I’ve been a firm believer and an ardent follower of the concept of doing what I feel is right. And no disrespect to anyone when I say this. I’ve tried and failed miserably at multiple 9-5’s. A hint’s enough to understand what’s meant for me and what’s not.
From the same unconventional spot I bring to you one of the most underrated side hustles bound to make you more money. And who doesn’t love money. A bit of extra cold hard earned cash never did anyone any bad.
If you’re like any of us, I’m sure you can walk around your room right now, and pick out 3 items you’ve owned since eternity but never used. Hell I can see 3 right from my desk.
And the thing with clutter is, it slowly, stealthily, surreptitiously, moves into your life, makes it crowded, and stays there without you realising it ever existed.
Couple of disclaimers before we get started. Certain “don’ts” if you please.
Your garage sale is aimed at making you money – yes. It’s also aimed at getting rid of clutter. I recommend not to go about selling off things which have been passed down by your ancestors. If you must there are better ways to sell them off.
Aim at your selling price ending at INR 5,000/- .
Do not rush into it. Once its sold its sold. See what items you want to get cleared of and put them up for sale.
Now the Steps.
Make a list of all the items you need to sell.
Check with your family if they want to hold onto anything. Shortlist the saleable items and put them aside.
Label them with the price on.
Do a cost to selling profit analysis on the products. Price them accordingly. And label them with proper tags.
Estimate your revenue.
Get an estimate on the revenue you’re looking to make post the sale.
Keep a 20% off limit price for discounts.
Not a necessity per say, but if you’re new to bargaining, it’s better to keep a margin of 20% above your selling price to give enough space for negotiating discounts.
Allocate a place.
Make sure it can be located easily. A community centre works just fine if you have enough people in your locality.
Get a few people to help.
A few friends around to help always makes it an experience. A memorable one at that.
Set the official date and time
You want to have a starting time and an ending time.
Advertise on Social Media and Notice Boards
Thanks to the days we’re in, advertising needn’t cost you a penny. Your friend lists and local notice boards are more than enough to gain enough traffic. Cover everything, from Facebook to Whatsapp.
Prepare to handle cash and provide change
Display of Products
Have your products arranged in a linear formation to ensure good flow of your customers. A certain order in items also helps.
Group products in categories
For instance, put the electronics together, put the clothes in another section etc.
Offer Packaged Deals
You can make more money this way if you can strike a good deal. Don’t do this on the spot though. Have it prefixed.
Play Some Music
Set the mood.
Chat with your customers
Make it a welcoming affair. Talk to your customers. Answer their questions about your products. Let them move around freely.
One ManUP Out.