Who wouldn’t want to make some extra cash on the side? People can consider making a side hustle out of selling old stuff. Measurable success depends on the time and effort put into this effort, and it’s really not that hard to do.
Gaining profit is possible if the timing is right and the seller has adequate time to spare.
There’s the kicker, though. Most people are entirely wiped out after working all day. Websites used to resell items are quick and painless if someone knows how to navigate them.
Here’s how people can sell unwanted items as a side hustle and make some needed money on the side. People who have enough possessions that are of high value can find this to be a profitable venture.
What Can You Sell as a Side Hustle?
Deciding what to sell at first could be difficult. People should begin by going through closets throughout their homes. The dress that was only worn once probably hides in the back.
There are most likely clothes that have been outgrown that could be resold for some quick cash. There may also be items that didn’t fit that were never returned to the store. Any clothing brand could generate a pretty penny if it’s not overworn or overused.
Children and husbands’ closets are prime real estate in the reselling game. The odds of finding something they won’t miss are highly probable. Parents can buy their kids something shiny if they complain. Cutting them in on the profit is another available option.
Digital devices like phones, tablets, laptops, and televisions can rake in some hard cash. Perhaps there are cell phones
needing upgrades in the household. Maybe the TV needed a higher resolution, or a new video game console was a forgotten Christmas gift. Whatever devices have been improved, their older versions remain valuable.
Things like inexpensive jewelry and coffee mugs might seem like items better off being taken to a thrift store. Smaller-priced things can quickly add up, though. It’s like collecting change in a jar. It starts as a small collection and
grows over time as the change is randomly deposited. Then, exchanging it for cash is rewarding because it adds up quickly.
Buying items that can be resold is an excellent side hustle for someone who loves to shop. Reselling is quite profitable when things are found on sale and sold for market value somewhere else. Electronics like video cameras are good to flip because they have a
higher profit margin. Lower-priced items would offer a return but might take a while to accumulate. Patience would be a virtue in this situation.
Are there any aspiring photographers in the crowd? What about any that once were but gave up on trying or switched career goals?
People can make some money taking pretty photos and
selling them to websites like iStockPhoto and Shutterstock. They use images for advertising purposes and have a gallery for writers to choose from to use in their content.
People that don’t have pictures available can brainstorm some ideas, grab a camera from a local pawn shop and start clicking that shutter. Creative and fun images that could rake in some bucks are likely to develop.
Where to Sell
Some websites are tailored specifically for specific items. Other sites offer a wider array of things. Knowing where to list items is crucial in seeing the most significant return on investment.
Sites like eBay, Craigslist, and Amazon are pretty universal. Users can post and
sell almost anything from gently worn clothing to old lawn mowers.
Random lower-priced things are good to post on these sites if experienced seller-buyer relationships haven’t been established yet. Without any reviews or trust built up, consumers are more likely to buy bigger, more expensive items from proven and trusted sellers.
What about those DVD boxed sets of favorite shows that have become collector’s items? Besides holding onto them for a rainy day if the Wi-Fi goes out, what is the point of keeping them?
Used CDs and movies most likely won’t make the seller rich, but they will add up over time.
Decluttr is the best site for movies and music. Getting rid of media that is no longer used can also be good for the soul. Getting rid of these items just taking up space can make a huge difference and free up an abundance of space.
Pricing clothes to sell is difficult if reselling is something new. Sites like ThredUp sort and price items take a more significant percentage.
These companies even send a prepaid shipping label and a clean-out kit for people to put their clothing in before sending them. In addition, they have style experts who check for quality and authenticity and a payout estimator to give a general idea of what to expect.
Poshmark is ideal for more upscale clothing and jewelry, but it also sells home goods. Certain brands sell quicker than others, like Adidas and Louis Vuitton.
NFL jerseys are a hot-selling item for men. How it works is relatively simple: People start by advertising items on Poshmark’s website. The company sends a prepaid shipping label when the product sells and deducts its fee from the listed price. The seller gets to keep
80 percent profit of sales over $15. Poshmark has a flat-rate fee of $2.95 for anything under $15.
How to Sell
Knowing how to get stuff seen by the people most likely to purchase it is vital. Advertising experts and marketing gurus have no problem getting their products in front of viewers on a large scale. So think about how they get their items to market and how they will appear to viewers.
Sellers should first identify their target audience. For example, what age group or gender will be most likely to want the product? Once this is nailed down, sellers will better understand how to market the product and which sites would probably work best for that specific item.
People should ensure the items are in good condition with a detailed description. The more information the seller can provide, the better the articles will do. Consumers appreciate the extra initiative and timely responses to their inquiries. Taking good photos is also crucial. Sellers might be surprised what some great lighting and a good backdrop can do for retail.
Sellers must build trust with transactions. They can start small and work up to higher-priced items, establishing a foundation of reliability on whatever site is chosen. Buyers will be much more likely to purchase expensive items with good reviews from others.
Most e-commerce sites that stuff is sold through
send paid postage to ship items to them or the buyer with instructions on how to do so. Poshmark is like eBay, where customers get to bid on stuff they want to buy, and sellers can counteroffer. That makes it enjoyable to sell things through them.
When to Sell
Knowing when to post items online that are most likely to sell is key. Something posted too early or too late could get lost in the feed somewhere and not be seen by people when they need it.
Most buyers aren’t in the market for wool coats in June. Sellers should do some research and find
the most popular items people are looking for based on months of the year. This helps people determine what to post and when to gain the most capital.
Invest Earnings
People that sell their items online should save and invest. Perhaps the side gig was needed to pay bills, and that was accomplished. The next step should be an investment account.
Sellers that are passionate about the environment could start doing some sustainable investing. These investments are about putting money into accounts that do good in the world. Awareness of climate change and fighting social injustice are some opportunities that could align with sellers’ goals.
Cryptocurrencies are another way sellers could choose to invest their money. People should not use funds they are not willing to lose. The idea here is investing in something that could
bring in more profit. Crypto could be a fun and profitable investment for some.
Setting up a retirement plan, 401(k), or Roth IRA is an excellent way to save and invest money. People can look into getting an account if they don’t have one through their job. It is imperative to have one of these in place for future success. Money can be taken out of IRAs or 401(k)s upon retirement, so it’s not like kissing money goodbye. Individuals can think of it as an investment for the future.
Go for It
The earnings from selling stuff as a side hustle can be gratifying. Following the tips above will ensure reselling is done properly and people get the most amount of profit they can. In addition, the current economic climate is prompting more individuals to seek extra cash, and beginning a side hustle to clear out closets and reduce clutter is an ideal way to make some bank.By Devin Partida
The Epoch Times Copyright © 2022 The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
