STREET MAGIC - A Look Inside My One-Man-Army Recycling/Thrifting Resale Business - $9,164 Revenue / $7,896 Profit In November
Here's a cheat sheet if you'll jump to judge the #'s above: I spend 35-40 hours a month doing this, not week, so you'll need to prorate.
The rest of my time is free for any venture or adventure I choose, sports, music, and my health. In other words, FREEDOM... what life should be about.
I usually don't share personal details like this, but I will now, and feel out if it's worth doing again. This is true content to me people can benefit from, not an APPICS blurb that'll get 5x whatever people value my post at because they don't see it or care.
I know I'm onto something big with my business model when I focus. The proof is in the virtually risk-free numbers below that grow with ease when I decide to apply myself.
I continue to share these posts on Steem to try to motivate others and give them helpful ideas. My goal is to open one pair of eyes at a time. @getonthetrain has seen the light by quitting his job to resell. @alexvan is starting his free inventory resale adventure on Steem. A few other Steemians have posted things they've salvaged as a direct result of my mission. One at a time... That's the best part to me.
Many of my friends consider how I make money out of nowhere pure street magic. My urban homesteading is simply passion to prove that you don't need to work for someone else to make them money before getting your slice, and of course to help the environment.
My secret is only "working" 1-3 passionately efficient hours per day, a few times a week. It's never work to me. I haven't worked a single day since putting my notice in on my birthday at a company most people would do anything to work for. I've never had a single regret since my last day in June 2015.
My main debate is how much I could ramp this up if I put in more hours or got help, but then would it still be fun and effortless? If I'm only putting in 35-40 hours a month, what if I put in 60-80, or more? I could and know the numbers would explode off the charts. However, I'm content as is. My efficiency is unreal... mainly because it's a labor of love, pride, and I've finely tuned my craft.
November Summary:
95 items sold for $9,164 revenue.
Net November profit was $7,896, after $144 in inventory costs, repair materials, transportation costs, expenses, seller fees and shipping. Yes, only $144 in inventory costs. Think about that for a minute.
Profit/Revenue = 86.2% efficiency. That's an absurd margin thanks to recycling.
$305.47 revenue/day and $263.20 profit/day. I can do much more, but this is enough to be comfortable
78 of the 95 sales (82%) were recycled items I salvaged for free on my city's curbs.
17 items of the 95 were bought from thrift stores or yard sales for the previously mentioned total of $144. On average, that's $8.47 cost per item sold for $934.80 revenue.
Revenue would've been $450 higher if I didn't need to cancel two sales before delivery due to my mistakes.
76 items sold online and 19 sold in person for cash.
Recycled boxes and packaging materials used outside of USPS flat-rate packages and some free padded mailers from eBay I just had to pay $5 tax on. The cost of actual materials used to ship ~75 packages was about $5 (mainly bulk tape). Think about that when you spend money to ship your stuff.
Notable recycled item sales since my last post 4 days ago:
Being away for Thanksgiving cost me $150, $120 and $100 cash pickup opportunities, but they'll sell soon.
43 pounds of assorted Legos sold for $170 cash as a kid's Christmas gift. Plastic bin and box also recycled, duh.
Partial Lego set as found sold online for $151.
Medical device stand sold online for $125. Second time selling this due to a seller forcing a bogus return, but eBay refunded me the original sale revenue. Double whammy.
Miele vacuum sold for $100 cash.
Vacuum power nozzle tested and sold online for $63.
+11 random items in the $15-$25 range, including vacuum parts, power adapters, appliance parts, and camera stuff.
These items are NOT trash or recycling. What I'm doing is simply capitalizing off of lazy, ignorant and/or spoiled brats who are being exceedingly wasteful. Find YOUR opportunities. They're out there.
Things are all around if and when you choose to look for them on a consistent basis. If you quit after the first hour, you don't deserve the benefits.
Miss my last post?:
$3,570 of recycled goods sold in 24 hours.
Other recent posts:
- 8 recent salvaged recycling sales.
- 9 recent salvaged recycling sales.
- 17 recent salvaged recycling sales for $1,902.
- Saving tons of pounds from waste -- solid examples of my real goal.
- 20 recent salvaged recycling sales.
- 11 recent salvaged recycling sales.
Please let me know if you save anything as a result of getting ideas from these posts.
Passion, effort and discipline = results.
Thanks for your interest and support,
@steemmatt
P.S. - If I can do this at this level for fun, you can find $500 a month if you try. It's a lot easier than you think. The only way to find out is to commit to it.
