Archive for August, 2012

Starting Out With Little or No Money

It can be done.  Many people do this.  Some people think that they are too good to do this.  I say do what you need to do and reap the profits.  Stop coming up with excuses, and get off the couch and move your ass.  One guy I know goes around during the week (early is the key) on trash days or the evening before and picks up items people throw away.  He takes them home, cleans and repairs them and sells them on Saturdays and Sundays at  local flea markets.  It’s amazing with a little work and drive he gets all his merchandise for free.  All he pays for is his set up fees and gas,  His average sales from April through November each year is $350 on a Sunday.  Saturday average sales are between $175 and $200.  Not bad at all for not purchasing any merchasndise; just picking up trash.  Free merchandise equals free money from items thrown away.

This requires more work on your part, but to start out, this is the perfect way to go with little or no money  What do  you have to lose?  Once you start out like this, you may keep doing it once you see the money you are making.  Scout out and search neighborhoods that are middle to upper class.  They have better items to pick from.  Timing is the key to locating the better deals, which means getting up early and being out there before the trash man arrives.

Please note:  This gentleman is now retired, but he stated that he averaged between $16,000 to $20,000 a year from April through November.  Not bad for no investment.  He also finds valuable items that he sells on Ebay and Craigslist all the time.  you never know what you will find.

Is it time for you to set up your plan and make money?  Anyone can come up with several excuses of why not.  If you are tired of being used by your employer, do something about it today.

Good luck in this cash cow business!

Making Money on the Go

Consider moving around to differnet markets every weekend on a cycle.  This means selling at a market once or twice a month.  This way customers wait and look for you.  Your sales will be better  providing you have the items people want and need.  But if most of your business is service type work, this will not work.  I know a man from Pittsburgh, PA, I will call him Dave, who does this every week.   He sells hats, Du Rags, gloves, socks and seasonal merchandise in season like Halloween decorations, Christmas decorations, etc.  This is how he makes his living.

Back in 2008 he purchased a new high rise Dodge cargo van, the type you can stand in, from his profits.

Your cost is higher in gas, travel and lodging; however, your profits are higher also.  He has been doing the travel circuit for over ten  years and likes it.  As always, stand out with your display, tent, flags and large quantity of merchandise displayed in a neat, clean, organized manner.  Appearance is 80% of the game.  Be professional!  It pays off!

Service Work at Flea Markets — Very Profitable! Free Repeat Business

Consider offering service work at your stand.  There is very little competition and it doubles your profits.  Here are a couple of ideas:

Watch Repairs, Batteries, Watch Bands, Adjustments, Replace watch band springs.

This service is easy to learn.  Average profit is between 500% to 1,000% if you buy correctly and do quality work to gain repeat business.  By word of mouth, your customers will do all the advertisng for you.

Cell Phone Car and Home Chargers.

Average of 500% markup.  Sell your basic chargers for $7.00 each.  Your cost should be between $1.00 and $1.25 each delivered.  Have a portable battery tester.  Show every customer how it works and you will never have a returned charger.  Almost everyone has a cell phone.  Make sure you only sell chargers with IC Chip Protection and explain to the customer how it protects their phone and battery and test it right in front of them.

Note:  I have sold chargers for years and make good money at it.  Cell phone stores sell this charger anywhere from $19.99 to $29.99 each.  You will offer a needed item at a great price plus provide the customer with a service.

BONUS — FOR BOOK BUYERS

Special Note:  On book purchases, contact me directly for sources for car chargers and/or watch supplies and equipment needed.   You can contact me at trwr at comcast dot net  You will need the book to supply me with a special code.

Buying Merchandise Off Season

You will locate more eager sellers willing to make a deal.  Sales are slow during the off season and sellers need cash now.  Talk with them about a better price when purchasing merchandise in quantity.

For example — I purchase Foster Grant sunglasses around Christmas time or early January each year.  These are brand new, not store pulls or damaged junk.  My cost the past two years was $.57 a pair.  I sell them for $5.00 each or two pair for $9.00.  Note — this is a seasonal product that sells from April through September each year.  I average 800 to 1,000 pairs each season.  These are brand name sunglasses, not the so called designer look alikes or junk other vendors sell.

I also offer extra service on sunglasses.  I remove the tags, clean them, make sure there is no damage, collect the money and move on to the next customer.  Try the extra service.  People love it and comment about it all the time and come back to purchase more glasses and then end up purchasing other items I sell.  Service pays!

Important — I have vendors all the time that want me to wholesale Foster Grants to them.  I will never sell to any vendor in Western Pennsylvasnia.  Why you ask?  I am the only vendor in the past 15 years in my area that sells them.  I have no competition in this area.  More profits for me.

Knowledge is Power

Basic information on best weeks to sell at flea markets anywhere — Good Friday before Easter and Black Friday after Thanksgiving.  Eastern states normally run their flea markets from April each year until November or until the first snow — outside markets.

Best weekends for the Eastern states for outdoor markets is April, May and the first two weeks in June weather permitting.  As time goes on during the season, sales drop off.  However, if you do service work, your sales will be better than the average vendor.  Please note, if you do service work, you must stay at the same market in order to build repeat and referral business.  Make sure customers can locate you .  For an example, use a green tent with American flags where you will stand out.  Keep a supply of your business cards which lists the types of service work you do and which includes your phone number..  In addition, you can pass out or post your business card anywhere.  This is free advertising.  Place free ads on Craigslist weekly.

Make it a habit to listen to other people’s conversations.  If you sell car chargers, give them a business card  Also, carry some chargers and a power pack in your car while traveling; but remember to remove them daily when you’re not driving to prevent damage.  Extra sales means more profit for you.

Last, but not least, always talk to people about your business.  It drums up business for you.