When you need to make extra money or want to start side hustling, people will often tell you to start selling items from your home. That sounds great and all, but how do you actually do that? And more importantly, what do you do when all the items are sold and you have no more inventory?
Selling old clothes, children’s toys, electronics etc. either online or at a garage sale is a great way to earn extra money but it also can be very limiting.
If you’d like to make good money long-term from selling various different items online, you’ll need to start investing your money in inventory and flipping the items to make a profit. Sound easier said than done? Here are some practical tips to help you flip items and make more money off your online sales.
Determine a Profitable Category of Items to Sell
When you decide to flip anything for profit whether it’s a house, a car, a piece of furniture, or even clothes, the main idea is to spend as little as you can on something that will have the potential to sell well. You can do research online to see what items are selling best these days or you can poke around on popular websites like Amazon, eBay and Craigslist to see which items are being advertised most.
Jason, who owns the website, The Butler Journal, is an experienced eBay seller who flips items for profit online in his spare time. He suggests checking online to see if a particular item you are interested in selling has been recently sold by someone else. This will help you get some insight on how popular the item is and how much it sells for so you can determine a realistic price point.
“If I have an item listed and someone inquires about it, almost always provide a timely response. If someone is taking the time out to email you about an item, nine times out of 10 they want to buy it,” Jason adds.
I did a little of the research work for you and compiled a list of some of the best items to flip and sell online for a profit.
- Clothes and shoes
- College Textbooks
- Video Games
- Sport-Related Items
- Action Figures
- Household Supplies
- Art and Home Decorations
A few months ago, I decided to start selling clothes online to make extra money. I had quite a few clothing items I no longer wore or needed. When my inventory ran low, I decided to start shopping at local thrift stores in search of what I call ‘hidden gems.’ Thrift store gems include brand name clothing that is in mint condition and still in tact for resale.
Sure I could probably pick up 10 shirts for $1.50 and try to sell them online. But with name brand clothing, you can list less items and still earn good money because people will pay more for it. You probably couldn’t even imagine how many people donate their perfectly good designer clothing to thrift stores. It’s a shame for them, but an opportunity for me.
Use the Right Platform
When you invest in the right items to either fix up or sell, you’ll need to consider which platform you’d like to use. Most people sell items online through popular online resellers like Amazon or eBay. The only downside about these sites is that it may be competitive but I will talk about how to get a leg up on the competition in my next point.
Craigslist is also another site sellers use to connect with a wide range of buyers, but some are ‘iffy’ about. It’s usually best for local selling since you will have to meet the buyer in person to make the transaction and give them the product. They don’t offer any safe way to help sellers and buyers make transactions through the website, so your best bet is handling the business is person and creating your own receipt system. Craigslist may be the better option if you are selling larger items like furniture that is too expensive to ship and brings in more money per sale.
If you don’t want to go through the mainstream platforms, just try to find a legitimate website to use that is relative to what you’re selling. For example, if you’re selling used college textbooks, you might want to use TextbookRush.com or BookFinder.com since you would have more of a target audience there. If you want to sell clothes, you can certainly use Amazon or eBay, but you can also use sites like Poshmark.com
Use Descriptive Keywords
Keywords are very important if you will be selling items on Amazon or eBay. When listing an item for sale on either of these sites, it’s important to include a detailed description along with relevant keywords that will help your listing show up when shoppers are searching for something similar.
Great keywords include brand names, color, size and details about the condition. Make sure you don’t skip the description portion either. Adding a one to three sentence description for each listing may sound time consuming, but it will be a way to fit more keywords into your listing and help improve your chances of selling your item(s) online sooner.
Have you ever tried to sell items online before? What types of things would you be interested in flipping to make a profit?