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Guerrilla Thrift Shopping: The 9 Laws of Profit

Thrift shopping for profit isn't dead. Online auction sites built a cottage industry for many of us and then promptly created competition so stiff that we sometimes wonder if it's all worth it. Thrift stores operate like Rodeo Drive boutiques, now, and online buyers have seemingly limitless choices. But with laser-like focus and a broader base of knowledge, I assert that money can still be made from thrift shopping. Here are my nine laws for profitable thrift shopping in a tight market.

1. Know your suppliers

Understanding the local thrift market in your area is key to scoring the best items. What days do folks typically have yard sales in your town? Unsold items tend to be donated to local charities the next day. Learning what days and times your favorite thrift store restocks can help keep you one step ahead of the competition. (See also: Things You Might Not Know About Your Local Thrift Store)

2. Develop a primary and secondary shopping strategy

Realize that you are not alone in your quest to turn a buck from thrift shopping. If you live in an area of any significant size, there are dozens of folks you can reasonably call your competition. Beating them to the punch is the secret to success. Consider your shopping strategy. Do you browse casually or do you dive right in and hit the high-profit potential items first? Over time, I've started doing a quick turn around the store, immediately. This is what I call primary shopping. I hit the item categories that have the highest resale value first — before they can be cleaned out by other shoppers. This approach saves time, increases good finds, and helps me chill out for the next shopping phase. Secondary shopping is digging deeper into each item category — taking my time and shopping for profit as well as for personal items.

Read more:http://www.wisebread.com/guerrilla-thrift-shopping-the-9-laws-of-pr...

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