Goodwill Outlet Income Experiment Residual Sales - Weeks 4 & 5
How Much Can I Make Thrifting The Goodwill Outlet In 30 Days
The first day of this experiment was March 18th, 2018. Today is May 22nd, so that is 65 days since the start.
The Goodwill Outlet is a special store that sells (almost) everything by weight. My local store charges $1.49 per pound for clothes, 29 cents per pound for glass, and 89 cents a pound for everything else. I mainly focus on that 'everything else' category.
I only went to the Goodwill Outlet every day for those first 30 days, and have been selling things I found there since then. The majority of the work was done in those first 30 days, which included efforts to find, clean/fix, photograph, and list all the items.
Now my work is limited to packing and shipping, something that takes far less time and effort. For that reason, I have decided to call any sales after the first 30 days my 'residuals.'
After that first 30 days, I had realized a profit of $1,300.78.
One week later that profit had ballooned to $1,689.31.
Two more weeks passed by and my profit had hit a high of $1,970.29!
Well, two more weeks have passed and sales have really slowed down. I think that is mainly due to the fact that I haven't been listing anything since. eBay likes when sellers list items every day (I think at least 5 listings per day is enough to stay in the good graces).
Here is what I sold in the last 2 weeks:
Total Sales Revenue = $175.39
Total Profit = $102.00
Add the profit from these last two weeks to our previous total and we get:
$2,072.29
We finally crossed that $2K mark!
Some hustle after work and during the weekends for just one month has brought in over $2,000 of additional income for my family.
And I still have a lot left! I have a huge lot of NERF guns, a lot of (as yet) unsold product still for sale on eBay, I even found some gold connectors that I haven't melted down but could be worth hundreds of dollars (@fullcoverbetting, I will!).
What will I do with this extra money? No, I will not go out and buy a brand new TV or something like that, but I will buy something.
All my side hustle income gets invested in one way or another, which is buying my family's future freedom. Did you know it only takes about $10 per day for 40 years to become a millionaire (at 8% interest)?
I plan to do it much, much faster. Hustling is key to my early retirement strategy.
Did you ever try selling clothes? I used to sell clothes all the time I found at goodwill. Some vintage t shirts are worth some bank.
I do sell some clothes, but I find the time spent searching and the crowded market send me looking elsewhere for stuff.
Great to see that you have crossed the 2k goal. It is just stunning! Never thought that it was possible but you have proved me wrong! Way to go!
I am curious: what was the buggest profit from one sale and what was it?
Cheers,
Peter
The most profit was the CPAP machine, followed by the USB Flight Throttle Quadrant, and in third place was the Sodastream machine. All these profits were in the mid to high $60's.
It's just small amounts adding up really!
Congratulations for having such a good income with this side hustle mate! More than 2000$ is very nice! :)
Thanks! It will be invested to earn passive income for the rest of my life.
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Huh? I haven't even listed them for sale anywhere!
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8% interest...
Retirement planning was so much simpler when 30 yr T-Bonds where paying 12%. Your Money or Your Life was/is a great book. But their advice on where to invest is a little dated.
Are you going to continue stopping by Goodwill? Going every other day may be more profitable and keep you raking in the fortune.
I would love that, the wife on the other hand...
She would not appreciate the time I spent doing that.
Good work! I respect the hustle!
That is amazing profit for the unwanted stuff of others.
Sounds like stackitus to me, your going to buy/invest into some silver or gold huh?!
Congratulations on crossing the $2k mark. That's great going for 30 days of searching.
Interesting to see that things are sold by weight. I've never heard of that before.
It must have been quite a job rummaging through all those crates. Our charity shops are neatly organised into sections with clothes hanging on rails sorted by colour and other items on shelves etc.
Hahaha...this one amuses me. This should be our ending goal.
But still, you should enjoy some small earning with the family.lol. and some weekend move