This is part of the story CNBC Make it Six-Figure Side Hustle Series, where people with attractive side hustles break the routines and habits they have used to earn money on top of their full-time jobs. Got a story to tell? let us know! email us [email protected],
Technically, Sophie Regel did not spend a penny to start his side hustle.
She already began with the items that were searching for old clothes to sell online from their closet. After making $ 200 from her own used fabric, she changed to shop for some of her favorite places: Thrift Stores.
23 -year -old Regel says, “I have been a thrifter throughout my life, because I don’t like to spend money.”
Since April 2020, she turns that habit to an attractive side. RIEGEL brought up revenue to around $ 123,800 last year, reviving the items purchased from Thrift Store at online marketplace such as eBests, mercury and poshmarks, according to documents reviewed by CNBC.
She earned more than $ 192,000 in net profit over the last four years, as her cost is minimal: Regal estimates that she spends more than $ 50,000 on her sold clothes. Other expenses include shipping costs and gas money for driving from Thrift Store to Thrift Store. Online marketplaces live between 10% and 20% of its sales.
Most of his business came from his dorm room at Duke University, where he graduated with a degree in psychology last year. She is chasing a full-time career as a professional writer, speaker and life coach-and expects her side to include about 50% of her income this year, she says.
“I started buying things from $ 5 to $ 10, flipped them from $ 50 to $ 100,” Riegel says. “It seemed to work really well. I probably had 200 or so many items in my dorm room, and now I have 1,300 items [in a storage unit],
Here, Riegel discussed the work that he discussed his love to thrill his love in the six-end annual business, as well as the tips to follow the tips on his footsteps with suggestions for someone else.
CNBC makes it: You are already coaching customers to start your own thrifting side hustle. What are some of your best suggestions for those who want to repeat your success?
Riegel: The biggest thing is that you have to have fun with it. If you are not enjoying it, do not do so.
Start with what you know the most. If you know a lot about clothes, start with it. It can really be easy to buy a lot – it’s a fun part – but it does not sell if you don’t list it. So even if your listing is incomplete, lift it up, take it out, because everything is a market for everything.
keep learning. If you “I already know this stuff, I do not need any resource,” known with the mindset of “, it is likely that you will not do it like” this is “it is a great opportunity for me to know about yourself, about brands and more about all that.”
I followed tons and tons and other resellers on YouTube. I spend hours and hours to learn the brand, learn to use all platforms. I have learned the strategies of each store that I go, and find out that they put new shoes when they do X, Y and Z.
Sadbhavna kept a new color every week in my area. So, when I go to those shops, I only look for that color.
How much cash do you need to start a thrifting side hustle?
Factoring in shipping and all of that goods – of course, you need to pay for gas – $ 100 understands.
[In terms of the thrifting]You can start with low as $ 5. You get a good thing for $ 5 and you have already received more money: $ 5 turns to $ 20, turning to $ 100.
If you start with your luggage, you need $ 0.
What are the most important symptoms for someone to succeed on it?
You are constantly and frequent. Right now, I list 10 to 20 items a day. And because I list every day, things are being sold continuously.
You have become organized. You have to be patient – I am not very good on it, but I am working on it.
The biggest thing is: You are ready to ask for help when needed. You do not need to do all this alone. When I started for the first time, my father helped all my shipping. He helped me move everything from various storage units. I did not need to do it alone because I asked for help.
Do you see yourself expanding your side in the future? How does he feel?
I am very happy where I am. I see, in the future, potential employees do all the items that I do not want to do – such as shipping, listing and photographing. that would be great. This is a lot of work for a person.
But right now, I will not change it because I love what I do.
This interview is edited for length and clarity.
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