Due to the loss of a job or the need to create an extra stream of income, many have found a way to make money by selling used appliances. It’s a win-win situation. The reseller makes the money he needs, and the buyer gets a fully functional unit while saving money. Used appliances often sell for 50 percent or less of the retail price. If you’re looking for pointers on how to make fast money as a used appliance reseller but don’t know where to start, you have multiple options.
Things you’ll need to make money:
- Investing money
- Used appliances
- Trailer or truck
1. Make money out of your garage. Some successful furniture and appliance stores had their humble beginning in someone’s garage or porch. Selling out of your garage is a practical way to save money. You reduce your overhead, as you don’t have to rent a location. However, due to safety reasons, some resellers prefer not to have strangers come to their home. You will need to use caution and good judgment when choosing a location for your business.
2. Have your used appliances serviced by a certified technician. Unless you’re a certified technician yourself, you’ll need some contacts. You can often find reputable technicians by contacting your local appliance parts store, as technicians are often their main customers.
You have two options. You can hire a technician to work for you full- or part-time as an employee, or you can contract his services as needed.
3. Find wholesale suppliers of used appliances. You can find suppliers of wholesale appliances on the Internet. Here are some examples of search terms: “how to buy used appliances by the truckload,” “wholesale appliance suppliers,” “how to buy appliances wholesale,” and “wholesale appliances by the lot.”
Make sure the supplier you choose is reputable and legitimate before paying any money. Go to the company’s official website, and look for the contact information, such as telephone number and physical address. Call the number to make sure that it’s a real phone number. Look up the address to make sure that it’s a legitimate location. Scammers often provide fake information in an effort to look authentic. Perform an online search for complaints or fraud reports against the company.
You should know that used appliance wholesale suppliers generally sell truckloads of about 50 to 100 units, which means that you‘ll need to invest money to make money. Some suppliers provide transportation, while others require that you make your own shipping arrangements. If you need to provide your own transportation, you will need a trailer or a truck, which you can rent. Learn all the details before paying any money.
4. Make money through non-wholesale sources of used appliances. If you cannot afford to buy appliances by the truckload at the moment, you still have options. Although choosing a non-wholesale route requires more time and effort, you can still find deals. For example, here are some suggestions:
- Self-storage auctions
- Newspaper ads
- Online auctions
- Garage Sales
- Place ads in which you offer to pick up broken appliances free of charge. Have a technician service the units before you sell them.
Make sure that the item is priced low enough to allow you to make a profit. Factors to consider before purchasing appliances for resell are whether it will need any parts replaced or whether you'll need to pay a service fee to a technician.
5. Sell your used appliances. List your used appliances in newspapers and on online sites such as craigslist, eBay and Amazon. Be truthful when describing the item. Take good pictures. It will save you time, as potential buyers will know exactly what to expect.
Overall, selling used appliances is a practical way to make money. Consumers are always looking for ways to save. If you provide a good product and demonstrate strong ethics, your business will likely succeed. You will make money by selling used appliances and your customers will benefit from the savings.
Tips & Warnings:
- Contact your State Comptroller’s Office to find out if you need to collect a sales tax in your state.
- Contact your local township hall and find out if your municipality requires any permits or licenses.
- Keep accurate records of all your investments, mileage, supplies, equipment and any other expenses related to your business.
- If you choose to sell out of your garage, make sure that you’re not violating any zoning laws. Keep your garage looking neat and organized so it doesn’t become an eyesore in your community.
- Never claim that a unit works perfectly if it doesn’t. You will only lose credibility and hurt your reputation, which in turn will diminish your ability to make money.
Copyright © 2011 Ana Jackson. All Rights Reserved. Reproduction in whole or in part constitutes plagiarism, is illegal and strictly prohibited.
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