Why a Yard Sale is Serious Business
A few weeks ago I spent the day at my mom’s helping her organize and run a yard sale. With all of her children grown and moved out, she wanted to sell what items she could prior to putting her house up for sale. Since the house contained four bedrooms, an attic, and a basement, she was ready to sell decades worth of items. From seasonal decorations, camping gear, sports memorabilia, old clothing we’ve outgrown, toys not made for adults, and outdated appliances, she had more than a good number of items to put on display and make a profit from.
Between calculating the prices of items, bagging them, and talking with yard sale-goers, I thought of it nothing more than just another yard sale. We started at 7 a.m. and by 9 a.m. my iced latte wore off and I wanted to crawl back into bed. Little to my surprise did I realize that a yard sale is a serious business.
Like owning a business and selling your products, the same goes for having a yard sale. You have products up for display and your goal is to make a profit. While a one-day yard sale may not sound as serious as running a small business on a daily basis, within one day of helping run a yard sale, you can learn a lot about running a business.
Get your business’ name out
My mom went ahead and pinned flyers outside of her complex and on the nearby busy road. She also contacted the local newspaper to run an advertisement the day of the yard sale. My boyfriend went ahead and placed advertisements on Craigslist throughout the week.
While these tactics are suitable for a yard sale, if you own a small business, social media is a great way to spread the word about a sale or special. Include when the sale will occur and mention items that will be for sale.
Beat your competitor’s prices (know what your products are worth)
Although my mom didn’t have any competitors, we did have to bargain with buyers. While we had stickers with prices on each item, some people wanted to pay less. We had to be ready to negotiate and argue why certain items are worth the price we put on them.
In business, your competitors sell similar products as you. One of the easiest and best ways to win over customers is to not only sell a better product but to sell it at a better price.
Show the value of your products
In other words, what makes it so great? During the yard sale, there were items that people were unfamiliar with. That’s when we were ready to explain the item, what it does, and why it’s beneficial. We even took the time to give examples of how it worked. This actually helped as people were willing to buy the product once they saw what it could do.
In regards to business, customers may see a product but what they want to know is how it works or what it can do. In other words, why should they buy your product? What value is it to them? Give customers a reason to buy your product. Explain to them how it’s valuable and can benefit them.
While we didn’t sell everything, of course, my mom still made out with a good profit. And, isn’t that what good businesses are built on?
