20 MINUTE THRIFT STORE HUNT
In today's video I take you with me as I have about 30 minutes to spare before I pick up my kids from school to see if I can find some profit at my local Salvation Army thrift store. Before I get to the store I really wanted to strike the point home to new sellers that buying long tail items only is not a smart business model if you are looking for consistent monthly income. I'm not saying long tail is bad as I'm a big component of selling items like that but it is the mixture of turning other items on a daily, weekly and monthly basis is what is going to put that money in your pocket. Once you can establish this type of system, the long tail money is truly gravy.
As I approach the thrift store I was stopped at a light where an accident just occurred, since moving from Illinois to Arizona I can tell you that I thought Chicago drivers where bad. Nope, some of these people near me in Arizona have no respect for others on the road. It really is sad that people would rather play with their phones than pay attention to the road.
This video was a little different because once I entered the store I literally show you the exact amount of time I was in the store looking for items to flip. The store was pretty bare as 2 days before they had their bi weekly 50% off sale so the store was pretty much ravaged. This is happening more and more by me because the competition is everywhere. As you can see from the video I didn't get a lot of items but at the same time I didn't buy anything that was junk in my opinion. Of all the items I picked up the higher ticket price was the shoes and I thought that those would sell fast. Nope, it is looking more and more like a long tail type of item. I'm ok with that considering I already got back 90% of the money I invested which isn't great but once those shoes sell that will be all my profit from my trip.
Now you might be reading this and say to yourself, Mike if you did that on a daily basis your business would struggle. Yes you are correct because I would be chasing the long tail item and I wouldn't be making money on a monthly basis. This goes back to what I was saying earlier in the video about long tail, it just so happens to be that after I spoke about it, I was actually presented with it in the store. Happy Hunting!