it is a good deal or not.
CamelCamelCamel can also send you price drop alerts for products you are interested in. You can set a target price for a product and receive an email or Twitter notification when the price drops to that level. This can be helpful if you are waiting for a specific product to go on sale or want to monitor the price of a product over time.
In addition to price tracking, CamelCamelCamel also offers a browser extension called the Camelizer. The Camelizer allows you to view price history charts directly on Amazon product pages, making it easy to compare prices and decide if a product is worth buying.
