The furniture industry is a large one, and it’s not too difficult to find a few pieces of furniture that are worth more than their weight in gold. If you’re looking for a way to make money flipping furniture, then this article will teach you how.
The flipping furniture before and after is a home-based side hustle. It requires minimal investment, but it can be very lucrative.
The ideal side business is like the perfect beer: difficult to come by, yet irreplaceable once found. Side hustles come in a variety of sizes and forms. There are a plethora of alternatives for augmenting your income, ranging from paid internet surveys to establishing a blog to selling your textbooks. Buying, restoring, and reselling furniture for a profit is one of the most ingenious and specialized concepts.
People are letting rid of excellent pieces of furniture with plenty of life remaining as our consumerism shifts toward single-use, throwaway goods – some of which may only need little TLC. Continue reading for helpful tips on how to make money flipping furniture.
How can people make money off of furniture flipping?
The concept is straightforward. You go out looking for discounted furniture that individuals or secondhand shops are selling or giving away, then you purchase it, freshen it up with some know-how and elbow grease, and sell it to the highest bidder.
Is it Profitable to Flip Furniture?
Yes, it is lucrative to flip furniture. However, there is a catch. It is not lucrative for everyone. Hobbyists, in example, may discover that they haven’t given enough attention to the basics of the company, and that their earnings are minimal to non-existent if their time is taken into account.
I’m focusing on amateurs since they’re the ones who are most likely to appreciate the restoration process. They may spend an excessive amount of time polishing a piece because it appeals to them, rather than focusing on efficiency and choices that enable them to take on more work and earn more money.
Aside from the possibility for additional hours per item, furniture restoration is a lucrative business, owing to the manner second-hand furniture is usually purchased and sold. Typically, the original owners of secondhand furniture will sell it at a substantial discount prior to a relocation or similar life event.
Buyers are often charities and secondhand shops that sell things for much less than market value (for example, many Goodwill stores sell tables for $10 or less). You may often sell a secondhand piece of furniture for multiples of what you bought for it after the restoration-related value rise is included in.
Is Flipping Furniture a Scalable Side Hustle?
Restoration of furniture is a tough business to establish. The ability to identify deals, quickly tidy up old items, and successfully advertise to buyers account for a large portion of revenue. Because of the absence of automation in the art, it may be difficult to find extra hours to take on more work beyond a certain point. And without a consistent amount of work at a full-time level, employing workers isn’t an option (though if you’re exceptionally skilled and can advertise successfully, furniture flipping can become full-time employment — but that’s outside the focus of this essay).
Many individuals who love furniture repair are prepared to overlook the lack of scalability as a disadvantage. Because the company is tough to grow, competition is moderate, and you’re unlikely to be pushed out of the market by a new platform or a ruthless competitor.
The ability to become competent at bargain-hunting, repair, and product promotion provides you substantial benefits as you acquire experience. You’ll have an advantage over others who are just getting started.
Why Is Furniture Flipping a Lucrative Side Business?
This side business has a few additional enticing features. While earnings increase as you acquire experience in different areas of repairing and reselling old furniture, the potential for profit is obvious right away.
This job also comes with a lot of flexibility, which is a big plus. There are no fixed hours, no time constraints, and no expiration date on the goods. You may work at your own speed and on your own timetable.
The entrance obstacles are almost non-existent. You may begin with a single, low-cost item as well as a few tools and materials. Overall, start-up expenses should be a few hundred dollars at most. While you may spend more if you like, we recommend keeping your first commitment as modest as possible in order to guarantee profitability on your first few tries.
In terms of expansion, any normal buyer-seller interactions may be converted into regular contracts and monetized. While we can’t claim the sky’s the limit when it comes to furniture repair, it’s definitely close.
Pro Tip: If you want to learn more about how to convert this side hustle into a full-fledged company, we suggest checking out Rob and Melissa’s Flea Market Flipper’s Flipping University course. They made almost $133,000 in sales their first year flipping full-time.
How to Begin a Furniture Flipping Business
We suggest beginning slowly and steadily since a successful company in this area requires unique, specialized knowledge and skills. Find one or two parts, repair them as best you can, then sell them for the most money possible. Then repeat the process. To optimize profit, learn from each transaction: what kinds of pieces are simplest to repair, what pieces sell well, and what types of furniture are easiest to locate. What Should You Look for in a Piece of Furniture?
