How to have a profitable garage sale
Many people want to make a profit on their garage sales, but few know how. This post will show you how to have a profitable garage sale by providing you with some of the best ways to maximize your profits and minimize the work required for putting one together.
Step 1. Gather your garage sale items you wish to sell
Make a list of the items you wish to sell. It’s recommended to go through every room of your residence and get any item that you have no use for. If you have a lot of items to sell, it’s probably going to take more than one day. If this is the case, make sure you set up your garage sale for as many days as possible. Customers typically expect a three-day garage sale and some will even return if they miss the first day.
Step 2: Clean all items and make sure everything works.
Make sure all your items are clean and in working order. Do not sell anything broken unless it’s something that can be easily fixed. No one wants to purchase dirty, broken things from garage sales. For electronics, it’s best to ensure to test them first by plugging them in or popping in new batteries.
An example of something that you could sell damaged that’s fixable would be a pair of pants with a small hole. Customers do not expect perfection at garage sales and you’d be surprised at the number of customers that are willing to repair items before purchasing them.
Step 3: Assess your location & set it up like a retail shop
It’s important to assess your location carefully and set it up like a retail shop.
Be sure that you’re visible from the main road on the side of your house or in front of your garage by putting out flags, balloons, or lawn signs.
You do not want people driving down the street and not think that there is a garage sale.
It’s also best to organize your items in a way that makes sense and is easy for potential customers to navigate through. For example, if you have children’s clothing then separate them into sizes and keep all clothing items in 1 section.
Tools go with tools, home decor with other home decor items, etc. Keeping the items in their corresponding sections will make it easier for customers to find what they are looking for and will increase your chances of selling your items.
Step 4: Price your garage sale items
Now that you know how to set up your garage sale, let’s look at pricing. It is best to go through each item and make sure they are priced for either 85% of retail value or 75% if the item looks like it’s been used.
Haggling is the name of the game when it comes to garage sales. You should always offer discounts for multiple purchases or if customers purchase more than one item. There are some customers that don’t like haggling, so it’s best to have your items priced for what you want while making sure the items are still profitable.
Here is an example of a good pricing structure for your items. Let’s say you want to sell a television that you purchased for $100. 75% of the retail value would be $25 so you may want to sell it for $20 to $30. Another example would be a children’s shirt that you paid $15 for, 75% of the retail price is $3.75. You should price the shirt between $1 to $5.
Some customers will try and haggle with you but stick to your pricing structure if it makes sense. It is best to have your items listed in the My Garage Sale App so customers can clearly see the prices of the items that you’re selling.
Step 5: Advertise Your Garage Sale
Advertising your garage sale is vital for getting the word out about your upcoming sale. The easiest way to advertise is by using the My Garage Sale App where you can upload all of your garage sale items and photos, map it out to the address, share on social media, blast it through text message or email to friends & family, create a garage sale listing and more.
Using other websites such as Craigslist, Facebook Marketplace, Yard Sale Treasure Map, LetGo, etc. is also a great way to get the word out about your garage sale.
You can even use traditional garage sales marketing methods such as putting up posters and flyers, sending out texts and emails, and talking to friends and neighbors.
You can also print out business cards with your garage sale information or hand them out when you’re advertising the date of your garage sale.
When hanging posters for garage sales, it’s best to print them in color so they are more noticeable. You can find great deals for posters on Amazon or at your local arts & craft store.
Step 6: Enjoy yourself & have fun with it
Be courteous and polite throughout the garage sale. If a customer comes by and wants you to hold an item for them, then do so if possible. Even though it might inconvenience your sale some, it can leave a lasting impression with that customer that could lead to future sales.
If you have kiddos, set them up with a lemonade/soda/water/popsicle stand. This is a great way to teach your children how to work hard and earn some extra money. Kids love helping out their parents so it’s also a great way for them to bond with you during the garage sale.
Things to keep in mind:
Remember not to get upset or angry if something is stolen, break or gets damaged. It is part of holding a garage sale and sometimes these things happen. Just be thankful that nothing worse happened and keep your chin up.
If you don’t want to deal with the hassle of holding a garage sale, then just donate items to local charities or hold an online garage sale rather than a physical one.
Stay hydrated and take time for yourself if the hectic garage sale schedule is getting to you.
Don’t forget to have fun! Enjoy selling your items and meet some new people in the neighborhood.
Garage Sales are all about making money, having fun, collecting memories & teaching your children how to work hard. For these reasons alone, it’s a win-win for everyone involved!
Downloading the My Garage Sale App can bring in more foot traffic to your garage sale, help you keep track of the items that you sell, and you can see how much you’ve earned during your garage sale.
That’s how to have a profitable garage sale!
That’s all there is to know on how to have a profitable garage sale! Once you’ve followed the steps in this article, you’ll be ready to have a successful garage sale. It will take some time and patience, but these steps will save you time throughout the garage sale and help to ensure that your items are priced right.
Sharing is caring! Don’t forget to share this article with family and friends if it has been helpful for you. If there’s something else that you would like to see as a guide on the My Garage Sale App, let us know in the comments below.