How to Make Money on a Garage Sale

In this day and age, everyone seemingly knows how to put together and hold a garage sale.Yet if this is so, why is it that some people are lucky to gross $150 while others consistently make $1,500 or more from their garage sales.

Pick almost any city or town in the country; drive through any middle class neighbourhood or residential area on any weekend.You're sure to spot at least half dozen garage sales.And what's being sold at these garage sales?The accumulated "junk" that a lot of people no longer use or want taking up space in or around their homes.

Is it hard to hold a profitable garage sale?Not in the least!All it really takes is some of your time, and an awareness of a few merchandising tactics.But to be really proof it able, you must know how, and exercise careful planning.

First, let's look at some of the background.Everyone accumulates items that other people are searching for, and are willing to buy.These items range from discarded or outgrown items of clothing to furniture, tools, knick-knacks, books, pictures and toys.

Start by taking an inventory of all the things you have "just taking up space" around your home.Decide which items you'd be better off getting rid of, and make a list of these things.These are the things you are going to put up for sale.And if you are honest about what you really want and need, the pile will grow if you look over your house hold a second and third time!Remember that many garage sale offerings are items of merchandise purchased on impulse, and later found to be no t what the buyer wanted.

It is the human condition: We discover too late that we don't like or have used for things purchased; we "outgrow" in size or taste articles that once fit, or pleased us.You'll find that many items offered at garage sales are gifts that have been given to the seller, but not really suited to the recipient.In other words, it will be to your benefit, before you stage your first garage sale, to take a week or so to browse through all the garage sales you can find.

The problem is, most people just don't have the time or energy to gather up all the items taking up space around their homes and staging a garage sale to get rid of them.Believe it or not, many people really don't know how to stage a garage sale; and a lot of people feel that putting on a garage sale is just too much bother and work.

This is where you enter the picture.Your enterprise will be an ongoing garage sale of items donated and collected from those people who lack the initiative to put on garage sales of their own.In other words, you can become a "liquidator of people's junk," via super garage sales that you promote.

We've already suggested that you spend a few weeks visiting the garage sales, swap meets and flea markets in your area.Your purpose will be to see what is being offered for sale; what the people in your area are buying, and how the merchandise is being sold.One of the things to notice is how the merchandise is displayed.You'll also want to notice how the sellers handle customer browsing, and the prices they charge for the merchandise offered.You'll find most items tagged with a price sticker, but generally the seller is open to either price negotiation or a reasonable offer made by the customer.

About the Author

Uchenna Ani-Okoye is an internet marketing advisor and co founder of Top Affiliate Programs

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How To Avoid Being Targeted By The IRS In Your Home-Based Business!

If you run a home-based business, you might be confused about what you can and cannot deduct as reasonable expenses.Some home-based businesses make critical mistakes and are red-flagged by the Internal revenue service.However, with a little guidance, you can start a business that will stay under the radar and keep you out of hot water:

Understand home office deductions.

While you don't have to have a separate room as a home office, the area you use must be used exclusively for conducting business.This includes a place where you meet clients, patients, or customers.You can also claim a home office deduction if you store inventory for your business.In the strictest sense of the word, a home office cannot include personal items, such as personal mail, your children's toys, etc.

Incorporate your business.The IRS keeps an eye on home-based businesses.In fact, sole proprietorships, especially those that are home based business owners, are more frequently audited than corporations.One tactic that you can use to decrease your chance of an audit is to incorporate (form an LLC or corporation) your business.Incorporated businesses are audited far less frequently than home-based businesses.The IRS is more likely to question deductions in a home environment than a corporate setting.

Keep separate bank accounts for personal and business use.One of the biggest mistakes that small businesses make is to combine both personal and business expenses.Keep separate accounts for personal and business use.In case of an audit, it's much easier to refer to an account that is used for one purpose than to wade through 12 months of personal and business expenses and attempt to separate them.

Deductions should be reasonable for your business.Avoid extravagant deductions.Another red flag for you home business is when the deductions are high in comparison to your income or the industry norm.Obviously, you'll have deductions, but over-the-top claims will catch the eye of the IRS.If you have large deductions, keep the proof on file for at least three years.

