How do second hand goods dealers make money?

Question

How do second hand goods dealers make money?

Answer 1

I work at goodwill so i should be able to explain it. its where all the crazy people gather. im not saying everyone who shops at a second hand store is crazy but the people who come in there everyday are. all the cheap people want to buy stuff but they would rather have a whole bunch of other peoples junk than go buy something new for themselves

Answer 2

To be a good second hand dealer. you need to consider the following.

1) The selection of the kind of products. No one can be a specialist in everything.

2) Then you need to know your products very very well from prices of being new, the differences in the range, texture, the models, etc, the advantages and disadvantages of each

3) then you need to know the going prices for 2nd hand or 3rd hand etc.......

4) You must have an eye for details, the condition, how to test the product, the good and the bad of each modification, etc.

You make money from the buying and selling price. a typical margin for 2nd hand market ranges from 25% span to 100% span as you would need to hold stocks for a long time, to repair, rework the products etc. (But it is still dependant on products)

Good luck on your new business

Answer 3

You have to know a lot about your products so you can find bargains at yard sales and on E-bay. You should be able to fix up minor flaws. You should research your area and check out the second hand stores in the area to see what's working and what's not.