These days, who couldn’t stand to make some cash for bills or for life’s little extra? While there are many side hustles you could start, reselling secondhand items online is one of the cheapest and easiest business ideas around. You might be surprised to find out just how much money some sellers are making each month selling trash for cash.
Resellers make money by buying goods that are usually (but not always) used, secondhand, or bought from a secondhand market to sell for a profit on an online platform such as eBay or Poshmark. Some people are interested in reselling because it extends the life of consumer goods and reduces waste. Other people get into reselling because they know they are good at spotting value in items others might simply discard. Either way, reselling is a great way to make extra money and help the environment at the same time.
Resellers can sell both new and used items, but they almost always get their inventory from their own homes, the thrift store, a yard sale, or a wholesale liquidation company. You can find some great vintage or collectible items at yard sales and estate sales that can turn quite a profit on eBay if you know what to look for.
The best thing about becoming a reseller is that you can get started without investing a penny. While having a few bucks for sourcing, supplies, or tools would certainly help you get started, if you have no money in the bank for this adventure, that’s no problem.
To earn your start-up funds from scratch, simply go through your own belongings at home and sell what you no longer need on one of the simpler platforms, such as Poshmark for clothing or Facebook Marketplace for quick local sales of just about anything. Household items, kitchen gadgets, toys, and tools all sell great on Facebook, and since the sales have a chance to be local, you could have cash in hand instantly. Once you have $100 - $200, then you’re ready to start doing some serious sourcing for your new reselling business, all without ever spending a dime out of pocket.
I was able to start my business with just $4 when I spotted a great deal on some crafting tools at my local thrift store. My hunch paid off, and I sold the items for $80 in less than 24 hours on Facebook Marketplace. Once I had that experience, I was hooked. I sold some things from my garage until I had a grand total of $250, which I used to start sourcing at thrift stores to sell on Poshmark.
Now that you have some funds, it’s time to learn how to source. Since you aren’t yet making consistent sales online, you need to be super frugal with your spending, but that’s not a problem with reselling.
People generally throw away or donate items they no longer need or want. Since not everyone has the time or the desire to become a reseller, they simply try to get rid of their items as fast and cheaply as possible. You’ll find great deals on mid-level and high-end brands at yard sales and in thrift stores for this reason.
Sometimes people throw away perfectly good items as well because they don’t know what else to do with them. I once rescued a pottery kiln from the garbage (it was huge and very heavy), but I suspected that if it worked, it would be worth my effort. I was able to test it and sell it for over $300 with a zero cost of goods.
Don’t forget to ask people for donations. It might take a moment of bravery on your part, but you’ll be surprised at how many people are willing to help you! You can also sell high-end designer items on consignment, which will also allow you to get started without spending money upfront.
Reselling has become very popular in recent years, and that means there is no shortage of online selling platforms. Here are some of the most popular sales platforms, reasons why they are popular, and some examples of what to sell on them.
Check out this blog The Poshmark Bible: How to Get Started Selling on Poshmark
eBay can be intimidating, so we’ve rounded up the Top-Selling Items on eBay in 2023 for you!
Mercari is a lot like eBay in terms of what you can sell, but it has a much simpler listing form and easy-to-understand shipping options. The buyer pool is significantly smaller than eBay’s, but it’s still around 20 million active users.
Interested in selling on Grailed? You might be interested in The Holy Grailed: How to Get Started Selling on Grailed
If you have a big personality and are super outgoing, you can try live selling on Poshmark or on Whatnot. It’s like hosting your very own Home Shopping Networking show.
You might also be interested in: 9 Steps to Start a Reselling Business Online for Profit
Once you get the hang of one or two marketplaces, then it’s time to expand your business. More eyes on your inventory means a higher sell-through rate and more money in your bank account. Use a crosslisting tool like Vendoo to manage your inventory, crosslist to multiple marketplaces, and keep track of sales and analytics.
Sourcing enough inventory to sell as a full-time job will likely include bulk buys at warehouses or liquidation centers. Don’t forget to save some of your profits to reinvest in your business. You might even become successful enough to necessitate hiring a small staff to help you run things.
A software solution like Vendoo can help to make running a business at that level a breeze. You’ll even have access to a CSV download of all your data to help with tax time. You’ll have a hard time convincing your family and friends that you build your business from trash to cash!
Check out 10 Things you Can do with a Vendoo Free Plan!