Did you start this before you quit your job?
I didn't know about curb recycling yet before I quit. However, I was initially running a dedicated thrifting resale business on eBay for about 1.5 years while employed full-time and doing quite well. I started with the resale for fun, but was eventually covering my bills in my spare time via thrifting while working, hustling on lunch breaks, after work, and on weekends. This was by design to give me a sense of confidence and comfort when I quit.
As for recycling, I literally walked right into it next to my apartment after changing neighborhoods, and could never unsee the value in plain sight that I'd foolishly overlooked for years before. After that, I started phasing out of thrifting to focus on the free inventory which helps the environment.
To be fair, what you showed some posts back as the curb you collect from is unlike anything I have ever seen. Having said that, I'm in awe at the items you are able to sell, and what you command for them. I have spent most of my life reselling goods from auctions/sales and never considered some of the flows you have going. You have definitely inspired me to throw myself into this hard in the coming 4-6 weeks. Thank you.
For those like myself without curbs to gather from as he does, there is a lot of money still on the table buying once you look.
Glad I can light that spark again. After taking time away, it's a nice opportunity to rebuild a new practice from scratch using your expertise and new inventory to get the excitement back again. I've always liked the quote "Times change and minds rearrange." In this case, a clean slate with eBay/PayPal may be a new chapter for you. Also, other platforms like Facebook Marketplace, etc., that weren't available before, may open a new channel for you to either sell different things, or increase the odds of things moving when listed concurrently. Thanks for the resteem.
Thanks. I still have my account from years ago (have used it to buy lots to sell locally) and thankfully am not stuck with the limits a new account would have.
Any chance you could do a post outlining your shipping methods (where/how you buy your postage), packing tips (like box within a box for some things or is that unnecessary), etc.
Request received. If I don't write a post on the shipping soon enough, I'll make it in the form of a reply. Since you likely don't have as much access to the free packaging/materials I recycle for shipping, USPS' website allows you to order free Priority Mail supplies. The flat rate boxes, padded mailers, regional A and B boxes, and legal envelopes are really helpful. I suggest grabbing some of each to experiment with. Since it's been a while with eBay, they do offer good discounts on shipping rates, so I almost always buy my labels through their system for USPS and FedEx Ground.
Good luck as you get off the ground again.
Like the quote.. One man's junk is another man's treasure. This is really great stuff and out of curiosity... Are there also many items which you've gotten but don't get sold ? Or do you manage to sell everything
I've accumulated a lot over the years I keep in organized chaos in my apartment. I've also recently rented a sizable storage unit up the street for large items I normally wouldn't take, so buyers can meet me for cash deals. This has been a great catalyst, especially for things I can't carry up 4 flights of stairs myself.
With this in mind, I sell almost everything. Some in 24 hours and some take years. Most things I find now sell in a few days or weeks because I've sharpened my eye, and gotten more aggressive to list them faster. It can be a struggle to balance the hunting and farming. Hunting is more fun and feels more vital to me.
Slow sales are most often because I patiently wait for the prices I want. Many things I find outside are discontinued or rare older things, where they are hard to get, but buyers aren't common. However, when the buyer surfaces, I get the win at my price because there's no other choice. This reinforces my willpower to wait. It also proves that my strategy works. I'm patient.
My goal is to focus mainly on quick flips these days, but to mix in some items that will sell slowly so they're nice surprises when they do. I find so many high quality things, that I try to save as much as possible in the spirit of recycling. If it sells fast or slow, it's not a big difference outside of the space it consumes.
I've gotten into the habit of taking not-so-profitable things and extremely slow sellers to thrift stores at times. Sometimes it's just to keep the positive energy flowing, even if I'm passing on the revenue.
Thanks for your interest!
@steemmatt, I find this kind of entrepreneurship endeavor of yours splendid. And quite satisfying and funny too. :)
In what place of the US of A are you?
I'm asking, because I find that this sort of 'pure street magic' sales job and online merchant activity may well be of great interest for a steemian friend who also have many skills and experience in these regards.
So, I think I'm gonna summon him here right away so that both come into contact and exchange ideas and strategies that benefit you both. :)
Hey @denmarkguy. Did you already know to @steemmatt?
Thanks a lot for your support and spreading the message to your friend. I keep my location private, but I'm located in the heart of a large US city.
Thanks for the shoutout @por500bolos, appreciate the connect!
