Estate sales often occur at an emotional time for the family. It can be overwhelming to go through the items of a family member who has just passed, so many people turn to these services. It obviously takes some work, but you’re able to charge a percentage of the gross profits generated. This can be a good side hustle with the potential to make a great income.
These are not the same thing as yard sales. They can be held in a yard, but there are some differences. For one thing, these services will have taken a couple of weeks to asses the value of each item and then apply price tags. It takes time to go through an estate and find out what’s valuable. But the point of an estate sale is to go through as many items as possible and make some profit for the family. Even though it takes some effort, it’s doable by pretty much anyone, and that’s why we chose it for our Side Hustle Master List.
Requires initial effort to get jobs via numerous leads (contacting thrift shops/realtors/lawyers), establishing online presence, and networking; can participate in estate sale company networks; can boost leads through Google Adwords investment.
How to Start
There are some things you should know before you jump into your own venture. For one thing, most customers will only trust businesses that are bonded and insured. The insurance is for any injury that could happen at a sale, and being bonded means you’ll reimburse the family if the estate costs more to put on than the profit it makes. You also should be knowledgeable about antiques and collectible items, or you should have someone you know who you can call in for help. Families look to you to set the right prices and bring in the maximum profit for the sale. Speaking of profit, you usually will charge a percentage of the sale. So if you charge 20% and sell $5000 worth of items, you walk away with a cool $1000. Check out the links below for more information.
- How to Start an Estate Sale Business
- So, You’re Thinking About Starting an Estate Sale Business
- How to Be a Professional Estate Sales Service
- 14 Tips for Hosting a Successful Estate Sale
- Side Hustle Series: I Used to Host Estate Sales