How To Make Money Selling Thrift Store Clothing
For years thrift stores have been a
part of the retail industry and the future looks bright. This is
because there is a strong demand for these cheap products. Given the
ever-deteriorating global economic climate, one can assume that the
market for thrift stores is only going to expand. As a result, one
might want to know how to make money selling thrift store
Location, Location, Location
As in real estate, the above does indeed apply to selling thrift store clothing. In this respect, in order to profitably sell, one has to get their supply from the right areas. Usually shopping in affluent areas increases chances of bumping into brand names and designer clothes. With a higher purchasing power, consumers here are more likely to let go of a good quality piece of clothing, even before it’s worn out as they go for the next trendy thing. It is then possible to sell these items to less wealthy neighborhoods where people are literally dying to get into those kinds of clothes, but may not afford the brand new price tag.
You have a better chance of finding a used Coach handbag in a wealthy neighborhood's thrift store, so if you are looking for high end items try shops in upscale neighborhoods of cities such as New York and Los Angeles.
Necessity Over Leisure
When it comes to thrift store clothes, the less elastic the demand, the better for you. When a product has little elasticity, this means people will want to buy it regardless of whether the price changes or their income varies. A good example of this is maternity clothes. It doesn’t matter if people have a lot of money or not when pregnant a woman will have to wear this specialized type of clothing. The more one can identify these much-needed clothes, the higher the chances of making money. The answer to the question, how to make money selling thrift store clothing, rests hugely on this factor.
The Newer The Better
Usually, when starting out, it is often typical to wonder about the type of clothes that bring the best return. One rule of thumb is to go with clothing that still has tags on. If you happen to come across clothes being sold in a thrift store and they have their price tags on, snap them up. This is a great prospect, particularly when you list it and refer to it as being new, still with tags.’ Anyone who’s wanted to buy a phone and heard that it’s still in its box will understand the intrinsic value here.
People that receive unwanted gifts, whether the gift is a Polo Ralph Lauren dress shirt or a Tahari evening dress, will often donate it to a local thrift shop that supports a charity. Caveat, to find new clothes you should be at the store at the minute that they literally bring out their new selections.
You should take down the phone numbers of the store managers so that you can keep in touch with them.
Widen Margins, By Following Stores
The internet, and social media, in particular makes it very easy to keep tabs on what is being sold at different thrift shops in your locale. As such, this offers a great opportunity to stay up to date with specials and enable you to buy low and sell high. Facebook groups are also a good source of quality, used clothing that one can go on to flip for a profit.
The Less Specific The Better
Unlike department stores, there is usually no particular order in which you find clothes at a thrift store. As such, it is a good idea to keep an open mind when buying. Avoid being rigid in terms of what you buy for reselling. Being sensitive to your market’s diverse needs can be the secret to mastering how to make money selling thrift store clothing.
How To Sell Your Finds
You can set up a store, run a garage sale, wholesale to sellers, list on eBay, market on Facebook, use Craigslist.com, and even export your merchandise.
Some well known stores you should check out are, Housing Works Thrift
Beacon's Closet, Secaucus Emergency