If you're considering starting a full-time reselling business, one of the biggest questions on your mind is likely how much time it will take to make it successful. While the answer to this question can vary depending on a number of factors, including your niche, your sales goals, and your level of experience, there are some general guidelines you can follow.
Let's explore what it really takes to be a full-time reseller, including how many hours a week you can expect to work, the types of tasks you'll need to focus on, and some tips for optimizing your time and productivity.
First, thrift stores can be hit or miss when it comes to finding quality inventory. Some stores may have a large selection of desirable items, while others may have very little that's worth reselling. This can be frustrating for resellers who are trying to build a consistent inventory of quality items.
Second, resellers may need to travel to multiple locations to find the items they need. Depending on your niche or specialty, you may need to visit several different thrift stores or flea markets in order to find the items you're looking for. This can be time-consuming and may require a significant amount of travel.
Finally, competition among resellers can make it even more difficult to find quality inventory. As thrifting has become more popular in recent years, more resellers have entered the market, which can make it harder to find high-quality items at reasonable prices.
To address these challenges, resellers may need to get creative with their sourcing strategies. This might include developing relationships with thrift store owners or employees, networking with other resellers in your area, or exploring new online marketplaces for secondhand items. It's also important to be persistent and patient when building your inventory, as it can take time to find the right items and build a consistent customer base.
There are many creative ways to source secondhand items.
Freecycle: Freecycle is a website that allows people to give away items they no longer need for free. You can find everything from furniture to electronics to clothing.
Swap Parties: Swap parties are a fun way to get rid of items you no longer need and pick up some new items in the process. You can host a swap party with friends or attend a public one.
Dumpster Diving: While it may not be for everyone, some people find great secondhand items by dumpster diving. You can find everything from furniture to home decor to clothing that people have thrown away. However, be aware of any laws or regulations in your area regarding dumpster diving.
Community Bulletin Boards: Community bulletin boards are a great way to find secondhand items in your local area. You can find them at community centers, libraries, and other public places.
Car Boot Sales: Car boot sales, also known as trunk sales, are a great way to find secondhand items. You can find them at community centers, schools, and other public places.
Time is the most precious currency we have, and just like money, we must spend it wisely to get the best returns.
The amount of time people spend on their reseller business can vary depending on various factors such as the type of business, the size of the inventory, the number of sales, and the personal goals of the reseller.
Some resellers may spend as little as a few hours per week on their business while others may devote more than 40 hours per week to sourcing, listing, packaging, and shipping items.
Generally speaking, most part-time resellers may spend between 10-20 hours per week on their business, while full-time resellers may spend 30-40 hours or more per week. However, it's important to note that reselling can be a flexible business model, and some resellers may choose to scale up or down their business according to their personal preferences and circumstances.