When you're trying to pay down your debts as quickly as possible, it's helpful to find extra cash anywhere you can. One great way to make a few extra dollars, and clean out your old junk at the same time, is to hold a garage sale. With a bit of advance planning, you can make a tidy sum from a well-organized garage sale. Here are a few tips for making your next garage sale work for you.
You won't make very much money by simply putting your old junk out on your driveway and hoping people will ask about it. If you want to maximize your garage sale profits, you'll want to attract as many customers as possible. These days there are plenty of places to find free advertising space. Place an ad on Craigslist, use social media to hype up your event, and put up some attention-grabbing posters around the neighborhood. The more people you get at your garage sale, the more competition there will be for each item. And as the rules of economics state, more competition for your products means a bigger payoff for you.
If you really want to build some buzz around your garage sale, turn it into a neighborhood-wide event. This will take more organizational work on your part, but in return the payoff will be much larger. Chances are, many of your neighbors have junk they want to get rid of as well, and by pooling your efforts, you and your neighbors can attract more buyers. Some communities hold annual neighborhood-wide garage sale events complete with games, barbeques, ice cream, and whatever other types of fun activities you and your neighbors can come up with. Once again, the more buzz you build around the event, the more successful you'll be in the end.
What makes a garage sale different from a trash display? The items you display will tell potential buyers a lot about whether or not your garage sale is worth visiting. If it looks like you have nothing but junk for sale, no one will bother looking. For this reason, it's important that you pay attention to what's out on display. Put the most enticing items in more visible locations, and don't just put any old junk out on display.
Like any good salesperson, you'll want to make sure that your items are priced well if you're going to have any chance of making money from them. Look around for used items similar to what you're selling on sites like Craigslist to get an idea of what good prices look like. Keep in mind that most people will want to barter, but don't put your prices so high that you'll scare people away.
With the money you make at your garage sale, you'll be able to put a little extra toward paying down your debts. Paying off debt requires being creative and finding cash wherever you can, and holding a garage sale is certainly a good way to make a little bit of extra money. To make the most of your time (and your old junk), follow these tips to make your next garage sale a successful business venture.