During the warm summer months, an effective way to get rid of some of the clutter in your home while making a profit is to hold a yard sale. Although there are many ways to get the most out of a yard sale, profits can easily be increased by using basic marketing principles such as advertising, presentation and customer service. The success of your yard sale is often highly dependent upon the effort you put into it. Here is a look at how you can increase yard sale profits with basic marketing principles.
Like running a business, if you want your yard sale to be successful, you need to spread the word to your target customer. Effective ways of advertising for your yard sale include putting up signs in your neighborhood and on community message boards, spreading the word online through social networking websites, and taking out an ad in a local newspaper. Bringing attention to your yard sale by effectively advertising will greatly help increase your yard sale profits.
SEE: In A Cash Crunch? Hold A Yard Sale
Sometimes making a sale is all in the presentation. No one wants to rummage through items to see if there is anything worth buying. A highly-effective method of increasing sales at a yard sale is to "stage" your items. Similar to a store's window display, staging allows you to show off certain items. If you are selling a lot of furniture and home items, you could "stage" an area at your yard sale to look like a room in a house. Real estate agents frequently stage houses that they are having difficulty selling in order to make the house seem more welcoming. This method works exceptionally well with increasing yard sale profits as well. By putting your items on display in a clean and attractive manner, you will be more likely to make a sale.
Step up your yard sale game and help increase sales by bringing a positive "I can help" attitude. Customers are more likely to stick around and peruse your items when you are friendly and helpful. Be mindful as there is a fine line between being helpful and overbearing. The key is to remain casual, welcome visitors to your yard sale and answer any questions they may have.
SEE: Amazing Yard Sale Finds
Some consumers treat haggling at yard sales like a sport. Be flexible with your customers and you will be more likely to make a sale. If you price your items with reasonable prices, you will be able to move more product than you would if you listed your items with a higher price tag without any room for negotiation. Although you want to make a profit, high price tags at a yard sale are a sure fire way to decrease profit rather than increase it. The reason for this is because consumers go to yard sales for a bargain. High prices could scare potential customers away. As the end of the sale day nears, slash prices in an attempt to clear away as much merchandise as possible.
The majority of items that you would sell at a yard sale should be priced around 12-15% of what you paid for it originally. In order to make a decent profit from a yard sale, you will need to have a large amount of items for sale and you will need to price the products reasonably. By labeling your products with a reasonable price tag, you will be more likely to raise profits than by trying to play hard ball with your customers.
The Bottom Line
Although there are certain things you shouldn't sell at a garage sale, by presenting your items in a clean and attractive manner, pricing them well, advertising your sale and offering a helping hand to customers with questions, you are increasing your odds of yard sale success. If you treat your yard sale like a business, you can watch as your profits increase and your unwanted items find new owners. Increasing your yard sale profits is easy when you apply these effective marketing principles.