The Intelligent Investing Podcast #138: Thrift Shop Arbitrage
Join Eric Schleien with the founders of Alluring Oddities, as they share stories about their income-generating passion for thrift shopping and what it took to make this side-project grow and continue growing.
More than just a business, the founders treat their passion as a venture wherein they can cultivate experiences for their friends, loved ones, and Buffalo's whole community. Community over competition is a general outlook that they endorse.
Learn more from their experiences as you tune in further to what the founders have have to share.
About Alluring Oddities:
Alluring Oddities is a curated and cultivated gallery of mostly 60s or 70s offbeat thrifted treasures in Buffalo, NY.
Outline of the episode:
- [07:45] The fascination towards everything timeless in condition.
- [09:53] Make money out of it, not: get rid of it.
- [11:03] More than just a business, it's a lifestyle.
- [13:22] Alluring Oddities: a thrift store's gross margin.
- [14:37] Set your brand different from others.
- [15:30] The resurgence in Buffalo's market.
- [17:03] Why interact with your audience? Why research? Why benchmark?
- [19:44] Connecting to peoples' stories through their belongings.
- [25:43] On price tagging.
- [26:34] "Community over competition."
- [29:22] What your venture will mostly need from you.
- [30:06] Putting everyone's strengths at work.
Resources:
Bounty Hunter TK4 Tracker IV Metal Detector
Thrift at or Donate to Goodwill
Thrift at or Donate to Salvation Army
About Eric Schleien
Over the past decade, Eric has trained thousands of individuals including board members of public companies as well as several Fortune 500 CEOs. Eric specializes in organizational culture and has become a leading authority on organizational culture in the investment industry.
Eric has been investing for 15 years and has been using breakthrough coaching methodologies for over a decade. Eric had the insight to combine proven coaching methodologies with shareholder activism techniques to create an entirely new model for shareholder activism that was more reliable and created greater sustainable results in a rapid period of time. On average, Tribal Leadership produces a 3-5x increase in profits of culturally troubled companies within an average of 24 months or less.
Eric currently resides in Philadelphia, PA.
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