@denmarkguy: My pleasure mate. :)
@steemmatt: No worries bro! I see my friend is already here. I hope an eventual contact could be of mutual benefit. :)
Again, this boggles my mind! You're a legend!
Thank you. Glad you caught this since I'm not posting that much these days.
No worries mate. Yeah, I noticed your not around much. It happens. I hope you're well though and thanks for responding.
Very cool and very impressive @steemmatt!
I've been doing something similar for a long time, albeit in a more specialized way on a much smaller scale. I wonder, do you live in a city? Some success still, here in our small town... my wife specializes in upmarket clothing from thrift stores and rummage sales which she puts in her Poshmark store; I more do collectibles and vintage items. For us, it's more a case of finding "an item here or there," than enough to make a substantial income... there are a lot of upcyclers in this town.
We have long considered whether it would be worth our while to make weekly trips (2 hours each way) to the more swank areas of Seattle, Tacoma and Olympia, which are the nearest population centers with a "leisure class" that discards stuff of value rather than penny pinch.
Thank you. I live in a large US city where there are a lot of thrift stores and far more free recycling available on weekdays. I never thought I'd leave my corporate career for reselling, but the inventory is plentiful here with the right type of consistent hustle, and I doubt I could go back after seeing the light... plus all of the free time I've earned for myself every day.
Your idea of commuting to a metro area on a weekly basis is a good one. One or two trips on popular city curb recycling nights (if they put clear bags and boxes on the curbs) would be more than worth the trip if you hone the craft. It should ideally be where the more affluent people live, as they're the most wasteful.
The drive and gas might be annoying, but the thrill of the hunt should fuel the ride there, and the excitement of any finds should make the ride back a breeze. It takes some scouting and knowledge of the curb recycling schedules to pinpoint. I have my surrounding neighborhood down to a science... Yes, all of this income has come from about only my immediate hood within walking distance as it's a wealthy area. There are countless neighborhoods in my city of the same ilk I could also pillage, but that's for when I choose to ramp up.
Keep in touch with any questions or if you make a trip to scout/pick in a nearby city.
Nice results!
For November, my revenue was $7,273.35 from 112 sales.
Another month down, a few dozen more before retirement. 112 sales is solid. Have you dabbled inFacebook Marketplace yet?
When u sell online do u mostly use ebay?
I use eBay a lot, but have been phasing out of it for several types of items in lieu of Craigslist and Facebook Marketplace. Even though I find most things for free, getting cash with no fees or shipping is growing in appeal to be more streamlined. However, I'll still be selling on eBay for a while as it's best for parts and many genres of items with a broader market exposure. My perfect top rated/reviewed seller rating also helps me command higher prices on eBay for some things since people know they'll have a good experience. Craigslist and Facebook Marketplace are best for larger/heavier, more fragile, or things people would prefer to test first. For example, strollers, music equipment, large electronics/machines, art, etc...
Good to know, thanks for all the information bro. I have never sold on ebay but i know that newbs dont sell as much becuase of lower ratings and i wondered how that affected you. Unfortunately i havent seen anywhere in my area that get me the type of free inventory that you seem to find, maybe im not looking in the right places or maybe my town is to small. I just never see things sitting out, not even on trash or recycling day. However antiques stores and thrift stores are a huge thing around me and i feel like there are some treasures waiting to be found i just dont know exactly what im looking for, that is why i like seeing your posts.. it gives me ideas. Im just going to try to start slow and see how i do, i figured with holiday season coming up there should be no shortage of good finds.
Not sure of your locale, but there are many ways to procure inventory. Estate sales, auctions etc. Some dealers I have sold next to at swap meets would run ads to haul things to the dump (for a fee) and often would get great things to sell on top of getting paid to haul the stuff away. You can also make up some business cards for hauling and give them to real estate agents that deal in foreclosures. Often those houses still have the previous owners belongings in them, and you can get paid to get your inventory that way as well. I could go on, but that should be enough to give you some ideas. Good luck :)
Those are all great ideas, thanks for sharing 😁
Thought you might get a kick out of this, @artemislives and @pennsif. December is off to good start with $1,568 revenue on inventory costs of $102.45 as of 12/6.
Most definitely Matt. These posts of yours give me a little more hope that there are many ways to individually help make the world a better place.
I've made a small start, not by selling so far, but finding stuff needed by a local environmental charity. Mainly office equipment and supplies that otherwise would have gone to the dump. I'll be delivering two office chairs to them next week.
@tipu curate