Your checklist to prepare for a money-making garage sale.
Money Girl
297 MG Yard Sale Tips to Earn More Money
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Thanks for downloading the Money Girl Podcast. I'm your host, Laura Adams. I also wrote the award-winning and fun guide to personal finance called Money Girl's Smart Moves to Grow Rich. Get a copy of the paperback or download the e-book from your favorite bookseller. If your closets are overflowing, you have no idea what's stored under your bed, or the thought of trying to find something in your attic is frightening, it's time for a yard sale. I'll give you some great tips to organize a sale that makes people want to spend money and leaves a lot of cash in your pocket. After making the decision to relocate from Central Florida to the San Francisco Bay area By the end of 2012, my husband and I knew it was the perfect time to have a huge yard sale and get rid of lots of stuff. Although I can't say having a garage sale is easy, it can really pay off. When you're ready to get rid of unused items, downsides to a smaller place, or just raise some cash, follow these eight tips to get the most out of your next yard sale. Tip number one, deliver notices. At least two weeks before your sale, create a lender or flyer to notify everyone in your neighborhood, building, or workplace about your upcoming sale, list the sale dates, times, and categories of items that you'll be selling, like China, glassware, sporting equipment, or antiques. If you have any special or high-end items, include a short description of each one. Tip number two, have a pre-sale. The notification you send out serves a couple of purposes, but one is to invite people to a pre-sale. On your flyer, include one or more days and times that you'll be available before the real sale starts to let people see what you have. I was shocked at how much stuff our neighbors and friends purchased right out of our overloaded dusty garage several days before the real sale. Having a pre-sale allows people to get the good stuff early, and at least fewer items to price and haul out on sale day. Tip number three, collaborate with neighbors. Another reason to spread the word about your yard sale to friends and neighbors ahead of time is that they might want to participate in the sale with you. One of our neighbors decided to have a yard sale on the same day as ours. That brought in more traffic because both of us advertised and put out directional signs. You can also share the cost of ads and signage to reduce expenses. Tip number four, make good signs. Signs are another reason to notify friends and neighbors about your plans because they might have signs from their previous garage sales to loan you. However, remember that signs portray an image about the quality of your sale, so only use signs that are in good condition and are written in big, bold print. I spent a lot of time creating large, sturdy signs that would hold up to wind and rain in case of bad weather. Also, create signs to show people where to park or rope off areas where they shouldn't park. Even if your neighbors don't want to have a group sale, they'll appreciate early notification from you so they're prepared for additional traffic on your street on sale day. Tip number five, advertise off and online. The copy you write for a garage sale ad should list the dates, times, address, and categories of merchandise. If you have lots of sporting equipment, for instance, list out subcategories like fishing, hunting, biking, or surfing, advertise your yard sale in offline newspapers and local penny-saver publications, as well as online sites like Craigslist.com. There's a diverse crowd of people who shop yard sales, so you want to reach as many of them as possible. Tip number six, merchandise like a pro. The key to any successful sale is good merchandising. My biggest tip is to have plenty of long tables to properly display what you're selling, so you don't have to put too many items on the ground. I rented five tables that were delivered the day before the sale and picked up the day after for a total cost of $60. It's best to price items ahead of time and group like items together, so people who are into gardening, housewares, or artwork can see everything you have in that category in one place. But if you have a lot of small items that you want to move quickly, put them all on one table and make a sign that says something like "Everything on this table is $1". The retail giants always play music, so I recommend that you do it too. It can make the atmosphere more fun and lively and put customers at ease. Choose an upbeat playlist that will appeal to a wide audience like rock or country. Experience the performance of Lexus Racing, the thunderous V8 engine. The black and day-glow yellow Lexus RCF GT3, a blur of speed and adrenaline. 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Use a belt pack The currency of yard sales is cold hard cash, so make sure you have enough bills to make change. Instead of keeping your money in a change box, use a zippered belt pack. Paying money on your body is much safer and allows you to make change quickly. Tip number 8. Talk to people People attend yard sales for many different reasons. Talk to each person to find out what they're looking for. They might be buying for their business, just browsing for fun, or trying to furnish a new home on the cheap. When a potential customer touches something, spends a lot of time looking at it or asks for your best price, tell them more about the item. You might say, "I bought that wetsuit three years ago and only wore it one time. Did you also see the snorkeling mask for sale? I'll throw that in for free." Before you decide to have a yard sale, be clear about what you want to accomplish. If you simply want to get rid of unused items, price them to sell, try bundling items like gardening supplies or tools in a container that's marked $10 for the whole thing. And if your goal is to make money, price your items a little high so you have room to negotiate. People never want to pay full price at a garage sale. If you prepare for a yard sale by notifying people you know, advertising in multiple places, having good signs, and then creating a friendly organized atmosphere on sale day, you'll make customers happy and bank a lot of cash. Want to read a transcript of this show or any other podcast? You'll find all the past shows on the Money Girl page at quickanddirtytips.com. This episode is #297 called "yard sale tips to earn more money." If you have great yard sale tips, share them on the Money Girl Facebook page. Also submit your money question or show topic suggestion on social media or email it to money@quickanddirtytips.com. 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