I’ve recently become interested in starting a side hustle reselling suuuuper cheap thrift store items for decent – but profitable – prices. Think about it: You can purchase something from Goodwill for a dollar. Even if that thing isn’t worth just a whole lot, if you resell it for $10, that’s a comparatively large profit margin! There are a surprising amount of people out there who make good money doing just this. In fact, some of them make reselling online their full time job and are six-figure earners. Now, I don’t have any plans to do anything remotely that involved since I have a full time job already, as well as a 9 month old, but a little extra income always helps.
What I do plan on doing is sourcing a few items from my local thrift stores about once a week, and reselling them on either eBay or Poshmark. Vintage or quirky knick knacks, figurines, glasswear, pottery, etc. will go in my eBay store, and (clean) clothing, shoes, bags, and accessories will go in my Poshmark store (called a “closet”). There are differences between the two selling platforms that are important to consider. When selling on eBay, you pay about a 10% fee, plus the 3% PayPal fee. Poshmark takes a 20% fee, unless the cost of the item is less than $15, in which case they take a flat $2.95. Seem like a lot? It is, but the main advantage Poshmark has over eBay is the buyer pays shipping on Poshmark, a flat $6.79 for USPS Priority Mail. The buyer can pay shipping for eBay purchases as well, but the seller must arrange all the details and pay for the shipping up front before being reimbursed. Poshmark’s shipping policies take all the guesswork out of it for you. That being said, the seller can offer free shipping on items listed on eBay, which tends to attract a lot of traffic. The seller will have to pay for shipping somehow, which will likely need to be built into the price of the item, but how many of us have purchased something online just for the “free shipping”?
I’ve been to a couple of local thrift stores already, but I’ve been so overwhelmed that I left with either nothing or almost nothing. The Goodwill near me has decent inventory, but I am not quite learned enough in the finer things in life to know if what I’m looking at is something nice or just junk. I didn’t even go to the clothes section, as I was not initially considering reselling clothing, but next time I go I figure I’ll spend the majority of my time there. Today I went to a local thrift store called Hangers of Hope where I had clothing in mind. The prices surprised me! I could have gone to an upscale resale store and bought pieces for the same price these donated pieces were going for. Disappointed, I looked around at the housewares instead, but quickly realized I had no idea what I was looking at. That, and I had a baby who was starting to get fussy. I left empty handed, but I am NOT going to let that deter me!
So there you have it. I’m going to actually try a thing. I’m hoping I can get some good deals here pretty soon so I can start listing more. For now, my items are things already from my actual closet I was going to be reselling anyways. You can see my Poshmark closet and my eBay store here. I have an embarrassingly small inventory, and I may be pricing things entirely too high, but this is a learning experience! Hopefully I’ll have some luck though, and I can check back and share my experiences with you. Check out Poshmark and eBay and see if you can make reselling work for you, too!