While the answer to this question is dependent on your facilities and resources, there are certain basic guidelines that apply to everyone.
First and foremost, it’s critical to stress that while you’re just getting started, stick to low-cost items. If you’ve never repaired furniture before, purchasing an antique armoire is pointless. It’s preferable to practice your skills on simpler and less expensive items.
Second, genuine wood (rather than pressboard) and metal furniture may be more durable. Wood and metal are more resistant to reworking, and substantial items made of these materials may appreciate in value over time. (However, it’s worth noting that, as the number of factory-made items has grown, solid wood furniture has become more difficult to come by.)
Third, the furniture should not be so difficult to repair that a value rise requires hundreds of hours of work. Look for goods that have a high return rate and faults that are simple to repair. Simple repairs and fast turnarounds are ideal for scuff marks, missing feet, and shaky legs.
What Are Some Good Places to Look for Furniture to Flip?
Furniture that may be resold can be located in a variety of locations, but there are a few typical routes that can make picking up and selling items simpler.
Make an announcement on Facebook, Instagram, Snapchat, and WhatsApp that you’re seeking to purchase used furniture for a good price. People will usually react positively, particularly if you offer to take up the items for free. (In many instances, offering free pick-up will persuade the seller to part with the item for no charge.)
Keep an eye out for local products on internet markets. Furniture may be found on Facebook Marketplace is a platform that allows you to sell, Craigslist, Kijiji, eBay, and other similar sites. Keep in mind that in order to keep your profit margins, you’ll probably have to purchase locally and pick up the goods personally. (Furniture shipping is costly.)
Look for secondhand and charity shops in your area. These shops are a gold mine of scarcely worn, barely scuffed furniture at a fraction of the original cost.
You Can Restore Furniture in a Variety of Ways
There are a few tried-and-true solutions for typical issues with used furniture. The most common is a fresh coat of paint, which may be used to cover blemishes or to modernize an older item. An antique chair or dresser may benefit from a fresh coat of paint or varnish.
Some repairs are as easy as replacing or tightening screws and fasteners, believe it or not. This method may be used to fix many weak chair legs or shaky cabinet feet.
Of course, not every job will be as straightforward. For drawers and beds, you may need to match and replace components or rebuild wooden parts. As you acquire experience, you’ll be able to tell which repairs are easy and which tasks should be left to others.
The Best Websites for Selling Furniture on the Internet
Going online is the greatest method to start selling furniture. There are a number of online marketplaces that specialize on connecting local vendors with local customers.
In New York City, Long Island, New York North, Connecticut, New Jersey, and Philadelphia, AptDeco is a service. AptDeco is similar to Craigslist or OfferUp, except it charges much greater fees in return for additional services that make selling simpler. AptDeco will take care of shipping, refunds, item inspection, and even pricing.
Bonanza is a marketplace that links buyers and vendors. Sellers may list goods for free, and the site only charges a fee when an item sells. Keep in mind that the customer may not be in your area, so you’ll need to figure out a delivery method.
OfferUp is an online marketplace that connects buyers and sellers of products in their local area. Unlike other comparable marketplaces, OfferUp enables you to make payments and send goods to your customers directly from the app. Meet your buyers in person is highly recommended by OfferUp.
Etsy is a website devoted to promoting people’s handmade and one-of-a-kind items. It’s a popular marketplace for people who create and sell a wide range of creative goods, including furniture, jewelry, crafts, games, home décor, and more. For your carefully repaired furniture, Etsy may be a wonderful market.
Facebook Marketplace is a classifieds-style service that works in conjunction with the Facebook network. You won’t run out of buyers with a user base of over two billion. You may utilize Facebook Ads to advertise your goods and get more eyes on your furnishings, or you can put stuff for sale for free.
Chairish is a great marketplace for one-of-a-kind and unusual décor and furniture. It’s similar to Etsy, except it caters on the design and furnishings market. It’s designed specifically for furniture restorers, particularly if your work is unique or quirky.
Everyone is familiar with eBay. It’s a huge online auction site where you can find virtually everything. Simply list your furniture for sale, establish a reserve price (the lowest amount a seller would accept for an auctioned item), and wait for consumers to bid on it.
