So now that you have decided what items you might want to invest in for reselling, the next thing you need to do is find places where you can source these items. Will you go to Garage Sales? Estate Sales? Thrift Stores? Goodwill?
Where To Source and How?
This will depend on what items you are looking for and how much time you want to spend on sourcing. "Time is money" is what the old saying is. True. Very true. If you are sourcing for hours upon hours and come up with a few items that will net you small/minimal profits, then you might be shortchanging yourself in the long run. Make your time count. If you doing this full-time, then this must be treated like a full-time job. Put in your hours and find things worth it within those hours. It's no surprise that most full-time resellers put in more hours than your average 40 hour work week. The serious ones can put in up to 60-70 hours a week.
My suggestion is to decide how much money you want to spend sourcing, where you want to go and how much time you want to spend doing this? Once you have some goals in mind, you can set out and venture into the Big Bad World of Sourcing!
Garage Sales/Moving Sale
Garage Sales/Moving Sales are a great place to source if there is an abundance of them in your area. You can negotiate or make deals at Garage Sales that you can't do in Goodwill or Thrift Stores. You can also find great treasures that people are willing to sell for good prices.
Estate Sales
Estate Sales can also be a good place to source. Mostly, because they usually have a larger selection of items than Garage Sales. The best thing to do in either of these two types of sales is to go early and see what deals you can find, then find out when the last day of the sale is and go back and rummage through. The last day of a Garage Sale or Estate Sale can be worth it. Sometimes, people at the Garage Sales want to get rid of items and will lower the prices or even give it away. Estate sales also can lower prices on the last day of the sale.
Thrift Stores
Thrift Stores are nice to visit as well due to the consistent incoming of items every week. Our local thrift store usually has nice finds for what we are looking for, although lately they have been raising the prices on things.
Goodwill
Goodwill is a whole other story. We like to go when there are Colored Tag sales since the prices have also been raised significantly at our local Goodwill. Nevertheless, you can still find great items to resell at Goodwill.
Other Options
One place we have found some great items to resell is
Salvation Army. Our local Salvation Army has 50% off clothes every Wednesday and Saturday. This past weekend, they had a 50% off everything sale excluding Furniture. We stocked up on a few items which could prove to be a lucrative haul for us!
Craigslist can be a good place to find items as well. We don't use our local Craigslist much because we don't really see as many deals. We have heard other people in different areas/states that find many great deals on Craigslist. Basically, find what works for you and go for it!
Sourcing is the one thing we enjoy more than anything! I suppose it is because both Jennifer and I enjoy "Treasure Hunting". It is like a new adventure each time we go out and source. All you have to do is have a passion for reselling and you can create your new adventures while sourcing!
So don't be shy or afraid to unlock that large treasure chest and dig in! You never know what you might find!
Please check back for the next part in our "How to Get Started In
Reselling/Picking" blog. We welcome any comments, questions or suggestions.
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