Use specific amounts.Most costs don't end in rounded numbers.Be specific.Rounded numbers imply estimates, and this could flag your business for an audit.Also, if you believe that a deduction will flag you for an audit, attach proof to substantiate your claim.

File online.Math errors are another audit magnet.While one small error probably won't create a problem, multiple errors will most likely bring attention to your business.When you file online, the software will do the math for you, eliminating the margin of error.

Don't underreport earnings.Keep in mind that in this technological age, the IRS can easily find your earnings.Don't be tempted to underreport your income, or you could find yourself at the losing end of an audit.

Run your business like a business, not a hobby!Use some type of accounting software to track your monthly revenue and expenses so you can track your profit and loss.Running your business based upon your online checking account balance and 'let's just see how it goes,' sounds more like a hobby to the IRS vs.a real business.

Operating a home-based venture is a rewarding experience and doesn't have to create IRS headaches.Know the tax laws, keep good records, and your home business will thrive.For more information about what you can and cannot deduct as a business expense, go to the Internal Revenue website and download Publication 587: Business Use of Your Home.

About the Author

Scott Letourneau is the CEO of Fast Business credit, Inc.

and has a valuable free guide to help small business owners get access to capital plus a new program to help business owners understand the importance of credit!Go to our Business Credit Program page for powerful details!

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Is Your Local Chamber of Commerce Obsolete

Wandering into the San Jose, California Chamber of Commerce one wonders what sorts of local businesses are members. After all, San Jose is Silicon Valley Central and the home to many of the worlds best known companies.

As one glances at the list of members what is conspicuous is the absence of the heavy hitters. What is also conspicuous is that of the tens of thousands of businesses in San Jose only a very small percentage bothers to join the San Jose Chamber of Commerce.

In the old days local C of Cs were places to advertise and promote your local business. Somehow being a member and paying your 150 yearly fee would put you among the local elite and raise the credibility of your company.

But as in the San Jose Chamber of Commerce most local businesses are not members as well as the "bigger and more important" local businesses.

But its not just San Jose. Go to any local C of C and more than likely you will find the same thing. Why

A big picture analysis shows that the concept of "local" has changed. Technology and specifically search technology has opened the world to the local consumer with more than just local options.

In the old days one did business with those that one knew or knew of locally; now the local consumer can do business with any company they find searching the Internet.

The "Buy Local" programs have simply become obsolete as the concept of local has lost its meaning.

The inference once was that local consumers were looking for businesses and a good way to find reliable businesses was through the local Chamber of Commerce member list. Actually this idea died in the 1970s and 1980s and was in reality not a member benefit by 2000.

In the past a new business would join hoping to gain local exposure and maybe get some extra business. The badly maligned Mixers would help serve this function.

New members were told to bring their "pitches" and stack of business cards and hand them out at the mixers. So in effect the mixer became a big "lets sell to ourselves" exercise, as rarely do non-Chamber members attend the mixers.

Local collective ads were once another way the local Chamber could promote its members; through brochures, local newspaper and magazine ads, an occasional TV or radio spot. As mass media has gotten more expensive, the collective ads have gone by the wayside.

And like many organizations, the local C of Cs have been hit hard financially in the recent economic downturn. As their cash flows have diminished, the Chambers ability to hire and retain good staff had diminished as well.

Hence, all the ubiquitous job postings for Chamber Executive Directors. Part of the "executive package" is that the executive director must raise money to pay for herself.

This means that the primary function of the executive director is not promoting local business but raising enough money to keep the Chamber above water.

But in all fairness, its not just the executive directors fault; what can a group do locally to promote themselves

The biggest complaint today is that the Chamber does little or nothing for its members so it has become harder and harder to justify the time and 150 fee. The first question a new prospect asks is what is in it for my business

If the expectation is increased business, as many new members hope, then the expectation turns to disappointment over time. Thats too bad.

Communities need a strong business community to thrive and communities with a weak business community have problems.

The simple fact is that the local C of Cs are delivering less and less value to their members. Unless the local Chambers are able to redefine their mission and find ways to bring greater value, the Chambers will simply go the obsolete route of newspaper advertising.


About the Author

Jack Deal owns JD Deal Local Search marketing and Deal Business Consulting, Santa Cruz and Salinas, California 95076 831-457-8806. Related articles, ideas, strategies, tactics and tips can be found at

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