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[Mark S]

Yes, go for the garage sales. I love them too.

Here are some things that I have found helpful with garage sales:

1. I try stop at them on my way somewhere so I don’t go out of my way.

2. I try to stick to the parts of town where I have had success with garage sales and avoid those where I haven’t had success.

3. There are some garage sales that I will specifically target. That is how I got a pair of 1960’s Converse All-Star shoes that I sold for $850.

4. If there is a sub-wide sale in the parts of town where I have had success, I hit those because you can sometimes hit 20 in an hour, especially those in a condo community.

I don’t usually get out to the Waterford area. would you recommend the Dixieland Flea Market if I would have to drive a bit to get there? What type of items do you find there? How are they priced?

Mark

[Mark S]

T-Satt,

Yes, I still have contractors for listing and photography. I am asking my lister for 250 items lusted per month. I am giving a bonus if she reaches that goal. I did hire s photograher at the end if last tear and she was doing about 20 items a week till she slip on some ice on some stair at a business (not mine) and broke her tail bone. That was about a month ago. I just told her to take whatever tine dhe needed. She was in a lot of pain.

So the contrsctors are key to my business, I couldnt do it without them. That is part of the reason i give a bonus for goals met. My lister had been doing this for over 4 years for me. She understands exactly what i want and she does a great job. If i get a warehouse type deal going in the future, she would be a great operations manager.

Mark

[Mark S]

T-Satt,

Many years ago I was a software developer on a team that did the Engineering budget forecasts for Ford Motor Company. The financial guys wanted to see 5 years out and the software allowed them to do what if scenarios. That is where I got the idea for my spreadsheet.

Mark

[Mark S]

Mike,

The link is in the forum for episode 334. Seach on forecasting tool there and you should find it.

Mark

[Mark S]

Mike,

Yes, I can get the spreadsheet to you. I posted the link to it on google docs. I will get the link and put it here later.

Mark

[Mark S]

T-Satt,

Yes, I take those forcasts more than 2 years out with a grain of salt. What I am trying to do is see the logical end of an actionI may take today, what is the effect down the road? It is like that ripple in the water that keeps reverberating into the future. To give you anexample of how i am using it: i am set up now to list about 300 items a month right now. That is a stretch for me. What if I do that this year and next, then take it easy after that and list only 200 items a month, will I reach my goals that year and the 2 years after that? That is what i use it for. Also it excites me to see where that will take me and motivates me to get there – sorta self positive talk.

Mark

[Mark S]

Hi shayward23,

Welcome to posting your numbers. You have to start somewhere.

I am also in Southeastern Michigan, the Ann Arbor area. Where are you?

Garage sales are fun to go to, but they are time consuming and just like that box of chocolates (never know what you will get). I like them because you can get good stuff for cheap, but real time consuming. But you are right, you can get out in the sun and it is fun. My go to source is estate sales – I can get the most high quality items in a very short time and here in Southeastern Michigan the estate sales are plentiful.

Mark

[Mark S]

02/18/18 – 02/24/18

Total Items In Store: 2,254
Items Sold: 22
Cost of Items Sold: $80 (around)
Total Sales: $791
Highest Price Sold: $100 (Vintage Polo Cologne)
Average Price Sold: $ 35.97
Returns: 0
Money Spent on New Inventory This Week: $ 70
Number of Items listed this week: 66

This week was very similar to last week in terms of sales.

I am getting serious now about getting higher priced items. On Sunday afternoon, I went into the “wealthy” area for estate sales because I am getting serious about buying much higher priced items. There were very crazy prices like I expected. One house had a lot of items priced $1000 – $4000.
I had no idea what they were, so I avoided those.

This is what I learned: 1. The prices can be very expensive for what you get 2. The estate people can be very pushy 3. Most Clothing items are not priced 4. You can still get deals, you just have to know your stuff and stick to your guns. For example, at one sale, the lady told me she wanted $10 for each pair of shoes. One pair was a pair of Bass, the other pair was a $100 pair of Tod’s. I took the Tod’s and left the Bass. In the end I paid $100 for 11 items which were worth $600. That is 16.66% COGS. Average sell price $54.26.

Mark

[Mark S]

T-Satt,

Well said T-Satt!

And if you want to see where your model will take you, use my forecasting spreadsheet and you will see the next 5 years or more. I have been using it and I see where I am going and I like what I see.

I have been on a quest to get those higher end items. I will post below on this weekend. I find that when I search out those high end items, I can find them and for a decent price.

Mark

[Mark S]

Very Cool. I particularly liked the baseball ones. Sounds like a good guy to know.

[Mark S]

Katie,

I have been to Salt Rock and it is awesome. We watched the guys as they cooked the steak and they told us the whole process. They are serious about their steaks! They have an aging process (and I think a room for it) and they are very skilled at knowing exactly how long the meat needs to cook based on how you want it cooked. And of course the steak does taste amazing. It is pricey, but I think they earn it with their proven process and people.

I haven’t heard about Middlegrounds. I just looked it up, but I can’t tell what their specialty is. They have a fish on the building, so I assume seafood.

Mark S

[Mark S]

Katie,

Thanks for your response. I am hungry now too, but luckily my wife and I were already planning to go out to eat while the kids are at a sleep over.

My family is always looking for good places to eat down there, but it is hard to know since we are only there for about a week. We will have to try some of those restaurants. Do you know any good restaurants closer to Madeira Beach?

I will take you up on going thrifting together, it should be fun. We will be down there at the end of June \ 1st week of July. I can give you more specifics as it gets closer. Would be good to know the inside scoop on the area.

Mark S

[Mark S]

Hi Katie,

I saw that you are from St. Petersburg. I don’t live there, but I vacation near there most every year. There are a few “thrift” places that I have been to in that area: The Wagon Wheel in Pinellas Park. It is a little junky, but sometimes you find something good. Keswick in Seminole – found some clothes there. Church by the Sea Thrift store in Madeira Beach – a little on the expensive side, but good items. Have you been to any of these? I also like to go to garage sales by the Gulf, I have found nice items there also. Any places you would recommend for my next trip?

My favorite pizza place there is Bones Pizza Shack in St. Petersburg with Cuban pizza. Not sure why I love it so much, but I do. Have you been there? It is basically a hole in the wall at 6708 Gulf Blvd. The sit down is a picnic table outside.

Mark

[Mark S]

simplicio,

Ok, now I remember how you do it. You find that high dollar industrial type items.

I am with you on the time factor, I work a day job and have 2 kids also, so time is at a premium.

I am trying my best to be pickier and get those higher priced items also. You have been successful at that, so that is a good thing. Where do you usually find those high dollar industrial type items? I would like to try that.

Mark

[Mark S]

Simplicio,

That is an interesting environment you are in. Are you in California or the West Coast? I have heard it is really difficult there.

I am in the Mid West and inventory is very cheap and plentiful. Are you going to Estate Sales, Garage Sales, and Auctions?

Mark

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