In the UK, £1.5 billion is spent on car boot sales each year.
These popular gatherings have been getting a makeover lately, as many merchants now see them as a side hustle, and not just a way to declutter and recycle.
Indeed, recent research reveals that the average person earns £110 at every garage sale. Here I have revealed the secrets of a garage sale to guarantee you a profit.
Mark the calendar – it’s payday weekend
Preparing for a garage sale should start before you even consider items for sale – 43% of UK disposable income is spent on payday weekends.
Think about the best time of the month to host a booth and consider the seasons as well as local events in the area.
For example, Payday Weekend is likely to increase the amount spent when selling car boots, but if there is a “one-time” attraction such as a festival in the area, locals can choose to visit it instead.
Do the numbers add up?
Calculate a few numbers to determine how much you need to earn to break even after expenses such as site land and gas.
Add the relevant percentage to this number to align with the profit you want to make. Don’t forget to bring your lunch with you so you don’t spend the money you earn!
Where are the toilets ?
Building a cubicle next to a public restroom may feel like a short straw, but it’s a space that’s likely to see heavy traffic throughout the day as people need the restroom.
Ultimately, more traffic = more sales. Think about the areas where most people in the area are likely to go.
Prepare to negotiate
Haggling is an integral part of a garage sale as visitors are looking for a bargain. It is essential that you know the value of the items on your stand as well as their cost elsewhere.
Have some “return comments”, prepared for people’s comments on the price of goods. For example, if someone comments that an item is expensive, you can inform them that it “is currently on e-bay for X amount” or that it is “one year old with minimal wear”.
Bring “shopping” accessories
Vital sales could be lost if you neglect to consider the accessories that help close a sale.
If you’re selling clothes, you’ll probably need a mirror when visitors try on the items. Multiple purchases require carrier bags and all products must be priced. Often people don’t want to ask the price of an item and will just move on, causing you to lose the sale.
Everyone is a customer
Remember, it’s not just general visitors who are potential customers. Other stall owners often visit other stalls before the site opens to get early reviews of the best deals.
Make sure you’re settled and ready to go before the doors open so stall owners can navigate.
James Baker is a specialist in RegCarCheck