If you find yourself in the need for some cash quick, you could literally be sitting on it. Take a look around the house. Do you have more than a broken record, some dusty plastic flowers, and an “I heart NY” coffee mug that you would like to part with? Let’s have a garage sale!
Now, not every profitable garage sale is made equal. Just because you do not think you have enough to be competitive with the local thrift store does not mean you can’t have a successful sale. The most profitable and successful garage sales are the ones that planned well and advertised locally. Try out these tried and true steps to having a successful and profitable garage sale.
1. Plan the date
Prime garage sale days vary in many locations. Typically people will hold them from spring to early autumn, on Fridays and/or Saturdays. Take into consideration the temperature and forecast. The hottest part of summer may not hold to be profitable. You should probably also avoid dates that coincide with large events such as sporting finals and bank holidays because footfall may be reduced.
2. Scour the house, yard, garage, shed…
It has been said repeatedly, “One man’s trash is another’s treasure.” Look for anything you no longer want. Something that you may think is complete trash could be the very thing your potential customer needs. Children’s toys and clothes in good condition are always good sellers. Books, DVDs, CDs, computer parts, lawn tools and equipment: the sky is the limit! As long as you are wanting to get rid of something, anything goes in a garage sale.
3. Organise
As you get your items together, it helps to start sorting and pricing as you go. You will save yourself time and headaches by not having to touch things twice: once in the gather and the second time to price.
4. Price to sell
You will have to decide exactly how you will want to price your items. It helps to know the average price of similar items in charity or secondhand stores. Also, other things to consider in your pricing include:
- How much do I need to get out of this item?
- Am I willing to take less?
- How much negotiation am I willing to do?
Your potential customers are likely to ask you if you will take less for an item. It is up to you whether you are willing to negotiate the prices. It is okay to say, “No, I am sorry.”
Some people like to mark things a bit higher to have some wiggle room; others prefer not to haggle. However, be prepared – there will be people asking you to take less.
5. Layout
As you are sorting and pricing, plan how you will layout the goods. It is best to set up like items together, much like a store, for better flow, and the ease of your customers.
- Get folding tables to place smaller or breakable items on. You can use personal shelves, also. Tables can be made out of sheets of plywood and sawhorses. Use your imagination! Avoid just laying out everything on sheets or tarps in the yard/driveway.
- Clothing sells better if it can be hung. Make garment racks out of ladders and poles. String rope in a tree. Or even use the lip of the garage door. People prefer to browse through hanging clothes than piles.
- Keep breakables and smaller items closer to where you will be taking the money for the safety of you and your customers.
6. Signs, signs, signs
The best garage sale signs are large, have little information, and lead the customer right to your house. The nice pre-printed “garage sale” signs you can purchase at the hardware store are nice, but do not give your customers enough information. Your signs do not have to be expensive – bright poster board will do. Simple is best:
- “Garage Sale” with a large arrow pointing in the appropriate direction.
- “Huge Sale 7-?” with a large arrow.
- “Multi-Family Sale” with directional arrow.
As the signs leading in get closer to the house, you can have such signs as “132 Chester St.” and an arrow. The keys to a great sign is:
- A driver can easy see the sign and the direction to go from a corner.
- At each turn, there is another sign.
- You think about the possible main entrances to your neighbourhood or house.
- The signs are LARGE and sturdy.
- The signs follow local rules.
David is co-founder and editor at large of CreditCardCompare.com.au, a leading Australian website where consumers can find a range of reward credit cards. Read more of his posts on The Credit Letter.
