Goodwill outlet stores sell an overwhelmingly high volume of merchandise that people donate daily. You can find merchandise for 99% off normal retail prices and 75% off retail Goodwill prices. High profits can be made daily if you know what to look for. I have documented a typical visit to a Goodwill outlet store to show you the potential that you can make daily. Goodwill outlet stores rotate new product daily and the quantity and amount is based on donations. I was very turned off at first, but once you find great items for incredibly low prices regularly, it can become addicting.
The bins are typically rotated every 5 minutes to 3 hours.
In the chaos, the first thing we grabbed was a Kodak 8mm vintage projector. We picked it up for $9.99 and it sells for around $165.00
Here is a picture of the projector that we picked up:
Here are the completed listing on eBay:
– Total Spent: $9.99
+ Sold for: $165.00
+ Profit: $155.00
This second thing we grabbed was talk boy. It sells for $2 at the outlet store which we could flip for $36.
After inspecting the battery compartment, it was not a good purchase as the batteries had corroded the electronic components making it nonfunctional.
A lot of the products at Goodwill are defective store returns. Many have receipts attached to the item. Always check the receipt to find out more information about the item.
Top 10 Tips for Success at Goodwill Outlet Stores
1. Be Discrete
Do not lead on that you are buying to resell anything… ever. Do not brag to people about making money on items. Don’t not appear wealthy or wear your best clothes when going to Goodwill. Just be your average Joe and don’t flash your iPhone around.
Occasionally you will be able to find good deals retail Goodwill stores but to get the great deals, visit the Goodwill outlet stores. Scout the retail stores regularly and if you have a local Goodwill outlet store, visit it often. Scout out all the bins, check all the shelves, open all containers, check behind and underneath things for hidden treasures.
3. Be Patient
Goodwill outlet stores put out new merchandise typically ever 30 minutes to 2 hours. It depends on how much merchandise that they have stored in the back and if the delivery trucks have arrived. It’s completely fine to stand over to the side in one of these stores and wait for the next bin to come out.
4. Be Aggressive
When they come out to collect the old bin, make your way to it and reserve a good spot to have access to the new bin. Don’t be afraid to get in there and throw some elbows to get the good stuff when the new bins come out.
5. Collect Anything
When the new bins come out, have a cart ready over to the side and grab absolutely anything you thing of value. It doesn’t matter if it’s work anything or not. The goal is to collect as much as possible.
6. Have a Smart Phone
One by one, research each item you collected to see what each item is selling for. If the item is profitable, keep it in your cart. If it’s not, slowly filter the junk back to the bins. I typically use the eBay app and search for completed listings. Make sure the item is selling and for a price that will make a profit. I typically research items using the eBay, Craigslist and amazon apps.
Some items will have defects or broken parts that can be fixed or replaced. Asking a manager for a lower price after you point out the defect will get you a lower price 95% of the time.
8. Don’t Overspend
I typically will not buy anything that I can’t make at least $10-15 on. If you overspend and are only making a few dollars on each item, you are wasting your time. Buy low and sell high.
9. Test Electronics
In the electronics section, they will have the TV’s plugged up on a power strip. Take any electronic item you have found such as game systems, cameras, computers or DVD players to the power strip and make sure that it works. If it doesn’t work, return it to the bin.
10. Bigger is Better
From my experience, bigger items usually mean bigger profit. I’ve had great success making a lot of money selling items like exercise equipment, commercial equipment, machinery, and medical equipment.