Reselling used items has long been a great way to make some extra money, but the new apps and websites that are popping up make it even easier to pull in a decent income selling other people's used stuff. If you've been in the reselling business for a while and are hoping to expand, there are a few things that you can do to make it a little easier and less stressful. Here, you'll find a short list of tips to help you expand your growing reselling business.
Take a Business Loan
The cost of expanding will likely be substantial enough that you won't want to put it on a high-interest credit card or take a chance and spend all of the profits sitting in the business account — so it's time to take out a business loan.
This loan can be used to purchase product, lease or buy new storage options, invest in new equipment — whatever your business needs to grow, this loan can cover the cost.
When you take out the loan, make sure that you're paying attention to when the first payment will need to be made. Some business loans give you a couple of months to get things going before requiring the first payment to be made. Knowing when the first payment is due will help you prepare and reduce the chances of falling behind before you even get started.
Create a Workspace
If you're going to get serious about making this reselling business really boom, you're going to want to remove as much of the product and mess from the living areas of your home as possible. If you continue to work with piles of inventory sitting in your kitchen and boxes piling up in the living room, you will get tired and disgusted and eventually quit working on the listings altogether.
If you don't have an area in your home that you can dedicate to your work completely, it's time to look into leasing a small building or storage unit. You need a designated space for two reasons — it helps to separate work from home and it will protect the condition of the goods that you're selling.
You can make something really great out of even the smallest reselling business — it takes time, dedication, and space, but in the end, it's better than going and working a 9 to 5 job that you hate every single day.