People are constantly looking for ways to make money online, and while some are successful, many try and fail. You might be able to make some quick cash by taking up a side gig as a clothing reseller, but is it as easy as it seems? Let’s take a closer look.
The Side Gig As A Clothing Reseller
There are a number of ways you can make money online, but very few of them are as easy or as profitable as buying and selling clothes at thrift stores. You’ll basically need to do the following to get started.
Find A Gem
You’ll need to start by searching for items with high margins at goodwill or other thrift store websites. You can either sell individual items for profit or create dropshippers to sell higher-end brands in larger quantities. Before making any purchases, do your research online to find out the best prices for the items you’re looking for. This information will help you negotiate a better deal when selling your goods.
Sell The Items For Profit
Once you find a good-looking item, it’s time to put your sales skills to the test. Start by setting up a Paypal account and taking payments for the merchandise you’ve found. You’ll need to research the best way to pack and ship the items you’ve purchased, as well as set up customer service policies (like return policies) to ensure you gain and keep good reviews. Make sure to keep all records of your transactions in case you’re audited by tax authorities, and take the necessary steps to maintain your legitimacy as a business.
Make Money With A Margin
Even if you decide to sell items for profit, you can still make money online by taking a margin (interest) on the items. Let’s say you find an item for sale at a thrift store for $100 and decide to sell it for $150. You’ll need to register with a credit card processor (like Stripe or PayPal) and set up a PayPal button on your website. When a customer makes a purchase and clicks the pay with PayPal button, you’ll earn a commission.
Although there are many benefits to buying and selling clothing at thrift stores, there are also a few drawbacks. First, the items are often described as ‘gently used’ or ‘pre-loved’, so your products will need to be in good condition or you’ll end up losing money. Second, there’s a lot of competition, so you’ll need to learn to negotiate and haggle for better prices. Third, it’s not easy to find the good items because people are looking for something new, so you’re competing with a fresh stock of items all the time. Finally, you’ll need to keep an eye out for when the stock is due for re-stocking, because when that happens, the prices can go through the roof.
Although it’s not an easy route to make money, buying and selling clothes at thrift stores can be a quick and easy way to make extra cash. You’ll need to put in the time to learn the ropes and understand the whole process, but if you’re looking for a side gig to make some extra money, buy and selling clothes at thrift stores could be a worthwhile option.