BECOME A GARAGE SALE RAT:
In times like these especially,
but even in prosperous times people love to get a bargain. So much so that garage sale slumming has become
a fun weekend pastime after retirement. In fact, the popularity has created a new cottage industry for entrepreneurs
who want to make money. My sister frequents garage sales, and so do we. In fact, she is such an advocate that she swears
she'll never buy anything new again. So, garage sales is a top extra money making idea.
So how do you start?
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1, First, you
need to become the expert on garage sales and how to run them. Host a few of your own garage sales, visit others'
garage sales and observe.
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2. Buy low and sell fair. That's pretty self explanitory but the idea is to
know the market... and what buyers are willing to pay for it. Visit and shop garage sales in your area, get the
best deals on items and sell them. Example: I bought a desk and hutch, dresser and chair that was in need of some
repair and a new coat of paint for $30. I also bought another dresser at a garage sale for $20, put on some
legs that made it sit higher and now use it as a buffet.
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3. What sells and what doesn't?
It may depend on the area you live in. Where you live determines what people are looking for. If you live in a family oriented
area with small children, clothing, toys, cribs etc will be better sellers than walkers. If you want to make money, get to
know your market.
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4. Stay close to home. If you live in a large city or are surrounded by many towns and
communities pick one or two that are close and stick to them. Staying close to your area saves on gas. This expense can
eat into your profits if you are driving all over town to look at garage sales. You will only make money if you keep your
expenses low.
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5. Craigs list can be a good place to sell items. Make sure you put in photos, and make
a good description if you are serious about making extra money.
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6. Retirement life is a good time
to do this money making idea because you have a lot of time, however if you don't want to host your own garage sales, or your
HOA doesn't permit garage sales except once a year, contact friends, neighbors, real estate agents etc and host garage sales
for others. Remember, become an expert first. I've been to garage sales and estate sales where the prices are as high as new
items. Know your products, what they're worth new and price them fairly to be successful. You can also check e-bay for prices.
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ESTATE SALES
If you already live
in a retirement community, chances are you've seen estate sales most every weekend. This is a way to make money for anyone
with a lot of organizational skills. Know the market, Many estate sale companies over-price their items. Knowing what the
best resale prices are will help you help others get rid of furniture, clothing, art and more for a percentage of the sales.
The typical commission or compensation is around 30%.
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HOME STAGING
Although there are decorating/design classes you can take for this business, it isn't necessary if you are someone
that has always had a keen eye for making a home look more spacious with a good flow. Today, many people hire stagers to come
into their homes and get them ready to list. Why? People live in their homes, and aren't thinking about what others see when
their agents show their property. That's why a good stager can make the difference in a home selling quickly or sitting for
months and months on the market with no offers.
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In order to make this a success, you will have to have several agents who
will recommend your services, or a great pool of friends who can recommend you. Staging may sound simple, but it takes a lot
of time to build your business and a good eye for making a drab home look desireable.
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Consulting
If you have extensive experience in a particular business, your services as a consultant
could prove very profitable as many companies are looking to hire people with specific talents on a part time basis. Take
your past skills and turn them into a lucrative consulting business.
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Event Planner
This home business requires a lot of organizational skills, and a lot of work. It can also
be very stressful but if you have always been the person everyone raves about when they attend your dinners or parties this
could be just the ticket for you.
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TAX PREPARER
Most of your business will be during tax season obviously. There are plenty of places that can train you on the most
up to date tax laws etc so if you're good with numbers, this might be a good fit.
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BOOK KEEPER
I know of several people who work from home as book keepers for small companies who can't
afford to hire someone full time. Another good idea if you are good with numbers. Take a class at a community college or take
your pervious work skills to start this small business idea.
Your Extra Income Ideas View Others' Ideas
HEALTH AND WELLNESS: This is a perfect fit for anyone who
loves to help people, who is outgoing and wants extra income, or wants to build a new business with hardly any out
of pocket start-up costs. Once you have a team, your business will practically be on auto pilot. You'll get paid every
month even if you don't work, just like I do. But don't do it just because you want a 5 or 6 figure income. Do it
because you want to provide people with ways to improve their health, look and feel better with products that have real science
behind them. Those who stick with this business can earn incomes in the 5 and 6 figures, or just a few
hundred dollars a month. The added benefit here is that it can significantly improve your health.