Thrift stores and secondhand shops are like treasure boxes–if you dig deep enough, you might unearth something truly unique. They are a great place to find slightly used products, such as designer apparel, handbags, furniture, and even appliances, for a fraction of the price.
Of course, you can use the items you will find in thrift stores yourself. But, if you need extra cash, you can go thrift store flipping. Like any other business venture, there is no guarantee that you will profit from flipping on every trip, but knowing how to do it can boost your odds of reselling thrift store items.
What Is Thrift Store Flipping
The term “thrift shop flipping” refers to buying products from thrift stores with the intent of reselling them for a profit. You can sell these things through garage sales, online auctions, and even social media platforms.
Most people associate thrift stores with finding inexpensive, previously-loved items such as clothing, housewares, and furniture for personal use. However, thrift store flippers look at things in a different light. They know they can purchase items in thrift stores and secondhand shops for significantly less than their current market value and resell these items for a profit.
For instance, if they find something of great value but slightly damaged–say, an antique side table with a broken leg, they’d be able to purchase it at a low price, have it refurbished, then sell it at a higher price, and, voila, profit!
Practical Ways To Find Valuable Items To Flip
Thrift store flipping is pretty exciting, as it’s more than just something that can earn you some extra money, it’ll be like you’re treasure hunting! If you’re interested in doing this side hustle yourself, here are some tips on how to find valuable items to flip in a thrift store:
1. Always double-check online.
Using a smartphone is a must if you plan on making money from thrifting. Be sure to have a stable internet connection while out shopping because the best method to guarantee income is to check eBay and other selling sites before buying anything. A good starting point is to research the going rate for common goods.
Check the quantity available on eBay, the average bid, and the item’s sales history to determine if it has any collecting value. Verifying the items’ conditions is crucial before making any decisions. Your treasure find will command a higher price on the market if it is in good condition or is relatively new.
2. Inspect the markings.
You can find many pottery pieces at secondhand stores. Examine the item for markings to determine its authenticity and value. Learn a stamp’s typical secondary market value by looking it up online. Kovels’ is a fantastic website that lists pottery stamps by shapes and letters. Typically, a stamp may also be seen on the clasp or the backside of a pendant on some jewelry.
3. Shop at high-end thrift store locations.
Superior thrift store finds are typically stashed away in more affluent neighborhoods. You can rest assured that you will find only the best brands available in these places.
4. Go shopping on monthly markdown sales.
Secondhand stores get new merchandise regularly because of donations, so it’s in your best interest to shop on days when prices are marked down. It’s worth noting that when flipping items, the lower the initial investment, the higher the potential gain. Consequently, lots of stores would hold a discount event once a month.
Factors To Consider When Thrift Store Flipping
All set for thrift store flipping? Before anything else, you should consider these factors first:
Consider that the item can be cleaned.
As much as possible, choose items that you can clean easily. Consider carefully before making a financial commitment to expensive, dry-clean-only garments. You won’t be able to get a return on your investment unless the item is a designer’s sample or a limited edition.
When flipping clothes, search for scents and stains. Those garments that require more than a simple wash or lint roller should be avoided. With other thrift items, check their condition for any evidence of harsh use. You may need to polish the glass, silver, and ceramics you intend to sell.
Consider the price of packaging.
Thrift store reselling sometimes yields limited profit margins, depending on the sold item. Therefore, you should weigh every expense against the potential savings. Typically, a lot of money can be spent on packaging, so it’s best to be on the lookout for boxes that are a better fit for the dimensions of your items to save on overhead costs.
Consider the cost of shipping.
Shipping costs can make or break your reselling business. Shipping costs will increase proportionally with the size and weight of your items. It would help if you found the most practical and cost-effective delivery solution to maximize your profit. In most cases, shipping costs are often passed on to customers by the sellers. However, remember that the term “free shipping” is an attractive offer for online buyers.
Best Items To Flip
Lastly, you should know what to look for when hunting for the best items to resell in thrift stores. To help you get started with your “hunting trip,” look for these most profitable thrift store flipping items:
1. Branded Clothes
Designer clothing is one of the most accessible and profitable goods to resell. Don’t hesitate to sell any branded items you come across in thrift stores to make a quick and substantial profit.
2. Pyrex and Glassware
With so many people already possessing glasses and Pyrex, you may ask how you can make money out of them. However, these are some of the most popular collector’s items enthusiasts will be more than happy to buy. So, always be on the lookout for these items.
Thrift store treasures, such as pots, pans, and other cookware, are an excellent place to start when thrift store flipping. Remember that these items are easy to flip because they are essential items every household needs. Remember that it is expensive to buy brand-new cookware, so giving your customers a choice to buy quality items at a fraction of the price is truly enticing.
4. Vintage Collectibles
Although vintage electronics like cameras, record players, and typewriters are no longer up-to-date, you may still profit by reselling them and their components. When production stops, specific models and styles become collectibles.
Books are another fantastic item to resell at a thrift store. Some authors have left signed copies of their novels in thrift stores, which avid readers or collectors can purchase.
6. Baskets and Frames
Baskets and frames, particularly those in pristine condition with unusual and detailed designs, are frequently among the most valuable items since they can be marketed to collectors and individuals who place a high value on art.
Don’t be scared to make a humble beginning if you’re interested in learning how to make money by flipping items from thrift stores. Undoubtedly, flipping is a risky endeavor. However, knowing the fundamentals mentioned above, this side hustle can yield higher revenue and lesser risk. If you’re worried about losing a large sum of money, try practicing with a small number of items.
Grab this business opportunity with Haven House Thrift Store.
If you’re interested in starting a small business with minimal capital, thrift store flipping may be one of the most lucrative side hustle you can try. Indeed, you will be successful in this endeavor if you have the patience to explore the aisles of Haven House Thrift Store, one of the most popular thrift stores near Panama City Beach, and the ability to recognize valuable treasure finds. Visit us now and start earning!