Think of your garage as a mini Wal-Mart store.
Fargo, ND – As promised, Dr. Finance is back once again to help answer any financial questions that you may have. Since almost everything is somehow related to money, Dr. Finance can help with most any question that is scratching your head.
Today’s question comes from Trudi Milkweed from Money, Mississippi. Trudi asks, “Dear Dr. Finance, can my family and I ever make a million dollars just by having a bunch of garage sales?”
Dr. Finance: Well, Mrs. Milkweed from Moneytown, the short answer is “Yes”. You and your family, if properly motivated, can certainly expect to earn a million dollars by having garage sales. The reason why I am so confident about this is because Dr. Finance has personally done it!
If your family has a thousand garage sales, each earning $1,000, that would be your million dollars right there. Five hundred garage sales each earning $2,000 would also get you to your goal. If you set your goal, and have it in writing up on your wall, and look at it every day, it will happen. Here’s how:
In order to have that many garage sales, you will need a continuous flow of stuff to sell. Use your God-given brainstormer to come up with as many ways of cheaply finding items to sell as you can.
For instance, you’all can find under-priced items at other garage sales, search all the charitable stores for fixer-uppers, ask companies for donation items, have your family members make craft items, make baked goods, breed kittens and puppies from stray animals you find, sell fresh garden items from your garden or someone else’s garden, and so on and so forth. The possibilities are endless. Have the kids constantly working to keep those sale shelves stocked. Have your husband quit his job to help out on a full-time basis.
Trudi, you need to start thinking of your garage as a Mini-Walmart. Have good signage to route people to your driveway. Make sure you have colorful balloons out. Set your prices low enough to sell but high enough to make some profit. I hope that helps. Good luck to you, and please let us know when you have reached your goal!
Previous helpful articles by Dr. Finance include: Underwater Mortgage Problems and Making Money By Reading The FM Observer.