The idea behind flipping furniture is simple: Sell it at a higher price than you paid for it, and enjoy the profits that follow. In other words, you’ll sell it for more than its original value and see a tidy reward.
This strategy has become very popular over the last decade. And now, thanks to the rise of social media platforms such as Facebook and Instagram, it’s easier than ever to flip furniture – and we have all you need to get started and succeed.
What Is Flipping Furniture?
The concept behind flipping furniture is simple. You buy something cheap or free, then resell it for a profit. It can be anything from an old couch to a dining room table.
But this makes this so appealing because you don’t have to spend much money on advertising or marketing.
Instead, you simply post pictures of your items on social media sites like Facebook and Instagram and wait for people to start bidding or asking to purchase. Once someone buys your item, you ship it out immediately.
What Types Of Furniture Can I Flip?
There are many different types of furniture that you can flip. Some examples include:
- Dining Room Sets
- Bed Frames
- End Tables
- Coffee Tables
- TV Stands
- Wall Units
- Storage Cabinets
When finding furniture to flip, the secret is to find items that you can pick up for a low price, but that others will be willing to pay a higher price for, either because of the rarity of the item or as a result of your upcycling or an improvement.
Upcycling is a trend that has grown in popularity recently and, as the name suggests, refers to furniture that was once used by another person, but has been transformed into something new.
Common examples include turning a dresser into a nightstand, using a coffee table as a sideboard, or using paints and other upgrades to improve the look and feel of a piece of furniture.
What Are The Benefits Of Flipping Furniture?
Flipping furniture is a great way to make some extra cash without spending too much time or effort. Here are just a few benefits of flipping furniture:
Make A Good Profit With Little Investment
One of the main benefits that many people experience with flipping furniture is the chance to make good profits with little investment.
The secret is not to pay too much for your item in the first place – this will maximize your profit -and a key element of this comes from sourcing your stock from the right places.
Good places to look for furniture to flip include Craigslist, eBay, Freecycle, and local thrift stores – these offer a chance to pick up some real bargains for great prices, reducing your overheads and allowing you to maximize your profits.
You Don’t Need To Be A Professional
Another benefit of furniture flipping is that you don’t need to be a professional to do it.
Plenty of people have made a successful living off their furniture flipping skills, and they’ve done so without any formal training or qualifications – all you need is a little experience, creativity, and a good work ethic.
It Doesn’t Require Much Time Or Effort
Another major advantage of furniture flipping is that it doesn’t require much time or effort. Once you have completed the hard work of procuring your items, all you really need to do is take some photos of your items, upload them online, and wait for customers to come knocking.
This means that you can easily fit furniture flipping around your existing schedule, which is perfect if you’re already busy with other things.
How To Get Started With Furniture Flipping
So, now that we have taken a look at the pros and cons of furniture flipping, you may be wondering just how to get started, and we have the ultimate guide. Read on to learn more about getting started with furniture flipping today!
Find Your Stock
The first step in starting a furniture flipping business is to source your stock. This could mean going to flea markets, garage sales, second-hand shops, or even buying at auctions.
You’ll want to keep an eye out for items that are in good condition, and that is easy to move.
Make Desired Changes
If you wish to upcycle your stock for a greater profit, you will next need to decide what changes you would like to make. For example, if you plan to turn a dresser into a bedside cabinet, then you’ll need to remove drawers and shelves and add storage space.
If you plan to paint your furniture, you’ll also need to consider the new color and style and the best way to achieve this.
Upload Photos Online
Once you have decided on the desired changes, you’ll need to upload your new images online. This should be simple enough, as most websites allow you to upload multiple pictures at once.
Wait For Customers
Once you have uploaded your new images, you’ll need to sit back and wait for customers to start contacting you. It’s important to remember that while you might be able to sell your items quickly, there is no guarantee that you’ll receive orders.
So, you’ll need to be patient and wait – this can often be the hardest part!
Make A Sale
Eventually, you will see your patience pay off, and can finally close a deal. When this happens, you’ll need to ensure that you follow through with the sale by shipping the item to your customer.
Repeat Steps 1-5 As Often As Possible
As soon as you complete one sale, you’ll need to repeat steps 1-5 until you have sold everything.
The key here is always to be prepared to ship your products, and to be ready to accept orders when potential clients contact you – you want to be the first port of call.
Furniture flipping has become increasingly popular over recent years, and many people are making money from their passion. With a little research and hard work, this could become a very lucrative side hustle that reaps some serious benefits.