If you’ve ever been to an antiques mall, you know it’s a place where you could easily get lost for hours soaking up all the history associated with the items on display. But it is also a place where you can earn a lot of money. Setting up a booth is simple and affordable, and it can generate a great deal of fringe income on a regular basis. Here are some tips to help you make the most of your experience.
Do some homework
Before setting up a booth at an antique mall, do a little research on the different ones located in your area. If one has a better reputation than others, it may be worth driving a little further. However, it is important to note that you may find it difficult to find available space if the mall is particularly popular.
You’d be surprised how many people get into this without much planning regarding the items they want to sell. Many experts recommend that if you are just starting out, you try to sell a little of everything. For example, don’t just focus on collectibles; add some jewelry, vintage clothing, furniture, etc. The more diverse your inventory, the better your chances of success.
Take a look around at some garage sales in your neighborhood and see what people are buying and selling. Take a close look at the types of items that tend to attract the most attention, and don’t be afraid to take notes. Since negotiation is an important component of these types of sales, pay close attention to what people actually pay for items compared to how they are branded.
Putting the plan into action
Once you’ve decided on the types of items to put on your old mall stall, you need to figure out how to buy those items at prices low enough to make a good profit when you resell them. That sounds obvious, of course, but many newbies buy things just because they like them, they don’t even think about whether or not they could make a solid profit from it.
Many experts agree that you make money when you buy an item, not when you sell it. The better the price when you pay it, the better the profit will be when you sell it. Plus, your customers will keep coming back because they know the prices you charge are fair.
This only scratches the surface regarding the strategies you need to have before renting a stall at an antique mall. There are other considerations, like the size and location of your booth, that are just as important. Don’t be afraid to speak to professionals to get their opinions on how you can maximize profits.
