What sells?
That’s the sixty-four-thousand-dollar question. Each region of the USA has a different supply and demand. Warmer climates you will sell swim toys, water sports gear and other outdoor equipment faster than you would in colder climates.
Where you live dictates what is sellable. But maybe you are not seeing the picture clearly, even after having bought several storage units. What can you do to help you understand what’s hot in the market?
Keep a logbook of your inventory.
If you are not computer savvy, you may find a logbook at your local office supply store or drugstore. Spreadsheets however for those who are computer savvy can keep an accurate account of every item for sale and when it’s sold.
Why do this?
I was just getting to that. It’s all about “trends.” Amazon keeps a 100 best seller’s list which allows us to see what is hot right now. However, a few weeks from now that hot item may no longer make the list.
People are fickle when they impulse buy. Your merchandise may either fill a need or a want. If it’s a need, you may see these items sell quickly such as kitchenware. If it’s a want such as a vintage camera, it may take weeks or months before you see a return on that item.
By keeping a logbook you will actually see what’s currently trending in your area and online and will assist you in choosing the storage units that will help you flip your items quickly into a profit. Let’s say you see a unit with several bicycles, but they’re not selling in your area. Bid smart by not bidding.
Categorize your logbook in the way that is best for you. A spreadsheet could look something like this:
It’s clear that the current trend is girl’s clothing. By keeping a log of merchandise this maximizes how to build your inventory for profit.
Mind you, I more than understand many storage units up for auction contain unlabelled boxes and plastic containers. It’s a guessing game. The logbook or spreadsheet however is still meant as a guide to a profit state of mind when buying storage units.
Log.
Find the Trend.
Buy.
Remember, trends change like the wind so keep an accurate record of what sells and when. If you know the hot trends in your area or on the Internet you’ll know which storage units to bid up and which ones to let go.
Please leave your creative opinions in the box comment below.