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The Side Hustle Show
640: Get Paid to Sell Other People’s Stuff: Starting a Consignment Side Hustle
Nov 14, 2024
Sarah McAffry, founder of Statemint Consignment, shares her journey from organizing kids’ events to launching a thriving consignment franchise with 23 locations. She reveals how she earned over $10,000 at her first event and gained the trust of her initial sellers. The conversation dives into effective marketing strategies, the unique challenges of adult consignment, and utilizing community engagement to boost sales. Sarah also highlights the rising trend of resale markets and encourages listeners to explore low-risk side hustle opportunities.
40:44
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Quick takeaways
- Starting a consignment business minimizes financial risk by eliminating upfront inventory costs, benefiting both sellers and buyers in the process.
- Effective grassroots marketing and social media strategies are crucial in attracting participants for initial consignment events and building a local presence.
Deep dives
The Advantage of Consignment Sales
Starting a consignment business offers significant advantages over traditional retail models, primarily due to the absence of upfront inventory costs. Sellers can declutter their closets while earning a share of the profits, making it an attractive proposition for both parties. The model allows individuals to engage in entrepreneurship without the financial risks associated with inventory purchasing. This dual benefit not only helps sellers make money but also creates a marketplace for buyers seeking quality secondhand items.
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