Used Merchandise Business

[simonds]

I have been a building contractor for 40 years. Mostly new home construction for the past 25 years. Since the bankers put me almost out of business, I thinking about a new career.
I have always done this in my spare time, I would like some input from everyone out there for any advice.
I would like to buy and sell used merchandise. Can be about anything from tools to furniture, and things that I'm familiar with.
Everyone is looking for a good bargin nowdays. I used to always buy everything new, but can't afford it anymore. I'm sure there are a lot more people out there doing the same. Unemployment in my area is almost 10%.
What do you think, any ideas out there?

Thanks,
Clayton

 

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[AU24K]

This place does a whopping business...

http://www.davesgoodybarn.com/

Good luck!

Scott

 

[discovery_bound]

Hey simonds,
Sorry to hear 'bout your contractor business....it's a damn shame. On your choice of a new career path, if done right, can be quite rewarding in more way than one. My mother and one of her friends started a re-sale (used goods) business and opened up a store a couple years ago which they named 'The City Dump II'. Instant hit for that small rural area of northeastern Montana. They go to all sorts of aucton sales, garage sales, storage unit auctions, and the like. With that store, they also have what they call 'unique solutions'. People will call them to see if they want to buy the contents of an estate from an elderly person who's either passed away or resides in assisted living quarters and the remaining family doesn't want anything to do with it. They will look at the contents, make an offer if it's not all trash, and resell in the store. They are not making millions of dollars, but making enough of a profit doing what they love to do, and that's the best job of all. I think it's a great idea and if you decide to pursue it, I wish you lots of luck. One piece of advise.......you will need LOTS of space, especially if you get furniture. It's fun, relaxing, and everyday is a treasure hunt.

HH
DB

 

[Woodland Detectors]

Ummmm. If I had the funds to open up a decent pawn shop Id be all over it.
I'd be a Pawn star! Yeah

 

[Iron Patch]

Knowledge of the items is the key and it takes money to make money... meaning many things you buy can't be flipped in a day so you have to tie them up but still have the ability to buy more. Turning down a good deal sucks! It's hard to say more because I really don't know what you're into, but probably fair assumption it will be a tough gig. I started on a very low level buying and selling and it wasn't something that I could just triple my hours to make triple the money. It took quite a bit of experience and more hours to be able to triple the money and then some.

 

[mlayers]

I do this part time when I can find something that I think will resale for more then I pay for it. I also sale a lot on Ebay. You be surprise how much stuff you can sell there....Matt

 

[simonds]

Thank you all very much for the replies. I am not going to expect huge profits, i just want to pay the bills for at least another four years. I will be able to collect SS. then. But that will probably only be enough to pay utilities and taxes. I would like to continue working at something like this for more income without having to climb ladders and hammer nails for eight hours a day.
I have a garage and basement packed full of things that I have collected over the years, and I sure don't need them. I plan to start by selling these items while looking for more. I live in a rural area so I'm trying to sell some on an internet site (Craig's list). Maybe if things work out, I could erect a large pole barn on my property to store and sell items out of. Come summer time I can hit the yard sales, flea markets, garage sales, and auctions to see if I can pick up items that may sell the best and at a good profit. I really enjoy just going out for a nice ride and stopping to talk with people, asking them if they might have any antiques or collectibles that they would like to sell. I don't think I would do well buying antiques, I just don't know enough about them and would probably fail in that department. But that would maybe get my foot in the door or barn to look around and ask if they have anything else to sell. We'll see, all I can do is try it.
Thanks again for the advise.