Consider Flipping Products As A Side Hustle
You may not think you have time to flip products. But, if you’re a mom with small kids and need some extra income, this is the perfect side hustle for you!
What is product flipping?
Product flipping is the act of buying an item, usually at a low price, and then selling it for more money. You can do this with nearly anything, but you’ll need to see if there’s a market for the product. You can find products to flip in several different ways.
How To Be Successful Flipping Products?
Finding a market for your product is the first step to being successful with flipping. Once you’ve found that, let the flipping begin. Here are a few pointers on how to flip products successfully.
Bundle items together. It makes them look more appealing and allows you to tack on an extra buck or two per item! Bundling is an age-old marketing technique that helps you sell higher quantities of products. In other cases, bundling is used to sell difficult-to-sell products in a bundle with easier-to-sell products.
Research Your Product
Don’t try to sell something before doing proper research about its value. Your time is precious, don’t waste it trying to convince someone of what they should pay for the product if you aren’t sure of its worth. Research on a product or topic is critical in understanding the value of the items you sell. The more time you spend buying and selling products, the better you will understand which products to pick up and where you’re buying a bargain.
Be honest in all aspects of selling, especially when buyers ask questions about how much use the item has had. Find ways to describe defects without lying. Product returns based on poor descriptions will end up costing you more time and admin. If you have a defective product, make sure to disclaim its true nature. Doing this will significantly reduce your after-sale stress.
Promote Your Products
Promote your items all over the place. Social media, classifieds, and marketplaces are great places to promote your products! How do potential customers buy your product if they don’t know about it? They don’t!
Popular Products To Flip
Technology products are popular products to flip. If you’ve got some old technology lying around that’s in good condition, sell them on! You can find many different buyers for these items, and they hold their value well when bought new! Look out for relatively cheap older models to purchase and resell at a profit.
*Furniture And House Items
You may not think of furniture as junk, but it often gets thrown out after a few years of use. Sell old furniture to someone who will give it a new life! Also, look out for friends and family trying to get rid of previously loved furniture. You could buy it from them and sell it at a markup.
Flipping vehicles can be a tricky game to master, but it can be a massive income generator once you understand how it works. The key is in buying cars for a reasonable price and letting them go for a profit. You can often find valuable deals at auctions or on websites such as edmunds. When flipping cars, it helps if you have an idea of how cars work; however, you do not need to be an expert as a mechanic can assist you in assessing the potential vehicle’s value.
*Books And Comics
You might think books are too bulky or heavy, but they can often be sold for quite some money if you find the right buyer. Also, pay attention to yard sales and auctions to pick up valuable books and comics for next to nothing.
If you have children yourself, then you’ll know how quickly baby items go out of date. So take advantage and sell them! Baby products are extremely popular, and this is a very renewable market.
*Thrift Store Clothing
Thrift stores need a constant supply of clothing to add to their store. So if you have some old clothes in good condition, sell them! You could even try buying from thrift shops and then selling on for profit. Just make sure that the items are not stained or ripped before going back into circulation.
If you’d like to start flipping items this year, you must do your research and learn what sells, for how much, and where. Once you know the value of a product and its worth in terms of potential buyers, finding opportunities will become easier!