Craigslist is the first and most well-known internet marketplace for local items. Craigslist, which was founded in 1995, offers sections for just about everything you might want. Millions of individuals have used it, and it’s a fantastic option for those looking to sell furniture online.
Shopify is a high-end e-commerce platform. Create your own shop for all of your repaired furniture using our what-you-see-is-what-you-get marketplace. (We suggest this option only if you have a large quantity of items to sell on a regular basis.)
How to Make the Most Money Flipping Furniture
When it comes to flipping furniture, there is no secret sauce, but you may make the most of it by following some basic guidelines.
You must locate a good bargain on the furniture you wish to flip, just like you would when flipping a home. If you want to get the most out of your flipping efforts, this is critical.
Consider how much time and money you’ve invested in repairing that piece of furniture; you need to be able to add value in order to get a higher selling price.
There are many locations where you may buy very low-cost furniture. It’s all about knowing where to look.
Maintain a Close Eye on Supplies
After you’ve purchased a piece of furniture at a fair price, the next step is to restore it using high-quality materials and resources at a reduced cost. To put it another way, don’t overspend on supplies since it will eat into your profit margin.
We understand that when it comes to furniture restoration, you want to utilize the finest of the best, but there is a time and a place for everything. However, you must be cautious about what you purchase and where you get your goods.
Even if you won’t need them for a while, you may want to consider turning to wholesalers or buying goods in bulk for a reasonable price. Purchase at a reduced price and stock up!
Keep an eye out for garage or yard sales, since they may often provide excellent bargains.
Take Excellent Photographs
When it comes to selling on the internet, a picture is worth a thousand words. Your freshly repaired furniture will stand out and sell faster if you take good photographs of it.
Make sure you capture a variety of pictures from various perspectives and with varied details. The more pictures you have, the better. Also, make sure your pictures are high-resolution and not cropped, since this will put customers off.
Your furniture, not your cat or the 100-year-old lamp in the background, should be the focal point of the picture. When it comes to taking excellent pictures, natural lighting is always the best option!
To take excellent pictures, you don’t need an expensive camera. It’s all about the composition and lighting. The camera on your phone should be adequate.
Make your ad as detailed as possible. Make sure to include pertinent information such as measurements, colors, weight, and materials.
It’s best if you provide as many information as possible in your description. People want to know all there is to know about a product without having to see it.
Make a Shipping Offer
This is a significant issue. People pay for convenience, therefore providing delivery is a big plus that will set you apart from other vendors.
It’s not as difficult as it sounds to provide “shipping.” If you were able to move your furniture around while repairing it, you should have no trouble shipping it without the need of any special tools or equipment.
If you have the expertise and the will to take up furniture flipping, there is a lot of possibilities in this lucrative side business. We’ll sum up the article with a few important takeaways:
- Even if you just have a few hours each week to spare, you may make money flipping furniture.
- Furniture flipping is a simple concept: find discounted, old furniture, repair it, and resell it for a profit.
- Develop the skills and knowledge needed to spot good deals on furniture, rapidly restore it to its full potential, and sell it.
- Scaling your company beyond a one-person operation may be challenging, but it is possible if you have a lot of work.
- To expand your company, focus on building connections with frequent customers and sellers.
- It’s really simple to get started. For your first project, all you need is a few materials and a trip to your closest second-hand or charity store.
- Many internet marketplaces make it easy to sell furniture locally and nationally. Choose the finest option for your niche and get to work marketing your work!
The great thing about flipping furniture is that you can use it to supplement your income or turn it into a full-fledged company. It’s all up to you.
Furniture flipping is a home-based side hustle that can be done on the side of your full-time job. There are many furniture flipping business plans available online, but you’ll need to find one that fits your needs.
Frequently Asked Questions
Is furniture flipping a good side hustle?
Furniture flipping is a good side hustle.
Can you make good money flipping furniture?
I am not an expert on the subject, but I believe that there are many ways to make money. You can start by renting out your furniture or selling it on sites like Craigslist, Facebook Marketplace, etc.
Is refurbishing furniture profitable?
Yes, refurbishing furniture is profitable.
- flipping furniture for beginners
- flipping furniture income
- furniture flipping business printables
- flipping furniture full-time
- furniture flipping course